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First National Bank of Omaha Credit Card

September 28th, 2007 at 08:27 pm

I have a FNBO Credit Card. This was my first card...I have had this card since 1996. I use it periodically, but never keep a balance on it. I also have a Chase Visa that I use every now and then. I recently got an offer for an American Express card with $22,100 limit, 0% interest, 0% balance transfer fee. So, since the FNBO was empty, and the Chase Visa didn't have much (only what I had bought that month) I transferred $2500 from AmEx to FNBO and $2500 to Chase Visa. Once that posted, I requested checks from these two cards. FNBO was no problem, got the check right away. Chase Visa wouldn't refund the full $2500, because I had a balance on there, but did refund me $2400ish, and I replenished that money with some from my spending money, so I had $5000 in my new 6.0% checking account.

That was easy, and I still had $17,200 credit left on the AmEx (after the first $100 payment). This time, I requested $17,100 of that transferred to FNBO. Here, I ran into problems. The money posted 9/14 and I called that day to request a refund. The guy said that they had to wait 5 business days to make sure the check cleared. ? That didn't happen the first time! He said the earliest he could request it was this Tuesday (9/25), but he would take care of it. I checked today, and that still hadn't happened. So, I called customer service. I requested the check, and after 10 minutes on hold, the lady said "accounting is backed up. It will be 8-10 days before it will get through accounting, and then we will mail it." I said, "well, that's terrible customer service. Can you bump me up to the front of the line because I called about this over two weeks ago and the other person I talked to said he would take care of it and he didn't?" She said, "hold please" Another couple of minutes, and she came back to tell me that they are cutting it now and I will receive it in 7-10 days, I assume because of the mail.

So, things I've learned...
- Next time I do one of these, I'll do it the same way, where I request a bit of money first and then a bigger chunk later. That way, if the bigger chunk doesn't get her right away from the intermediate transfer, I'll have the money to pay the first credit card and not have to dip into other money.
- Don't trust the customer service guy to follow up on your problem. I should have called back on Tuesday and Wednesday and Thursday...until I got what I wanted.
- If their solution isn't acceptable, tell them that, and tell them what you want. Their goal is to keep your money as long as possible, while if you are playing this game, your goal is to get the money as soon as possible. Keep asking them until they agree.
- I think the initial problem came because my credit limit on the FNBO card was $15,000 and I was requesting a check for $17,100. If it had been below the credit limit, I bet I would have gotten the check when I first called two weeks ago.
- This was still worth it, even with the hassle. I'll make about $1000 on the AmEx money sitting in a 6.0% checking account for a year (taking into account the monthly payments of 2% of the balance and getting it completely paid off before the interest hits), so some mouse clicks to initiate the transfer and two phone calls for 20 minutes each to get the check is worth that!

6 Responses to “First National Bank of Omaha Credit Card”

  1. Ima saver Says:

    Wow, where are you getting 6%??

  2. cptacek Says:

    Equity Bank. This is the bank that Sweeps had to take off the list over in the forums because it was only available to people living in Kansas or Missouri, and you had to sign papers in person in order to open it. 6% checking...and when I went past the bank yesterday, they hadn't changed it since the rate drop!

    If anyone is in Kansas or Missouri, I think this would be a great account to open:

  3. cptacek Says:

    Talked to Meghan - Kearney Location on Monday, October 8. She said tonight that it was approved today, and that it still needs to be printed and then mailed. She said that it will take 3-5 days to print and be in my mailbox.

    Probably what happened is that it took 5 business days before they could approve it. I forgot that Monday was a bank holiday and that it has only been 5 business days.

  4. cptacek Says:

    Got the check today, and deposited it at Equity Bank. Every day the money wasn't in the account cost me $2.86, so the delay from 9/14 - 10/17 cost me ~$91.44. But now that is in there, I'll be making quite a bit.

  5. Tony Roberts Says:

    Coulee Bank ( ) offers an incredible 6.01% APY with their Rewards Checking account. The rate is easy to earn. All you have to do is make 10 check card transactions a month, use e-statements, and do 1 automatic payment a month (they call it ACH). Coulee Bank pays 6.01% on the first $25,000 and 1.01% on anything above that. The best thing about this account besides the rate is it is FREE, you can apply online, and it is from a great bank with real people that answer the phone. And as they like to say, Banking Green has its Rewards. The Rewards Checking account saves paper and preserves our natural resources. No wonder I feel good about recommending this to everyone I know. Check it out. I guarantee you will love it.

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