Go Back  FlyerTalk Forums > Miles&Points > Credit, Debit and Prepaid Card Programs > Credit Card Programs
Reload this Page >

Schwab Invest Visa? 2% cash back on everything? [Discontinued card]

Schwab Invest Visa? 2% cash back on everything? [Discontinued card]

Old Jun 15, 12, 5:51 am
  #1516  
 
Join Date: Feb 1999
Location: Denver CO
Posts: 3,651
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.
Mountain Trader is offline  
Old Jun 15, 12, 9:24 am
  #1517  
FlyerTalk Evangelist
 
Join Date: Jul 2003
Location: Florida
Posts: 27,269
Originally Posted by Mountain Trader View Post
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.
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.
Happy is offline  
Old Jun 15, 12, 9:24 am
  #1518  
 
Join Date: Jan 2003
Location: NYC
Posts: 8,295
Originally Posted by bigbuy View Post
I had the Schwab Visa and it was converted with no FOREX fees. Just got an amendment page in the mail and it now states that there is a 3% FOREX fee.
Noooo!!! I haven't seen that yet.
themicah is offline  
Old Jun 15, 12, 9:25 am
  #1519  
FlyerTalk Evangelist
 
Join Date: Jul 2003
Location: Florida
Posts: 27,269
Originally Posted by themicah View Post
Noooo!!! I haven't seen that yet.
I haven't seen that either but since I have other cards that are 0% forex so it would not affect me.
Happy is offline  
Old Jun 15, 12, 2:24 pm
  #1520  
 
Join Date: Feb 2009
Location: SEA / HKG
Programs: AA, AS, CX, SQ, Hyatt, IHG, Marriott
Posts: 1,613
Originally Posted by Mountain Trader View Post
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, too, have switched most of my spend to other cards. It will soon join the other BOA card in my drawer.
buschoi is offline  
Old Jun 15, 12, 2:46 pm
  #1521  
 
Join Date: Mar 2003
Location: EWR Ionosphere Club, LAX Clipper Club, Still Traveling Global, yearly BIS miles
Programs: EAL Silver Wings, I-Club, Flying Colonels DL, WorldPass PLat from the olde Meatball and PE SMARTbank
Posts: 1,687
Originally Posted by bigbuy View Post
I had the Schwab Visa and it was converted with no FOREX fees. Just got an amendment page in the mail and it now states that there is a 3% FOREX fee.
Has/will everyone receive this?
this was always a good backup no FX fee card,
frank_10b is offline  
Old Jun 16, 12, 2:36 pm
  #1522  
 
Join Date: Apr 2005
Location: ATL
Posts: 775
Originally Posted by frank_10b View Post
Has/will everyone receive this?
this was always a good backup no FX fee card,
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.

Last edited by bigbuy; Jun 17, 12 at 3:01 am
bigbuy is offline  
Old Jun 19, 12, 7:57 am
  #1523  
FlyerTalk Evangelist
 
Join Date: Oct 2004
Location: Bay Area
Programs: DL SM, UA MP.
Posts: 10,200
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.
wco81 is offline  
Old Jun 19, 12, 9:09 am
  #1524  
 
Join Date: Jan 2003
Location: NYC
Posts: 8,295
Is the letter arriving under separate cover or together with regular monthly statements?
themicah is offline  
Old Jun 19, 12, 12:41 pm
  #1525  
 
Join Date: Apr 2005
Location: ATL
Posts: 775
Originally Posted by themicah View Post
Is the letter arriving under separate cover or together with regular monthly statements?
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.
bigbuy is offline  
Old Jun 24, 12, 3:46 am
  #1526  
 
Join Date: May 2002
Location: SNA
Posts: 2,546
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.
zakami is offline  
Old Jun 24, 12, 4:11 am
  #1527  
 
Join Date: Jul 2007
Posts: 1,751
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.
JEFFJAGUAR is offline  
Old Jun 25, 12, 9:01 am
  #1528  
 
Join Date: Jan 2003
Location: NYC
Posts: 8,295
I still haven't gotten a letter.
themicah is offline  
Old Jun 25, 12, 4:03 pm
  #1529  
 
Join Date: Aug 2010
Location: BKK
Programs: AA Plat, HH Diamond, SPG Gold
Posts: 2,396
Received this email on Saturday:

Dear mr&mrs:

Bank of America Credit Card has changed your account number. We've already updated your account number in Online Banking to make sure your payments will be credited to the correct account. You don't need to take any action.

If you have any questions about your account, including the reason why your account number changed, contact Bank of America Credit Card directly.

Thank you for using Online Banking.
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.
aBroadAbroad is offline  
Old Jun 25, 12, 4:14 pm
  #1530  
mia
FlyerTalk Evangelist, Moderator: American Express, Citi, Diners Club, Signatures
 
Join Date: Jun 2003
Location: Miami & London
Programs: AA & Marriott Perpetual Platinum; HH Gold
Posts: 38,336
Originally Posted by mr&mrs View Post
... rep did use the term "massive data breach" in her explanation.
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.
mia is offline  

Thread Tools
Search this Thread