REI has sent out an e-mail to existing cardholders stating they have chosen Capital One to issue and managed their cobranded credit card. Previously this was managed by U.S. Bank. At this stage we just know that the change over will happen on August 5, 2022. There are some changes to the card as well:
- $50 annual credit toward REI Co-op Experiences
- Card will earn 1.5% back on all purchases (previously 1%)
- Rewards won’t expire
I wonder if the new card will include a complementary cell phone protection plan like the current US Bank card does
I just have to say capital one bank is the worst people to deal with everything they touch is ruined. you never an can get a hold of customer service. I know for me even though I love REI I cant deal with this bank so once my account is paid off that is it for me
Please explain the annual $50.00 credit
Is this a fee to the card holder?
Or
An annual fee
Did you really just ask if a credit is a fee? Good grief.
“Important Changes to the Auto-Pay Program” notice from Capital One RE: REI credit card.
Any additional payments you make before your payment due date will not reduce the amount of your AutoPay payment or stop your AutoPay payment from being made. We will debit your AutoPay Bank Account each month even if you made other payments between the statement issuance date and Autopay payment date”
What?? Gotta be kidding. TIme to drop the card, before it transfers over to Cap1
The 1.5% reward is good, but only if it can be applied to credit card bill for all card purchases. If the rewards $ can only be used for REI purchases, then not good being forced to buy more REI store products. This in not stated in current cc literature and Capital 1 phone info wait was over 1.5 hours before I gave up. Anyone know answer?
Honestly I’ve never used the card outside of REI. How does it currently work US Bank? Are rewards based on non REI purchases not also issued as a co-op dividends?
rewards are based on rei products only
Hopefully it remains a World Elite MC (WEMC). Always liked that it was a no-AF WEMC card. That said, I hate C1’s tight approval process and their propensity for pulling all three credit reports. I’ve never gotten a C1 card for that reason
Will this “credit history blip” adversely affect our credit scores with Trans Union, et al? Please tell us the truth and not what you think we want to hear?
Why would there be a blip?
It appears that they are removing their 2% back on digital wallet purchases. I will not use the card for non-REI purchases unless it offers at least 2% on them.
Will the card number change? What will happen to payments that are set up as autopay with the BOA REI card?
I am somewhat concerned. My Cap1 CC and checking account was shut down a couple years ago. This will either get be a backdoor entry back into Cap1, or result in my REI card getting closed in the near future. This card has a 14-year history, so I don’t look forward to the blow to my Credit score if it gets closed.
Has anyone had a similar experience with a card account getting transferred to a bank that you don’t have a great relationship with (I’m sure there are some Costco Citi card holders out there).
There will be no “blow” to your score if closed, unless it’s your only card, or if you need it for UTI. The card will continue to report for 10 years and contribute to credit history. If you have at least a couple other cards there should be very minimal change.
I have several cards, but this is my second oldest.
I should at least move the CL to my other usb card.