Phony credit card conversion notices

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Christopher Paolini
 
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Phony credit card conversion notices

Postby Christopher Paolini » Sat Oct 02, 2010 1:20 am

I've been an AT&T Universal Rewards card holder for 10 years, in good standing. A month ago I received a letter in the mail from AT&T Universal saying "Congratulations! Because you're one of our exceptional card members, we're upgrading you to a new card: the AT&T Universal Rewards World Elite MasterCard". When I received this letter I thought to myself "Wow! I finally am getting a top tier card! (the World Elite MasterCard)". Well today I received a letter in the mail saying that my card was converted to the World MasterCard (not World Elite). I'm pissed! :mad: Any suggestions on what I should do? I'm holding in my hand the "Congratulations" letter (I saved it).


jeffysdad
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Postby jeffysdad » Sat Oct 02, 2010 5:11 am

I don't know but perhaps the "elite" is available for an annual fee whereas the regular "world" does not charge a fee? If that's not the case, they promised you an elite card and that's what they should have provided. However, there's surely an out for them in the fine print ("...subject to terms...credit score, etc...").

I had a Universal card years ago before Citi took it over. At some point I closed that account. Last year I opened a Universal card with Citi to get the rebate on my AT&T phone and Universal tv/internet bills. While it's a good deal if you have those services, I found Citi to be too much trouble to deal with and closed the account.

Unless you are taking advantage of an AT&T/Universal rebate with the card, I think you can find a better rewards card elsewhere.

As an aside, it might be that the status designations of the 1980s and '90s (gold, platinum, etc.) are coming back in the form of "signature, world, world elite." I wonder if it might be because banks/cards don't want to fight each other based on rewards in light of the stricter and more costly credit card rules recently enacted; they're going back to appealing to consumer egos. For me, I'll take a card with a big reward over a status card any day.
American Express: Blue Cash Preferred (groceries, 6%; gas, department store, 3%); Gold Delta SkyMiles (Delta Air Lines, 2 miles/dollar, free checked bag).
US Bank: Cash+ (utilities, phone, internet, restaurant, 5%; drugstores, 2%).
FIA Card Services: Fidelity Amex (everything, 2%); Fidelity Visa (everything, 1.5%).
Chase: Freedom (rotating, 5%); Amazon (Amazon.com, 3%); PriorityClub (IHG hotels, 5 points/dollar); Sapphire (not in use).

*All cards are registered with PriorityClub IDine program for 8 points/dollar at participating restaurants.

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Mogul of Pineapples
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Postby Mogul of Pineapples » Tue Oct 05, 2010 4:44 pm

As an aside, it might be that the status designations of the 1980s and '90s (gold, platinum, etc.) are coming back in the form of "signature, world, world elite." I wonder if it might be because banks/cards don't want to fight each other based on rewards in light of the stricter and more costly credit card rules recently enacted; they're going back to appealing to consumer egos.


That and the other reason is that Signature, World, and World Elite cost merchants more in processing fees. They're calculated at a higher tier so I think that's the ultimate driving force behind their upgrades.
Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed and linked to. 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: Chase Sapphire Preferred

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Cucumber
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Postby Cucumber » Thu Oct 07, 2010 2:28 am

.....and..... those cards have no credit limits so the banks like 'em bec theyre less risky bec spending can be cut off whenever they feel like it
OBAMA
Stop talking crap about him!

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Mogul of Pineapples
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Postby Mogul of Pineapples » Wed Oct 20, 2010 9:01 pm

Cucumber, I think it might be time to update your signature.
Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed and linked to. 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: Chase Sapphire Preferred

ronnieloo
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Postby ronnieloo » Tue Jan 04, 2011 1:25 am

what i see is that the conversions to a new card are not always a better card. i had a chase card that was switched and the letter i got informing me spun the story in a way that it was a change i was lucky to have. the new card rewards i got were not anywhere near as good as what i was getting previously.



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