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May 14, 2013

Bank of America and credit card points

by soniasur

I had to go into Bank of America today to tell them that I would be traveling for the next couple weeks and I decided to look into what I’ve dubbed a “big girl” credit card. I was actually pleasantly surprised by the information that the woman there gave me. 

First of all, just to give the BofA lady some props, she was so helpful and possible one of the most polite and accommodating bank workers I’ve ever talked with…so points for BofA there. But also she told me about some of their credit cards and the benefits/cash back/points you can get for them. She started off by telling about the cash back card, which is pretty standard. However it got interesting when she started telling me about their “travel” card. 

She started out with, “I used to really not like our credit card options…the travel card accumulated you points, but you had to go to a website and count them, then it was very complicated to redeem them.” However she said that BofA recently changed this program and got rid of the need to go online and count these points, which made the entire process very complicated and really discouraged customers from even taking advantage of the points. Now, though, the points are automatically applied to travel purchases for you, eliminating all of the complications. What was cool was that you could tell she was genuinely excited about it too.

We’ve talking about airline miles and hotel points and all of those things and how generally, using them takes so long that it become discouraging and frustrating for loyalty program members. It implies that the companies do not want customers to actually reap the benefits, they just want their “loyalty”. I think consumers are becoming less and less content with systems like these…they will either demand to get their benefits or they will switch to companies that treat them better. 

While I don’t know if BofA has the best options for credit cards for me or not, I do think this new type of program is taking a step in the right direction.

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