NFL has credit card holders scrambling

Reward program moves to Barclays

July 06, 2010|Emily Fredrix, Associated Press

NEW YORK — The National Football League’s decision to move its branded credit card business from Bank of America to British banker Barclays is forcing customers to scramble to spend reward points before they expire next month.

On message boards, fans are discussing how they’ll spend their points in Bank of America’s “NFL Extra Points’’ program. They have until the end of August, just before Barclays’ new program begins in September.

Fans can get a one-hour appearance from the Denver Broncos mascot Miles for 40,000 points, Pittsburgh Steelers head rest covers for 3,250 points, or replica team jerseys for 10,400 points. Fans also can buy “experiences’’ such as visiting the field before the game. A point typically equals $1 spent on the card.

The market for credit cards affiliated with sports teams, universities, or other special-interest ventures has been growing and consolidating amid the financial shakeout. The NFL likes having credit card partners because it gets a cut of the business beyond the initial payment for the rights to the franchise. Credit card companies like the programs because rabid fans don’t need much convincing to sign up.

Bank of America Corp., based in Charlotte, N.C., won’t say why it and the NFL failed to reach agreement on an extension of a contract it has held since 1995. The NFL, which announced the deal with Barclays last month, declined further comment.

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