Question
Anyone that has a Merrill Lynch credit card, what do you feel about the card and the benifits. Thanks
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I just received the card last week. So far no problems. I called and asked about a credit increase and they promptly processed one from $15K to $25K without issue. All I had to do was ask. Customer service was great to deal with.
Additionally, I was told there are 2 versions of the card. One version has a fixed APR of 5.9%, and the other is 7.4% but you get offers for lower rates (currently offering 2.9% for 12 billing cycles). You can pick between the two. I pay my balance off each month so neither appealed, but you can't beat 2.9% for 12 months.
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[QUOTE=JAGMAP]I just received the card last week.
How long did it take for you to receive your card? I just applied online on Monday and am wondering when I should get the card. Interestingly, the ML application did not have a place for my e-mail address, unlike other MBNA applications. I hoping for a quick response so I can replace my stripped-down Smith Barney Platinum Visa. Thanks.
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The Merrill "Lynched" card with the outline of the bull standing while producing black manure, which incidentally is the color of the card, must have been designed by the art department at a Crawford, Texas ranch. Any bum can get a dopey Mastercard by opening a checking account with a $20 deposit while requesting a Mastercard debit card. The card has zero aesthete and zero cachet, and it is unrecognizable outside of cattle auction, social circles and animal husbandry seminars. I'll stick with my Amex Platinum card which has considerable cachet and instant recognition around the world.
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The Merrill "Lynched" card with the outline of the bull standing while producing black manure, which incidentally is the color of the card, must have been designed by the art department at a Crawford, Texas ranch. Any bum can get a dopey Mastercard by opening a checking account with a $20 deposit while requesting a Mastercard debit card. The card has zero aesthete and zero cachet, and it is unrecognizable outside of cattle auction, social circles and animal husbandry seminars. I'll stick with my Amex Platinum card which has considerable cachet and instant recognition around the world.
You are repeating yourself. In any case, credit cards are all about the benefits you receive. Merrill gives you four free Ritz Carlton nights after spending only $50K. This is in addition to the points/miles you accumulate in their program. This is not bad for no annual fee.
I would; however, disagree with your description of the AmEx Platinum card. It no longer impressess too many people since MC/VI/DC have been issuing their own Platinum cards for years. I dumped my AmEx platinum card years ago when AmEx started issuing the Starwood Card. I'm not going to impress too many people with the ugly Starwood card, but then again I'm not out to impress people I don't know. The Centurion Card is a different story becuase it is not available to just anyone. Of course, if you don't use the benefits, you are then only paying for a colored piece of plastic.
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I agree with you that the Amex "Wood" card is the optimal rewards card but as you imply it does not have the cachet of the Amex Platinum which in turn does not have the cachet of the Centurion; however, unless one is an invited celebrity or national dignitary, one will never get a Centurion offer unless one holds an Amex Platinum.
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[QUOTE=JAGMAP]I just received the card last week.
How long did it take for you to receive your card?
From the day I applied online to the day I got it was about 1 week. When the card first came out a year or so ago, I was not approved and it took around 30 days to get a rejection letter :-( I think you can call and find out your status. This time I pulled my credit history a couple days after I applied and found that MBNA had opened a new credit line with me so it was just a matter of days before I got the card. I'm 22 (4 years of credit history), so it must not be too difficult to get - I wouldn't worry.
dbayeddy2: Why such animosity towards this card? I too have an American Express Platinum Card (as well as a Starwood), and find that all 3 have unique benefits. I find the reward benefits (MR) with the Platinum Card to be awful with only a 1% redemption rate. The only time it's worth it is when they have transfer bonuses to DL or CO, and even then, it's not too useful (I live in Dallas, where neither DL nor CO or any other MR-partners have much of a presence, except SW). With Starwood it's at least 1.25%, and with Merrill Lynch it can be as high as 2% (25,000 +Points = $500 Air Voucher), but it's mainly good for the RC certificates & there's no ($395) annual fee. If I didn't have such a high limit (lots of reimbursed business expenses) on my Platinum Card (and the 60-day float to pay), I'd probably drop it. Customer service with American Express has always exceeded my expectations too. I'm interested though - why do you have high regards for the Platinum Card? I may just be missing something - Thanks.
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The Merrill "Lynched" card with the outline of the bull standing while producing black manure, which incidentally is the color of the card, must have been designed by the art department at a Crawford, Texas ranch. Any bum can get a dopey Mastercard by opening a checking account with a $20 deposit while requesting a Mastercard debit card. The card has zero aesthete and zero cachet, and it is unrecognizable outside of cattle auction, social circles and animal husbandry seminars. I'll stick with my Amex Platinum card which has considerable cachet and instant recognition around the world.
You sound like an ex-Merrill broker or someone who got worked over by a Merrill Rep? Which one is it ?
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I just received the card last week. So far no problems. I called and asked about a credit increase and they promptly processed one from $15K to $25K without issue. All I had to do was ask. Customer service was great to deal with.
Additionally, I was told there are 2 versions of the card. One version has a fixed APR of 5.9%, and the other is 7.4% but you get offers for lower rates (currently offering 2.9% for 12 billing cycles). You can pick between the two. I pay my balance off each month so neither appealed, but you can't beat 2.9% for 12 months.
Thanks for the info.
Interestingly, my card arrived today in the mail -- just under one week from the date I submitted my application.
My experience was slightly different than yours. I, too, received a credit line of $15k, and I inquired about getting my limit raised. I was placed on hold for a considerable period of time, and then I was transferred to a credit analyst. He verified some info. on my application, asked if I was going to do a balance transfer (I'm not), and then declined my request. I was actually O.K. with that -- $15K is enough for me. Yet, when I accessed my account online, the credit limit had been raised to $20K. Did he have second thoughts??
I asked them about foreign-currency transaction fees. The representative stated that MBNA had no plans to add a fee. I hope that's the case, as I'm ditching my Smith Barney (Citibank) Plantinum Visa for this reason.
The absence of annual fee, low interest rate (although I always pay in full), and free point program makes this card a good replacement for other accounts that offer less and charge more.
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If you guys who are about to get "lynched" by Merrill's bull card want an MBNA credt card with some class, consider applying for the MBNA Rewards Platinum American Express card -- don't leave the ranch without it.
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I've seen some trash the Centurion card while others envy it. I think we all need to realize that it is simply a tool. To hold a a certain colored card becuase one lacks self concept, is rather foolish. Only if the benefits of the card can be utilized, should one obtain a particular card. Keep in mind that it would be rather simple to obtain a Centurion card simply by charging your business expenses to a no fee Hilton card, for example. Given that your employer reimburses you for your expenses, how impressive is it to then pay $2,500 for a Centurion.
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Merrill seems like a great primary card but not the best for someone spending under $10k. Plus there doesn't appear to be any sort of sign-up bonus.
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Additionally, I was told there are 2 versions of the card. One version has a fixed APR of 5.9%, and the other is 7.4% but you get offers for lower rates (currently offering 2.9% for 12 billing cycles). You can pick between the two. I pay my balance off each month so neither appealed, but you can't beat 2.9% for 12 months.
That is very interesting. According to the website (http://card.ml.com/), the only deal mentioned is a 7.4% variable rate, with the 2.9% for the first 12 months. Did you call up to apply for the card when they mentioned the 5.9% rate? It would be great if that option were still available.
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Here's my story.... I am only 3,000 pts (1pt = $1 spent on the card) away from becoming ML Visa +2 benefits level.
I am trying to obtain +2 benefits level so I can get comped the AAdvantage Status Match for the end of this month, because I am flying to Maui in late May on AA. And would like the Gold Status so I can pick a better seat for my 13 hour flight from NYC.
I have spent around $17,000 from 1/1 - 5/1/05 and on 12/1/04 I spent $12,000. They refuse to bump me up to +2 benefits level base on "good faith". they said the points are accumulated on an annual basis so the $12,000 I spend last December doesn't count.
Personally I think that's poor service on their part since I am on my way to spend about $100,000 annually with this card. I am deciding to cancel soon.
Anyone have luck accelarating their ML Visa + into +2??