Further update: According to Miles to Memories that beginning November 17th there will be a new rewards value prop (proposition) that will not include anything related to the NBA.
Update: One reader received the following letter. New card will arrive in September.
As we pointed out earlier, BBVA no longer has the rights to the NBA. The reason we care is that they issue the BBVA NBA card and that earns 5% on all purchases twice per year (all stars weekend and NBA finals. You’re limited to $5,000 in spend per period). According to this myFICO post BBVA NBA cardholders will be converted to a plain American Express card (BBVA issued) on July 1st.
This card was exceptional, even if highly annoying due to fraud holds. At one point it was possible to get a $200 sign up bonus with no annual fee and then uncapped spending at 5% twice per year. It isn’t clear who NBA’s new financial partner will be but let’s hope they also offer outsized value.
