Amtrak considering shifting Credit-Card Portfolio away from BofA

[TinCan782]

Just realized that I cannot find the AGR Credit Card neither on BOA nor Amtrak website at now...

What I am afraid is that AGR will "divorce" from BOA with in next year... similar as their story with CHASE in late 2017.

Amtrak will bring in another bank card for AGR to replace BofA. Just like they did with the Chase>BofA move. There was little or no gap between the two.

 

[Exvalley]

It's odd that BoA just offered a huge sign up bonus.

 

[jis]

It's odd that BoA just offered a huge sign up bonus.

I suspect they will automatically convert everyone that does not explicitly discontinue the card, to a BoA house card when Amtrak moves somewhere else. Building their own portfolio.

 

[Bob Dylan]

I suspect they will automatically convert everyone that does not explicitly discontinue the card, to a BoA house card when Amtrak moves somewhere else. Building their own portfolio.

Yep, that's what Chase did when BOA took over the AGR Account as was said.

 

[pennyk]

A neighbor of mine, who works for Bank of America, told me that BOA is "dumping" all of its branded cards and will focus on their own cards in the future.

 

[MarkInAustin]

My BoA MC pulls from my credit union account. It took an extra ten minutes to figure this out so it was a bearable inconvenience.

 

[Exvalley]

A neighbor of mine, who works for Bank of America, told me that BOA is "dumping" all of its branded cards and will focus on their own cards in the future.

Capitol One is doing VERY well with their new Venture X card. I wonder if BOA sees some opportunity in a similar card.

The problem is that Amtrak travel can't be booked with these types of cards. In order to book with points you have to book through their travel portal - and Amtrak is not an option.

 

[jis]

Unlike in the case of change from Chase to BoA, where I retained the Chase card, If/when Amtrak changes away from BoA to something else, I do not plan to retain the BoA card in any form.

 

[Danib62]

The problem is closing out credit cards negatively impacts your credit score so this will just be another credit card that will get tossed in my drawer never to be used again (joining my other BofA card that also lost it's branding deal many years ago).

 

[jis]

The problem is closing out credit cards negatively impacts your credit score so this will just be another credit card that will get tossed in my drawer never to be used again (joining my other BofA card that also lost it's branding deal many years ago).

Fortunately the line of credit on that card is relatively inconsequential in my overall revolving credit portfolio, hardly any of which is used. It might knock down my FICO by a point or two. I can live with that. Though even that won't happen likely because the new AGR Card will come with its own line of credit which might be equivalent.

 

[jebr]

Capitol One is doing VERY well with their new Venture X card. I wonder if BOA sees some opportunity in a similar card.

The problem is that Amtrak travel can't be booked with these types of cards. In order to book with points you have to book through their travel portal - and Amtrak is not an option.

BoA released an "Elite Visa Infinite" - not publicly available but Doctor of Credit has some info here. It looks pretty uncompetitive compared to the Venture X, though there might be some use cases where it's better. I wonder if Bank of America is super concerned about building something like the Venture X (which likely costs a lot of money in the short-term for customer acquisition) or if they're happy with what they have.

I also noticed that BoA is still actively advertising their Alaska Airlines and Spirit Airlines credit cards, and Alaska and Spirit are also actively promoting them still. Not sure if it's just contract timing difference or if BoA is fine with those and just wants to shed Amtrak.

 

[SubwayNut]

I wonder if what ever issuer gets Amtrak. Metropolitan Lounge Access could be a new perk for their top of the line high annual fee Premium Card Memebers when traveling on Amtrak.

For example I'm thinking if AMEX became their card issuer AMEX Platinum Card Members whenever traveling on Amtrak even in coach would get Metropolitan Lounge Access (similar to the cards access to SkyClubs when flying Delta). I would also assume if Chase/Citi/Amex (I guess now CapitolOne is in the game) got the unique AGR Credit card portfolio their convertible points would now convert to AGR points.

 

[oregon pioneer]

Does AMEX have any no-fee cards??

 

[jis]

Does AMEX have any no-fee cards??

Yes, they do. Several. Including their Hilton and Delta affinity cards, plus the in house Blue card.

 

[JoshP]

My bro in law who works at Amtrak says rumors that Amtrak is in talks with Capital One. Once I get the confirmation and I'll share the updates.

 

[neroden]

You will earn AGR points on the BoA Amtrak card until you get a notice saying "no more AGR points after the end of thus-and-such billing cycle". At which point I will stop using the BoA card and get whatever Amtrak's new card is. After I have the new card, then I'll cancel the BoA card (since I don't intend to take out any other credit, the "hit" to my credit rating is irrelevant after I get the new Amtrak card)

 

[Exvalley]

My bro in law who works at Amtrak says rumors that Amtrak is in talks with Capital One. Once I get the confirmation and I'll share the updates.

If this means that you will be able to transfer Venture X points to AGR points I will be very happy.

 

[TheVig]

My bro in law who works at Amtrak says rumors that Amtrak is in talks with Capital One. Once I get the confirmation and I'll share the updates.

If this turns out to be true, then there is a 99% chance that Capital One will want to acquire BofA's current base of AGR credit card holders from BofA. If that's the case, us current card holders will get new cards from Capital One automatically, without the need to apply.

 

[StanJazz]

If this turns out to be true, then there is a 99% chance that Capital One will want to acquire BofA's current base of AGR credit card holders from BofA. If that's the case, us current card holders will get new cards from Capital One automatically, without the need to apply.

That would be good, but it also means no new sign-up bonus which is bad.

 

[jebr]

If this means that you will be able to transfer Venture X points to AGR points I will be very happy.

If they could also do Metropolitan Lounge access with a same day ticket like the AmEx Platinum has for Delta Airlines, that Venture X card may have just become the absolute best travel card for me, bar none. Pair it with the SavorOne for 3x back on dining, grocery stores, entertainment, and streaming services, and for a railfan that 2-card combo is hard to beat.

 

[Bob Dylan]

My bro in law who works at Amtrak says rumors that Amtrak is in talks with Capital One. Once I get the confirmation and I'll share the updates.

Let's hope this doesn't happen.( I prefer AMEX)

Based on what others have told me, and my own experience with Cap One, I consider them in the bottom tier of Banks with Wells Fargo, which is Low indeed. YMMV

 

[jis]

Let's hope this doesn't happen.( I prefer AMEX)

Based on what others have told me, and my own experience with Cap One, I consider them in the bottom tier of Banks with Wells Fargo, which is Low indeed. YMMV

My attitude about these things is Que sera sera..... It is a nice old song

But yes, Amex is excellent!

 

[joelkfla]

Let's hope this doesn't happen.( I prefer AMEX)

Based on what others have told me, and my own experience with Cap One, I consider them in the bottom tier of Banks with Wells Fargo, which is Low indeed. YMMV

I've never had a problem with Cap One, nor do I recall seeing them in the news about predatory or unfair practices, as I have WF & BoA. My no-fee card has an excellent array of shopping and travel benefits; OTOH AmEx discontinued almost all benefits on my card. The website is modern and easy to use, and cash back rewards are competitive and easy to redeem. I do notice that the card's APR is higher than most, but I never carry a balance so that does not concern me.

 

[Exvalley]

My only complaint with Capital One is that their travel booking portal is pretty awful.
A couple of observations:
1) You search for a room for four people and it only gives you rooms for two people as a option.
2) It does not show JetBlue fares.
3) The number of hotels are pitiful in some cities. I did a search for Hartford, Connecticut and it only showed me one hotel.

I was never a fan of the AMEX travel website, but Capital One's is much worse.

 

[jebr]

3) The number of hotels are pitiful in some cities. I did a search for Hartford, Connecticut and it only showed me one hotel.

I haven't noticed this particular issue. I just did a search now for Hartford and I'm seeing about a half-dozen in the immediate downtown area. In most areas I search, the selection of hotels seems to be pretty robust, even in small towns.

I will agree that the portal still has some work. I've been able to use it decently enough, but I've had some times where the listed rate just isn't there, and the website still doesn't seem to understand booking for more than two people clearly on the public-facing side of the portal (although a call to their customer service indicated that they had 3 people noted on their end - I ultimately had to cancel that reservation so I have no idea how that was passed through.)

However, I've found some very good deals on their portal as well - better than booking direct through the hotel, in fact. For me, that will probably steer me towards using it again despite its weird glitches, even though I've used up my $300 credit already (some for future bookings.)