schwab 2% now FIA still 2%?

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Sublime8700
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schwab 2% now FIA still 2%?

Post by Sublime8700 » Wed Nov 03, 2010 9:47 am

Is there any confirmation about what is going to happen to this card? I haven't heard anything directly (though I know it was moved to FIA and not serviced by Schwab anymore) but are card holders still getting 2% or no?

yobria
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Post by yobria » Wed Nov 03, 2010 9:51 am

Yep, as of today. Guessing that won't last forever though.

Nick

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Zook13
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Post by Zook13 » Wed Nov 03, 2010 11:03 am

I just received the 2% in my checking account, which used to be placed into my Schwab brokerage account.

So yes, it still works, but I have this feeling it's not here to stay....
Taxable Account Holdings: 100% Vanguard Tot'l Stock (VTI)

beareconomy
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Post by beareconomy » Wed Nov 03, 2010 11:18 am

I opened up the fidelity Amex just in case.

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guarana
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Post by guarana » Wed Nov 03, 2010 11:31 am

beareconomy wrote:I opened up the fidelity Amex just in case.


thinking about doing the same.

just got my 2% back from last month, in my Schwab account. i'll keep it for the no foreign transactions fees alone.

Sublime8700
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Post by Sublime8700 » Wed Nov 03, 2010 1:20 pm

anyone know if it has travel insurance with it? I left an expensive cell phone on an airline (that I booked with the Schwab card) and was wondering if there was some travel insurance that I could claim the loss with...?

yobria
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Post by yobria » Wed Nov 03, 2010 2:36 pm

Sublime8700 wrote:anyone know if it has travel insurance with it? I left an expensive cell phone on an airline (that I booked with the Schwab card) and was wondering if there was some travel insurance that I could claim the loss with...?


Do you have a police report or some evidence of loss?

Nick

Sublime8700
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Post by Sublime8700 » Wed Nov 03, 2010 3:04 pm

No, unfortunately not. I just left it in the seatback pocket on the plane. Out of luck?

UrbanMedic
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Post by UrbanMedic » Wed Nov 03, 2010 8:10 pm

Sublime8700 wrote:No, unfortunately not. I just left it in the seatback pocket on the plane. Out of luck?


I did see something like that in the brochure that came with the Schwab Visa. Look over this link:
http://usa.visa.com/personal/visa-signa ... /index.jsp

There was something like that, but the specific I don't know.

Sublime8700
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Post by Sublime8700 » Thu Nov 04, 2010 9:58 am

Thanks very much -- I will call them up and see what the situation is.

sunspotzsz
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Post by sunspotzsz » Thu Nov 04, 2010 10:11 am

Does anyone know if this card still offers "No foreign exchange fee"?
Have a trip coming up.

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guarana
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Post by guarana » Thu Nov 04, 2010 3:44 pm

I was told yes (when I called last month)

The last time I used overseas was in April, however (Thailand and Japan)

shoetrip
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Post by shoetrip » Thu Nov 04, 2010 5:52 pm

beareconomy wrote:I opened up the fidelity Amex just in case.



FIA (owned by bank of america) also services the fidelity amex card too.

I prefer that now the cashback rebate can be sent to any bank/brokerage acct and it is not beholden to one entity. I currently have mine sent to ING savings.

shoetrip
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Post by shoetrip » Thu Nov 04, 2010 5:55 pm

sunspotzsz wrote:Does anyone know if this card still offers "No foreign exchange fee"?
Have a trip coming up.


So far the waiver on exchange fees still holds. I prefer not to use this card overseas given I get too many denial of charges due to suspected fraud alert; even after i notify cs in advance which countries I will be using the card in.

Amex plat is my go to card overseas, I never have a problem with them.

Penfed also offers a no exchange fee amex travel card. I think I will use it in the next couple of weeks for my trip to Europe.

stlutz
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Post by stlutz » Thu Nov 04, 2010 9:11 pm

I believe the law requires them to give you advance notification of any fee increase. And, you can always check the rates/fees etc. by logging into your account. The no intl transaction fee is not going to secretly disappear in the middle of the night.

They can take away the 2% cash back anytime they want with no notification required, however, so that's one you might miss if it goes away.

leod
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Post by leod » Thu Nov 04, 2010 11:03 pm

still getting 2% CB and i hope they keep it :) this is my primary card

RabbMD
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Post by RabbMD » Tue Nov 09, 2010 4:48 pm

Just used it a lot in Spain and Portugal. Got good exchange rates on the ATM side and the credit card for the Euro and no foreign exchange fees. This was October till November 6thish...

natureexplorer
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Post by natureexplorer » Tue Nov 09, 2010 7:15 pm

I just received some checks for balance transfers from them. I think using the check would incur a 4% fee. Seems like they are giving it a shot to make this card profitable. If it works out, I wouldn'd be surprised if they open up applications again. If not, the question becomes whether they close the card or simply eliminate the cash back.

patrickrenault
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Post by patrickrenault » Sun Nov 21, 2010 4:11 am

natureexplorer wrote:Seems like they are giving it a shot to make this card profitable. If it works out, I wouldn'd be surprised if they open up applications again.

That would be a first for them. If you go to FIAs website, it's just a login screen.

FIA has lots of credit cards, but they are not offering a single one of them. Their partners/brands seem to do the marketing and offering, and the former Schwab card has no brand. They would have to either get into the business of branding and marketing credit cards, or they would have to pass the card off to another company.

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wander
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Post by wander » Thu Sep 01, 2011 5:41 pm

I've just heard that FIA credit card will soon be replaced by a new Bank of America credit card.

texas_archer
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Post by texas_archer » Thu Sep 01, 2011 9:00 pm

wander wrote:I've just heard that FIA credit card will soon be replaced by a new Bank of America credit card.


This sucks. The AMEX or the Visa?

Lacrocious
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Post by Lacrocious » Sat Sep 10, 2011 11:17 pm

Yes - I just got the letter:
1% every purchase
2% groceries *
3% gas *

* for the first $1500 of net combined purchases per quarter.

Can receive 10% bonus when redeemed into a BOA checking or savings account.

Time to start looking for other cards.
- L

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Lon
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Post by Lon » Sun Sep 11, 2011 3:04 pm

I just received a letter from B of A on taking over my FIA (formerly with Schwab Visa). I do not want to do business with them and will start using my Chase Freedom Visa that I have had as a backup as it will fit my overall needs better than other cards.

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Guest422
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Post by Guest422 » Sun Sep 11, 2011 4:09 pm

I have a fidelity visa and mastercard that go right to a 529 and I am pleased with them, and like that I can manage and pay both with the same web site. I think tha amex is 2% and the visa 1.5.
"The hardest victory is over self" | Aristotle

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topper1296
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Post by topper1296 » Sun Sep 11, 2011 4:22 pm

Lacrocious wrote:Yes - I just got the letter:
1% every purchase
2% groceries *
3% gas *

* for the first $1500 of net combined purchases per quarter.

Can receive 10% bonus when redeemed into a BOA checking or savings account.

Time to start looking for other cards.
- L


I just received that letter as well. I have considered finding another card, but I don't know if it is worth it. Do I really want to take the time to switch over all of my auto pay bills to another card when I have no guarantee that the new card won't drop/reduce their benefits as well in the future? Unfortunately, reducing/dropping benefits is the new norm in the world which we live in now.

natureexplorer
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Post by natureexplorer » Sun Sep 11, 2011 4:52 pm

I haven't gotten a letter yet from FIA, but one thing I will miss is that they display the details of temporary authorizations. I believe Capital One doesn't do that.

I see no reason to stop using the FIA card until the very day they actually stop having the 2% cash-back.

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Guest422
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Post by Guest422 » Sun Sep 11, 2011 5:24 pm

Will this impact the fidelity fia cards?
"The hardest victory is over self" | Aristotle

natureexplorer
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Post by natureexplorer » Sun Sep 11, 2011 5:26 pm

kevintmckay wrote:Will this impact the fidelity fia cards?
No.

Lacrocious
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Post by Lacrocious » Sun Sep 11, 2011 9:23 pm

topper1296 wrote:...Do I really want to take the time to switch over all of my auto pay bills to another card when I have no guarantee that the new card won't drop/reduce their benefits as well in the future? Unfortunately, reducing/dropping benefits is the new norm in the world which we live in now.


Agreed - but I will look around and if something comes that is better - I can transition - there wouldn't be a rush or anything. Start transferring the auto-payments until no more apear - then just leave the account open and put the card in the lock-box.

- L

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mattman22
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Post by mattman22 » Sun Sep 11, 2011 10:32 pm

topper1296 wrote:I just received that letter as well. I have considered finding another card, but I don't know if it is worth it. Do I really want to take the time to switch over all of my auto pay bills to another card when I have no guarantee that the new card won't drop/reduce their benefits as well in the future? Unfortunately, reducing/dropping benefits is the new norm in the world which we live in now.


Your card will transition to BOA's website. Your card number will also change. There really is no choice about switching the auto pay bills since the existing card will no long exist.

Lacrocious
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Post by Lacrocious » Sun Sep 11, 2011 10:45 pm

mattman22 wrote:...Your card will transition to BOA's website. Your card number will also change. There really is no choice about switching the auto pay bills since the existing card will no long exist.


That is true - I read that - but it didn't hit me until you mentioned it! Thanks. Time to start transferring them now.

- L

leod
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Post by leod » Sun Sep 11, 2011 10:49 pm

Besides Fidelity amex, which other cards is on everyone's list?
i cant take the fidelity as some merchants do not accept amex.

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interplanetjanet
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Post by interplanetjanet » Mon Sep 12, 2011 11:43 am

leod wrote:Besides Fidelity amex, which other cards is on everyone's list?
i cant take the fidelity as some merchants do not accept amex.

Fidelity's 1.5%/2% Visa can be thought of as a 2% cashback card with (up to) a $75 annual fee, as you miss out on 0.5% for the first $15k. Depending on how much you push through the card could make that either a small or a big problem.

Cap1 Venture is basically a 2% with a $59 AF as long as you buy airfare periodically:

http://www.plasticiq.com/blog/capital-o ... rd-review/

HSBC has a 2% Mastercard but it may be targetted.

Discover has a card that can yield 2% but again, acceptance issues.

-janet

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RaleighStClaire
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Post by RaleighStClaire » Mon Sep 12, 2011 1:56 pm

This is terrible. I guess I'll have to start using my PFCU card exclusively now. Is that card still 1.25% on everything and 5% on gas?
Where's that red one gonna go?

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interplanetjanet
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Post by interplanetjanet » Mon Sep 12, 2011 4:34 pm

RaleighStClaire wrote:This is terrible. I guess I'll have to start using my PFCU card exclusively now. Is that card still 1.25% on everything and 5% on gas?

I think the PenFed Visa is 1% on everything and 5% on gas. Fort Knox FCU (which I believe is affiliated with PenFed in some way) is 1.25%/5%.

I have a Mastercard from Barclays that gives 2% back on utilities/gas/grocery and 1% on everything else, no annual fee...utilities make up the lion's share of my charges that don't accept Amex so it works ok for me.

-janet

letsgobobby
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Post by letsgobobby » Mon Sep 12, 2011 8:11 pm

interplanetjanet wrote:
leod wrote:Besides Fidelity amex, which other cards is on everyone's list?
i cant take the fidelity as some merchants do not accept amex.

Fidelity's 1.5%/2% Visa can be thought of as a 2% cashback card with (up to) a $75 annual fee, as you miss out on 0.5% for the first $15k. Depending on how much you push through the card could make that either a small or a big problem.

Cap1 Venture is basically a 2% with a $59 AF as long as you buy airfare periodically:

http://www.plasticiq.com/blog/capital-o ... rd-review/

HSBC has a 2% Mastercard but it may be targetted.

Discover has a card that can yield 2% but again, acceptance issues.

-janet


Venture is my tentative plan, however, I already pay $65 per year for my very cool Marriott Premier Visa, and paying 2 annual fees is not ideal. It almost makes the Marriott card not worth using, except they give me a free Cat 1-5 night every year I pay the fee so that itself makes the card worth keeping. Cap One has no forex fee, I haven't checked to see the Marriott Visa forex charges.

Fido Amex retirement rewards is 2% I believe, but it means reopening a Fido IRA and I just moved most everything to Vanguard. AMEX acceptance issues.

Not surprising, it's part of life with the credit card churn lifestyle, use it up and move on. Definitely not a keeper card after 31 OCT.

mikep
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Post by mikep » Mon Sep 12, 2011 8:20 pm

Fidelity AMEX allows one to cash out at the 2% level in $250 increments.. no Fidelity account needed. This is good, since my son's 529 is getting kicked out from Fidelity.

It's a bit unclear from the thread.. is this card going away or not? Or only the Schwab cards that FIA inherited are getting the boot?

Lacrocious
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Post by Lacrocious » Mon Sep 12, 2011 8:47 pm

The Schwab card inherited by FIA is being converted to Bank of America.

The straight 2% cash back monthly will be gone soon, with new cards/numbers being distributed with different cash back scenarios already listed above in the thread.

- L

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interplanetjanet
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Post by interplanetjanet » Tue Sep 13, 2011 12:14 am

letsgobobby wrote:Venture is my tentative plan, however, I already pay $65 per year for my very cool Marriott Premier Visa, and paying 2 annual fees is not ideal. It almost makes the Marriott card not worth using, except they give me a free Cat 1-5 night every year I pay the fee so that itself makes the card worth keeping. Cap One has no forex fee, I haven't checked to see the Marriott Visa forex charges.

I have the same Marriott Premier card, I spend about 4 weeks every year in hotels for work and the nicest hotel near my office is a Marriott, so it made sense for me to get the card and pile up points. The Marriott card has no foreign exchange fee, though the rewards aren't great for non-hotel purchases:

http://www.plasticiq.com/blog/chase-mar ... rd-review/

Honestly if you need a Visa with a high rewards percentage for "other" purchases, I'd go for the Fidelity one instead. It beats out the Venture card for charges under $11800/yr, only comes out $16 behind at the worst case ($15k and up) and doesn't depend on a certain airfare-for-points redemption value. It's a better bet if you start putting some purchases on other cards with higher percentages (like groceries onto a Blue Cash Preferred, etc).

Fido Amex retirement rewards is 2% I believe, but it means reopening a Fido IRA and I just moved most everything to Vanguard. AMEX acceptance issues.

I think it's a better idea to get the investment rewards card, it can go to any account.

-janet

EagertoLearnMore
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Post by EagertoLearnMore » Tue Sep 13, 2011 1:59 pm

I received the Fia letter today. Since it is coverting the Fia Visa credit card to Bank of America, don't you think that the Fidelity AMEX will also convert to the Bank of America card? The Fidelity AMEX is offered through Fia Cardservices. Maybe they are doing the Visa card first. I would find it hard to believe that they would overlook the opportunity to cut this card as well?

FedGuy
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Post by FedGuy » Tue Sep 13, 2011 2:52 pm

EagertoLearnMore wrote:I received the Fia letter today. Since it is coverting the Fia Visa credit card to Bank of America, don't you think that the Fidelity AMEX will also convert to the Bank of America card? The Fidelity AMEX is offered through Fia Cardservices. Maybe they are doing the Visa card first. I would find it hard to believe that they would overlook the opportunity to cut this card as well?


I don't think so. The FIA Visa was originally card issued in cooperation with Charles Schwab. Schwab pulled out, leaving FIA to re-brand the card, and now to discontinue it. There's no reason to think that this is part of a global effort on the part of FIA/BoA to rebrand all their cards. I assume that Fidelity wants them to maintain the Fidelity card, at least for now.

Of course, I could be wrong.

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