Bofa Vp Says Usvisa Termination-united Takeover

[USHenry]

Today when trying for the 8th time to get my Dividend Miles Visa reset with my picture on it the VP of the branch I went to said that of yesterday the Dividend Miles Visa program is mostly not offered to new cardholders and will be soon switching to United Visas. She said that on their employee bulletin board it was posted that United would soon be assuming the assets of USAirways. In fact, she told me that "USAirways is going under" and I corrected her that I knew quite a bit as I view these boards regularly. Her response was that she used incorrect language - but that they were told that United would soon be assuming most of US's assets and that their Dividend Miles Visa program was suspended as of yesterday.

When I log onto the BofA website I still see the Dividend Miles offerings.

I must admit I remain skeptical of this, but, it had me thinking if perhaps there was some truth somewhere and perhaps some insider information had accidently been breached?

But more importantly, it speaks of the bad state of affairs. Even if this is completely bogus, with the general public hearing that "USairways is going under" from any number of sources, I worry that it may help to become a self-fulfilling prophecy.

 

[LOVDPIEDMONT]

It's true. I checked with the CP line and my entire DM account was indeed converted to UA. I then checked my upcoming US tickets in my office desk and they too were changed to UA ticket stock.

Then a pixie jumped out of my hat and said it was all true , no, really!

 

[phllax]

I asked the manager of the BoA branch near me what was going on and he said pretty much the same thing, but that it would happen March 8. So I called the Visa line and they have no ideas. What makes it even less likely is that they need to provide us cardholders with at least 30 days notice of the change.

If you remember, one of the big hurdles for U exiting Ch. 11 was finding/keeping a bank to hand the credit card transactions. I suspect that BoA is going to be the new credit card provider for UA, and that is what' going to be announced on March 8. It's the only thing that makes sense at this point.

 

[Piedmont4US]

Really? Thats news to me if Bank One is pulling the plug on UA.

 

[N628AU]

No one working at a B of A branch has any more info on what is going on around this place as my aunt who says "US Airways, aren't they going out of business", or a certain A320 Captain on these boards has.

 

[usfliboi]

No one working at a B of A branch has any more info on what is going on around this place as my aunt who says "US Airways, aren't they going out of business", or a certain A320 Captain on these boards has.

Amazing the things we will waste our finger energy typing on !

 

[cavalier]

Amazing the things we will waste our finger energy typing on !

The nice thing about being a celebrity is that when you bore people, they think it's their fault.

 

[usfliboi]

The nice thing about being a celebrity is that when you bore people, they think it's their fault.

As you know i was referring to the constant " I heards"

 

[Rob]

UAL isn't *that* much more liquid than USAirways. At the end of January, UAL reported only 650 million unrestricted cash, while US's unrestricted cash was about 400 million at the end of December - less about $25 million burn in January. Considering the size difference, UAL may be worse off.

 

[767jetz]

UAL isn't *that* much more liquid than USAirways. At the end of January, UAL reported only 650 million unrestricted cash, while US's unrestricted cash was about 400 million at the end of December - less about $25 million burn in January. Considering the size difference, UAL may be worse off.

Correction... You have the numbers backwards.

Of the $2.2 Billion, $650 Million is restricted. That leaves about $1.6 BILLION in unrestricted cash.

That means UA has 4X the amount of cash on hand as US.

UA is not 4X bigger, so your size comparison would mean that US is at least twice as worse off as UA.

Big difference.

 

[N628AU]

Yes, those numbers are backwards, but US has over a billion in unrestricted cash. UA has something like $500 million more in unrestricted cash. Given the size difference and difference is revenue generation ability, I'd say it is pretty much a wash.

 

[ojxux]

just ask chip he knows all.

 

[767jetz]

Yes, those numbers are backwards, but US has over a billion in unrestricted cash. UA has something like $500 million more in unrestricted cash.

I don't know the exact numbers, but I think you are mistaken about US unrestricted cash.

Does anyone have the link to this info?

One other point, US is burning through more cash than UA every day.

 

[Art at ISP]

To get back on topic,


My statement, both on line and in print, for the DM Visa still show US Airways, and during a recent attempt to lower the rate on the card (successful I might add), there was no mention of an affiliation change.

I think that UA might move over to B of A next week, but it has no bearing on US Airways credit cards in my opinion--there are many banks which work with more than one airline.

 

[Heinrich]

BofA already has Alaska & America West, Art, and you make a good point.

The rest of you who are personally insulting an individual who has not even posted in this topic need to take a good long hard look in the mirror or go visit a therapist. The moderators should not tolerate that junk.