After launching BankAmericard nearly 50
years ago, Bank of America has announced that it will be bringing
back the card, which was the forerunner to the Visa credit card
brand and one of the first bank-issued credit cards to gain
nationwide acceptance. According to the bank, the new BankAmericard
will offer bonus points to customers who have at least one other
bank product, such as a checking account or a loan. From early
2008, BankAmericard customers can direct their cash rewards into
any deposit, savings, loan or brokerage account.

“It’s a product we’re bringing back primarily to give our customers
additional awards,” said Bruce Hammonds, president of Bank of
America Card Services. “We enjoy a relationship with one out of
every two households in the United States, so today, with products
like the BankAmericard Rewards card, we can offer unprecedented
benefits to more consumers in the country than any other financial
institution.”

Rewards and benefits

Unlike other rewards programmes, there will be no spending limit or
cap on earning points, and no annual fee. Every dollar Bank of
America customers spend on purchases using their BankAmericard
Rewards card earns 1.25 reward points. There is an annual rewards
bonus of 25 percent for customers who maintain their banking
relationship, and they will have the ability to cash in rewards
points by phone or on the internet. Cardholders will also have free
access to MyConcierge service, part of the WorldPoints programme.
This scheme will offer customers 24/7 services to help with
securing dinner reservations, event tickets and other offers.

“Customers should expect simplicity, flexibility and unlimited
benefits from rewards cards, and that is what we are delivering
with the BankAmericard Rewards programme,” said Ric Struthers,
North America card services executive, Bank of America.

The BankAmericard Rewards Visa card is currently available through
Bank of America’s 5,700 branches.

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