Amazing Deal! US Merrill Lynch Card, $1000 Sign-Up Bonus
Merrill Lynch, Bank of America’s wealth management division, is currently offering their fee-free Visa Signature with a 50,000 sign-up bonus after spending $3000 in three months [this is not a referral link]. This is the first time I’ve heard of this credit card being publicly accessible. Their points system is redeemable on any flight, at the rate of 25,000 points for $500. Strangely, the redemption must be on a round-trip flight departing from the United States (boo!). Further, you can only redeem your points at the above rate if your operating carrier is American, Delta, United, or British Airways; any other airline requires a 30,000 point redemption for the same value. Finally, if you spend $50,000 in a year, you’ll receive a $200 travel credit or a Delta Skyclub membership (I think you can guess which has more value).
Now, there are a couple oddities to this application. First, while it’s based on the regular Bank of America application system, they ask whether you want to release your investment information with Merrill Lynch to Bank of America. You can decline. Further, they ask how much money you have invested with Merrill Lynch. Fortunately, the first band of $0-19,000 is rather large. I’ve spoken to one person who was approved with absolutely no Merrill Lynch or Bank of America relationship. Finally, unfortunately for us non-US citizens, the application directly asks whether or not you’re a US citizen, and if not, you can’t apply online.
You can read more about the card benefits on their advertising packet. I’d hazard to say that it’s the best no-fee annual card out there, with a tremendous! HUGE! AWESOME! (sound like someone…? 😛 ) sign-up bonus. I don’t know if this link was intended to be released, so if you’re interested, I’d hurry about submitting your application.
How is this better than the Fidelity Visa outside the sign up bonus and spending $50k?
It’s not better, but a $1000 sign-up bonus is nice!
Bit confused, if I live in Canada will they check my Canadian Credit of US credit?
You need a US TIN (SSN or ITIN) to get this card. They will not pull Canadian credit bureaus.
“the application directly asks whether or not you’re a US citizen, and if not, you can’t apply online.”
so how do we apply?
What Credit Bureau do they pull?
Depends on region, but I believe it’s usually Experian.
What happens if I purchase a ticket for $1200 ? Do apply 25,000 points once it shows up in the website and pay the remaining $700 by the statement due date? Can I use both 25,000 points (separate transactions) in the same statement period?
i aminterested in getting the credit card that gives you $500.00 if you spend $3000.00 in 3 mos.