Step 4: Don't read the fine print!
I thought that acetone might be a good approach as it eats plastic, sadly I was wrong.
Next I tried a Dremel buffer wheel, nix that plan too. The wheel gets too hot and burns the plastic randomly.
The best way to remove the text ended up being a simple razor blade and some patience. Start at one side of the card with the razor blade vertical. Scrape the blade softly across the surface of the card and you should start to see the writing peal off. This'll leave the card a bit dull and scratched looking so you might have to sand it down with some 600 grit sandpaper. You can usually find sandpaper this fine at hobby stores.
If you want to take it a step further you could spray paint your own logo on the back with a stencil and then finish it off with a protective gloss.