BoA premium --> cash rewards downgrade?

[simplynoir]

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@Anonymous wrote:

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@AverageJoesCredit wrote:
I wouldnt try to game Boa for a Sub in todays credit environment even if it were possible.

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Why not?  The card serves no purpose after the annual fee hits. 

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For you it doesn't you mean

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

I downgraded the Premium Rewads card after the annual fee hit and they refunded the annual fee.  I got the no-fee travel rewards card.  

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Interesting and good information.  How long ago did you do this?

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I did this in May.  I asked to close the card because of the annual fee and the CSR said how about a product change.

[Anonymous]

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@simplynoir wrote:

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@Anonymous wrote:

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@AverageJoesCredit wrote:
I wouldnt try to game Boa for a Sub in todays credit environment even if it were possible.

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Why not?  The card serves no purpose after the annual fee hits. 

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For you it doesn't you mean

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For anyone who doesn't have 100k in a BOA account it doesn't make any sense.  2 percent on travel and 1.5 percent on other purchases + annual fee makes it a pretty terrible card.   There are 2 percent cards on everything with no annual fee. 

[FinStar]

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@Anonymous wrote:

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@Anonymous wrote:

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@Anonymous wrote:

I downgraded the Premium Rewads card after the annual fee hit and they refunded the annual fee.  I got the no-fee travel rewards card.  

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Interesting and good information.  How long ago did you do this?

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I did this in May.  I asked to close the card because of the annual fee and the CSR said how about a product change.

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How long was the account open before you downgraded?  PC outcomes definitely can vary such as the link that was provided upthread. 

[simplynoir]

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@Anonymous wrote:

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@simplynoir wrote:

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@Anonymous wrote:

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@AverageJoesCredit wrote:
I wouldnt try to game Boa for a Sub in todays credit environment even if it were possible.

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Why not?  The card serves no purpose after the annual fee hits. 

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For you it doesn't you mean

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For anyone who doesn't have 100k in a BOA account it doesn't make any sense.  2 percent on travel and 1.5 percent on other purchases + annual fee makes it a pretty terrible card.   There are 2 percent cards on everything with no annual fee. 

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If some has to go the route of airline "giftcards" I believe that method still works which makes the AF a wash if a PC isn't in the cards because BofA is doing BofA things and the person does not want to close the card. I do agree with the larger point you made though.

[Anonymous]

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@Anonymous wrote:

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I did this in May.  I asked to close the card because of the annual fee and the CSR said how about a product change.

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Good info!  How long after the AF hit did you request a PC?  Did you just ask once, or did it take multiple attempts?  Did you get a $500 SUB for opening the account?

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

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I did this in May.  I asked to close the card because of the annual fee and the CSR said how about a product change.

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Good info!  How long after the AF hit did you request a PC?  Did you just ask once, or did it take multiple attempts?  Did you get a $500 SUB for opening the account?

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I was within a couple of days of the AF hitting.  I did not  make any requests to product change.  I just called to cancel and she suggested product changing.  I didn't really care if they just closed it as I have over $350k in limits and don't carry balances.  Really I would have preferred closing it but as I told her the reason I wanted to cancel was the annual fee it seemed like a product change would be hard to argue against.  Yes I did get the $500 Sub and I put zero spend on the card after receiving the bonus. 

I tried to sign up for a second Premium Rewards card right after PC went through but I got denied for too many new accounts.  I was wondering if a PC would allow me to get a second one within 24 months.  

[Anonymous]

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@Anonymous wrote:

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Yes I did get the $500 Sub and I put zero spend on the card after receiving the bonus. 

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Wow, sounds like they definitely didn't make anything off of you!  Interesting that they were the ones to suggest the PC as an option to closing the account to avoid the AF.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

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Yes I did get the $500 Sub and I put zero spend on the card after receiving the bonus. 

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Wow, sounds like they definitely didn't make anything off of you!  Interesting that they were the ones to suggest the PC as an option to closing the account to avoid the AF.

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They make plenty off of me.  I direct deposit around $8k a month. Have been direct depositing my paycheck for 25 years.  

[Anonymous]

I hear that, I just mean with respect to just that CC.