topic Re: Best Discontinued Credit Card? in Credit Cards

Best Discontinued Credit Card?

Anonymous — Mon, 21 Aug 2017 23:44:21 GMT

I'm a little upset I missed out on getting a Better Balance Rewards card from Bank of America. Actually I'm a little upset I missed out on getting five of those cards.

Whats a card that is discontinued that you wish you could have now?

Re: Best Discontinued Credit Card?

Anonymous — Mon, 21 Aug 2017 23:55:30 GMT

What's so good about BBR? Isn't that the card that gives you $25 statement credit per quarter if you have a BoA checking account or something?

Re: Best Discontinued Credit Card?

Anonymous — Mon, 21 Aug 2017 23:56:55 GMT

$25 per quarter if you pay every bill on time. With 5 of those cards (like some people on YouTube), you get a free $500 a year for doing nothing but making a small purchase every 3 months and paying it in full.

Re: Best Discontinued Credit Card?

galahad15 — Tue, 22 Aug 2017 00:00:29 GMT

For me, it would have to be the Direct Merchants Bank Titanium card: each individual purchase came with a 90-day grace period, regardless of the amount spent, no AF. Alas, as they say, all good things come to an end...

Re: Best Discontinued Credit Card?

Themanwhocan — Tue, 22 Aug 2017 00:03:35 GMT

Chase Cash Plus Rewards card. 5% on Grocery, Gas, and Drugstores.

Re: Best Discontinued Credit Card?

galahad15 — Tue, 22 Aug 2017 00:04:02 GMT

Weren't there a few recent threads though that mentioned BoA as either clawing back part of the $25 quarterly rewards or reducing the amount rewarded per quarter, if people didn't charge more than $25 each month?

Re: Best Discontinued Credit Card?

DeeBee78 — Tue, 22 Aug 2017 00:06:53 GMT

@Anonymous wrote:
I'm a little upset I missed out on getting a Better Balance Rewards card from Bank of America. Actually I'm a little upset I missed out on getting five of those cards.

Whats a card that is discontinued that you wish you could have now?

BoA cuts most people off at four cards now. Personally, I can't think of five small monthly recurring charges, so I'm good with the one I have for Netflix.

I wouldn't mind having a Diner's Club card. It's a hidden tradeline, so you get a nice place to stash an unreporting balance if you need to. It's not necessairly discontinued, but they haven't allowed new applications in years.

Re: Best Discontinued Credit Card?

galahad15 — Tue, 22 Aug 2017 16:03:14 GMT

Also: there were a few threads/posts from not too long ago IIRC where where people who had large multiples of the BBR ended up getting some closed out by BoA -- for example, the poster here who formerly had 7 BBRs?

Re: Best Discontinued Credit Card?

DeeBee78 — Tue, 22 Aug 2017 00:09:44 GMT

@galahad15 wrote:
Weren't there a few recent threads though that mentioned BoA as either clawing back part of the $25 quarterly rewards or reducing the amount rewarded per quarter, if people didn't charge more than $25 each month?

I personally have not heard that. I have been using it for $7.99 - $9.99 a month for almost 2 years now (Netflix), and I get $30 a quarter for depositing to a BoA checking account.

I have heard stories of BoA randomly waiving $1 - $4 transaction amounts, so there's no balance due, which prevents you from getting the credit for that quarter. Sneaky, sneaky.

Re: Best Discontinued Credit Card?

AverageJoesCredit — Tue, 22 Aug 2017 01:13:33 GMT

Im suprised no one's mentioned their precious Sallie Mae

Re: Best Discontinued Credit Card?

CreditCuriosity — Tue, 22 Aug 2017 01:58:01 GMT

@AverageJoesCredit wrote:
Im suprised no one's mentioned their precious Sallie Mae

Beat me to it.. RIP SM and commence the piece of crud commence card as a replacement that swiftly got chopped from my collection.

Re: Best Discontinued Credit Card?

Gunnar419 — Tue, 22 Aug 2017 02:07:08 GMT

@AverageJoesCredit wrote:
Im suprised no one's mentioned their precious Sallie Mae

Yep, I was about to mention sweet Sallie, also. Poor, departed Sallie Mae and her 5% on groceries, gas, and books (aka everything at Amazon). I look at that Commence card in my sock drawer and I want to spit on it.

We all knew Sallie was too good though, and don't they say the good die young?

Re: Best Discontinued Credit Card?

DeeBee78 — Tue, 22 Aug 2017 02:22:46 GMT

@AverageJoesCredit wrote:
Im suprised no one's mentioned their precious Sallie Mae

Eh, I was going to mention it, but I'm no fan of Barclays. Every time I started to write something, it went from constructive to rant.

Re: Best Discontinued Credit Card?

jamie123 — Tue, 22 Aug 2017 03:01:16 GMT

I have a AMEX Zync charge card. It has a white background with blue lettering and AMEX discontinued the card about 5 years ago so you hardly ever see them. Every time I use it, it is noticed and people wonder what kind of AMEX card it is even though when it was originally offered it was lower tiered than the green AMEX charge card. It is truly a unicorn and special because you can't get it anymore no matter how good your credit score is!

AMEX only offered the Zync card from 2009 to 2012 so there are not many in circulation.

Re: Best Discontinued Credit Card?

Anonymous — Tue, 22 Aug 2017 03:51:32 GMT

@Anonymous wrote:
$25 per quarter if you pay every bill on time. With 5 of those cards (like some people on YouTube), you get a free $500 a year for doing nothing but making a small purchase every 3 months and paying it in full.

Seems like a lot of hassle for small reward. I mean 5 new accounts for 500 dollars. You can get more than that out of one card.

Re: Best Discontinued Credit Card?

Anonymous — Tue, 22 Aug 2017 11:09:04 GMT

@Themanwhocan wrote:
Chase Cash Plus Rewards card. 5% on Grocery, Gas, and Drugstores.

Hmm... I wonder what they'd say if I asked to PC to it.

Re: Best Discontinued Credit Card?

Anonymous — Tue, 22 Aug 2017 11:47:33 GMT

For my use, without a doubt the Barclay Sallie Mae MC. May she rest in piece. There are few cards that made the small purchaser's life easier than this card. Many MyFico'ers found alternatives but for me, the small purchaser the options are fewer. Thank heavens the USAA Limitless Cash Rewards VS came along. It helps for the small purchaser.

Re: Best Discontinued Credit Card?

Anonymous — Tue, 22 Aug 2017 12:30:58 GMT

@Anonymous wrote:
@Anonymous wrote:
$25 per quarter if you pay every bill on time. With 5 of those cards (like some people on YouTube), you get a free $500 a year for doing nothing but making a small purchase every 3 months and paying it in full.
Seems like a lot of hassle for small reward. I mean 5 new accounts for 500 dollars. You can get more than that out of one card.

Five new accounts for $500 per year, not a one time thing like a signup bonus.

Re: Best Discontinued Credit Card?

pizza1 — Tue, 22 Aug 2017 19:57:23 GMT

@jamie123 wrote:
I have a AMEX Zync charge card. It has a white background with blue lettering and AMEX discontinued the card about 5 years ago so you hardly ever see them. Every time I use it, it is noticed and people wonder what kind of AMEX card it is even though when it was originally offered it was lower tiered than the green AMEX charge card. It is truly a unicorn and special because you can't get it anymore no matter how good your credit score is!

AMEX only offered the Zync card from 2009 to 2012 so there are not many in circulation.

I always wanted the Zynch just for the look of the card...super cool!! LOL...but, Ill mention Sallie Mae, even though I never really used it like it should have been used, LOL.

Re: Best Discontinued Credit Card?

DeeBee78 — Tue, 22 Aug 2017 20:49:55 GMT

@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
$25 per quarter if you pay every bill on time. With 5 of those cards (like some people on YouTube), you get a free $500 a year for doing nothing but making a small purchase every 3 months and paying it in full.
Seems like a lot of hassle for small reward. I mean 5 new accounts for 500 dollars. You can get more than that out of one card.
Five new accounts for $500 per year, not a one time thing like a signup bonus.

Some clarification on the BBR: You have to have a statement generate every month to receive the $25 or $30 quarterly reward. This means you need to make a small charge every month (like I do) or carry a balance that could be interest bearing. Using it to make one small purchase a quarter isn't going to work, unless that purchase is at least $75 and you're willing to pay it off over three months.

If you're making a small purchase less than $25 every month, you have to pay that in full. If you have a balance on the card more than $25, you have to make at least a $25.01 payment on the balance. I would not suggest carrying any balance on the card after the introductory 0% APR, as it eats into your bonuses.

The best way to use this card (after the intro APR expires) is for a small recurring charge of $5 or more a month, or by taking advantage of their BT offers that they still give out to some people. Just make sure you're paying at least $25.01 on those balance transfers, or once again, you won't get the bonus.

BoA probably thought people carrying an interest-bearing balance would offset the fees of the card, but I think a lot of people figured out really quickly that they could make up to $120 a year by putting their Netflix charges on it. I'm not surprised the card only lasted four years, and I hope they don't nerf it down the road