Question
I know there are some real heavy users of credit cards on here and there is plenty of information on the card on here. However, just reading the information does not seem to provide just the right answers to determine the value of the card. I would like those that have experience to post things that are good about the card and strategies that can be used to maximize the value of the card. What makes it better than say a DL SM AX card or a CC PPE card? How do you get the most benefit from the worldpoints or do you just spend for the extra benefits of +3? Here is a good format, list the level and what you recommend for that level and any value or strategy that you have received from it.
+ = Offers worldpoints and a 1.9% b/t with a 3% $75.00 max fee for 12 months.
+2 = Airline status match on AA.
+3 = Admirals club membership for one year (my favorite)
Answer
Merrill+2 AA status match is the most important benefit to me. I travel heavily on DL, but on occasion I travel on AA. The status match gives me AA Platinum and double miles on all of my AA flights. This adds up to around 5,000 bonus miles per year. I can also purchase upgrades on AA (and use them given my Platinum status) which is important. (I am too tall and wide for coach.)
This benefit easily offsets the fact that I am only getting 1pt per $ vs. 2pts per $ on other cards (for my first $20k spend)
If I only spend $50k per year, then Merrill+3 would be valuable to me. I would earn 1pt for every $ plus a DL Crown Room Membership (i.e. worth $250 for a DL Platinum).
However, if I spend $20k on Merrill+3 and then $40k on Chairman, I will earn 2 pts per $ for the $40k (instead of 1pt per $ on Merrill). This pays for the Chairman Card (which includes Priority Pass). This is my currently preferred model.
Priority Pass works well for me since it includes all DL Crown Rooms. However, an AA passenger may see more benefit in spending $50k on Merrill+ to get the Admiral's Club benefit. Then switching to a card with a higher point yield. OOPS--This statement about AA does not make sense. If you fly enough to get AA status or travel in AA First Class, it does not make sense to spend $50k to get an Admirals Club membership. You could spend that $50k on a cashback card and earn more value per dollar spent.
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The Merrill+ card does not offer WorldPoints. It has its own rewards program. Points can be pooled for redemption with other Merrill cards.
The card does have some decent credit features:
1. Low (relatively fixed) rate
2. Cash advances have the same rate as purchases, but there is a cash advance fee
3. 1.9% rate on balance transfers for 12 months
4. High credit limit (compared to my other cards)
I have not used the concierge for anything complex. However, the Merrill+ marketing materials indicate that they are willing to go above and beyond, e.g. wedding assistance, etc. Does anyone have any experiences to share?
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That is a good analogy. If someone were to only fly say 10k-20k per year on AA then would the AC benefit at +3 be worth the purchase volume to achieve it or would a cash back card net you more benefits than a +3 and just buy the AC membership. Considering all of the other benefits of +3, how does that stack up? I really thought mia would have jumped in on this one by now. To my knowledge you are the two most avid M+ users on here. Any others are welcome to speak up. :D
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...an AA passenger may see more benefit in spending $50k on Merrill+ to get the Admiral's Club benefit. Then switching to a card with a higher point yield. OOPS--This statement about AA does not make sense. If you fly enough to get AA status or travel in AA First Class, it does not make sense to spend $50k to get an Admirals Club membership. You could spend that $50k on a cashback card and earn more value per dollar spent.
If you spend $50,000 you would earn 50,000 points plus the AAdmirals club membersip. The membership costs $250 to $450 depending on status. If we assume the typical Merrill+ user will have at least Gold status (due to status match), the value is $400 (first year) or 0.8%, but the 50,000 points are worth at least another $500 or 50,000 BA Miles which can be redeemed for travel on AA.
I only use Merrill+ only for foreign transactions because my account still has no currency fee. The AA status match is no benefit to me. The AAdmirals Club membership would be nice, but there is a hidden cost of forgoing spending on Diners Club which is better for BA miles (although Merill+ did also offer a BA promotion in 2006.) Also, I do not like Merill's refusal to offer customer service by email, and their failure to publish new terms and conditions BEFORE the start of the calendar year.
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According to MIA the minimum benefit value is $900 for $50k in spending. A Fidelity Investment Rewards card would give $750 in deposits for $50k in spending. MIA is correct.
Beyond the $50k, you earn better value on another card that offers greater than 1pt per $.
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Also remember this cards goes at 1:1 ratio in BA. So this card in my option is better than Chase BA card as Chase card has annual fee of $75 and Chase never runs any type of bonus like Diners or Merrill. So spending $50K on Chase = 50K BA miles while if you spent $50K last year on Merrill you got 60K BA miles and +3 benfits to boot. While Diners would have gotten you 75K BA miles but no +3 benfits for $85 annual.
So as you can see Merrill is better than Chase's own BA card and it is a toss up between Diners and Merrill in my option depending on what is more important to you the miles or free lounge access.
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Centurion concierge for free = amazing value :p
Admiral's Club would also work well for me. between it and Plat, you could fly anything but UA/US (or LCC) and have lounge access.
IMO Merrill has 2 GREAT awards
-RC stays (much lower redemption rate than AMEX)
-MarquisJet (cheaper charters than Bombardier (AMEX's partner), and Merrill also has occasional promos, where redemption rates drop)
so for me, Merrill is the best backup card to AMEX (SPG and Plat)
i like the benefits of Saks WEMC and Lexus VI Sig, but they dont have good awards. (ill probably get them, but not carry them)
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Has anyone actually used the Merrill+ concierge for a complicated request?
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How to get the 1.9% rate? My rate is 5.9%
I know there are some real heavy users of credit cards on here and there is plenty of information on the card on here. However, just reading the information does not seem to provide just the right answers to determine the value of the card. I would like those that have experience to post things that are good about the card and strategies that can be used to maximize the value of the card. What makes it better than say a DL SM AX card or a CC PPE card? How do you get the most benefit from the worldpoints or do you just spend for the extra benefits of +3? Here is a good format, list the level and what you recommend for that level and any value or strategy that you have received from it.
+ = Offers worldpoints and a 1.9% b/t with a 3% $75.00 max fee for 12 months.
+2 = Airline status match on AA.
+3 = Admirals club membership for one year (my favorite)
Answer
If you spend $50,000 you would earn 50,000 points plus the AAdmirals club membersip. The membership costs $250 to $450 depending on status. If we assume the typical Merrill+ user will have at least Gold status (due to status match), the value is $400 (first year) or 0.8%, but the 50,000 points are worth at least another $500 or 50,000 BA Miles which can be redeemed for travel on AA.
I only use Merrill+ only for foreign transactions because my account still has no currency fee. The AA status match is no benefit to me. The AAdmirals Club membership would be nice, but there is a hidden cost of forgoing spending on Diners Club which is better for BA miles (although Merill+ did also offer a BA promotion in 2006.) Also, I do not like Merill's refusal to offer customer service by email, and their failure to publish new terms and conditions BEFORE the start of the calendar year.
Merrill+2:
- AA status match is difficult to value.
- Of course this has no value if (a) you never fly AA or (b) you already have AA status
- I fly AA occassionally, so this has value to me.
Merrill+3: Frankly I am impressed by the value (after doing the math)
- If you spend $50k on Merrill+ your benefits are 50,000 points plus $250 to $500 for the AA or DL club membership.
- This equates to a minimum of benefit of 1.5% to 2.0% per $. If you get some value out of the other benefits, this is higher.
- If you focus on the incremental value between Merrill+2 and Merrill+3, you earn 1.83% to 2.67% including just the 30,000 points and club membership. If you get other value from Merrill+3, this is higher.
- This may be devalued if: (a) you have a Priority Pass Membership and fly DL/CO/NW, (b) you have a AMEX Platinum Card and fly DL/CO/NW (c) you travel on airlines that make DL or AA club access useless, (d) you always fly first class, etc.
Beyond Merrill+3:
- Other cards can beat the 1pt per $ offered by Merrill+ hands down.
BTW...Merrill is running a promotion. Open a CD with $25k AND a new Merrill+ account, they with give you 15,000 points. See the link for terms and conditions:
http://askmerrill.ml.com/pp3/cd_landingA.asp?cpao=CDCMA&cpca=MultipleBenefitPages&cpag=149x106
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How to get the 1.9% rate? My rate is 5.9%
1.9% is the initial balance transfer rate for new accounts.
5.9% is the purchase rate for some older accounts.
9.9% is the current purchase rate
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Has anyone actually used the Merrill+ concierge for a complicated request?
there is plenty of discussion in amex forum if you search
http://www.snopes.com/business/bank/blackcard.asp features some of the more fantastic (and surely extremely expensive) requests
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there is plenty of discussion in amex forum if you search
http://www.snopes.com/business/bank/blackcard.asp features some of the more fantastic (and surely extremely expensive) requests
This site is for Centurion. I am aware that Merrill+ and Centurion both use Circles as a concierge service. However, this does not mean that Merrill+ card members get the same level of service as Centurion card members. That is why I would like to know what results Merrill+ card members have received from the concierge.
Does anyone have any first hand experience to share?
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hasn't it been established that they are exactly the same levels within Circles?
IIRC numerous posters with both cards have said this.
Merrill+3 = Centurion
Merrill+2 = Platinum
edit >>
http://www.flyertalk.com/forum/showpost.php?p=6371488&postcount=15
karthik says +3 = Cent, but isn't sure about +2 = Plat
http://www.flyertalk.com/forum/showpost.php?p=6719881&postcount=21
isn't clear how sure enclave is on this..
http://www.flyertalk.com/forum/showpost.php?p=4732092&postcount=10
Kyle53719 says he is not sure
i think there are more posts.. but they probably use "ML+2" etc.. i might try a google search.
anyway, i stand corrected. your question is a good one, more information from people with both cards would be good.
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hasn't it been established that they are exactly the same levels within Circles?
IIRC numerous posters with both cards have said this.
Merrill+3 = Centurion
Merrill+2 = Platinum
Hmmm... I have seen several posts that speculate on the similarity of Merrill+ concierge service and AMEX Platinum/Centurion. I have not seen a post by a Merrill+ card member that says that M+3~Centurion and M+2~AMEX Platinum.
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sorry, edited. kyle does have both cards. there are definitely more on FT with both, but they might not have posted any comparisons.
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-RC stays (much lower redemption rate than AMEX)
American Express Membership Rewards requires 35,000 to 55,000 points for one night at a Ritz-Carlton hotel, more for the "Ritz Carlton" hotels owned by Four Seasons or The Ritz in London.
Merrill+ requires 35,000 points at most locations, 45,000 at others, 47,000 for Club level and 48,000 for suites
Diners Club requires 31,000 points at all locations, 38,500 for suites.
I see some difference between American Express and Merrill+, but the best value seems to be Diners Club, unless I have overlooked something?
http://www.membershiprewards.com/catalog/search/Default.aspx?Ntt=ritz&Ns=Basic+Points%7cASC&Nao=48
https://card.ml.com/MLRewardsCenter/wCatalog/searchresults.aspx?type=1&text=ritz
https://www.citibank.com/dinersus/jsp/clubrewards/catalog/english/search.jsp
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sorry, i was just saying what my reasons for ML are
DC has a fee, no jet awards, and no chance for Admiral's Club
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Thanks!
1.9% is the initial balance transfer rate for new accounts.
5.9% is the purchase rate for some older accounts.
9.9% is the current purchase rate
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How to get the 1.9% rate? My rate is 5.9%
If you call and beg (I did) they will most likely still offer you the 1.9 to get you to do it. I got a sup and said I would not do it and pay a fee and 5.9, so he offered the 1.9 at the fee, I liked that better than opting for 5.9 w/o a fee.
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Also remember this cards goes at 1:1 ratio in BA. So this card in my option is better than Chase BA card as Chase card has annual fee of $75 and Chase never runs any type of bonus like Diners or Merrill. So spending $50K on Chase = 50K BA miles while if you spent $50K last year on Merrill you got 60K BA miles and +3 benfits to boot. While Diners would have gotten you 75K BA miles but no +3 benfits for $85 annual.
So as you can see Merrill is better than Chase's own BA card and it is a toss up between Diners and Merrill in my option depending on what is more important to you the miles or free lounge access.
Agreed, however you do get double BA miles when paying for BA tickets using that Chase card.
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...do get double BA miles when paying for BA tickets using that Chase card.
I value BA miles at about $0.022 each. It's worth paying $75 to receive the initial 15,000 (=$330), but for renewal the breakeven point would be about $3,400 of annual BA spending. If you buy more than one Club or First ticket per year this is worthwhile, but if you buy Traveller or Traveller Plus it comes down to the frequency of travel.
I would rather pay the Diners Club $95 annual fee and (typically) earn 1.5 BA miles per dollar on all purchases.
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Thanks for the info! I will give it a try.
Agreed, however you do get double BA miles when paying for BA tickets using that Chase card.
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Diners gives upgrades and two for 1 on ba.
As does Merrill+, and Chase BA Visa, and SaksFirst. BA is very promiscous.
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As does Merrill+, and Chase BA Visa, and SaksFirst. BA is very promiscous.
sorry, what do you mean by gives upgrades?
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It appears the upgrade option has been removed from the Diners Club version. Here is a link to the current Diners Club companion ticket offer...
http://www.dinersclubus.com/dce_content/personalcards/chargecardpersonal/corebenefits/britair
Substantially similar offer through Merrill+, but you probably cannot view it unless you have an account...
https://cards.ml.com/MLRewardsCenter/Rewards/MERRILL-PLUS-Terms-Conditions.htm#M_BA
The upgrade benefit is still described on the Merrill+ website, but it is missing from the Terms and Conditions and I expect this means it has expired, but here's what it said...
Exclusive offer for MERRILL+3 cardholders*
Upgrade from Club World to FIRST
Use Merrill Points or your card to purchase a qualifying, full fare, round-trip transatlantic ticket in Club World (business class) to London and receive a complimentary upgrade to FIRST where you’ll be treated like royalty, with seats that become secluded demi-cabins, allowing space and privacy and creating a comfortable oasis.
Here is the SaksFirst version, which still includes the upgrades...
https://www.saksfifthavenue.com/SaksFirst/british_airways.jsp
Here is the Chase British Airways VISA version...
http://www.britishairways.com/travel/offerusvisa2for1/public/en_us
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mia, I'm not trying to argue with you here, but look in your member guide that just came for this year. It states the following on page 14:
d) Club World to FIRST Upgrade. Tickets can only be booked and ticketed by calling your Merrill Travel Advisor at ...... Offer is availble for travel originating from any of British Airways U.S. gateways offering FIRST service to London. Offer requires a seven-day advance purchase with a minimum Saturday night stay. ........ etc...... but look they did not update the "DATE" it says for bookings prior to December 31, 2006 and travel completed by December 31, 2007. I wonder if they realize they mailed out the same booklet as last year again this year? I wonder if they will send us a new one soon? Any bets?
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Home now, looking at Merrill Lynch Beyond Rewards 2007 Program Guide, and page 14 discusses Relais & Chateax. Page 15 describes the Annual Airport Lounge Access, Companion Ticket on British Airways, and (Delta) International Business-Class Companion Ticket.
The Terms and Conditions are printed beginning on page 42. I assume, but have not verified, they are the same as online. In any event it does not mention the BA Club to First upgrade.
Apparently we are not looking at the same booklet?
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I am looking at the booklet that says Merrill+ Program Guide on front and on the back at the bottom it has the following numbers:
790-198
INS-03-06-0526
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I am looking at a 9" x 9" glossy catalog. It sounds as if you are looking at a 7" x 3.5" brochure?
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Yes it is the small brochure, I will call and tell them to send me the new one. What is the number on the back, So I can make sure they send me the right one? Is the name the same?
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I do not have a newer Program Guide phamplet, only the aforementioned Merrill Lynch Beyond Rewards 2007 Program Guide which includes terms and conditions.
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This site is for Centurion. I am aware that Merrill+ and Centurion both use Circles as a concierge service. However, this does not mean that Merrill+ card members get the same level of service as Centurion card members. That is why I would like to know what results Merrill+ card members have received from the concierge.
Does anyone have any first hand experience to share?
They havent blown me away. I used them for a few dinner reservations. That have little more pull than calling yourself. They got me into Joes the other day in Vegas. We called and they offered 10PM only. Through Merrill it became 9PM. You dont know if somebody cancelled etc so I dont see huge value in it.
Rob
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I've found the concierge service to be incompetent at best... definitely don't trust them for anything important; it'll likely be a frustrating waste of time.
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As expected Merrill+ has sent an Amendment to Your Credit Card Agreement stipulating a 2% Foreign Transaction Fee effective May 1, 2007. The timing is good because we can use it during the March - April BA promotion, but then I am not sure I see a place for this product in our spending because 2% is the same fee as American Express.
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They havent blown me away. I used them for a few dinner reservations. That have little more pull than calling yourself. They got me into Joes the other day in Vegas. We called and they offered 10PM only. Through Merrill it became 9PM. You dont know if somebody cancelled etc so I dont see huge value in it.
Rob
I used them for a reservation last week to get into a restaurant. They made the reservation but could not get the time that I wanted. The table was excellent. However, I am not sure that Circles had anything to do with it.
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I've found the concierge service to be incompetent at best... definitely don't trust them for anything important; it'll likely be a frustrating waste of time.
What level are you? They use different concierges for base members, +2 and +3..
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What was I paying before this increase if I used the M+?
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What level are you? They use different concierges for base members, +2 and +3..
Each time that I have talked to the Merrill+ concierge I have been told that the service is the same across levels. The only difference that I am aware of is that at Merrill+3 you get a named representative, i.e. your call will go to the same person.
What specific differences are you aware of regarding the service levels between +1, +2 and +3?