So FNBO has had a new Amex card with a 6.95% APR and 1.5% in rewards advertised for a month or so. I meant to call, but never got around to it, then today I did call and simply asked them if I could convert to that card. I already have their other Amex, but the rewards are not that great in comparison with other rewards that I have, i.e. Sallae Mae, BCP, QS, etc., etc.
I figured hey, the rewards on this would be the same as my 3 QS cards. (Yes, I have three QS cards. It had to do with rebuilding and CapOne policies. I got the last one, Signature version, because of their no credit limit increase policiy from before.) I figured with that rewards structure I could replace the main QS card I use, as I have little love for CapOne, some love, just not enough that if I had another choice for an everyday card with the same rewards I would switch.
No product changes. Three levels up, including to someone who said they worked for the 'Office of the President' and the answer still remained the same. Can't do it, the laws don't allow it. OK, am I mistaken about this, but from my understanding of the 'laws' they refer to, this is simply not 100% correct. To my knowledge the laws didn't allow them to change terms in the first 13 months or change terms without notifying us in advance. They did also refer to company policy, but it seemed liked they wanted to make it seem like the biggest reason was the laws.
The EO lady did not seem happy that she had to take this call. I wonder how many others have asked the same question? I mentioned that other companies allow PC'ing and she said she didn't know of any. She even stated that she was a Discover customer and had asked to switch her card with them and was denied. I countered that other banks do do it. Amex itself does it, CapOne does it, Chase does it, Barclays does it, BofA, and the list could continue.
Has anyone else ever tried to PC with FNBO? Have you been successful? What was your strategy?
I am not that concerned with the APR, but it is a nice fall back option if I did have to revolve a balance. The points structure was the main reason for the call. They did say they would try and see if the point structure could be changed and to call back in a few days to find out. But it did a bit of pressing. When I did say that the APR was not that big of a deal, it really isn't, and I do have a balance transfer with them at 5.99% until it is paid off. Not really my balance, it is my niece's balance, since she can't handle credit the same way I can. (In fact, no one in my family can!) I almost transferred the balance right then to another card out of frustration, however the no time limit is rather nice, but I will check my offers with other banks to see if I can do it and it will save my niece money! Maybe if I let the card sit at $0 for a while they might be more responsive to what I requested?
Yes, I do understand 'bank policy' and all that jazz. It was bank policy with CapOne which actually led me to have all the great cards I do have.
It is by will alone I set my mind in motion.....
Always follow these rules: Only take a HP for a new account. Always use the best rewards card for that reward category. Don't close a card unless you know you really should. Never use more than 35% of a credit limit. Recon as much and as best you can. Use the introductory period to the best advantage. Get the signup bonus. Whenever possible PIF or balance transfer so you pay less in interest. Never give an excellent rating when it is actually the norm. Always look for a discount as more is always better.
Always accept candy from strangers because they have the best candy or from people you know have good candy.
