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

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

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Old Jun 23, 13, 5:22 am
  #1561  
 
Join Date: Feb 2011
Posts: 683
Originally Posted by Happy View Post
When was the last time you used it aboard and it was 0% forex fee? I think I would bring it with us on our upcoming trip in July to test it. It is a Chip and Signature card too. Though last year when I tried to buy tickets at the Vienna airport's train station, the machine did not recognize the card. (neither the Citi Chip and Signature card).

Interesting about the Target purchases. I assume that is the Super Target that has a good size grocery dept. No way all purchases from Target would be coded as groceries...



They never send out notice about taking away the 0% forex fee feature. At least I never receive such notice.
Forex: I am out of the country now, and will try if if I get a chance. I don't recall any disclosure that they were changing it though.

Target: I just looked at my rewards transaction history online, and the current month isn't showing any "Bonus"; can't remember if those only come in at the close, or if it ended? But looking back to last month, I see all Target purchases marked "Bonus", with points at .02 * the purchase amount (same as grocery stores on the statement). We don't shop at a Super Target, and very little of what we buy is groceries; I think the whole store is just categorized that way. Haven't tried Walmart etc to see if they're the same.
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Old Jun 23, 13, 10:08 am
  #1562  
 
Join Date: Jun 2009
Location: SFO
Programs: HH Gold, CC Gold
Posts: 261
Well, we only have a City Target in SF, so its super tiny compared to the ones in the suburbs and it codes as groceries. This card now has more use since Target opened in town. Target codes as Household goods or something like that on my AMEX.

Forex was 0% when I used it last year. I'll be taking it with me for my trip down to MEL in Nov and see how it goes with chip/sig and forex.

Originally Posted by Happy View Post
Interesting about the Target purchases. I assume that is the Super Target that has a good size grocery dept. No way all purchases from Target would be coded as groceries...
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Old Jun 23, 13, 11:05 am
  #1563  
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Join Date: Oct 2004
Location: Bay Area
Programs: DL SM, UA MP.
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I used it in Italy in early June. Haven't looked too closely at the transactions but seems about the same as my Chase Sapphire Preferred Visa transactions.

Now if I can only search through their PDF statements.
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Old Jun 23, 13, 7:07 pm
  #1564  
 
Join Date: Jul 2007
Posts: 1,750
Just back...used it 40 or so times in Europe the past 3 weeks. The grandfathered card still has no foreign transaction fee and is available in chip and signature version.
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Old Jun 23, 13, 9:28 pm
  #1565  
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Join Date: Jul 2003
Location: Florida
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Thank you guys for the feedback!

Very good they grandfathered the 0% forex fee.
Also it is great that all purchases at Target earns the grocery bonus. Now the card would see some usages.
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Old Aug 12, 13, 10:44 am
  #1566  
 
Join Date: Jan 2003
Location: NYC
Posts: 8,288
Over the weekend I got a letter from BofA informing me that they've "enhanced" my account by getting rid of the ability to deposit rewards into non-BofA bank accounts. I don't care all that much so long as I can still apply the rewards as a statement credit. But it's still annoying.

I know it's been a joke for years on FT that "enhanced" almost always means "taking something away" when used in an announcement from a frequent flier or credit card program. But is this something that's taught in marketing classes or something? Because it's truly remarkable how consistent it is.
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Old Dec 7, 13, 10:12 am
  #1567  
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Join Date: Jul 2003
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Still is 0% forex fee

For those of you still keep this card after being converted to BofA's 1-2-3, I like to post an update that it is confirmed that there is still 0% forex fee.

I used it in Vancouver in Sept a few times. No forex fee.

Also I sent a Travel Notice via SM as I will bring this card for an upcoming trip to SE Asia. Got a reply to tell me to do Travel Notice via another dedicated online form, but in the SM it also has the following sentence:

We are glad to inform you that there is no foreign transaction fee on your account.

So it is good to keep it if not for anything else, but a back up card for travel after the Chip and Signature cards from Citi and Chase. Note the other banks Chip and Signature cards all have annual fee though the 1st year is waived and Citi often gives retention offer to offset the annual fee, not so much from Chase. Therefore this BofA card is a good option. I am glad I have not canceled it when it is converted but take a wait and see approach.
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Old Dec 7, 13, 2:29 pm
  #1568  
 
Join Date: Apr 2009
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Thanks for the update, Happy. I haven't used this card in a while but good to know this feature still exists. For overseas spend, I'm currently using my PenFed Visa. Working great!
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Old Dec 7, 13, 4:47 pm
  #1569  
 
Join Date: Sep 2006
Posts: 146
Originally Posted by Happy View Post
For those of you still keep this card after being converted to BofA's 1-2-3, I like to post an update that it is confirmed that there is still 0% forex fee.
Good reminder. I just received my new BofA 1-2-3 card in the mail with activation instructions sticker on it and was wondering why I still wanted to keep this card (as I haven't really used it since my Schwab card was converted to it).

Guess I'll go ahead and activate it as a backup to my other no-foreign-transaction fee cards.
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Old Dec 7, 13, 5:12 pm
  #1570  
 
Join Date: Jul 2007
Posts: 1,750
BTW..Although it may not be clear from these posts, the card is available upon request with an emv chip. It is, of course, like all BofA emv cards chip and signature not chip and pin but at least it's free and for those grandfathered in, there is still no foreign transaction fee.
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Old Dec 7, 13, 7:12 pm
  #1571  
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It's my main card. Are there other cards with zero FX and better rewards?

BofA also sent me an email to get their no FX card buy I couldn't tell if it's any different than what I already have.
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Old Dec 7, 13, 7:52 pm
  #1572  
 
Join Date: Jul 2007
Posts: 1,750
Fidelity Brokerage issues a free Amex card with a 2% rebate on all purchases. Being an amex card is really no problem in the USA for the most part as acceptance is almost the same as mc/visa. My insurance company takes mc/visa and not Amex for premiums although I can't offhand think of very many places else that don't take Amex in the USA (I'm sure there are).

In Europe, there are many places that take mc/visa and don't take Amex and the card does carry a 1% foreign currency conversion fee (I'm not sure it's a foreign transaction fee as in theory Amex does not allow dcc although I'm not sure what happens when you charge say British Airways tickets on it where I know mc/visa transactions even at US travel agencies are processed at British banis and hence with those cards subject to the 3% foreign transaction fee, you're nailed) but since the foreign transaction fee is 1% and you get a 2% cash rebate, you're even with the BofA 3-2-1 grandfathered card.

Pen Fed has a card with a 5% cash rebate on gasoline, no foreign transacction fee or annual fee although they now require a minimum account with them of $1,000 and alntoughh I have a card with an emv chip and it's one of those hybrid chip and pin cards several of the fcu's offer (chip and signature being default but able to function as chip and pin at many unpersonneled kiosks with verying degrees of success), I'm not sure if this card is still available with emv chip. I will have to check that out when it expires.
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Old Dec 9, 13, 9:53 am
  #1573  
 
Join Date: Jan 2003
Location: NYC
Posts: 8,288
The expiration date on my card was 11/13. Normally when a card expires I get a new one in the mail a month ahead, but I haven't gotten a new card. Anybody else had that issue?

[Edited to add:] Nevermind. I just realized I got a new card with an 11/14 expiration date a year or two ago. I just forgot to update the expiration date with a merchant that has recurring charges.

(why isn't there a facepalm smiley on here?)

Last edited by themicah; Dec 9, 13 at 10:23 am
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