Joined Oct 2017
L7: Teacher
Forum Thread
Banks offereing credit card trades
November 2, 2022 at
08:44 PM
in
Finance
(2)
Thread Details
This year I have noticed letters coming in from banks offering me to give up the card I already have for a different card they offer.
Letters always say trading cards will be fast and easy, but never do they spell out every difference between the old card and the new card.
Today I received 2 such offers in the same day.
Bank of America wants me to trade my 3% internet shopping card for their 1.5% on everything card. Boo. Hissss. However, if I do it, they will credit $200 cashback to my account when I spend $1000 by the end of March.
Wells Fargo wants me to trade my Yellow 1.5% on everything card for their Navy Blue 2% on everything card. There is no spending bonus on this one. This trade has no downside that is obvious, except that Navy Blue is a boring color, and Yellow is a unique color in my collection.
2 of these in the same day. Is there a hidden change to give banks a reason to push this?
Letters always say trading cards will be fast and easy, but never do they spell out every difference between the old card and the new card.
Today I received 2 such offers in the same day.
Bank of America wants me to trade my 3% internet shopping card for their 1.5% on everything card. Boo. Hissss. However, if I do it, they will credit $200 cashback to my account when I spend $1000 by the end of March.
Wells Fargo wants me to trade my Yellow 1.5% on everything card for their Navy Blue 2% on everything card. There is no spending bonus on this one. This trade has no downside that is obvious, except that Navy Blue is a boring color, and Yellow is a unique color in my collection.
2 of these in the same day. Is there a hidden change to give banks a reason to push this?
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Letters always say trading cards will be fast and easy, but never do they spell out every difference between the old card and the new card.
Today I received 2 such offers in the same day.
Bank of America wants me to trade my 3% internet shopping card for their 1.5% on everything card. Boo. Hissss. However, if I do it, they will credit $200 cashback to my account when I spend $1000 by the end of March.
Wells Fargo wants me to trade my Yellow 1.5% on everything card for their Navy Blue 2% on everything card. There is no spending bonus on this one. This trade has no downside that is obvious, except that Navy Blue is a boring color, and Yellow is a unique color in my collection.
2 of these in the same day. Is there a hidden change to give banks a reason to push this?
Typical game they play to get you off less profitable cards (from their perspective) imo. Typically I see offers to switch to annual fee cards (not a chance). Sometimes it might be worth it for the first year depending on the bonus offered (if they have one) but usually it is not or not worth all the hassle imo.
Wells Fargo wants me to trade my Yellow 1.5% on everything card for their Navy Blue 2% on everything card. There is no spending bonus on this one. This trade has no downside that is obvious, except that Navy Blue is a boring color, and Yellow is a unique color in my collection.
2 of these in the same day. Is there a hidden change to give banks a reason to push this?
Haha. I best BA wants you to ditch the 3%j card. The sad reality here is you have to actual choice. BA is just trying not to lose a customer. But they can discontinue the 3% and send you a 1.5% card with absolutely no bonus. And they probably will if you don't accept this offer.
However, it's also a good time to look around to see if there is another issuer that has a better card you might like. Personally, I detest BA. I "inherited" two of their cards went my original issuer was bought by them. I let them sit in the corner because they are old and I don't want to fiddle w/ my FICO. But I don't use them because the features are lousy.
As for Wells, my only guess is they are trying to consolidate similar card. Seems like a zero sum swap other than the color of the card. If you are really adamant about keeping your yellow card keep it until Wells forces you to go blue. They probably will eventually.
However, it's also a good time to look around to see if there is another issuer that has a better card you might like. Personally, I detest BA. I "inherited" two of their cards went my original issuer was bought by them. I let them sit in the corner because they are old and I don't want to fiddle w/ my FICO. But I don't use them because the features are lousy.
As for Wells, my only guess is they are trying to consolidate similar card. Seems like a zero sum swap other than the color of the card. If you are really adamant about keeping your yellow card keep it until Wells forces you to go blue. They probably will eventually.
FYI, in the mailer the Autograph card is crimsom red or maroon color.
However, it's also a good time to look around to see if there is another issuer that has a better card you might like. Personally, I detest BA. I "inherited" two of their cards went my original issuer was bought by them. I let them sit in the corner because they are old and I don't want to fiddle w/ my FICO. But I don't use them because the features are lousy.
As for Wells, my only guess is they are trying to consolidate similar card. Seems like a zero sum swap other than the color of the card. If you are really adamant about keeping your yellow card keep it until Wells forces you to go blue. They probably will eventually.
FYI, in the mailer the Autograph card is crimson red or maroon color.
Also in the same mailer is a different Wells Fargo card offered as a choice... a dark grey Active Cash card. It offers 2% on everything, however, it does not have car rental and no foreign transaction fee as the Autograph.