topic Re: FIA Card Services changing to BofA North Carolina in Credit Cards

FIA Card Services changing to BofA North Carolina

linux007969 — Fri, 09 May 2014 03:11:38 GMT

Today in the mail i got a thick envelope from Bank of America and when i opened it it looked like some new account terms, the first page of the letter was saying that my credit card issued by FIA Card Services in Delaware is changing to Bank of America North Carolina in October.

It was for my Better Balance Rewards card and it indicated that I may be recievng more than letter if i have another account (my Cash Rewards card.... maybe?)

So is Bank of America getting rid of FIA or is FIA going to be seperate like GE is doing or what? Anyone know?

Re: FIA Card Services changing to BofA North Carolina

Anonymous — Fri, 09 May 2014 03:13:48 GMT

Thanks for the info. First I heard of it. Truth FIA Card Services can go jump in a river.

Re: FIA Card Services changing to BofA North Carolina

Anonymous — Fri, 09 May 2014 03:15:40 GMT

Got the same thing for my Fidelity Amex a couple days back.

Re: FIA Card Services changing to BofA North Carolina

sadiespapa — Sat, 10 May 2014 00:04:29 GMT

Now that they sold most of their agent bank credit card operation to US Bank/Elan, they dont need to keep the "FIA" name around to distance themselves from customers of those types of cards.

At least, thats my theory.

Re: FIA Card Services changing to BofA North Carolina

Creditaddict — Sat, 10 May 2014 00:12:03 GMT

Hopefully this means the Fidelity card will now be under the Bank of America Website with our other BofA card because the FIA website is like im back in middle school it's so old and outdated.

Re: FIA Card Services changing to BofA North Carolina

linux007969 — Sat, 10 May 2014 00:12:32 GMT

@sadiespapa wrote:
Now that they sold most of their agent bank credit card operation to US Bank/Elan, they dont need to keep the "FIA" name around to distance themselves from customers of those types of cards.

At least, thats my theory.

That seems to make some scence. Does that mean all the FIA employees are full BofA employees now? or are they simply out of a job?

Also what would happen to my Merrill Edge accounts, cuz i've noticed when the money sweeps in my accounts it shows that it goes to FIA Card Services?

Re: FIA Card Services changing to BofA North Carolina

sadiespapa — Sat, 10 May 2014 00:16:03 GMT

I'd be willing to bet that if there were any job losses, they happened over a year ago, as the agent-issued cards transitioned to Elan at the end fo 2012 I think. This latest news is simply a name change.

I havent quite figured out why the merrill edge sweep option puts the money in FIA Card Services. Seems strange to me but there might be some regulatory reason behind it. Likely the only effect you will see is the name change from FIA to Bank of America.

Re: FIA Card Services changing to BofA North Carolina

linux007969 — Sat, 10 May 2014 00:26:17 GMT

@sadiespapa wrote:
I'd be willing to bet that if there were any job losses, they happened over a year ago, as the agent-issued cards transitioned to Elan at the end fo 2012 I think. This latest news is simply a name change.

I havent quite figured out why the merrill edge sweep option puts the money in FIA Card Services. Seems strange to me but there might be some regulatory reason behind it. Likely the only effect you will see is the name change from FIA to Bank of America.

I hope its just a name change too..... a actuall name change and nothing more, unlike what GE is upto.

My checks for my Merrill CMA account say "Merrill Edge a Bank of America Corporation" on them no FIA that i can see, so that's all fine.

I do know recently Bofa has been mailing me balance transfer/cash advance check offers like every week or every other week like crazy lately, they actually say Bank of America on them, where as the ones that came with my bill in the mail said FIA Card Services.

I do find it very strange that a non bank credit card division can issue checks to be drawn from their accounts, i guess since they are apart of BofA i guess maybe the FDIC lets it slide. LOL.

Re: FIA Card Services changing to BofA North Carolina

wacdenney — Sat, 10 May 2014 02:12:17 GMT

This was part of a change in account terms legal notice I recieved from BofA on 04/20/2014

Followed by some legal mumbo jumbo...

Re: FIA Card Services changing to BofA North Carolina

bobbay — Sat, 10 May 2014 02:53:25 GMT

FIA is just a corp structure that operated under boa. it is the old MBNA credit card biz. as they integrate and streamline operations old businesses get folded into the primary business. just my guess

Re: FIA Card Services changing to BofA North Carolina

linux007969 — Sat, 10 May 2014 03:25:16 GMT

@bobbay wrote:
FIA is just a corp structure that operated under boa. it is the old MBNA credit card biz. as they integrate and streamline operations old businesses get folded into the primary business. just my guess

So Bank of America is disolving FIA as its past its usefulness to them and it ran its course basically?

Re: FIA Card Services changing to BofA North Carolina

sexy_kitten7 — Sat, 10 May 2014 21:11:54 GMT

@linux007969 wrote:
@bobbay wrote:
FIA is just a corp structure that operated under boa. it is the old MBNA credit card biz. as they integrate and streamline operations old businesses get folded into the primary business. just my guess
So Bank of America is disolving FIA as its past its usefulness to them and it ran its course basically?

No. FIA was wholly owned by BoA. BoA is now renaming FIA to BoA. The state of incorporation is changing but that's it.

Re: FIA Card Services changing to BofA North Carolina

ficobgtx — Sun, 11 May 2014 13:48:57 GMT

@sexy_kitten7 wrote:
@linux007969 wrote:
@bobbay wrote:
FIA is just a corp structure that operated under boa. it is the old MBNA credit card biz. as they integrate and streamline operations old businesses get folded into the primary business. just my guess
So Bank of America is disolving FIA as its past its usefulness to them and it ran its course basically?
No. FIA was wholly owned by BoA. BoA is now renaming FIA to BoA. The state of incorporation is changing but that's it.

Not so sure about that... It also says the company they "partner with for travel, retail and assistance benefits will change." There is a website setup to review the changes, but you have to put the first 10 digits of your card, and mine are all in the SD and I am traveling so I can't view right now.

Re: FIA Card Services changing to BofA North Carolina

ztnjpv — Sun, 11 May 2014 17:45:31 GMT

creditaddict said:

"Hopefully this means the Fidelity card will now be under the Bank of America Website with our other BofA card because the FIA website is like im back in middle school it's so old and outdated."

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Ha. Funny, this is exactly why I came to MyFico today. I'm in the same boat. Do you know if the website will indeed be changing??

Re: FIA Card Services changing to BofA North Carolina

Anonymous — Sun, 11 May 2014 19:19:08 GMT

Awesome. State of the art! FIA can take a hike. Loved MBNA America but FIA is something else...

Re: FIA Card Services changing to BofA North Carolina

Revelate — Sun, 11 May 2014 19:52:22 GMT

@ztnjpv wrote:
creditaddict said:

"Hopefully this means the Fidelity card will now be under the Bank of America Website with our other BofA card because the FIA website is like im back in middle school it's so old and outdated."

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Ha. Funny, this is exactly why I came to MyFico today. I'm in the same boat. Do you know if the website will indeed be changing??

Heh, not so funny: I was near horrified to find out on the Fidelity Amex approval that I was stuck with a less than stellar online payment option and no mobile app that I could find. Good grief even my random CU's have a mobile app in some csses for several years.

I'd love if it switched to the BOFA interface, I still think their online / mobile presense is among the best, likewise for several years.

Re: FIA Card Services changing to BofA North Carolina

trumpet-205 — Sun, 11 May 2014 19:58:09 GMT

@Revelate wrote:
Heh, not so funny: I was near horrified to find out on the Fidelity Amex approval that I was stuck with a less than stellar online payment option and no mobile app that I could find. Good grief even my random CU's have a mobile app in some csses for several years.

I'd love if it switched to the BOFA interface, I still think their online / mobile presense is among the best, likewise for several years.

True, very true. Using BofA online interface would've been a big plus to it.

Re: FIA Card Services changing to BofA North Carolina

Anonymous — Sun, 11 May 2014 23:59:16 GMT

@ficobgtx wrote:
Not so sure about that... It also says the company they "partner with for travel, retail and assistance benefits will change." There is a website setup to review the changes, but you have to put the first 10 digits of your card, and mine are all in the SD and I am traveling so I can't view right now.

Curious.. what is the website? Guessing that was something in the mailer. Haven't seen anything yet in my mail.

Re: FIA Card Services changing to BofA North Carolina

ficobgtx — Mon, 12 May 2014 00:09:32 GMT

@Anonymous wrote:
@ficobgtx wrote:
Not so sure about that... It also says the company they "partner with for travel, retail and assistance benefits will change." There is a website setup to review the changes, but you have to put the first 10 digits of your card, and mine are all in the SD and I am traveling so I can't view right now.
Curious.. what is the website? Guessing that was something in the mailer. Haven't seen anything yet in my mail.

Thought it was I'm someone's screenshot earlier in this thread, but it isn't. Here it is: https://www.benefitinformationcenter.com

I just got the email this morning.

Re: FIA Card Services changing to BofA North Carolina

Anonymous — Mon, 12 May 2014 00:38:33 GMT

@ficobgtx wrote:
Thought it was I'm someone's screenshot earlier in this thread, but it isn't. Here it is: https://www.benefitinformationcenter.com

I just got the email this morning.

Thanks. Hmm.. I was hoping there would be some reference to the change but I guess it's handy to have the benefits listed. After you punch in a card, the linked T&C PDFs still reference FIA CS.