Not sure I follow you on what happened, but...I can tell you that this *WAS* one of the best cards...it is still good, but I'm not sure I like it as much since Bank of America took over from Seafirst here in the Seattle area.

I have had the card for 3-4 years and last month, after racking up my highest monthly charge total ever ($6000+), B of A tried to nail me with a $55 finance charge for supposedly being one day late. I've NEVER been even one day late on any card I carry.
In this case, it was due on a Saturday and I mailed it on a Thursday to a local address 15 miles away. They didn't post it on Friday or even Saturday, but showed it posting on Monday. I get the charge reversed, but it still made me very angry...and I am shifting my business away from them...about $35-$40K/year in charges.

I notice that Amex now has a disclaimer also that says "payments received after 12pm, and on weekends, or holidays, etc" might not be posted until the following business day. Boy, they could pretty much do whatever they wanted...AFTER 12pm??? I guess no one really knows what time their mail jeep rolls around. They can just bust about a million customers a month for 30 bucks each and make, well, 30 million bucks! That ought to pay for the miles they give us.

I am now paying my BofA payments at the bank branch (immediate posting) and my Amex via the pay-by-phone (free service which posts in 24-48 hours including weekends). These are two good options to keep in mind.

The Alaska card still carries some excellent perks, like the $50 companion fare and (what is really) a one-way first class upgrade, as well as a couple of board room passes and 2000 anniversary points and, I believe, a 5K signup bonus. Just be careful with Bank of America - don't let 'em nick you.

Best Regards -DS