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Do you think AOD card is here to stay?

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Valued Contributor

Re: Do you think AOD card is here to stay?

Hopefully it still around in a few months when eith the DW or myself can join in the fun.  I am a member now in waiting for a clean profile.  The one thing they are not doing is offering any SUB which would increase any unsutainability financially for them.

 

The NFCU Flaship at 2% when it has the $500.00 SUB would be a tougher financial pill to swallow for a tiny CU I would imagine.

 

We will see what then next few months bring.

 

Edited to add:  This is a CU also and there are no corporate jets, no 5 mansions for those at the top, no dividends, stock buy backs or any $%#@$ at the top getting bloated on the backs of the institutions customers.  They are, after all, not a corporate profit above all orginization...  it just has to "work".




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Message 11 of 29
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Mega Contributor

Re: Do you think AOD card is here to stay?

For the first time I remember, I just got a set of offers from the other 3%, USAlliance, offering 5% on some local restaurants, and other offers on other types of store.   More confusingly, some of the stores offer "2 points per $" which is less than the usual 3%!   If it really is additional, then the extra 5% on restaurants would be pretty good.

Message 12 of 29
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Valued Contributor

Re: Do you think AOD card is here to stay?


@Dinosaur wrote:

@UpperNwGuy wrote:

Study the history of the USAA and Alliant high cash back cards.


Since you mentioned it why not share your insight as this would be a good time to refresh all of us?


USAA had a 2.5% flat rate card.  After rolling it out to most of the states, they suddenly stopped accepting new applications.  Apparently it was not profitable to USAA.

 

Alliant has a 2.5% card that has a 3% first year bonus.  They've been removing benefits over the course of the last couple of years.  Apparently it was not profitable to Alliant in its previous form.

 

Dinosaur seems to have it in for me today.  Is this something personal?  I expected better from a former moderator of this forum.

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Message 13 of 29
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Regular Contributor

Re: Do you think AOD card is here to stay?

Can anyone join this credit union and apply for this card?







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Message 14 of 29
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Community Leader
Super Contributor

Re: Do you think AOD card is here to stay?


@Beast26 wrote:

Can anyone join this credit union and apply for this card?


You'll find answers to all your questions and more in this thread:

 

https://ficoforums.myfico.com/t5/Credit-Card-Approvals/The-Anniston-Tidal-Wave-AOD-FCU-Approvals-Thr...



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Message 15 of 29
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Frequent Contributor

Re: Do you think AOD card is here to stay?

I have been planning to try for this card after we close on a house, which could be as last as Feburary or March 2021, so who knows how it will look in 4-6 months.   I hope I get lucky and it is still around and I can get in.  Obviously if it is was profitable we would see more 3% everything cards.  Personally if they capped it, it may defeat the purpose of me getting it (desire to use for some big purchases).  My normal spend isn't all that much.  I am constantly evaluating my cards (though I have been on hold with new accounts since May 2019 in prep of wanting to apply for a mortgage in late 2020).  With less travel having a lot of cashback seems like the way to go, so heres to hoping this card sticks around! 





Message 16 of 29
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Mega Contributor

Re: Do you think AOD card is here to stay?


@sxa001 wrote:

I have been planning to try for this card after we close on a house, which could be as last as Feburary or March 2021, so who knows how it will look in 4-6 months.   I hope I get lucky and it is still around and I can get in.  Obviously if it is was profitable we would see more 3% everything cards.  Personally if they capped it, it may defeat the purpose of me getting it (desire to use for some big purchases).  My normal spend isn't all that much.  I am constantly evaluating my cards (though I have been on hold with new accounts since May 2019 in prep of wanting to apply for a mortgage in late 2020).  With less travel having a lot of cashback seems like the way to go, so heres to hoping this card sticks around! 


Also need to keep the excitement in perspective!   Just looking at rewards, compared to a standard 2% card, if you had $20K in non-category spend (i.e. where you have no other card with a higher rate) you would get an extra $200.    Certainly not nothing, but not something you would want to  curse your horrible life if you miss it.

 

And yes, there are other benefits such as the low APR, but that's going to be used a lot less.

Message 17 of 29
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Established Contributor

Re: Do you think AOD card is here to stay?


@spiritcraft1 wrote:

Hopefully it still around in a few months when eith the DW or myself can join in the fun.  I am a member now in waiting for a clean profile.  The one thing they are not doing is offering any SUB which would increase any unsutainability financially for them.

 

The NFCU Flaship at 2% when it has the $500.00 SUB would be a tougher financial pill to swallow for a tiny CU I would imagine.


I think this is actually a huge deal. 3% is a lot to give out, but it would take copious amounts of spend to balance out giving away a SUB like the CSP's recent bonus, even if it has a $95 AF.

 

$1000 SUB - $95 AF = $905

$905 @ 3% cash back = $30166.67

 

That's not even considering the points Chase has to give out for actual spending on the CSP, which would make the break-even point even higher. 





[2/2019]
Message 18 of 29
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Moderator Emeritus

Re: Do you think AOD card is here to stay?


@UpperNwGuy wrote:

@Dinosaur wrote:

@UpperNwGuy wrote:

Study the history of the USAA and Alliant high cash back cards.


Since you mentioned it why not share your insight as this would be a good time to refresh all of us?


USAA had a 2.5% flat rate card.  After rolling it out to most of the states, they suddenly stopped accepting new applications.  Apparently it was not profitable to USAA.

 

Alliant has a 2.5% card that has a 3% first year bonus.  They've been removing benefits over the course of the last couple of years.  Apparently it was not profitable to Alliant in its previous form.

 

Dinosaur seems to have it in for me today.  Is this something personal?  I expected better from a former moderator of this forum.


You have been asking questions and then ... gone! You have knowledge that could certainly enlighten a few of us! If being asked to offer the knowledge is not of interest, most unfortunate for some of us! Also, you ask the questions it is totally on us to follow if we are interested. Not a problem from where I stand?

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Message 19 of 29
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Contributor

Re: Do you think AOD card is here to stay?

I just want to add that USAA requires at least a $1,000 direct deposit into a USAA checking account in order to qualify for the 2.5% cash back on Limitless; otherwise it reverts to 1.5%. 

 

I believe the idea behind Limitless was to reward their most valuable customers; hoping that between using a USAA checking account in conjunction withthe Limitless would net them more income. I think it was an experiment from the beginning and they just did not see the numbers to support keeping the card live for future applicants. 

 

As for AOD...it does not seem entirely profitable but you never know. I could see changes to it in the future, most likely a cap on how much one can earn per month/quarter/year. 

 

As with any card, enjoy it while you can. 

Message 20 of 29
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