BofA--Possible Financing Source?

Old May 2, 2005, 11:26 am
  #1  
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Join Date: Jul 2003
Location: Lehighton, PA, USA,HH Gold, US Plat
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BofA--Possible Financing Source?

I was recently on the BofA website for my US Visa card and decided to look around the website a bit. I didn't realize they also handle the AWA's Flight Fund Visa. Seems from a business point of view might want to make sure that business stays with BofA and come up with some type of financial help for a merger. Not necessarily 100's of millions, but something. @:-)
abeflyer is offline  
Old May 2, 2005, 2:25 pm
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Join Date: Feb 2001
Location: Pittsburgh, PA
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I doubt it.

Note that when I recently called and checked about cancelling my US BoA visa, they were more than happy to offer 5-10 alternative cards - including 2 privately branded rewards cards - where i could still earn and burn on US "or 10 other airlines"..
hscottm is offline  
Old May 2, 2005, 2:38 pm
  #3  
 
Join Date: Apr 2000
Location: Phila Delta ex-PM, ex-UA-PE
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I believe last year American Express agreed to pay Delta some decent amount of money ($500M comes to mind, but I'd hate to be misquoted) basically as an advance purchase of Skymiles. I think AMEX buys FF miles at a discount, then hopes to recoup it (and then some) thru annual fees and transaction fees from members who acquire or keep AMEX cards that award Delta Skymiles.

BofA could certainly agree to a larger advance purchase if HP and US were agreeable to it. The DL-AMEX deal was back when Delta was going thru an uncertain phase, so them getting that advance from AMEX was beneficial (I'm sure AMEX got a pretty good discount on the miles).

Jeff
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Old May 3, 2005, 5:31 am
  #4  
 
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If memory serves, BofA is already a funder, that is they are one of the banks that provided the loans guaranteed by the ATSB. So, I'm just guessing that they'd want someone else to advance additional funding, since there's no guarantee that additional funds would be paid back (unlike the federally guaranteed loans).
CLTFlyer is offline  

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