topic Re: Bank of America Accelerated Cash Rewards AMEX in Credit Cards

Bank of America Accelerated Cash Rewards AMEX

Anonymous — Thu, 29 Jan 2009 23:43:03 GMT

I'm thinking about applying for this card.

Cash rewards: Earn 1.25% cash rewards per $1 in net retail transactions; that's 25% more cash rewards than the standard Bank of America Cash Rewards credit card.
Redeem in increments of $50 with no limit to the dollar amount you can earn
Rewards Redemption: Payable in checks, statement credits or direct deposit to your checking or savings account, upon request
Rewards Limit: None
Points Limit: None
Rewards expire: 5 years

It seems pretty cool. I am debating on THIS and the regular Bank of America Platinum Plus Mastercard.

I am just a bit worried about the AMEX brand to it. I already have an AMEX Blue Cash and I do not want to make AMEX angry by getting another AMEX card. So my question is, (yes, it is really silly), is this an AMEX card or a BOA card? I don't want it to be a credit card in disguise that I have to watch my back all the time (we all know how crazy AMEX is). I am simply trying to build some relationship/history with BOA, and I am hearing really good things about BOA from the forum.

Re: Bank of America Accelerated Cash Rewards AMEX

Anonymous — Thu, 29 Jan 2009 23:52:18 GMT

Its a BofA card. And I want it.. I will be super jealous if you get it! I have the platinum plus 99/500, reaaaally hoping to convert to the AMEX sometime after graduating! Let us know if you pull the trigger and how it goes! Someone mentioned it was 5000 min. CL, not 100% sure if thats accurate though..

Re: Bank of America Accelerated Cash Rewards AMEX

Anonymous — Fri, 30 Jan 2009 00:02:30 GMT

So if you were to choose between the BOA Platinum Plus Mastercard, you would choose this one? I just don't want it to walk and talk like psychotic high-maintenance girflriend aka AMEX lmao.

Re: Bank of America Accelerated Cash Rewards AMEX

Anonymous — Fri, 30 Jan 2009 01:49:32 GMT

There's one more option from Bank of America/FIA:

Fidelity Investments Retirement Rewards American Express with 2% cash back on everything:

http://personal.fidelity.com/misc/buffers/retirement-rewards-card.shtml.cvsr

# No limits on cash rewards
# No annual fee

Don't let the name "Retirement Rewards" throw you off. The fine print reveals that you can choose to have the rewards deposited into any Fidelity account including a Fidelity brokerage account:

http://personal.fidelity.com/misc/buffers/retirement-rewards-card_faq.shtml

"What accounts are eligible for a Fidelity Rewards deposit?

Individual Retirement Account registrations include Traditional IRA, Roth IRA, Rollover IRA, and SEP IRA. Other Fidelity accounts that can accept rewards are non-retirement brokerage accounts and Fidelity-managed 529 Plan accounts that accept Automated Clearing House ("ACH" ) deposits."

Message Edited by MojaveMoon on 01-29-2009 05:49 PM

Re: Bank of America Accelerated Cash Rewards AMEX

Anonymous — Fri, 30 Jan 2009 00:52:41 GMT

Also, the Fidelity/FIA Amex seems to have better terms for the redemption of your rewards than the BofA/FIA Accelerated Amex:

Fidelity/FIA Amex:
- You'll earn 2 points for each $1 you spend on purchases
- Once cardholders reach 5,000 points, they can be redeemed automatically or on demand for cash at a 1% exchange rate into an eligible Fidelity account.

BofA Accelerated Amex:
- Cash Rewards are payable in checks, statement credits, or direct deposit into your checking or savings account in increments of $50 upon your request. Currently, available rewards are $50, $100, $150, $200, $250, $300, $350, $400, $450 and $500.

In my opinion, the BofA/FIA Accelerated Amex sounds like it'd be a pain in the neck to use in so far as if you have, say, $ 75 in earned rewards then either you have to wait till you reach $ 100 until you can redeem the rewards or else you can choose to redeem $ 50 out of that $ 75.

Whereas with the Fidelity/FIA Amex it sounds like once you reach $ 5,000 points (i.e., once you've spent $ 2,500), then you can redeem the earned awards at any time. But maybe I might be interpreting things wrong.

Message Edited by MojaveMoon on 01-29-2009 04:52 PM

Re: Bank of America Accelerated Cash Rewards AMEX

Anonymous — Fri, 30 Jan 2009 00:48:21 GMT

@Anonymous wrote:
So if you were to choose between the BOA Platinum Plus Mastercard, you would choose this one? I just don't want it to walk and talk like psychotic high-maintenance girflriend aka AMEX lmao.

With any Amex cards not issued by American Express, American Express doesn't have anything to do with the underwriting.

Re: Bank of America Accelerated Cash Rewards AMEX

Anonymous — Fri, 30 Jan 2009 00:50:25 GMT

Thank You

We have received your application for the Bank of America® Accelerated Cash Rewards™ American Express® Card from Bank of America. Your business is appreciated and we are carefully considering your request.

Please expect an email in a few days with a decision for your credit card request.

In the meantime, you may check your application status:

Go to bankofamerica.com and select Credit Cards
Select Check Application Status
Enter the requested information you provided on your application

AAAAAAAAAAAAAAAAHHHHHHH!!!!

Re: Bank of America Accelerated Cash Rewards AMEX

Anonymous — Fri, 30 Jan 2009 01:03:29 GMT

Good luck!

@Anonymous wrote:
Thank You
We have received your application for the Bank of America® Accelerated Cash Rewards™ American Express® Card from Bank of America. Your business is appreciated and we are carefully considering your request.
Please expect an email in a few days with a decision for your credit card request.
In the meantime, you may check your application status:
Go to bankofamerica.com and select Credit Cards
Select Check Application Status
Enter the requested information you provided on your application

AAAAAAAAAAAAAAAAHHHHHHH!!!!

Re: Bank of America Accelerated Cash Rewards AMEX

Scamp — Fri, 30 Jan 2009 01:06:06 GMT

fender wrote:
Its a BofA card. And I want it.. I will be super jealous if you get it! I have the platinum plus 99/500, reaaaally hoping to convert to the AMEX sometime after graduating! Let us know if you pull the trigger and how it goes! Someone mentioned it was 5000 min. CL, not 100% sure if thats accurate though..

Just FWIW, I've called 2-3 times now, trying to PC my regular Accelerated Rewards AmEx to the Cash one - no go. Keep telling me I can't, that I have to do a whole new app.

If you manage to PC from your 99/500, definitely let us know.

Re: Bank of America Accelerated Cash Rewards AMEX

Anonymous — Fri, 30 Jan 2009 01:11:43 GMT

Yeah BoA used to be PC friendly, been hearing otherwise lately =(

@Scamp wrote:
@Anonymous wrote:
Its a BofA card. And I want it.. I will be super jealous if you get it! I have the platinum plus 99/500, reaaaally hoping to convert to the AMEX sometime after graduating! Let us know if you pull the trigger and how it goes! Someone mentioned it was 5000 min. CL, not 100% sure if thats accurate though..

Just FWIW, I've called 2-3 times now, trying to PC my regular Accelerated Rewards AmEx to the Cash one - no go. Keep telling me I can't, that I have to do a whole new app.

If you manage to PC from your 99/500, definitely let us know.

Re: Bank of America Accelerated Cash Rewards AMEX

Anonymous — Fri, 30 Jan 2009 01:44:11 GMT

Still waiting here, I supposedly PC'd my Plat Plus (formerly secured) to the Acc. Rewards about a week ago. Still hasn't changed on the website or showed up in the mail. I won't believe it until I buy something with it.

Re: Bank of America Accelerated Cash Rewards AMEX

ellimaccj — Fri, 30 Jan 2009 02:17:53 GMT

I graduated from a fully secured card after 11 months. A week upon graduating ( Jan 3rd, 2009), I called several times to product change and kept getting the run around. I then went into a bank and the Cust Service Rep called card services and they put the request in for me. I requested an American Express Accelerated Rewards and my card (Visa plus with a 500 limit) was converted two weeks later.

Re: Bank of America Accelerated Cash Rewards AMEX

Anonymous — Fri, 30 Jan 2009 02:31:19 GMT

My hubby has this card, I love it. Rewards are easy to redeem, we redeemed 750.00 last year and already at 20,000 points. I like to get the check back and then deposit it into my MM. We always get the check in 7-10. So far no problems. I usually wait until I have the 50,000 points and redeem the 500.00. Since it was end of the year I put in for the 25,000. Good Luck Vicki

Re: Bank of America Accelerated Cash Rewards AMEX

Anonymous — Fri, 30 Jan 2009 04:26:45 GMT

I have this one too. I just redeemed $50 and only got the card in October. Also, it reports as Bank of America only. It does't show any indication of being an Amex on credit reports. I love the extra warranty coverage, etc that comes with having an "Amex" card even though I'm not having to tip-toe around a real PMSing Amex. :-)

Re: Bank of America Accelerated Cash Rewards AMEX

Anonymous — Fri, 30 Jan 2009 04:30:43 GMT

For some reason, BoA is really slow about Product Changes. I'd call just to be certain, because when I PC'd back in the fall, the first time my approved request got "lost", and it took another two weeks to get it done. Once it was done, it was awesome, though.

@Anonymous wrote:
Still waiting here, I supposedly PC'd my Plat Plus (formerly secured) to the Acc. Rewards about a week ago. Still hasn't changed on the website or showed up in the mail. I won't believe it until I buy something with it.

Re: Bank of America Accelerated Cash Rewards AMEX

Anonymous — Fri, 30 Jan 2009 04:42:21 GMT

Oh, the temptation is so great to PC to this card for the cashback rewards. But I just PCd to the worldpoints in October. I don't know how BoA would feel about me changing my mind so soon. Mighty nice cashback rewards, though. And without the Amex beast shooting venom at ya. What more can you ask for?

@Anonymous wrote:
I have this one too. I just redeemed $50 and only got the card in October. Also, it reports as Bank of America only. It does't show any indication of being an Amex on credit reports. I love the extra warranty coverage, etc that comes with having an "Amex" card even though I'm not having to tip-toe around a real PMSing Amex. :-)

Re: Bank of America Accelerated Cash Rewards AMEX

Anonymous — Fri, 30 Jan 2009 05:03:47 GMT

I have this card. I was nearly declined -- but called and explained some discrepencies between my credit report and application. Was approved for $7500 and just 3 months later asked for (and got) a bump to $10,000. This is nearly double my next closest limit ($5500).

One thing about the accelerate rewards --- it takes more points to purchase things... at least, when I compared my AMEX rewards to BOA WorldPoints it seemed to take more points (especially at the smaller point levels) to get the same things.

Otherwise, I'm in love! Because I will have to charge things for a few months while I'm switching job, I'm planning to give this card a lot of usage.

Re: Bank of America Accelerated Cash Rewards AMEX

wmarat — Fri, 30 Jan 2009 13:39:41 GMT

I have this card. I converted Visa Platinum (former fully secured CC) into BOA Amex and a few months latter converted BOA Amex into Accelerated Cash Rewards. All PC's were painless.

Re: Bank of America Accelerated Cash Rewards AMEX

Anonymous — Fri, 30 Jan 2009 15:00:11 GMT

BOA was more than happy to PC me to this card. It took a while though, and at first, they sent me the wrong CC. I had to call back and have them PC it again.

Re: Bank of America Accelerated Cash Rewards AMEX

Equinox — Fri, 30 Jan 2009 16:15:04 GMT

I have this card and it rocks. Hope you get it!