Bye-Bye US Airways Debit Card

Bye-Bye US Airways Debit Card

US Airways Dividend Miles is the latest program to shed its mileage-earning debit card. Effective Sept. 30, 2012, members will no longer earn miles for spending with the US Airways Bank of America debit card. Cardholders will receive a prorated refund of the $30 annual fee for the cancelled card. Like most debit cards, it wasn’t particularly lucrative and earned only one mile for every two dollars spent. For members who don’t have a high enough credit score to qualify for a credit card or prefer debit cards, it offered a way to earn miles for everyday spending. Bank of America continues to offer the Alaska Airlines debit card but we would be surprised if that card sticks around. According to a report from Forbes, Bank of America’s revenue from credit and debit card interchange fees went from 1.49 billion in the third quarter of 2011 to 1.05 billion in the fourth quarter, after the Durbin Amendment that caps debit card swipe fees went into effect, a loss of $441 million.

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