Bank of America card holders with National Football League (NFL) Credit Cards only have less than two months to spend their remaining reward points on their card before they expire.
This is caused by the NFL's moving its credit card business from the Bank of America to the Barclays bank in Britain, in which the multi-year contract with the latter company had been signed just last June. And there is also the problem where NFL credit card holders could not transfer their reward points from the Bank of America card to the Barclay card.
The Bank of America has yet to give the reason why their contract with NFL, which had been held since the mid-1990s, had not been extended. Even the NFL declined to give any further comments about this issue.
According to Odysseas Papadimitriou, CEO of the credit card comparison site CardHub.com, the main issue of the NFL talks may have been about debit cards. Debit cards are more preferred by banks because customer accounts are usually kept longer by their owners, and that customers would hardly get into debt because their debit card charges are deducted automatically from their checking accounts.
Papadimitriou said that the two companies may have different cards, with the Bank of America may only have wanted customer to accumulate NFL points using debit cards while the NFL wanted their customers to spend more using those cards. If the latter situation could have been the case, the business could have become more valuable.
Marketing credit cards that have the NFL logos and the 32 teams in the league is Barclay's latest move in the sports marketing, and the company has agreed to pay at least $300 million for taking part in a marketing partnership that includes the naming rights the new NBA arena of the New Jersey Nets in Brooklyn.
NFL fans have been discussing how they would spend their remaining points in the "NFL Extra Points" program of Bank of America before it expires at the end of August. The NFL's new program with Barclays would start around September, in which the latter company is still forming its own points program for the NFL.
There are many prizes that fans could win with their reward points, each point is an $1 equivalent that had been spend on the NFL card. For 40, 000 points, fans could have a one-hour appearance with Miles, the mascot of the Denver Broncos. $10, 400 points would earn the winner team jerseys replicas. While 3, 250 points would be used to get head rest covers of the Pittsburgh Steelers. Other prizes that fans could win also include the privilege of visiting the game stadium before the start of the football game.