Mountain Trader

I haven't used the B of A card that replaced the Schwab card since they cut the 2% down to 1% a long time ago.

I called last week to cancel the card and the CSR told me I had a $25 credit which she offered to send to me. I had not spotted that on my online account.

I received the check yesterday and I'll be cancelling the card soon.

Happy

Interesting. I have a mysterious 2.50 "promotional statement credit" posted on the card last week.

The card is not too bad because it can bridge the gap on grocery/drugstore / gas station spending during the period when other cards category bonuses do not cover those category. I got a 5% on everyday spending plus restaurant for Q2 though the total earning is capped at $25 so not much use, other than a little extra. It also has some local deals I just noticed - such as 15% cash rebate on a local chain of organic grocer, and 10% on spend at Holiday Inn if the bill is between $100 to $300, off the top of my head. You see those deals when you log in BofA account and they require registration.

themicah

Noooo!!! I haven't seen that yet.

Happy

I haven't seen that either but since I have other cards that are 0% forex so it would not affect me.

buschoi

I, too, have switched most of my spend to other cards. It will soon join the other BOA card in my drawer.

frank_10b

Has/will everyone receive this?
this was always a good backup no FX fee card,

bigbuy

I must say that the letter containing new amendments to the card agreement almost got tossed after a cursory read. It seemed pretty innocuous. BUT, I chose to read it thoroughly the second time, and danged if the 3% fee wasn't buried, really buried in it. I had a $38,500 line of credit on this card, and left for Portugal without this card in my money belt.

wco81

For what it's worth I use this card earlier this month in Italy and I see no indications of surcharge or any kind of Forex fees on my statement so far.

themicah

Is the letter arriving under separate cover or together with regular monthly statements?

bigbuy

Separate cover. Wish I had saved it as I did not read start date for the updates. 3% fee was on the third page about half way down.

zakami

Does anyone know when the foreign transaction fee kicks in. I am currently living outside the US and it takes about 2 months for my mail to reach me. Since all my spending is outside the US, this can be a big deal to me.

JEFFJAGUAR

Let's not jump to any conclusions just yet regarding this. Remember when the change was fir4st made, we had questions regarding the foreign fransaction fee.

Do remember the basic card involve3d here, the Bank of America rewards card does feature the near criminal 3% foreign transaction fee; it nis ofncourtsenear ciminal because Bank of America has nothing to do with any foreign conversions; that is done by visa before the charge even reaches Bank of America. Howev er when the Scwab card waqs converyted to this card, current Schwa b card holders were exemptednfrom nthis near criminal fee. So...

I am currently travelling and have not received the actual letter. But it is my understanding that under current US law, if they are changing the terms of the crecdit card agreement, they must spec ifically say so and also given an opt out procedure. They apparently haven't so this just might be the usual c ardholder agreement for their rewards card with no specifri c change to those of us with the transferred Schwab card. Does anywhere iin the letter so state this is a change? If not, then they cannot add the near criminal 3^ foreign transaction fee without proper notification.

themicah

I still haven't gotten a letter.

aBroadAbroad

Received this email on Saturday:

Per a CS rep in the fraud monitoring department, there was some kind of massive data breach along the lines of a lost laptop or similar. She indicated that replacement cards were mailed last Friday. When we expressed surprise that this was the first we'd heard of any kind of problem -- no warning letter, no robo-call, nothing -- she stated that an explanatory letter would accompany the new cards. When we voiced concern that the new cards would not be received before we leave the country for an absence that will last several months, she stated that the old cards will work until new ones are activated. (When we challenged her on this last assertion, it turned out to be "until the new ones are activated OR until July 12, whichever is sooner." )

Anyway. Not sure exactly how many cardholders are affected, but the rep did use the term "massive data breach" in her explanation.

mia

Such as this one?

http://www.flyertalk.com/forum/credi...ty-breach.html

I cannot recall an instance in which a data breach involved a large number of cards of a specific type.