Discontinued Cards Question

[4sallypat]

When the IHG Rewards MC by Chase came out with the $49 AF and free night every anniversary year, it was removed and new customers were directed to their no AF or $89 AF IHG cards.

Been getting a lot of emails and mailers to upgrade my $49 AF to $89 AF IHG® Rewards Club Premier Credit Card - I have not elected not to do so because the $49 fee covers the cost of the card with a free night.

I love the card I started with even though it's no longer being offered.

[Anonymous]

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@Anonymous wrote:

@Anonymous You've peaked my interest. Lol What was so great about the Citi Forward card?

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It offered 5x Thank You Points (TYP) on dining, movies, music and most criticially "bookstores", which included everything on Amazon.  TYPs weren't as useful as they are for some now but for various redemption options they were equal to 1 point = 1c, leading to uncapped 5% on dining and Amazon.   At the time, the Chase Amazon card only offered 3%, so Citi Forward was better than the cobranded card.

It also had some rewards for "using credit wisely"

• Quarter percent purchase APR reduction when making a purchase, staying under the credit line and paying on time three billing periods in a row
• 100 ThankYou Points each billing period for paying on time and staying under the credit line

[Aim_High]

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@Anonymous wrote:

So I was reading another OP's thread, which brought about a question... So, regarding cards issued by the Big 5 -- if you have one of their cards... Say I have a Citi DC... or a BoA CR... And they discontinue DC & CR... Would Citi & BOA offer to convert them to some other card, or just close them out? 🤔

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@Anonymous, I've closed cards or had cards closed by the lender but if I'm not mistaken, in my 35+ years of credit, I've never had a card just closed by a lender due to a change in their card offerings.  I believe I was always grandfathered-in on the old program or the card was product-changed.  If you're a good customer, they will want to keep your business!  I have four cards between 20 and 27 years old and they've all had product changes, and all initiated by me as better card programs came along. 

The reasons I've had cards closed by the lender in the past were mainly due to non-usage.  When I was carrying some large debts in the midst of a protracted and unexpected career change with higher utilization, I experienced some 'balance-chasing' and a couple of closed accounts.  But that had nothing to do with a change in product line. 

[cashorcharge]

My BofA Rewards card is no longer offered. It's so old, I couldn't find a pic to use in my siggy so I'm using the CR which is inaccurate. I've had the card since 2003. Last year I received 3 CLI's and use the card regularly without issue. 

I have called over the years to do a PC (product change) and each time was told that was not an option on my account. So it still sits, still used and no issues and no option to upgrade to a better rewards option. 

Though no longer offered, it's not an issue so perhaps trying calling your bank  and see if a PC is available. Usually the account number and aging will stay the same but the actual card, expiration date and rewards may change. As this is a YEMV, make sure to ask those questions in advance of saying YES!

[Anonymous]

@cashorcharge THREE CLI's in one year?! BoA just sounds better and better each time I hear/read about it! Lol Very nice indeed!

[Anonymous]

@Aim_High Oh my... You have a 27 YEAR OLD card?! That is very impressive. Lol I'm sure you baby that one! 😂

[Aim_High]

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@Anonymous wrote:

@Aim_High Oh my... You have a 27 YEAR OLD card?! That is very impressive. Lol I'm sure you baby that one! 😂

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I don't know about 'baby' but I do highly value it, @Anonymous!  She will be 28 years old in June.     Getting to see your cards "grow up" is one of the perks of getting old!  Lol

If USAA hadn't made me close the joint account card I had with my ex when we divorced, I would have a 33-year old USAA card in June also.   It really annoyed me to lose that account age.  Some other lenders allowed us to break up the cards and for one person to retain ownership with the account age but USAA required it to be closed. 

I always recommend planning applications for the long-haul, if possible.  SUB-chasing and excessive card-hopping can limit building strong credit profiles and FICO scores.   While there's nothing wrong with taking advantage of SUBs if they are convenient, remember that cards are a financial tool that are worth much more than a mere SUB or the rewards rate.   

[Anonymous]

I think DC and CB are handled by MC now, but no new applications are being taken.

The bigger issue would be finding merchants who would take DC or CB in "native" mode.  The card is MC so they take it as MC. DC and CB have been assimilated.

I agree that it's sad when icons of the past fall to changing tastes -- I had both DC and CB at one point -- but that's the nature of the market.  

Go over the Amazon Prime Video and watch "The Man from the Diners Club" and reminisce.

[Anonymous]

@Aim_High LOL... I turn 31 in a few days, and I think of myself as well aged already. 😁 That Discover of yours is a beautiful card indeed. I wasn't aware Discover went so high... Is $50,000 their ceiling? Do you still use/like both Discover & USAA? Those are actually the only two accounts I own in my own name. Plus a Dell account... I think I like USAA more than Discover...

June I get to request my first CLI on both Discover AND USAA... #Excited

[coldfusion]

Let's not stray too far off of topic everyone.  The thread is about outcomes when a card is discontinued and not a discussion about who has the oldest card.

BoA has a track record of maintaining the accounts of current cardholders when a card is discontinued for a number of years.  2 relatively recent examples are the BBR and the Merrill+ which they still support without nerfed benefits even though the cards were closed to new applicants in 2H2017.    Similarly, the BarclayUS Arrival+ which was closed, re-opened, and again closed to new applicants is still being supported, still has 0% BT offerings sent out, and recently had a temporary enhancement by adding groceries as a redemption category using points.

A data point regarding Chase is that the old Mileage Plus card that was closed to new applicants when the Explorer was first introduced over 10 years ago was still maintained as-is, only now (in fact, it happens today) is it being converted to the new upcoming mid-tier United offering.

It's more hit-and-miss with Synchrony; in some cases the account is just closed but there are others in which the cardholder was transitioned over to a Synchrony-branded card.