Originally Posted by golfingboy

Yes they did, and BofA probably forced AS to do it on their behalf since this was AS's decision.

Problem here is AS failed to meet (on behalf of BofA, where BOA is still accountable as the financial institution managing the terms/conditions of the card) the minimum notice requirement.

Originally Posted by golfingboy

It is under the CARD law [Credit Card Act] that was passed into legislation in 2009 and began full enforcement in Feb 2010..

"Must notify a customer 45 days before making a major change to the terms of a credit card contract."

Originally Posted by AS Flyer

from what I understand it's 98%.

Originally Posted by golfingboy

It is under the CARD law [Credit Card Act] that was passed into legislation in 2009 and began full enforcement in Feb 2010..

"Must notify a customer 45 days before making a major change to the terms of a credit card contract."

http://www.responsiblelending.org/cr...-Don-t-Do.html

However for the business card the banks still can:

"Arbitrarily change any or all terms for credit cards issued to small businesses."

I am busy moving into a new apartment to actually read the actual CARD legislation, but I can do that tomorrow night.

ETA: the Federal Reserve is better.

"When they plan to increase your rate or other fees. Your credit card company must send you a notice 45 days before they can

increase your interest rate;

change certain fees (such as annual fees, cash advance fees, and late fees) that apply to your account; or

make other significant changes to the terms of your card.

If your credit card company is going to make changes to the terms of your card, it must give you the option to cancel the card before certain fee increases take effect. If you take that option, however, your credit card company may close your account and increase your monthly payment, subject to certain limitations.

For example, they can require you to pay the balance off in five years, or they can double the percentage of your balance used to calculate your minimum payment (which will result in faster repayment than under the terms of your account).

The company does not have to send you a 45-day advance notice if

you have a variable interest rate tied to an index;

if the index goes up, the company does not have to provide notice before your rate goes up;

your introductory rate expires and reverts to the previously disclosed "go-to" rate;

your rate increases because you are in a workout agreement and you haven’t made your payments as agreed."

IMO, the change in this benefit is a significant change in the Credit Card terms.

ETA2: let me clarify my position here.

Do I want to attempt to start a lawsuit? No. It is not my thing and this is one thing I despite about our society. The way to go is to just cancel the card and move on. If someone is concerned about their credit score, the primary drivers are credit utilization and responsibility (do not let your balances balloon over 20% for more than 30 days, pay the bills on time, etc). So, sign up for a new credit card then cancel the AS card, your credit will take a slight hit, but you will get back within a few months.

My biggest irk about the whole thing is the hawking of the benefit while fully aware the benefit will go away in less than 45 days. It is just not how I think businesses should behave (I know they are trying to maximize any potential sign up leads), and I think the right thing to do is to either promote this benefit while informing the customers that they have until July 31st before the first class companion certificate changes to coach only and put that notice in the credit card applications. That way they can show reasonable diligence that they are ensuring customers are aware of the change before making a decision. Another way to do this is to send a notice to current cardholders in late May or early June about the change to give them reasonable time to decide before the annual fee is due and yank this benefit from all new applications on June 1st. That way the 45 days notice becomes a non issue and everybody has reasonable advance notice.

If someone wants to press this issue further, follow the link below:

https://appsec.helpwithmybank.gov/olcc_form/

Originally Posted by jackal

I and another FTer just did a check of our activity and it seems the companion certs are deposited 2-4 days after the annual fee posts. With luck you'll get it before the cut-off.

Originally Posted by missydarlin

Applications received before August 1 will get the existing companion cert which is valid for F fares. So the FA's announcement was correct.

Originally Posted by johnp012001

I wonder if that's 98% of Cardholders, or 98% of cards issued, since the Cardholders that use the cert for F seem far more likely to hold multiple accounts!

Originally Posted by AS Flyer

I have to imagine it's cards issued, in which case it would make the number of individuals affected even smaller since, as you said, a number of cardholders that to do use the cert for F hold multiple cards.

Originally Posted by AS Flyer

from what I understand it's 98%.

Originally Posted by jonfriedman

if 98% (and I think this is about right) were using the companion certificates to fly in coach, why did Alaska destroy its relationship with the 2% who were the most dedicated, loyal customers-who willingly paid at least one full fare first class seat every time they used a companion certificate-and who often had 2 or more VISA cards through B of A. This is the very worst kind of corporate decision. Bad for the consumer, the airline and the bank. I'm done. Canceling my 4 B of A cards this week and shifting all of my credit card business, consumer and business to Starwood Preferred AMEX where for 20k in spending, I could realize 25k Alaska miles (or a bunch of other carriers) and save $ w/its lower annual fee. This is a real pity. Alaska needs to reverse this decision.

Originally Posted by jonfriedman

if 98% (and I think this is about right) were using the companion certificates to fly in coach, why did Alaska destroy its relationship with the 2% who were the most dedicated, loyal customers-who willingly paid at least one full fare first class seat every time they used a companion certificate-and who often had 2 or more VISA cards through B of A. This is the very worst kind of corporate decision. Bad for the consumer, the airline and the bank. I'm done. Canceling my 4 B of A cards this week and shifting all of my credit card business, consumer and business to Starwood Preferred AMEX where for 20k in spending, I could realize 25k Alaska miles (or a bunch of other carriers) and save $ w/its lower annual fee. This is a real pity. Alaska needs to reverse this decision.

Originally Posted by johnp012001

Dedicated, loyal customers, who willingly manipulated the system by applying for multiple cards so they could fly in full fare F for 45% off? Depriving AS of the ability to sell those seats at full fare, or utilize them to reward their best flyers who fly regularly paying market fares? Customers with multiple cards may be dedicated and loyal, since they were getting an incredible value, but are NOT their best customers.

I find it interesting that pages back I asked if anyone would be ok if they limited the companion fare to 2000 miles or less, to match the original value of the certificate before AS expanded it's route network, and only ONE person replied. Seems no one is interested in using these on the shorter routes they used to be valid on, but only on the long hauls that have been introduced since the certs inception. Seems AS would have done better to limit them when they started flying long haul routes, then we wouldn't be having this discussion!

Originally Posted by ChugiakAk

I wouldn't mind paying a higher fee to use the companion for seats in F. If it is $110.00 in coach, charge a higher rate for a first class companion seat but at least make the option available.