"xxx" wrote in
ups.com:
I also got the letter from them and initiated the correspondence
reprinted below. I can't say as the end of the rebate comes as a total
surprise, given the bank consolidation going on and the fact that many
of us only used the AOPA card when it would generate a rebate.
The note from Ms. Adams says that it will be a 2% rebate on all
purchases. This does not correspond to the original letter, which says
1% for most purchases, 2% on purchases from a list of qualified FBO's.
-----------------------------------------------------------------------
-------------------------------------------------
Thank you for your email to AOPA. While you no longer will receive 5%
cash back from the FBO rebate card, the new terms provide for you to
receive 2% on ANY purchase you make - not aviation specific. You are
not limited in the amount you can receive annually and you don't have
to go through the "rebate process" like you have in the past. The
updated program was designed to provide you with more options and to
make it more user-friendly.
If you have questions about the new program, please don't hesitate to
call 800-872-2672.
Barbara Adams
Aviation Technical Specialist
AOPA Pilot Information Center
800-USA-AOPA
301-695-2372 fax
Do your part to help GA. Find a new pilot today.
Sign up for PROJECT PILOT!
www.AOPAProjectPilot.org
--- Original Message Below ---
I have just received a letter from you detailing the changes to my
AOPA credit card account.
In my opinion, the new rebate formula is far, far worse than the old.
Either
3% worse of 150% worse, depending on just how you do your
calculations.
In either case, I don't like it.
The letter I got said nothing about % rebates. It clearly stated I
would get 1 "World Points" reward point for each dollar purchased and
"double points (two points for each dollar spent) for purchases made at
over 4,000 qualified FBOs and other select aviation merchants."
MBNA started offering an AOPA "World Points" card almost three years
ago. At that time, I called them and they simply asked me how I wanted to
divide my credit limit between the two cards. So, I've had an MBNA AOPA
MasterCard which gets me the 5% FBO discount, and an MBNA AOPA World Points
Visa Card which gets me the World Points at the rate of 1 point for each
dollar spent.
I took a quick look at the rewards schedule just now. If you select
cash, the value of each points is the equivalent of a 0.5% (1/2 of 1
percent) for redemptions of 2,500, 5,000, or 7,500 points, 0.8% (8 tenths
of 1 percent) for 10,000, 15,000, or 20,000 points, and 1% for 25,000,
35,000, and 50,000 points. Double the rebate value for qualified aviation
purchases.
For air travel, 25,000 points gets you a coach round trip in CONUS.
Alaska or Hawaii run 45,000 points. First class can be had for abut the
equivalent of a 1.5% cash rebate (ie, $1,500 first class ticket costs
100,000 points).
Merchandise appears to be approximately in this range. A Staples $100
gift certificates is 13,000 points.
In my opinion, this is a significant diminunization of the value of
the AOPA FBO rebate programs. I'm only surprized that it took this long
for BofA to take this action.
When I first obtained the AOPA FBO rebate card, it was on of the
better deals avaialbe. Not only did I get the rebate on FBO purchases, but
MBNA gave you 30 days grace period and did NOT add the unconscionable rip-
off surcharge of 3% to foreign currency transactions (you were already
paying a 1% surchage above the interbank rate to MasterCard or Visa to
convert the currency, and the bank provides absolutely no additional
service or value add). Now, were down to "at least 20 grace days", and the
3% foreign surcharge, which applies even if the foreign merchant charges in
US dollars.
IMHO, the Capital One Rewards card is a much better deal and I'll
probably switch to them at the end of the year. Capital One still gives
you 30 days grace and does not add the rip-off foreign surcharge.
--
Marty Shapiro
Silicon Rallye Inc.
(remove SPAMNOT to email me)