Here's a comment left by a reader on my post titled Schwab Visa Down for the Count?:
Just spoke on the phone with Schwab and FIA.
They are planning no change to benefits except that the new card will have no Schwab logo on it and you won't be able to see it on the Schwab website.
The replacement card will be a 2% cash rewards FIA card.
Credit line and APR remains the same.
There will continue to be no fees on international transactions.
Cash rewards will continue depositing into the Schwab brokerage account but you can switch to a non-Schwab account after the transition if you want.
I sure hope this is true. I guess time will tell...
That would be great, if true!
"but you can switch to a non-Schwab account after the transition if you want."
If anything, that would actually make the card better.
Posted by: Texas Wahoo | September 27, 2010 at 10:18 AM
Thanks for the update. I hope it's true, I have not seen anything in the mail from FIA.
Posted by: Mary Kate | September 27, 2010 at 01:33 PM
I'm hoping FIA just sort of forgets about all the money we're costing them and keeps us on the balance sheet. Seriously, the cost of the cashback rewards is sometimes more than the merchant pays to the card companies!
Posted by: Charles | September 27, 2010 at 06:24 PM
I signed in to my account this morning and was able to re-direct my cash back to my checking account (away from my Schwab brokerage, which was only used to collect $ from this card). If the 2% continues, I'm thrilled with the change!
Posted by: Matt | September 28, 2010 at 08:45 AM
I haven't gotten any letters from FIA yet - (A) what site do you log into , and (B) same username/pw as teh schwab site?
Posted by: Josh Stein | September 28, 2010 at 10:07 AM
I've always logged-in at fiacardservices.com. Logging in from schwab.com will be shutdown in the near future.
Posted by: Matt | September 28, 2010 at 11:08 AM
Logging in from Schwab has been shut down and still no message from FIA about the future of this card.
Posted by: zyxw | September 30, 2010 at 11:45 AM
One final update - my first 2% cash back deposit posted to my personal checking account today. I'm happy.
Posted by: Matt | October 05, 2010 at 11:23 AM
Schwabbankcreditcard.com also works and redirects back to https://www.ibsnetaccess.com/ where you can log into your card account.
Click on "REWARDS" and you can change where your 2% goes to any checking or savings account.
Posted by: StevieD | October 06, 2010 at 11:53 AM