@drlucy wrote:I saw on Reddit someone mentioned that AOD was planning on reducing their 3% cash back benefit. I hope this isn't true as we put just about everything on this card. I was wondering if anyone here had heard anything about this.
Thanks!
I would say this is false based on my conversation with the assistant branch manager. One thing that became very clear in that Convo is that they don't really care for people just putting $25 in savings to get the card. Meaning they want a more meaningful relationship. So I wouldn't be surprised if Reps are instructed to discourage those kinds of people. I mean they can't really refuse you to apply but they can put doubts in your mind about if it is worth the effort to get this card.
Also, look up their financial stability rating, They are at an A+. No major bank is at that rating and even my other two credit unions are just at an A rating.
Context of course would help a lot here. If it was just a call inquiring if this card will stay at 3% long-term. Meaning that was the first question no interest in any of their services otherwise I think my assumption is dead on.
If AOD needs to make adjustments I think it will be first in minimum amounts in savings accounts to open a membership and then the interest rate on this card. I mean they could raise it 3% and still be super competitive.
@Remedios wrote:
@ptatohed wrote:I just got this card in Nov '21 so you guys are making me quake in my boots that it will be altered.
The Reddit link provided seems to have some already misconceived conceptions so I do question its accuracy. But I do appreciate the OP bringing it up none the less.
I have since reached out to my AOD FCU contact for more clarity. I will report back what she says.
-----------------------
"Hi <A>,
Happy holidays! Happy New Year!
I have been loving this card. Thank you so much for all your help in applying / approval.
There have been some rumors on the myFICO forum that this card will be altered from its current 3% cash back on everything to something lesser. Do you have any input on that, by chance?
Thanks, <ptatohed>
This is why we cannot have good things
Sometimes it is best just to leave Schroedingers Cat in the box, to not open the box, or in this case hit the box with a stick 
@Taurus22 wrote:Well, the bigger problem I see here is this....
Someone starts a wild rumor that this "may" happen. Sure, at any time any card is subject to changes from any lender. But now, rather than everyone chilling out and quietly using their AOD 3% card while holding their breath in hopes that no dust gets stirred......everyone and their uncle's uncle is now calling AOD, freaking out and raising attention to something that may have never been true and actual. But due to the high call volume and constant questions pouring in, (along with references to this forum, which is never good).....this is going to have AOD board members talking about the issue and investigating why there is so much attention on a non-issue.....which then makes it a true issue.
Calm down people. If they nerf it, they nerf it. There is absolutely nothing you can do about it, your phone calls of objection aren't going to change it, and right now you are making the issue worse by raising all this attention. All you can do is prepare for the worst......have a 2% card as a backup or in your plans for application.
+ 1
I often wondered if this was what happened with Amex backdating now almost 7 years ago. People calling in 2014 to have their new account backdated to 1990 when they either charged off a balance or closed the account 
But back to the subject. I want to thank OP for the post; it has been very entertaining!
Anything can happen with rewards; ask original GM Card holders or Citi Dividend account holders about that. Freedom used to work the way Custom Cash works now etc etc. I hold a USAA Limitless Cash Rewards 2.5% Visa; while they did end new applications, we (knock wood) still have our cards. Point being; if AOD does end the 3% cash back, I would almost bet that those of you who got one will be grandfathered and new cardholders will get a lower earning.
In the meantime, no sense in worrying about it; carry on and continue using your cards.
+ 1
I often wondered if this was what happened with Amex backdating now almost 7 years ago. People calling in 2014 to have their new account backdated to 1990 when they either charged off a balance or closed the account
But back to the subject. I want to thank OP for the post; it has been very entertaining!
Anything can happen with rewards; ask original GM Card holders or Citi Dividend account holders about that. Freedom used to work the way Custom Cash works now etc etc. I hold a USAA Limitless Cash Rewards 2.5% Visa; while they did end new applications, we (knock wood) still have our cards. Point being; if AOD does end the 3% cash back, I would almost bet that those of you who got one will be grandfathered and new cardholders will get a lower earning.
In the meantime, no sense in worrying about it; carry on and continue using your cards.
Exactly, why worry about rumors? Always people out there, sometimes out of jealousy, who want to stir the pot. If AOD announces anything then we can discuss it. I have great confidence that AOD is just fine as I stated before, they are as healthy as a financial institution can be. In the top 100 credit unions in the country as far as that goes.
@wasCB14 wrote:
@Aim_High wrote: ... my guiding principle has normally been to ask "how will this card serve me for the next ten years or longer," not for the next three to six months ...But cards change too frequently to make projections that far out. If Prestige was the same card it was even five years ago (price rewinds, Admirals access, easy 1.6 AA redemptions), I'd be a total Citi/TY/AA fanatic.
It's true that cards change frequently, @wasCB14. Honestly, although I've had credit cards since the early 1980's, I don't think I was ever as aware as I am now about the accuracy of that statement! Of course, for about half of my credit years, there has been little if any information easily available on the internet and there weren't online communities like My Fico to exchange industry trends. It's been an eye-opener.
My perception of the industry is that the "rewards" aspects of credit cards has heated up in the last ten to fifteen years, both in cash back rewards as well as travel points systems. The competition has caused many lenders to constantly reinvent their card programs. I think this is much more true for the premium travel cards like the Prestige card you mentioned. When someone applies for a high-AF card with the understanding that there will be reciprocity from the lender with credits and/or benefits and then those benefits or credits change, I can see why it might dictate the need to question card (or even lender) loyalty. This is why I will continue to be very selective about adding any additional premium cards to my wallet. They are not only expensive and may not be worth the cost, depending on consumer lifestyle and their usage, but they also appear much more volatile. IMO, mid-range and lower cards tend to be more stable, even if they aren't as lucrative, exciting, or exclusive. Examples: the Discover IT, the Citi Double Cash, the Chase Freedom Unlimited; the Capital One Quicksilver; and yes, even the AOD FCU Visa. As opposed to your example of the Prestige, several of these cards have actually enhanced their value over time, such as the Freedom Unlimited gaining 5% back on Chase travel and 3% on dining out and in drugstores.
When I joined My Fico a few years ago to learn more about current trends in credit cards, I knew I wanted to refresh my rewards earnings and I've done that. But to me, that doesn't mean always chasing after the next big thing. As I mentioned in some of the other parts of that message you didn't quote, the rewards are just one aspect of my cards. While some of our members would dump a card over some nerfing of rewards value (or perk), I would tend to stay the course. It's just not worth constantly remaking my profile to try to keep the single best card(s) because it's always a moving target. Just because card programs change around us doesn't mean we have to change our cards. Sometimes, it's best to keep them while we evaluate options.
I've said this many times on the forum, but four of my cards are over 20 years old. Have they always been leading edge in rewards value? No. Three of them started out as basic VISA cards that offered no rewards at all, but twenty years ago, that was a lot more common and if you got 1% cash back, that was the exception. When I had my first American Express card in the 1980's, AMEX didn't even give out MRs yet. However, over the years, I stayed the course and I product-changed all four of them at least once into better cards as banks updated their programs. I didn't get them for a SUB, and SUBs weren't even so common back then. And by keeping them instead of dumping them immediately as I added better cards, I was able to retain the account age and lender relationships. Now, I see those cards as "anchors" in my account age. As I have added about a dozen new cards in the past four years, those old accounts have made my new accounts cause less impact to my average age of accounts. Those cards are my Discover IT, my AFBA/UMB Simply Rewards, my Bank of America Customized Cash Rewards, and my Chase Freedom Unlimited. They're quite valuable to me, not only in terms of age but now rewards as well. That AFBA/UMB card that paid no rewards now can pay 3% cash back (uncapped) on restaurants, gas, groceries (including Discount Stores like Walmart and Target) with no AF. That Bank of America card that paid no rewards now can earn 5.25% on up to $10K annual spend in grocery stores/warehouse clubs and/or my selected monthly category. And that Chase Freedom Unlimited, when combined with my Sapphire Reserve, earns 2.25% in the travel portal or potentially 3% if UR points earned on it are transferred to travel partners. And my Discover card, which back in 1993 didn't quite even earn 1% true cash back due to the original cash back program on the card, now earns up to 5% in selected quarterly categories.
I'll admit: I have opened some cards for short-term gain, such as when I was rolling around some larger card balances during a financial struggle and using special BT offers. Or when I have purchased furniture or appliances and wanted to take advantage of special financing offers. Other than these types of offers, I've never opened a card exclusively for a SUB with no intention of using it past the first few months. And when I have a card that appears to no longer serve my originally-intended purpose, I keep it for for awhile and try to find a use for it, whether by product change or if nothing else to combine the limit into another card with that lender.
I guess the difference is in the level of commitment I have when applying. I look beyond the SUB and I'm willing to stick it out with a card even if it changes, such as when I committed to the Sapphire Reserve and then Chase increased the annual fee, changed the benefits and credits, and the COVID-19 pandemic began. That doesn't mean I'll guarantee I'll never close any card, but it's not done casually.
