Review: Merrill Lynch Credit Cards

merrill-lynch-credit-cardMerrill Lynch, in partnership with its parent company Bank of America’s FIA Card Services, offers one personal and one business credit card that may appeal to Merrill customers. Our overview / review of each card is below:

  • The Merrill+ Visa Signature Card offers a standard points program — you earn 1 point per dollar and can use points toward travel, gift cards, cash, etc. In general, this card doesn’t stack up particularly well with other rewards or cash back credit cards. However, the Merrill web site does say that flights of up to $500 in value can be had for as little as 25,000 points, which means you could be redeeming your points at a value of 2 cents each, double what most reward points are worth. (Normally you would expect 25,000 points to be worth $250, so getting a $500 flight for 25,000 points is a good deal.) It is difficult to tell, though, whether your points have any greater value on other types of rewards. Overall this card seems fine but not necessarily a top choice.

  • The Merrill Rewards For Business Visa Signature Card is geared toward small business owners. It offers the same reward program as the Merrill+ card described above, except it also gives you the option to redeem your points at a value equal to 1.5% cash back, provided this points are redeemed into a Merrill account. (The 1.5% rebate is generous in comparison to most business credit cards, so the question is whether or not you want your rebate to go straight into a Merrill account.) Otherwise this a fairly standard business credit card, offering you the ability to give cards to employees as well as yourself.

You can not apply for any of the Merrill Lynch credit cards online. You can get an application through your Merrill financial advisor or call 1-877-465-2733.