Should You Keep Your Amtrak Credit Card After It Changes Banks?

·3 min read

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Like many Amtrak® Guest Rewards® cardholders, I got a letter in the mail a few days ago saying that I would get a new card in the mail by October 23, 2022.

The reason? Amtrak credit cards will no longer be issued by Bank of America (BofA). Instead, they will be issued by FNBO (First National Bank of Omaha).

This isn’t the first time the cards have changed issuers. A few years ago, a similar change happened when Amtrak switched from Chase to BofA.

As an avid credit card geek, I’ve been digging through forums to understand the change. I even called FNBO to double-check the information. Here’s what I found about the switch and why I’m going to hold onto my Amtrak Guest Rewards credit card.

What Is Changing for Amtrak Guest Rewards Credit Cards

Amtrak Rewards cards

There were two Amtrak Guest Rewards cards issued by BofA: a no annual fee card and a $79 per year World Mastercard®. For the record, I opted for the no-fee card because of a 20,000 sign-on bonus promotion in 2020.

Changes to the No-Fee Amtrak Credit Card

As far as I can tell, the changes (or lack of) to the no-fee card are all positive.

  • Earn 2 points per dollar spent on Amtrak (no change)

  • Earn 2 points per dollar on dining (double the points!)

  • Earn 1 point per dollar on everything else (no change)

  • 10% rebate on food and drinks purchased on board with the card

Changes to the Amtrak World Mastercard

The changes to the Amtrak World Mastercard are more hit-or-miss. For starters, the card is now a Preferred Mastercard.

  • As a Preferred Mastercard, it’s not clear how this will change the benefits, but World Mastercard holders usually have perks that other Mastercard holders do not.

  • Earn 3 points per dollar spent on Amtrak (no change)

  • Earn 2 points per dollar spent on qualifying dining and travel purchases (previously just travel)

  • Earn 1 point per dollar on everything else (no change)

  • 20% rebate on food and drinks purchased on board with the card

  • One free companion pass, one seat-class upgrade, and one free lounge pass every year (no change)

  • $99 annual fee (previously $79)

If you have an Amtrak credit card issued by BofA, you don’t need to do anything to receive the new FNBO card. Your points and credit limit will transfer over to your FNBO-issued card.

Keep in mind that you will get a new card with a new card number. If you have bills on autopay, you will need to change those payments to your new card number. If you’re thinking of canceling your Amtrak card, you’ll want to change your autopay to a card you plan to keep.

Worth Checking Out:

Is the Amtrak Guest Rewards Credit Card Worth Keeping?

This depends on a few factors. First, do you have the no-fee card or the card with the annual fee?

If I had the Amtrak World Mastercard (the one with the annual fee), I would likely cancel or downgrade to the no-fee card.

The only considerations that might make me keep the annual fee card would be if I really wanted the companion pass and/or frequently used Amtrak. Otherwise, the 2x points on dining doesn’t justify the price increase, and there don’t seem to be any additional perks.

Because I have the no-fee card, I am going to keep the Amtrak Guest Rewards. The only reason I would cancel is to have a shot at any sign-up bonuses that come along after the card transfers to FNBO.

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