Rate increase on BoA RCCL Visa card (merged)

[Coralc]

"RC Seamiles Master Card"

is a different credit card and different program. Last I researched it...you had to book through their specified travel agency. They may not offer onboard credit as you seem indicate in your post.

 

The Royal Caribbean Visa issued by BofA is not restricted to a specific travel agency, and the reward program does offer onboard credit certificates as one of the "rewards"

[wblynch]

I don't have a problem with the banks making changes directed at bad credit holders, but why punish the good?

 

Because they can't get any money out of the bad ?? :mad:

[cruzin lady]

I think I had just about decided we applied for the wrong card. We were only going to use it to charge cruises, onboard purchases, etc. We always pay off balance at end of month, but we would never get enough points from the one we got to do anything---and we can't get onboard credit on the Master Card we got. Nor can we ever talk to a "real person!"

Thanks for your help on this. :) Why does everything have to be so complicated???

Cruzin Lady

[Retired LEO]

I hate to be so dumb, but do they automatically send the certificates, or do we have to request them some way? I have tried and tried to talk with a

"real person," but can't get any info.

 

Thanks so much for your help. :)

 

Cruzin Lady

 

 

 

This pretty much explains it.

 

http://www.royalcaribbean.com/content/en_US/pdf/credit_card_redemption_instructions.pdf

 

You can check it ou on the RCI website. It explains what you can get for each certificate.

[Aquahound]

This is not accurate. I never carry a balance, my APR is currently under 10%, and I received the notice from BoA that my rate is being increased.

 

Yep. Same thing here. They even quoted the "Money Rates" section of the Wall Street Journal in their explanation.

[Coralc]

Because they can't get any money out of the bad ?? :mad:

 

ROFL! :D:):) That is a great reply. and pretty much sums up our current economy! :D

[SA Traveler]

I've never paid attention to the interest rate since I pay it off every month so I checked the last few statements and so far no change to the rate or the credit limit.

[Coralc]

I've never paid attention to the interest rate since I pay it off every month so I checked the last few statements and so far no change to the rate or the credit limit.

 

Yessss....but have you been checking your snail mail for a midsize, white, unmarked envelope? That's where the information is...and the interest rate increase takes effect on May 1, 2009. :):rolleyes:

 

That's what's funny....I thought the same thing when I first started reading the posts about the rate increase. (It won't happen to me...never a balance/paid in full/never late) but then the envelope arrived.....maybe if you are Diamond + with Royal Caribbean, you won't receive one.:D (NOT)

[PhoenixCruiser]

Yessss....but have you been checking your snail mail for a midsize, white, unmarked envelope? That's where the information is...and the interest rate increase takes effect on May 1, 2009. :):rolleyes:

 

Exactly!!! We didn't have a balance either...

 

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[IBookHePays]

Yessss....but have you been checking your snail mail for a midsize, white, unmarked envelope? That's where the information is...and the interest rate increase takes effect on May 1, 2009. :):rolleyes:

 

That's what's funny....I thought the same thing when I first started reading the posts about the rate increase. (It won't happen to me...never a balance/paid in full/never late) but then the envelope arrived.....maybe if you are Diamond + with Royal Caribbean, you won't receive one.:D (NOT)

 

I thought after reading this thread that I would get the *dreaded* white envelope today, but NOPE!

I was wondering...do you think the rate increases have anything to do (or not to do) with whether you are a B of A mortgage customer?:confused:

[SA Traveler]

No midsized white unmarked envelope yet. I'll watch for it. I don't intend to ever carry a balance so the interest rate likely won't matter but I hope they don't lower the credit limit.

[Coralc]

I thought after reading this thread that I would get the *dreaded* white envelope today, but NOPE!

I was wondering...do you think the rate increases have anything to do (or not to do) with whether you are a B of A mortgage customer?:confused:

 

Nope...2 properties with BofA, 1 mortage, HELOC, and my mom worked for the bank (35 years) and retired as a regional manager. We still receive an employee discount....didn't help unfortunately. :D I could call them, I guess. But I don't know if really matters. We had an airline card for a while, with high interest. We cancelled it because of the annual fee...we never paid any interest.

[PhoenixCruiser]

i thought after reading this thread that i would get the *dreaded* white envelope today, but nope!

I was wondering...do you think the rate increases have anything to do (or not to do) with whether you are a b of a mortgage customer?:confused:

 

nope!

 

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[Coralc]

I will have to ask mom if she received a notice on her (non-reward) BofA credit card. :)

[PhoenixCruiser]

I will have to ask mom if she received a notice on her (non-reward) BofA credit card. :)

 

I have not recieved a notice on our Signature VISA with BOA (non-reward).

 

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[Pumbaamd]

We pay our RCCL BOA VISA in full each month. Have not received the notice.

R & D

[IBookHePays]

Nope...2 properties with BofA, 1 mortage, HELOC, and my mom worked for the bank (35 years) and retired as a regional manager. We still receive an employee discount....didn't help unfortunately. :D

 

Well, at least they're being fair and screwing everybody!:D

[printingchick]

I can't believe it! I pay my bill on line, twice a month, out of each paycheck. I don't carry a significant balance, despite the fact they frequently raise my credit limit. (Who charges $15,000 on a credit card? Do they think I'm going to buy a used car on plastic???) I was about to pay off my balance entirely with my tax refund, so I guess at least the timing is good. I can easily pay off the balance by May 1 and close out the account if I can't find a better rate. I'm not comfortable with that variable rate. She's telling me it's 12.9% now, but there's no cap! An adjustable rate mortgage can only go up once a year (or sometimes every three or five or even ten years) and there is a cap. With a variable rate credit card, how will I ever know how much interest I'm paying??

 

I'm going to look around. I've read banks are all raising their interest rates and most to variable rates. I'd hate to give up my RCL points, only to discover that I can't find a better rate elsewhere.

 

They were really nice about it. I've always found Bank of America customer service to be tremendously accommodating. But I'm not happy. I play by the rules. In this economy, a person who does NOT play by the rules gets bailed out...at the expense of those of us who are responsible. It's horribly unjust.

 

Stepping down off the soapbox...

[sweet angel]

I play by the rules. In this economy, a person who does NOT play by the rules gets bailed out...at the expense of those of us who are responsible. It's horribly unjust.

 

That's EXACTLY my gripe as well. What incentive does that give for "doing the right thing" when those who don't, get rewarded.

[fla-red]

I got mine. They wanted to change from 7.99% to 13.99%. I don't carry a balance. I called the number provided to stop this change and it was a standard recording of push buttons. When I called it was my understanding that the new rate would go into effect if you did cash advance, foreign exchange or had a recurring monthly charge on your card, but not for purchases. I may be wrong.

[printingchick]

I wrote to BoA to voice my displeasure. So far, I'm not really finding any better offers out there. CS quoted me a rate of 12.9% as of May 1. That's a 5% jump for me. I've had my card for a long time! The rate is apparently prime + 9.65. For those of us who decide to keep the card, our interest rate will be determined by where the prime rate goes. I might be able to get a rate in the 10's or 11's from another credit card supplier, but I'd be sacrificing my Royal Caribbean points, so I'm not sure that small percentage rate savings is worth making the switch.

 

I've been pretty comfortable up here on my high horse for the past year or so, hearing about others whose rates have been raised or whose credit limits have been slashed. I assumed that my responsbile behavior protected me from such actions. In the back of my mind, a little less-than-empathetic voice was saying, "Well...if they'd just paid their bills on time, this wouldn't be happening to them."

 

I guess I'll have to put that high horse out to pasture. It has happened to me now!!!

[hcat]

There are now about three threads on this--hope they'll be combined...I will try to post the threee links so they are together....

 

Fox News highlighted this raise in rates last night on one of its l segments but the person answering for BOA really inspired no great confidence! have not gotten anything yet from our Celebrity BOA card--but I am sure that'll be next

[bplazo]

I am looking into a new visa card with reward points since I am going to try a different cruise line. Does anyone have any recomendations?

[rednancy1]

We were just notified by BoA that our rate increased from 9.99% to 15.99%. :eek: I'm only sort of appalled because we don't carry a balance. :o

 

Please do remember this is not Royal Caribbeans's fault. It is BoA and these are indeed hard economic times. :)

 

Actually my favorite card is a Hilton Honors Citibank Visa. Several free hotel rooms each year. :)

[IBookHePays]

I am looking into a new visa card with reward points since I am going to try a different cruise line. Does anyone have any recomendations?

 

My DH and I use Capitol One for business expenses. It is very easy to redeem points for travel.