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April 04, 2007

Bank of America, Evil

Bank of America has never had a very good reputation with me. Banks that become too big and impersonal just stink. Depressing news came from them yesterday, too: they are cancelling their support of The Linux Fund. My Linux Fund credit card has been the only card I've ever used. When the card was owned by MBNA, it would donate 1% of all of my purchases to the Linux Fund, which then used the money to support open source projects. BoA I guess decided that altruism was not profitable, and decided to can the program. Full letter text below.

Dear KEVIN WIGHTMAN:

Thank you for your participation in the Linux Fund Credit Card Program. Bank of America, the provider of your Linux Fund credit card, and Linux Fund recently agreed to discontinue the existing credit card program effective June 30, 2007.

What does this mean to you as a Linux Fund credit card customer?

We are pleased to upgrade your account to our WorldPoints® credit card program* with no annual fee. You will not need to do anything with your credit card. We will not be issuing a new credit card to replace your Linux Fund credit card until the expiration date, unless a new card is requested (provided your account is in good standing). Your account number will remaind the same.

Transactions made between your June 2007 statement closing date and July 1, 2007 will not earn points.

Starting on July 1, 2007, you will be eligible to earn points under the Bank of America WorldPoints program and your rewards can be viewed on www.bankofamerica.com/worldpoints.

Your new rewards program allows you to earn WorldPoints rewards that can be redeemed for merchandise, travel, gift certificates, or cash. This upgrade will not affect the use of your credit card, and you will begin earning points on your July 2007 statement.

With the new Bank of America WorldPoints program, earning points i seasy. There's no annual fee, and you will earn one point for each $1 of new retail purchases**. You may also choose to redeem your WorldPoints rewards for merchandise from leading brands such as Pottery Barn®, Sony®, and Gap® or at restaurants such as Ruth's Chris® and TGI Friday's®. Check out the WorldPoints rewards web site at www.bankofamerica.com/worldpoints for more details.

We encourage you to continue using your card, and we will continue providing you with the exception credit card service that you eserve. We also offer a wide variety of financial products. If you would like to discuss some of our exciting product choices, please call us at 1-800-421-2110.

Sincerely,
D. Reeves
Vice President
Bank of America

*Continued use of the credit card requires account to be open and available for use in accordance with the terms of the Credit Card Agreement
**Certain restrictions apply to each benefit. Visit www.bankofamerica.com/worldpoints for additional information.

It's all so depressing. I wonder if/when the Linux Fund will find another credit card company willing to take them on. They really have done a lot of good for a lot of projects. Plus I like having Tux on my credit card...it puts me in a unique class of Geek.

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