"Could Offer Better Rewards"

The Merrill+ Visa® Credit Card Review
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Written by: jmicks on 2010-03-11

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jmicks's review: Applied for this card Feb 22nd through Merrill Lynch financial associate, initially got denied. Called FIA card services (as I didn't want the hard pull on my credit score to go to waste) and aggressively negotiated with them, got approved with $5000 CR.

About me: 2nd Card, first card BoA student platinum plus.

TU Score: 729, no late payments, little/low debt.

Rent.

Annual income $50,000

Honestly though, the reward points equate to approx 1 dollar per $100 spent (1% cash back) so the card is not THAT worth it. You do get double points but they're more on luxury items, such as high class hotels, cruises, broadway shows, etc. For the avg consumer, I would recommend something more consumer friendly like a Citi card where they offer you 2% cash back on groceries, gas, etc. I have to say the cool, black sleekness of the card is cool though (but don't let your aesthetic taste fool you!) I haven't tried to concierge services but again it seems like all the services they offer you cost a lot of money. I don't know why people rave so much about this card, but I guess as I climb the wealth ladder in the future the upper echelon rewards of the card will unlock itself :P

3 Comments

Comment 1 by wanderer
Re: Could Offer Better Rewards on 2010-03-11

CONGRATS! Your approach of NOT backing down with FIA is great! Better yet $5K CL (nice). Agree with you on the card. People fawn over it and I have no clue. I have a Chase Visa Freedom Rewards Card and that has pumped out the rewards! Anyway, you are to revered for NOT wasting a hard credit bureau hit with FIA. They can go away! Nice work!
Comment 2 by jmicks
Re: Could Offer Better Rewards on 2010-03-12

Lol thanks Wanderer. Yeah had to wait FOREVER with FIA to get it cleared, with multiple calls. When I finally got through though, I have to be fair: the credit analyst guy was pretty nice and helpful. I've got my eye on a 2% cash back card from Charles Schwab with any purchase(have to link it to a brokerage account though), and will probably be using this card only for times of emergency. Thanks for the positive encouragements. :)
Comment 3 by colonative
Re: Could Offer Better Rewards on 2010-03-13

If you do apply for the Charles Schwab Visa just keep in mind that it too is a BofA/FIA Card Services card. They way BofA has been lately they will likely give you a hard time applying for it if you already have one or more BofA cards. Sounds like you already got the inquisition when applying for this card.
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