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Is BofA Going Contactless and Replacing Current Cards?

yfan
Valued Contributor

Is BofA Going Contactless and Replacing Current Cards?

Out of the blue, I just got a replacement card for my BofA Cash Rewards Visa today. Nothing has changed - card number is the same, expiration date is the same, security code is the same. The only things different in the new card is an updated design and a contactless logo in the back. There was also no way to actually activate the card online or on the app, so I assume the card will work as is.

 

Happen to anyone else?

 

(I'd post pictures if I could figure out how).

Message 1 of 23
22 REPLIES 22
simplynoir
Community Leader
Super Contributor

Re: Is BofA Going Contactless and Replacing Current Cards?

Message 2 of 23
M_Smart007
Epic Contributor

Re: Is BofA Going Contactless and Replacing Current Cards?


@yfan wrote:

Out of the blue, I just got a replacement card for my BofA Cash Rewards Visa today. Nothing has changed - card number is the same, expiration date is the same, security code is the same. The only things different in the new card is an updated design and a contactless logo in the back. There was also no way to actually activate the card online or on the app, so I assume the card will work as is.

 

Happen to anyone else?

 

(I'd post pictures if I could figure out how).


So far no contactless has showed up for Me, yet?

Crazy to think with mail theft, That they would send an already activated card.

 I had experienced this with another lender, just don't remember which one.

 

Do you use your card at a lot of places where contactless works?

Message 3 of 23
M_Smart007
Epic Contributor

Re: Is BofA Going Contactless and Replacing Current Cards?

Message 4 of 23
yfan
Valued Contributor

Re: Is BofA Going Contactless and Replacing Current Cards?


@M_Smart007 wrote:

So far no contactless has showed up for Me, yet?

Crazy to think with mail theft, That they would send an already activated card.

 I had experienced this with another lender, just don't remember which one.

 

Do you use your card at a lot of places where contactless works?


Good point, but who knows. The fraud algorithms are so good nowadays that they'd probably know right away if a card was being misused.

 

As for use, I use it a lot at Costco. Which has contactless capabilities now that you mention it.

Message 5 of 23
M_Smart007
Epic Contributor

Re: Is BofA Going Contactless and Replacing Current Cards?


@yfan wrote:

@M_Smart007 wrote:

So far no contactless has showed up for Me, yet?

Crazy to think with mail theft, That they would send an already activated card.

 I had experienced this with another lender, just don't remember which one.

 

Do you use your card at a lot of places where contactless works?


Good point, but who knows. The fraud algorithms are so good nowadays that they'd probably know right away if a card was being misused.

 

As for use, I use it a lot at Costco. Which has contactless capabilities now that you mention it.


That is exactly why I asked. Mine is kinda in the sock drawer, was thinking of why they might send one out to you,

and I have not received mine yet. I have a small balance transfer on mine 2nd 0% offer since I opened it.

it hasnt seen a swipe in probably close to 9-12 months or more.

 

Thanks for the replySmiley Happy

Message 6 of 23
tmiw
Established Contributor

Re: Is BofA Going Contactless and Replacing Current Cards?


@simplynoir wrote:

https://www.doctorofcredit.com/bank-of-america-to-begin-issuing-contactless-cards/


What they said.

 

OP, tap as much as possible so BofA can justify rolling it out to people who don't live in NYC, Boston or SF (like me). Cat Very Happy

Message 7 of 23
arkane
Established Contributor

Re: Is BofA Going Contactless and Replacing Current Cards?

Yep they're rolling it out in stages. Curious that you got a contactless for the Cash Rewards, but when I called in they told me it was only available on the Premium Rewards for me.

 

Either way, as you discovered, card is already activated in the mail (!!), so just tap away upon receiving. And yes tap is great, even works on these crappy Ingenico terminals that will read contactless cards, but fail even with Samsung Pay's MST. Smiley Mad Kinda makes me wonder what the deal is exactly.

Active:

Closed:


6/8/20:

Message 8 of 23
yfan
Valued Contributor

Re: Is BofA Going Contactless and Replacing Current Cards?


@arkane wrote:

Yep they're rolling it out in stages. Curious that you got a contactless for the Cash Rewards, but when I called in they told me it was only available on the Premium Rewards for me.

 

Either way, as you discovered, card is already activated in the mail (!!), so just tap away upon receiving. And yes tap is great, even works on these crappy Ingenico terminals that will read contactless cards, but fail even with Samsung Pay's MST. Smiley Mad Kinda makes me wonder what the deal is exactly.


Heh. My guess is that banks want to be able to give consumers the convenience of tap-to-pay, but they'd still rather have you use the physical card and not your phone, at least most of the time. So they're putting the feature on the cards. By and large Americans haven't gotten used to using their phones to pay, and credit card issuers may not want us to. Because that depersonalizes the card, and worse, if you choose the path of least resistance and don't pick a card for every transaction, your phone goes with the default card, which may or may not be the one a given bank issued.

Message 9 of 23
tmiw
Established Contributor

Re: Is BofA Going Contactless and Replacing Current Cards?


@yfan wrote:

@arkane wrote:

Yep they're rolling it out in stages. Curious that you got a contactless for the Cash Rewards, but when I called in they told me it was only available on the Premium Rewards for me.

 

Either way, as you discovered, card is already activated in the mail (!!), so just tap away upon receiving. And yes tap is great, even works on these crappy Ingenico terminals that will read contactless cards, but fail even with Samsung Pay's MST. Smiley Mad Kinda makes me wonder what the deal is exactly.


Heh. My guess is that banks want to be able to give consumers the convenience of tap-to-pay, but they'd still rather have you use the physical card and not your phone, at least most of the time. So they're putting the feature on the cards. By and large Americans haven't gotten used to using their phones to pay, and credit card issuers may not want us to. Because that depersonalizes the card, and worse, if you choose the path of least resistance and don't pick a card for every transaction, your phone goes with the default card, which may or may not be the one a given bank issued.


IMO, without Apple, I highly doubt banks would have even considered contactless cards a second time. Remember, they were tried a decade ago and failed miserably. Even now, only a few major banks have announced adding support, with the vast majority waiting on the sidelines to see how this second attempt works out.

 

As for how Apple plays into it, they're basically the reason most merchants didn't simply buy chip terminals without NFC hardware back when the migration first started happening. And despite them, a significant number of merchants (mainly restaurants, but definitely others too) still went with hardware with NFC disabled at best, if not outright impossible; imagine what would have happened if Apple had waited even a year or two to launch Apple Pay in the US.

Also, if AP was more commonly used, banks may have made more effort towards, say, no longer issuing physical cards by default. After all, contactless cards are still more expensive than non-contactless (though the differential's been dropping), with any card more expensive than not issuing one. Good enough rewards would be able to overcome most obstacles to being top of "wallet", despite the form that the wallet takes.

Message 10 of 23
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