An Obscure Credit Card From A Familiar Bank – Worth $500 – $1,000
Category : Uncategorized
A few weeks ago Doctor of Credit posted about a increased offering from Merill Lynch. As many of you will know, Bank of America and Merill Lynch merged in 2009 during the Recession.
To miles and points enthusiasts, Bank of America is best known for their Alaska Airlines credit cards.
Merill Lynch cards, however, have been pretty obscure. Until now.
The Credit Card Offer – Link
- Annual fee $89, but waived the first year.
- Spend $3,000 in three months and earn 50,000
- 1X points on all purchases
- Spend $50,000 or more during the year and recieve
- $200 travel credit that can be used towards airline incidentals
- Or Complimentary Delta Sky Club lounge membership
What are the points worth?
This is where it gets interesting.
- For gift cards, points are worth 1 cent
- Cash back or statement credit, points are worth 1 cent
- Flight bookings of $500 (exactly) are equal to 2 cents per point on British Airways, American Airlines, United, and Delta
- All other flights with other airlines are 1.67 cents to the dollar for $500 flights (30,000 points required)
- Minimum redemption is 25,000 points
If you purchase a ticket for $500, on one of the above airlines, you’ll be required to spend 25,000 points. This essentially gives you $1,000 in value when using on flights.
My Experience Getting Approved
Bank of America (and Merill Lynch) merge credit pulls. My wife recently applied for this new Merill Lynch card and a Bank of America Alaska Airlines credit card and she only had one pull.
Proof is in the pudding.
Just note that if you apply for the Merill Lynch card and the Bank of America Alaska Business product (or any Bank of America Business product), it will most likely be a second pull with Experian or an alternative bureau.
These Merill Lynch points are potentially very lucrative and seem to be easy to earn. Sometimes award space isn’t always available (particularly during peak travel times) and you don’t want to pay cash. Finally, these redemptions will earn elite qualifying miles and points.