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About LinkBacksI received the below from them. Believe it or not I currently do not have a rewards card. If I accept the offer will they do a hard pull on my credit report or do they just upgrade it? I couldn't find anything mentioning a credit inquiry. Just said to continue using my current card until I receive my new one.
Anything out of the ordinary bad or good with their rewards program I should be aware of?
Dear XXXXX,
As a valued customer, you have been selected for a complimentary upgrade to the Bank of America® World MasterCard® credit card with no annual fee. You're sure to enjoy superior service and the added flexibility of WorldPoints® rewards – redeem points for cash, travel, merchandise and more.
Your World MasterCard Benefits
• Earn one point per retail dollar spent - rewards starting at just 2,500 points1
• Unlimited cash rewards, travel on all major U.S. airlines (no blackout dates), hotels, car rentals, brand name merchandise, gift cards and more.
• Added flexibility to spend without a pre-set limit2
• Exclusive offers and discounts for fine dining, travel, shopping and entertainment
• Protection for your purchases with Extended Warranty and Price Protection coverage3
• Enhanced travel benefits with Master RoadAssist® Roadside Service and Trip Assurance-trip cancellation and trip delay protection
• ID Theft Protection including assistance in reporting suspected fraud3
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Green Member
- Join Date
- Aug 2009
- Location
- Minnesota
- Posts
- 2
Received offer to upgrade to Bank of America World Mastercard (Worldpoints rewards)
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Centurion Member
- Join Date
- Apr 2008
- Location
- Big Island, Hawaii
- Posts
- 107
I don't know if I would do a World Mastercard. They don't have a preset credit limit so there is no credit limit reported to the bureaus as far as I know. This can really mess with your scoring.
I would look at some of the other reward cards out there. You can do better than the 1% this one offers.
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Green Member
- Join Date
- Aug 2009
- Location
- Minnesota
- Posts
- 2
Man I didn't even think of that. The card I have now is the one that I have the longest history with too. Good thing I posted here before jumping on the offer and screwing myself over big time. Thanks.
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Centurion Member
- Join Date
- Apr 2008
- Location
- the edge of the world
- Posts
- 440
It is also important to note that the primary reason they try to get customers to upgrade to the World Mastercard or to the Visa Signature card is because these are more profitable. These cards carry higher interchange fees on each transaction which the merchant must pay. The banks are ingenious with marketing this upgrade option by adding the appearance of prestige and luxury to the category. In reality the added benefits for the customer are trivial, at best.
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Centurion Member & Moderator
- Join Date
- Jun 2008
- Location
- Smogland
- Posts
- 1,400
For the reason Fresh mentioned, that's why credit card companies don't seem to usually care if you open up a business card and don't have a legitimate business. Business cards carry higher processing fees they charge the merchants, so most credit card co's kind of apply a "don't ask, don't tell" policy when someone applies for one.
Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed. Regardless, anything I say is my honest opinion.
Current Cards: American Express: Blue Cash, Simply Cash Bank of America: WorldPoints Platinum Plus Chase: Amazon, British Airways, Cash Plus Rewards, Freedom, Ink Cash Citi: Thank You Premier, Dividend Platinum Select Discover: More
Primary Everyday Card: American Express Blue Cash
Primary Travel Card: Citi Thank You Premier
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Centurion Member
- Join Date
- Apr 2008
- Location
- White Plains, NY
- Posts
- 128
Not to mention the rewards on the World Mastercard aren't anything to write home about. It's only 1% or so.
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