topic Bye bye PRG in Credit Cards

Bye bye PRG

CS800 — Wed, 13 Nov 2013 16:25:52 GMT

Finally called and cancelled my AMEX PRG. Wasn't using it at all since I got the BOA 123 Privileges which has become my go to card.

At least $175 AF I won't be paying. First card that I cancelled in 3 years. At least I won't lose the age on it, it is my oldest card.

Re: Bye bye PRG

FutureBillionaire — Wed, 13 Nov 2013 17:04:29 GMT

@CS800 wrote:
Finally called and cancelled my AMEX PRG. Wasn't using it at all since I got the BOA 123 Privileges which has become my go to card.

At least $175 AF I won't be paying. First card that I cancelled in 3 years. At least I won't lose the age on it, it is my oldest card.

I'm getting rid of mine next year. The annual fee is ridiculous.

How did you qualify for the privileges card?

Re: Bye bye PRG

navigatethis12 — Wed, 13 Nov 2013 17:39:15 GMT

I have to say, American Express makes it very easy to close accounts. Other issuers will try to keep you by offering something or telling you about special offers that may be coming, but they just cancel it right away as you requested. The telephone call lasted less than one minute.

Re: Bye bye PRG

Anonymous — Wed, 13 Nov 2013 17:43:48 GMT

@navigatethis12 wrote:
I have to say, American Express makes it very easy to close accounts. Other issuers will try to keep you by offering something or telling you about special offers that may be coming, but they just cancel it right away as you requested. The telephone call lasted less than one minute.

I've closed Chase, Barclays and Citi cards by email, with no hassle. In the Citi case, I had actually wanted a negotiation, so I learned that email wasn't the way!

Re: Bye bye PRG

CS800 — Wed, 13 Nov 2013 17:54:44 GMT

@navigatethis12 wrote:
I have to say, American Express makes it very easy to close accounts. Other issuers will try to keep you by offering something or telling you about special offers that may be coming, but they just cancel it right away as you requested. The telephone call lasted less than one minute.

I was about 2 minutes total time to closure, no hassle, no question asked

Re: Bye bye PRG

CS800 — Wed, 13 Nov 2013 17:56:38 GMT

@FutureBillionaire wrote:
@CS800 wrote:
Finally called and cancelled my AMEX PRG. Wasn't using it at all since I got the BOA 123 Privileges which has become my go to card.

At least $175 AF I won't be paying. First card that I cancelled in 3 years. At least I won't lose the age on it, it is my oldest card.

I'm getting rid of mine next year. The annual fee is ridiculous.

How did you qualify for the privileges card?

Same as you would qualify for any BOA card but the privileges has an AF of $75. The Privileges has no FOREX fees

They offerred me the privileges with no AF and a very nice CL

Re: Bye bye PRG

FutureBillionaire — Wed, 13 Nov 2013 18:25:23 GMT

@CS800 wrote:
@FutureBillionaire wrote:
@CS800 wrote:
Finally called and cancelled my AMEX PRG. Wasn't using it at all since I got the BOA 123 Privileges which has become my go to card.

At least $175 AF I won't be paying. First card that I cancelled in 3 years. At least I won't lose the age on it, it is my oldest card.

I'm getting rid of mine next year. The annual fee is ridiculous.

How did you qualify for the privileges card?
Same as you would qualify for any BOA card but the privileges has an AF of $75. The Privileges has no FOREX fees

They offerred me the privileges with no AF and a very nice CL

I'm signing up for it now through chat. Thanks for posting this. I converted to the travel rewards from the original cash rewards, but I don't use it.

Re: Bye bye PRG

Anonymous — Wed, 13 Nov 2013 18:43:44 GMT

Canceling AMEX Charge Cards don't affect AAOA right? I originally apped for the AMEX Green to see where I stand with them. Instant approval, ran 5 G's for a down payment to a car and PIF. Just wanted to get my foot in with them and get either a BCP or BCE, then cancel the Green. Can anything bad happen from canceling a charge card?

Re: Bye bye PRG

Anonymous — Wed, 13 Nov 2013 18:44:31 GMT

What is the attraction of this card? The 50% bonus vs 10% for normal? Doesn't seem to make sense unless you get the fee waived?

So, maxing out the 3% category, $6K spend a year so $180 in rewards. You get 40% extra of that, = $72, and the AF is $75 ANd that is best case since they have this combined $1,500 calculation.

(And yes, you get more on the 1% spend, but you can get 1.5% or 2% on all spend with Cap One/Fidelity, so I don't count that!)

What am I missing? Or is this a different card?

Re: Bye bye PRG

FutureBillionaire — Wed, 13 Nov 2013 18:55:12 GMT

@Anonymous wrote:
What is the attraction of this card? The 50% bonus vs 10% for normal? Doesn't seem to make sense unless you get the fee waived?

So, maxing out the 3% category, $6K spend a year so $180 in rewards. You get 40% extra of that, = $72, and the AF is $75 ANd that is best case since they have this combined $1,500 calculation.

(And yes, you get more on the 1% spend, but you can get 1.5% or 2% on all spend with Cap One/Fidelity, so I don't count that!)

What am I missing? Or is this a different card?

I opened BofA cards when I was first starting out in the credit game. This card is an older account for me. I would like to get more perks, if I can get them without an annual fee.

Re: Bye bye PRG

navigatethis12 — Wed, 13 Nov 2013 18:58:47 GMT

@Anonymous wrote:

I've closed Chase, Barclays and Citi cards by email, with no hassle. In the Citi case, I had actually wanted a negotiation, so I learned that email wasn't the way!

I'm always told it has to be by telephone. Interesting to know this isn't always the case.

@CS800 wrote:
@navigatethis12 wrote:
I have to say, American Express makes it very easy to close accounts. Other issuers will try to keep you by offering something or telling you about special offers that may be coming, but they just cancel it right away as you requested. The telephone call lasted less than one minute.
I was about 2 minutes total time to closure, no hassle, no question asked

Quick and efficient is the way to be.

Re: Bye bye PRG

Anonymous — Thu, 14 Nov 2013 05:43:56 GMT

I like my PRG a lot, but I don't value MR highly enough to justify the fee. Nor do I spent $30,000 a year on my cards, let alone just one. I will most likely downgrade to Green or cancel altogether when the time comes.

Re: Bye bye PRG

leoment — Thu, 14 Nov 2013 06:15:15 GMT

@Anonymous wrote:
What is the attraction of this card? The 50% bonus vs 10% for normal? Doesn't seem to make sense unless you get the fee waived?

So, maxing out the 3% category, $6K spend a year so $180 in rewards. You get 40% extra of that, = $72, and the AF is $75 ANd that is best case since they have this combined $1,500 calculation.

(And yes, you get more on the 1% spend, but you can get 1.5% or 2% on all spend with Cap One/Fidelity, so I don't count that!)

What am I missing? Or is this a different card?

As a Bank of America customer, these cards (the Cash & Travel Rewards) cards are nice, especially if you meet the minimum deposit requirements and don't have to pay an AF for them.

Speaking only about the Travel card, having a 2.2% cashback card on EVERYTHING with no Forex + EMV is pretty nice in my book. I probably wouldn't feel the same way if I did actually have to pay the $75 though.

Re: Bye bye PRG

leoment — Thu, 14 Nov 2013 06:19:13 GMT

Congrats! It's a beautiful card (I still have mine stashed away in an old wallet), but ultimately if you aren't putting major spend in the bonus categories it's not worth the $175.

Enjoy the Privileges card - I know BOA tends to have spotty reviews, but I've found every phone call for questions about my account to be pleasant (probably b/c of the dedicated # for these products)

Re: Bye bye PRG

Repo-ed — Thu, 14 Nov 2013 11:09:33 GMT

I'm closing my PRG in January.

Hoping for the 100K MR Plat. deal shortly there after.

Re: Bye bye PRG

FutureBillionaire — Thu, 14 Nov 2013 22:10:49 GMT

They wouldn't give me the card without an annual fee. (BofA privileges.) I changed my travel rewards back to the cash rewards so I can use it at Target. I'm not

I need an Amex revolver to get in January to replace my PRG. I've not yet decided what I will get. I like the backdating feature and want to take advantage of it.