Question
http:////askmerrill.ml.com/pp3/cd_landing.asp
Wow, The credit card with no sign up bonus points has a 15,000 point bonus.
The only requirement is concurent opening of an exellent rate C.D. is required.-- With Merrill Lynch, not BofA/MBNA/FIA
( oh and you have to also spend twenty fivebucks within three months of recieving.)
The Intrest rates are exceptionally attractive.
For those who can meet the depost requirement of $25,000 , a really good deal.
I think these rate are close to best non jumbo intrest rate available on 3 & 6 month CD's.
This is an FDIC-Insured bank deposit.
No brokerage account is required.
C.D is with With Merrill Lynch, not BofA/MBNA/FIA.
And Merrill Lynch is not creditor on the Merrill Plus acct.
That's BofA.
Answer
The link contains too many slashes, should be...
http://askmerrill.ml.com/pp3/cd_landing.asp
Answer
It's mandatory to open a Merill Lynch FULL SERVICE, retail brokerage account that is free of fees FOR THE FIRST YEAR ONLY!!!
That's fees!
commissions and asset management fees are paid from day one.
Intresting how a Federal savings bank that is FDIC insured can require a brokerage account and a defacto 'custodian' for a time deposit!
the fine print:
.......
posit (CDs) are sold by Merrill Lynch, Pierce, Fenner & Smith Incorporated (“MLPFS”) and held in brokerage accounts at MLPFS, in which standard account fees may apply. CDs are issued by Merrill Lynch Bank USA or Merrill Lynch Bank & Trust Co., FSB. Balances on deposit at each bank, including CDs and any amounts swept automatically from an MLPFS account are FDIC-insured up to a maximum of $100,000 in accordance with FDIC rules. ..........
Answer
The points are offered by Merrill Lynch, not by the banks that issued the CDs. Merrill Lynch sells CDs issued by dozens of banks, just as they sell bonds etc. The fact that in this instance those banks are owned by Merrill is not relevant.
In any event there appears to be no obligation to use the account, except as a mechanism to hold the CDs which will mature during the free period.
Answer
Already have a merrill plus card:(
http:////askmerrill.ml.com/pp3/cd_landing.asp
Wow, The credit card with no sign up bonus points has a 15,000 point bonus.
The only requirement is concurent opening of an exellent rate C.D. is required.-- With Merrill Lynch, not BofA/MBNA/FIA
( oh and you have to also spend twenty fivebucks within three months of recieving.)
The Intrest rates are exceptionally attractive.
For those who can meet the depost requirement of $25,000 , a really good deal.
I think these rate are close to best non jumbo intrest rate available on 3 & 6 month CD's.
This is an FDIC-Insured bank deposit.
No brokerage account is required.
C.D is with With Merrill Lynch, not BofA/MBNA/FIA.
And Merrill Lynch is not creditor on the Merrill Plus acct.
That's BofA.
Answer
This offer is not open to existing M+ cardholders. I am slightly offended by this. (I could use a quick defenestration fix. Currently on the 9th floor. Maybe a lamp would do.) I know that ML is trying to get new business. However, it would be nice to see companies continue to earn more of your business once you make a decision to be their customer. (Why would I open a CD with ML when I can get the same thing elsewhere?) Merrill was my first investment services provider via a poorly chosen SEP (by my employer). They charged me a ridiculous amount on transaction and maintenance fees when I was just getting started investing. Shame on them! They would have to do something special to get my investment business again. (They still owe me from before!!!)
Citi rewarded me from day one and continues to do so. They offer unique services and incentives to increase my business with them. Fidelity provides me with extremely low fees and excellent service. I will keep my cash with the 2 companies that have shown respect for my business with them.