Got rewards points from using your favorite NFL team’s official credit card? Redeem them soon to get that Peyton Manning jersey or Dallas Cowboys helmet or they’ll disappear forever.
Consider it a two-minute warning from the National Football League and Bank of America: “After August 31, 2010,” the bank says on its NFL Extra Points program website, “Bank of America will no longer offer the NFL credit card program. All points must be redeemed on or before this date.” Otherwise, the points will expire.
To drive home the point, NFLExtraPoints.com features a giant countdown clock just below a headline that screams “Redeem your points before the clock hits zero! Last chance to spend your points.” The site also says that current NFL credit cardholders will soon receive more information on the situation.
So what’s driving this? The NFL is moving its credit card business from Bank of America — with whom its partnered for 15 years — to British-owned Barclays Bank. According to the Associated Press, Barclays’ new NFL program is set to debut in September. The NFL regular season begins September 9.
“Would you like a credit card with that?”
Credit cards have been served up like French fries at fast-food restaurants.
That’s about to change. According to a recent article in the Wall Street Journal (subscription required) about Chase dropping the Starbucks Duetto Visa card, credit card issuers are “pulling the plug on some of the specialized, reward-loaded plastic they pitched to consumers when credit was easy and wallets were wide open.”
Just as eating too many fries clogs your arteries, too many credit cards have caused financial arrest. The explosion of niche-branded cards — whose rewards are tied to a specific brand or product — has imploded consumers’ bank accounts.
You’ve almost certainly read news reports on the alleged terrorist plot that took shape around the anniversary of Sept. 11, including details suggesting a link between the attack’s funding and credit cards. But it also appears that aside from being aided by credit cards, the alleged terrorists may have also been undone by plastic.
I’ve been with the same bank all my life, and I don’t know why. But a Texas-based credit union has me questioning why I’m being so picky.
Are credit card thieves attempting to revive a slowing economy? Consumer spending makes up two-thirds of the United States economy, so recent data indicating that consumers are putting away their credit cards is cause for concern. While cardholders may not be using their plastic, thieves are. At least that’s what our latest round of credit card crime tales suggests.