Originally posted by: Engineer
Now question time: I received a Bank of America - American Express card to replace my BOA Mastercard a few months ago. What is the difference between the AE card and the BOA - AE card? I might call BOA and tell them that I don't want the fucking AE card.
The card is underwritten by Bank of America, anything related to your end of the credit card is dealt with by Bank of America. The AE logo on the card means that AMEX has given Bank of America the honor of using the AMEX electronic network to process the transaction. AMEX gets a cut of the fee, but carries zero liability as far as defaults or the like. Because of that, AMEX will never have anything to do with canceling your card, cutting its limit, raising the APR, or any other adverse action.
The BofA - AE card has pretty good rewards points, some of the best BofA offers across their line of cards. I would suggest you keep it around because it helps you the most, just as long as you can accept that as a fair trade for AMEX getting a cut of any charge you swipe.