Bank of America

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).