AOD Nerf has come

[CreditCuriosity]

Please see attached AOD Nerf has come.. Not bad interest rate increased from 7.49 fixed to 9.5 fixed (still very good for reward card in these conditions!)

Also 3% capped at $1500/mo.   Bigger nerf, but still takes care of my normal uncat spend granted some larger purchases might need to see other cards, but still not as bad as it could of been.

Overall likely needed and hopefully last one and not more to come.  Thought would share it all.  I saw it in mail coming today and had a bad feeling about it.  Anyways not totally awful.

edit misread didnt see prime plus 9.5 that is a big change from 7.49.. Anyways don't carry balances and max out 3% up to 1500/mo..  

[jb90]

RIP got the letter today too

[SouthJamaica]

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@CreditCuriosity wrote:

Please see attached AOD Nerf has come.. Not bad interest rate increased from 7.49 fixed to 9.5 fixed (still very good for reward card in these conditions!)

Also 3% capped at $1500/mo.   Bigger nerf, but still takes care of my normal uncat spend granted some larger purchases might need to see other cards, but still not as bad as it could of been.

Overall likely needed and hopefully last one and not more to come.  Thought would share it all.  I saw it in mail coming today and had a bad feeling about it.  Anyways not totally awful.

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From the day we learned of this card, we all knew it wasn't sustainable, and couldn't last. But as you point out, the change is not that bad.  To have a cap of $1500 month on 3% cashback for non-category spend... is still the best deal around.

The interest rate of 9.5% plus prime is decent for a rewards card. But no one should be carrying balances on a card like this anyway, since the interest would defeat the purpose of the cash back reward.

[ptatohed]

:cry:  :cry:  :cry:  :cry:  :cry:  :cry:  

I don't care about the interest rate but the $1500 cap is way too low for me.  

Well, this ruined my day, thank you @CreditCuriosity , lol.  

[CreditCuriosity]

Ya stinks but many people would still kill for this card.  Cap sucks as some months have 7kish non cat spending.  Normally it likely will get me by as monthly not quarterly.   Nerf none the less.  I can't tell you how much money this card has made me in the 4 years I think I have had it lol.

So $45 / mo cashbax max at 3% or up to $540 / yr if maxed perfectly a year.   The card certainly has given me close to 10k cash back would have to calculate one of these days..   Sad day.

[redpat]

Another FOTM bites the dust.

Now becomes just another card in the SD for many.

Bad week for CUs and their members.

Good new is that there isn't any bad news on the travel side of rewards, yet!

[CreditCuriosity]

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@redpat wrote:

Another FOTM bites the dust.

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This one lasted for 4 years at least(would have to search when i was approved as statements only go back 3 years online).  Well worth the account and still is to a lesser extent.  So it was very long lived imho.

[Anonymous]

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@CreditCuriosity wrote:

Ya stinks but many people would still kill for this card.  Cap sucks as some months have 7kish non cat spending.  Normally it likely will get me by as monthly not quarterly.   Nerf none the less.  I can't tell you how much money this card has made me in the 4 years I think I have had it lol.

So $45 / mo cashbax max at 3% or up to $540 / yr if maxed perfectly a year.   The card certainly has given me close to 10k cash back would have to calculate one of these days..   Sad day.

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I think fewer people will kill for it (unless they are inclined that way anyway, no judgement..)  A fair comparison is against a 2% card, and then the extra reward is $15 a month, or $180 a year, assuming remembering to switch as soon as $1,500 is reached.   While $15 a month is more than enough to get some MyFico excited, this really is a major nerf IMO.

[ptatohed]

Oh boy.  Time to start dusting off the cobwebs on my Double Cash (2.22%/2.0%), start using my upgrade Cash Rewards Elite (2.2%), and/or start looking into BoA Platinum Honors / Unlimited Cash Rewards (2.63%).  

Sad day indeed.  

[ptatohed]

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@CreditCuriosity wrote:

Ya stinks but many people would still kill for this card.  Cap sucks as some months have 7kish non cat spending.  Normally it likely will get me by as monthly not quarterly.   Nerf none the less.  I can't tell you how much money this card has made me in the 4 years I think I have had it lol.

So $45 / mo cashbax max at 3% or up to $540 / yr if maxed perfectly a year.   The card certainly has given me close to 10k cash back would have to calculate one of these days..   Sad day.

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Yup.  I don't think I'll even carry it in my wallet anymore.  I'll just come up with $1500 worth of monthly auto-pay bills and call it a day.