American Express Membership Rewards - Lookout Amex your Platinum/Centurion cardholders will switch to Merrill Lynch Visa

Amex your being attacked...What are you going to do? I think Merril Lynch has a little more clout than Stratus Rewards...Free Ritz hotel stays without using points
Cruise upgrades,Air travel using points...This sounds like a neat product and I am thinking of switching to this product.

A New Contender for Your Wallet

Merrill Jumps Into Card War
With No-Fee Rewards Offer,
But Does It Beat Platinum?
By RON LIEBER
Staff Reporter of THE WALL STREET JOURNAL
April 20, 2004; Page D1

Last year, Merrill Lynch clients withdrew $3 billion from their accounts to pay off credit-card bills. Now the company wants a piece of that action.

Merrill Lynch & Co. today is introducing its own new credit card, the Merrill+ Visa, which it's launching with card giant MBNA Corp. The card's major selling points: generous benefits with an ultra-low interest rate and no annual fee.

The company is joining a growing number of brokerage firms that are offering their clients plastic, part of the industry's push to capture as many of their customers' financial transactions as possible. Last month, the Smith Barney unit of Citigroup Inc. launched a new MasterCard that offers cash refunds and American Airlines miles. UBS AG, Charles Schwab Corp. and Morgan Stanley offer debit cards with their accounts but no credit cards.

Merrill, which has offered a debit card with rewards for several years, faces stiff competition in the credit-card arena. Banks have been bombarding their affluent clients with offers for a long time now. Most of them already have a card at the top of their wallet that earns them hundreds of dollars of cash rebates or tens of thousands of frequent-flier miles per year.

In an attempt to dislodge those cards, Merrill is offering its card with no annual fee, unlike most similar cards, plus an interest rate of 5.9%. (While interest rates are rarely fixed permanently, Merrill doesn't anticipate having to raise its own for at least 12 months.) Cardholders will earn one point per dollar charged and can then trade those points for free airplane flights.


The new Merrill+ Visa credit card.


The big spenders among them will also get cruise upgrades, massages and free nights at Ritz-Carlton hotels. These cardholders don't have to redeem any points for the rooms; they just have to spend a certain amount of money annually to get them. While Merrill is aiming its pitch primarily at current customers, others will be able to apply for the card as well.

The big brokerage firms' push into plastic comes at a time when every card company is marketing multiple rewards cards. For the three months ended Feb. 29, 53% of all direct-mail pitches were for cards that earn cash refunds, travel, or other rewards. That's up from 30% in the same period two years ago, according to Mintel's Comparemedia, a tracker of such offers.

During the past year, Bank One Corp. alone has launched at least half a dozen new rewards cards aimed at the same upper-income consumers that the brokerage firms are chasing. One offers up free Starbucks coffee, another grants discounts on Audis, and a third sends donations to a breast-cancer organization.

Merrill's program allows cardholders to trade the points they earn for plane tickets on four major airlines, which will be announced in coming weeks. For 25,000 points (30,000 for non-partner airlines), they can book trips of up to $500 and go anywhere in or out of the USA, as long as they book at least 21 days in advance and stay over a Saturday night.

This compares favorably with other rewards schemes that offer similar point ratios for domestic travel, though competing cards often offer no international option at that point level. There is no cap on the number of points cardholders can earn each year.

The new Merrill card also borrows the airlines' idea of assigning elite status. Users who spend at least $20,000 in a calendar year graduate to the first level, and those who cross the $50,000 threshold land in the top rank. Merrill's elite cardholders are eligible for better cabins on Princess and Cunard cruise ships, upgrades on certain British Airways flights, and massages at Canyon Ranch and other fancy spas.

But the perk that's likely to resonate the most is the free nights at Ritz hotels. The $20,000 spenders get one per year, while the $50,000 chargers get a total of four. Without the card, four nights at the Ritz could easily run more than $1,000. The card also offers medical-evacuation insurance for people who hurt themselves in faraway places.

While no one, of course, chooses a brokerage firm on the basis of the credit card it offers, the absence of a credit card is a clear gap in the product line of any financial-services firm with ambitions to be a one-stop shop. Brokerage firms also see credit cards as a way to make their revenues more predictable.

In terms of rewards, Merrill's offering is one of the more generous cards in recent years. So consumers have every reason to wonder whether Merrill plans to slash away at the goodies or spring an annual fee on them after a year or two. In fact, Merrill's record isn't good in this regard. A few years ago, it raised certain reward-redemption rates for debit-card holders by 50%, infuriating many customers. Eileen Serra, Merrill's head of consumer banking, says of the new card, "We've been very cognizant when designing awards of making sure we could afford them."

Big spenders who like fancy hotels and free domestic-coach travel may want to switch to the Merrill card, which offers lower fees and more benefits than Smith Barney's new card. (If you don't have a Merrill broker who can sign you up, you can apply at www.card.ml.com.) But people who value frequent-flier miles for their first-class upgrades and international travel opportunities may want to stick with an airline card. Or they could use American Express Co.'s Green, Gold or Platinum cards, which offer points that customers can trade for merchandise or frequent-flier miles. Because premium seats can cost thousands of dollars, it makes it hard to purchase them with Merrill points. People with lots of miles will usually get more value out of their rewards for this type of flight.

Bring it on - let's see what they offer.

AMEX PLAT has been going downhill since 1998, and is accelerating rapidly.

4 free Ritz nights for spending 50000$ is a nice perk, however European Amex Centurion cards offer one free night at each MO hotel in conjuction with a paid night, which is a benefit regardless of spending and exceeds the 1000Eur annual fee in value IMO. You can have up to 19 free nights this way!!!

Amex your being attacked...What are you going to do? I think Merril Lynch has a little more clout than Stratus Rewards...Free Ritz hotel stays without using points
Cruise upgrades,Air travel using points...This sounds like a neat product and I am thinking of switching to this product.

Wall Street Journal said:


In an attempt to dislodge those cards, Merrill is offering its card with no annual fee, unlike most similar cards, plus an interest rate of 5.9%. (While interest rates are rarely fixed permanently, Merrill doesn't anticipate having to raise its own for at least 12 months.) Cardholders will earn one point per dollar charged and can then trade those points for free airplane flights.

Nice BUT...


Merrill's program allows cardholders to trade the points they earn for plane tickets on four major airlines, which will be announced in coming weeks. For 25,000 points (30,000 for non-partner airlines), they can book trips of up to $500 and go anywhere in or out of the USA, as long as they book at least 21 days in advance and stay over a Saturday night.

OOPS. 21 days in advance and a $500 limit. I never pay more than $250 to $300 that far in advance. In fact, I rarely use 25,000 points on other than an expensive last minute ticket or an overseas ticket.

These points cannot buy domestic upgrades or international flights. Do not know who the partners are yet so $500 in value could cost 30,000 points.

Doesn't seem a threat to AMEX yet. With Starwood card I can turn 20,000 points into 25,000 airmiles and a free ticket. Nice.

Let's see what else is offered.


The new Merrill card also borrows the airlines' idea of assigning elite status. Users who spend at least $20,000 in a calendar year graduate to the first level, and those who cross the $50,000 threshold land in the top rank. Merrill's elite cardholders are eligible for better cabins on Princess and Cunard cruise ships, upgrades on certain British Airways flights, and massages at Canyon Ranch and other fancy spas.

But the perk that's likely to resonate the most is the free nights at Ritz hotels. The $20,000 spenders get one per year, while the $50,000 chargers get a total of four. Without the card, four nights at the Ritz could easily run more than $1,000. The card also offers medical-evacuation insurance for people who hurt themselves in faraway places.

Nice. If you will use it. While I consider the point value suspect, these are real for users. Still I want my points where I can eventually get real air miles and AMEX Platinum offers that. I like access to DL, NW and CO clubs free when traveling on their flights. I like the upgrades I get with selected hotels. AMEX Platinum offers the medical-evacuation benefit BTW.

Bottom line from the Wall Street Journal is.

Big spenders who like fancy hotels and free domestic-coach travel may want to switch to the Merrill card, which offers lower fees and more benefits than Smith Barney's new card. (If you don't have a Merrill broker who can sign you up, you can apply at www.card.ml.com.) But people who value frequent-flier miles for their first-class upgrades and international travel opportunities may want to stick with an airline card. Or they could use American Express Co.'s Green, Gold or Platinum cards, which offer points that customers can trade for merchandise or frequent-flier miles. Because premium seats can cost thousands of dollars, it makes it hard to purchase them with Merrill points. People with lots of miles will usually get more value out of their rewards for this type of flight.

I agree. I'm staying put.

Big spenders who like fancy hotels and free domestic-coach travel may want to switch to the Merrill card, which offers lower fees and more benefits than Smith Barney's new card.
Who are these people who like fancy hotels and domestic coach travel? :p

I looked at this service also, but as a current AMEX/CENT cardholder (grandfatherered at the $1000 annual fee as well), I do not see Merrill Lynch's program as competitive. As much as I loathe having to deal with AMEX CSR and AMEX in general, and would *l o v e* to be using a Visa or M/C product with the AMEX/CENT feature-set (where, oh where, is Citibank with a high-end, perk-loaded affinity card program ??????), AMEX's CENTURION card still offers one perk I can't replicate and need - the Starwood SPG PLATINUM elite perk. This justifies the CENT and its ridiculous annual fee for me. Hyatt Diamond would be nice if I ever used Hyatt, and it has some potential value to me as a backup to the starwood perk, but the starwood perk is what keeps me paying the $1000/yr.

ML could give their program a MAJOR [tangible and desireable] upside by getting Hilton or Marriott to bestow their highest-level affinity to anyone holding ML's card. You heard it first from me.

The Ritz Carlton nights are the only real unique value in the Merrill card. It's not quite enough to get me to put $50k of spend on the card, but my ears perked up a little. I don't want Merrill's useless points.

Wow another blow and this time from dinners club!

http://www.flyertalk.com/forum/showthread.php?t=316556&referrerid=12193

I looked at this service also, but as a current AMEX/CENT cardholder (grandfatherered at the $1000 annual fee as well), I do not see Merrill Lynch's program as competitive. As much as I loathe having to deal with AMEX CSR and AMEX in general, and would *l o v e* to be using a Visa or M/C product with the AMEX/CENT feature-set (where, oh where, is Citibank with a high-end, perk-loaded affinity card program ??????), AMEX's CENTURION card still offers one perk I can't replicate and need - the Starwood SPG PLATINUM elite perk. This justifies the CENT and its ridiculous annual fee for me. Hyatt Diamond would be nice if I ever used Hyatt, and it has some potential value to me as a backup to the starwood perk, but the starwood perk is what keeps me paying the $1000/yr.

ML could give their program a MAJOR [tangible and desireable] upside by getting Hilton or Marriott to bestow their highest-level affinity to anyone holding ML's card. You heard it first from me.

Not competitive? For a mere 50K in charges you get 3 FREE Ritz nights plus the other benefits on the merrill site. Also you can get the three free nights each year. Plus the FREE Ritz upgraes on a card that charges no annual fee and has a decent interest rate? I think this is the best card to come along in a while. I could never justify the centurion card unless I got double points with them for all my charges. AMEX now charges taxes for miles transferred to the airline programs. TO me that stinks. On AMEX starwood you at least get 25% bonus with no tax charges to transfer 20K miles into every single major airline including AA which is not a MR partner...>Rob

The Ritz Carlton nights are the only real unique value in the Merrill card. It's not quite enough to get me to put $50k of spend on the card, but my ears perked up a little. I don't want Merrill's useless points.

Did you look at the Merrill merchandise partners. They are not bad at all. Considering they charge no points for the (3) free nights I see no other such perks from any of the award/point cards I currently own. Merrills useless points are no more useless than MR points. Merrill has some excellent partners.

Rob

With no airline elite programs, it just wouldnt work for me.

As a person who ends up spending 10-20 nights at Four Seasons and Ritz Csrlton per year, I'd love that benefit in Amex.'s Cent program.

Centurion gives you upgrades on most domestic airlines and hotels. I don't see this card as competing with that.

QL

robertw477,
the ritz is so far out of my typical spending patterns and consumer preferences, that their affiliation with this chain is actually a disincentive. ditto for the hour sessions with a jet.

An hour in a jet gets me no where that I need to go and can't get there with a 25K award at a decent airline or a $250 priceline tix.

Both are ultra-high end perks that do not appeal to me, no matter the ratios of dollars to points.

IMO, Merrill has created a dud just like diners club did with their high-end product whose name escapes me because it was designed so poorly. I trashed the invitation I got the day it arrived from diners club, and waited until, true to my guesstimates, citibank mercifully pulled the plug.

This one seems to be targeting "old wealth" and I am not sure those guys will respond.

AMEX's Centurion card, IMO, appeals more to "new wealth", ie the group about whom the book "The Millionaire Next Door" was written, and with AMEX's shotgun approach in selecting affinity partners and elite perks for their Centurion card...managed to catch me with one single perk...but it was enough. It is telling that AMEX has tied up Hyatt (DIAMOND), Starwood (PLAT), and Hilton (GOLD) with one single credit card product...I'm betting exclusives at that. Merrill is shut out of the three major hotel chains it appears.

Bring it on - let's see what they offer.

AMEX PLAT has been going downhill since 1998, and is accelerating rapidly.

Another Platinum member here that is looking for options...

robertw477,
the ritz is so far out of my typical spending patterns and consumer preferences, that their affiliation with this chain is actually a disincentive. ditto for the hour sessions with a jet.

An hour in a jet gets me no where that I need to go and can't get there with a 25K award at a decent airline or a $250 priceline tix.

Both are ultra-high end perks that do not appeal to me, no matter the ratios of dollars to points.

IMO, Merrill has created a dud just like diners club did with their high-end product whose name escapes me because it was designed so poorly. I trashed the invitation I got the day it arrived from diners club, and waited until, true to my guesstimates, citibank mercifully pulled the plug.

This one seems to be targeting "old wealth" and I am not sure those guys will respond.

AMEX's Centurion card, IMO, appeals more to "new wealth", ie the group about whom the book "The Millionaire Next Door" was written, and with AMEX's shotgun approach in selecting affinity partners and elite perks for their Centurion card...managed to catch me with one single perk...but it was enough. It is telling that AMEX has tied up Hyatt (DIAMOND), Starwood (PLAT), and Hilton (GOLD) with one single credit card product...I'm betting exclusives at that. Merrill is shut out of the three major hotel chains it appears.

I dont understand this stuff. On the surface if you look at all of the point cards-membership rewards, citi aa, etc. They offer no perk like the merrill extras (3 free nights etc) There is no disputing this. I have a large number of the point cards. I dont get one single thing from any of them without spending points. Those Ritz nights are a tremendous perk on a card that charges no annual fee. The heck with Amex. I do several million in charges on the amex cards I have and I see no such extras. They charge me annual fees on all the cards I hold. Considering the huge profits they make from me you would think at the least there would be a way to use points to pay the annual fees. They offer no such thing...In some of my dealings with amex I have not always been so impressed with their service or their reps.

I like when AMEX reps tell me that they offer the same great level of service to the guy that charges 50 bucks a month to me somebody who is an AMEX merchant, and also spends from 1.2-2 million in charges per year. Amex has no real appreciation for their members.

Now the comments about centurion getting you domestic upgrades to first, I heave not heard anything about that. Are you guys saying I can book all my aa tickets in coach and get unlimited domestic upgrades? The airline club thinghas limited appeal for me. You need to be flying the airline that is offered, and only a few airlines qualify. AMEX platnium offers the same perk.

Starwood platnium status is not worth a cost of 2500 a year either..You definitely can trade the ritz certs or give them as a great gift to somebody. AMEX even charges the fees for the Membership reward program on many of their cards. They just pile on the fees.

Rob

U.S. Centurion gets you the following with airlines:

Delta Gold Medallion
US Airways Gold Preferred
Continental Gold Elite
Northwest Gold (by association with CAL)
Star Alliance Gold (by association with US Airways)
Extra benes at United (by association with US Airways)

Delta Crown Room Clubs (also a Plat bene)
Continental President Club (also a Plat bene)
Northwest World Club (also a Plat bene)

...I think that's it...

-DR

I wouldn't touch this card with a ten foot pole if its backed by MBNA. In my experience MBNA will nickle and dime you to death and their customer service can't touch AMEX (so if you think AMEX is bad, you've got a whole new level of pain coming with MBNA).

Now the comments about centurion getting you domestic upgrades to first, I heave not heard anything about that. Are you guys saying I can book all my aa tickets in coach and get unlimited domestic upgrades? The airline club thinghas limited appeal for me. You need to be flying the airline that is offered, and only a few airlines qualify. AMEX platnium offers the same perk.
Rob

Check the info all over this board. Centurion provides gold on Delta, Continental (free domestic upgrades) and US Airways (again, free domestic upgrades.) Not guaranteed, but the chance is there.

Not to mention the room upgrades from Starwood, Hilton, Hyatt....

Check the info all over this board. Centurion provides gold on Delta, Continental (free domestic upgrades) and US Airways (again, free domestic upgrades.) Not guaranteed, but the chance is there.

Not to mention the room upgrades from Starwood, Hilton, Hyatt....

Continental is one of the tightest airlines out there for upgrades and using miles. I would like to see how many of these first class upgrades you could get a year with them. The platium cardcovers the club room benefits which are limited in value. You can get plenty of club passes in trade on flyertalk board (coupon connection) If you fly CO or Delta alot you might already have gold status with them anyway.

I got Starwood gold as a free perk from aa this year. If you travel alot using Starwood you can easlity reach Gold status and possibly platnium status anyway. I dont think there will be many us airways benefits as they have a 50/50 chance surviving liquidation.

Rob

I wouldn't touch this card with a ten foot pole if its backed by MBNA. In my experience MBNA will nickle and dime you to death and their customer service can't touch AMEX (so if you think AMEX is bad, you've got a whole new level of pain coming with MBNA).

I have only starting using mbna cards a few months ago. I find them to be very generous with their credit lines. I tend to think that they cater to alot of higher end cardholders. I know they deal many affinity type cards, but I think they also have a good customer base of big chargers.

Rob

Just to respond to any earlier post about continental upgrades, as a gold ( a centurion benefit) I am 100% this year approx. 14 for 14 including "tough" flights such as las-ewr on a sunday night.

Continental is one of the tightest airlines out there for upgrades and using miles. I would like to see how many of these first class upgrades you could get a year with them. The platium cardcovers the club room benefits which are limited in value. You can get plenty of club passes in trade on flyertalk board (coupon connection) If you fly CO or Delta alot you might already have gold status with them anyway.

I got Starwood gold as a free perk from aa this year. If you travel alot using Starwood you can easlity reach Gold status and possibly platnium status anyway. I dont think there will be many us airways benefits as they have a 50/50 chance surviving liquidation.

Rob

I disagree with this analysis. Gold status is not easy to reach at any airline. The beauty of Centurion is that you get Gold on 4 airlines (CO, NW via cal, US, DL), Star Gold, + UAL extras. So I can choose any of these airlines on price alone, have absolutely no worries about EQM crap and still get upgraded at very high %. The annual fee pays for itself in the fare savings alone...let alone the upgrades.

As a former Starwood Gold and now Plat, the difference for me has been night and day. Immediate recognition at every property for Plats. As a Gold I was barely noticed.

And, oh yeah...Hyatt Diamond, Mandarin 1 free night on 2 night stay at reasonable rates, Ritz Carlton extra benes that are usually worth $150 over platinum, etc., etc.

But they key is the airline programs. Without them I would be out of Centurion and back to Plat quickly.

I disagree with this analysis. Gold status is not easy to reach at any airline. The beauty of Centurion is that you get Gold on 4 airlines (CO, NW via cal, US, DL), Star Gold, + UAL extras. So I can choose any of these airlines on price alone, have absolutely no worries about EQM crap and still get upgraded at very high %. The annual fee pays for itself in the fare savings alone...let alone the upgrades.

As a former Starwood Gold and now Plat, the difference for me has been night and day. Immediate recognition at every property for Plats. As a Gold I was barely noticed.

And, oh yeah...Hyatt Diamond, Mandarin 1 free night on 2 night stay at reasonable rates, Ritz Carlton extra benes that are usually worth $150 over platinum, etc., etc.

But they key is the airline programs. Without them I would be out of Centurion and back to Plat quickly.

Fare savings? What fare savings?

Fare savings? What fare savings?

Because I have status on 4.5 airlines (UAL counts as .5 via US) I have the freedom to choose among all of those airlines based on price alone. In order to earn Gold Status, most people have little choice but to choose one airline even within an airline alliance.

For example, I bought a ticket last night on NW to EWR. It was $184 all-in. If I was a CO Gold I would only have gotten only 50% EQM and would have had to seriously consider flying CAL for $85 more. That EQM stuff made no difference to me. I saw the lowest price and grabbed it knowing I will be a CO Gold next year.

Hmm. So is this the only thread on the Merrill+ card? Nobody is enthused by the fact that you can use the points to get flights on domestic AND international flights and those flights will be mileage earning flights? And that the +2 and +3 perks don't take away from your accrued points? And that there's no annual fee?

I've been trying to decide on applying for this as a Visa supplement to my *wood AMEX and am surprised it's not getting more attention. Maybe some people can explain why....

I have the card, but it's currently dormant becuase I took a cash advance and have the funds sitting in my money market for a year earning interest. BTW, the interest rate is 0% for 12 months and a one time fee of $50.

I agree that this is a pretty good card given that you can double dip with the points earning and Ritz Carlton free nights. Given the ever increasing uncertainty of airline bankruptcies, I am beginning to think that frequent flyer loyalty isn't what it's all cracked up to be. With that said, I still use my *wood AmEx as my primary card given the value of starpoints.

Hmm.
I've been trying to decide on applying for this as a Visa supplement to my *wood AMEX and am surprised it's not getting more attention. Maybe some people can explain why....


Dave, The card is a great deal. I only use it to suppliment my Amex starwood. To get the most value , it's best to only charge $ 50K per year.
With that amount you earn 3 nights at the Ritz plus 50K airlines miles ( two round trip tickets). After 50K there are no more incentive bonuses, only standard points. AMEX MR typically costs 50K per night for a night at the Ritx. So you get almost 4 for 1 points.

Here what I did, I opened up two accounts, one For my Wife and one for myself. They have generous limits. This month, I will stop using the card untill the next calander year.

For my 100K in charges I earned 6 nights at the Ritz and four r/t coach tickets. I think the ualue is even higher than starwood ( assuming St Regis stay are the same as Ritz)

Dave, The card is a great deal. I only use it to suppliment my Amex starwood. To get the most value , it's best to only charge $ 50K per year.
With that amount you earn 3 nights at the Ritz plus 50K airlines miles ( two round trip tickets).

I've been thinking about picking up this card too. Shouldn't you have received 4 free nights though? One night when you reach the +2 level ($20K), and three more nights when you reach the +3 level ($50K)?

Here are the FULL details:


Annual fee
None.

†Annual Percentage Rate (APR) for purchases
5.9%

Other APRs APR for Bank and ATM Cash Advances
5.9%

APR for Balance Transfers and Cash Advance Checks
5.9%

Grace period for repayment of balance for purchases
At least 25 days from the statement Closing Date (provided you have paid in full the New Balance Total from the previous statement by its Payment Due Date).

Method of computing the balance for purchases Average Daily Balance (including new transactions).
Transaction fees for all cash advances and fees for paying late or exceeding the credit limit Transaction fee for Bank and ATM Cash Advances:3% of each cash advance (minimum $5).

Transaction fee for Balance Transfers and Cash Advance Checks
3% of each cash advance (minimum $5, maximum $50).

Late-payment fee
Based on your balance on the business day after the Payment Due Date - $15 if $100 or less; $29 if between $100.01 and $1000; $39 if over $1000.

Over-the-credit-limit fee
Based on your balance as of the day the fee is assessed - $15 if $500 or less; $29 if between $500.01 and $1000; $39 if over $1000.

Transaction fee for purchases Transaction fee for the purchase of wire transfers, person-to-person money transfers, bets, lottery tickets, and casino gaming chips
3% of each such purchase (minimum $5).

§ Earn 1 Point per dollar of new net retail purchases charged to your MERRILL+SM Rewards Program credit card. Purchase transactions are rounded to the nearest dollar.

Cash advances, purchases of money orders or other cash equivalents, unauthorized or fraudulent transactions, and fees and finance charges do not earn Points.

Points have no cash value, cannot be used to pay any credit card balance, and are valid for 5 years.

TRAVEL REWARDS have Point and corresponding maximum dollar value ("MDV") requirements. Miscellaneous costs not included. Rewards subject to availability.

Air There are 2 categories of Air Rewards: (1) Standard and (2) Special. There are 2 levels of Standard Air Rewards: (a) Preferred Carrier and (b) Non-Preferred Carrier. Standard Air Rewards offer worldwide coach-class travel departing from and returning to the U.S. (includes the District of Columbia, Alaska, Hawaii, and Puerto Rico) on eligible U.S. carriers. Required Points/MDV for Preferred Carrier Rewards: 25,000/$500; for Non-Preferred Carrier Rewards: 30,000/$500. You may select an eligible carrier/flight only if you choose a Non-Preferred Carrier Air Reward. You may obtain upgrades and/or exceed the MDV if redeeming additional points beyond 30,000. Other terms and costs may apply. A Special Air Reward consists of one (1) coach-class, round-trip air ticket for travel within the contiguous states (includes the District of Columbia). Each year (Jan. 1 - Dec. 31, inclusive) you may obtain one (1) Special Air Reward ticket for 20,000 Points/$400 MDV upon payment of a $20 fee. MDV includes all taxes and destination fees except the September 11th Security Fee. Other significant terms apply.

Car. Rent any car for any number of days with pickup and return to the same rental location within the U.S. For every 5,000 Points you redeem for an eligible rental, you will receive a ($50) credit toward the cost of the rental. 5,000 Points = $50 MDV. 7-day advance reservations are required and arrangements are subject to availability. Credit, age, and driver requirements apply. Miscellaneous costs are your responsibility. Additional terms apply.

Hotel. For every 5,000 Points you redeem, you will receive a ($50) credit toward the nightly cost of the accommodations. 5,000 Points = $50 MDV. 7-day advance reservations are required and accommodations are subject to availability. No minimum stay requirement. Miscellaneous costs are your responsibility. Additional terms apply.

MERCHANDISE AND GIFT CERTIFICATE REWARDS. Complete selection is available online or from a printed mini-catalog. Featured items may not reflect actual rewards. Goods of equal or similar value may be substituted if reward is unavailable. Rewards shipped prepaid.

SPECIAL EXPERIENCE REWARDS and +2 and +3 TIER BENEFITS: Cardholders may qualify for opportunities for limited-availability rewards such as vacation packages and sporting event tickets. Achievement of +2 and/or +3 level status will be based on total value of net retail consumer purchases charged to the card within a calendar year. Cash advances, including balance transfers, fees, finance charges, and purchases of money orders or other cash equivalents will not qualify for achievement of +2 or +3 status. +2 and +3 cardholders will have access to special discounts, upgrades, and similar benefits offered by and through third party suppliers. Special terms will apply and Point redemption requirements, if any are applicable, will be based on the dollar value of each of the rewards. Details will be provided at http://www.rewards.merrillcard.com as each reward becomes available. Account must have active charging privileges to qualify for any reward. Unless specifically authorized by MBNA, Points and rewards may not be combined with discounts or other programs, including airline or credit card programs, in the U.S. or abroad. Rewards fulfillment is managed by Carlson Companies, Inc., and its affiliates, including Carlson Travel Group and Carlson Marketing Group. Carlson Travel Group is a travel agency registered to do business in California (Reg. No. 2036509-50); Ohio (Reg. No. 87890286); Washington State (601123777430) and other states, as required. The Program is sponsored by MBNA. We are not responsible for errors and/or omissions in any Program document. Program terms may change. Program void where prohibited by law. Details accompany new account materials or view Program Rules at www.rewards.merrillcard.com.

I am not one for credit cards, however, in this case 5.9% APR for purchases and cash advances is a nice deal, especially with the 25-day grace period.

You can't obtain a 5.9% cash loan from any bank, unless you are utilizing a home equity loan line-of-credit.

here is a photo of the thing:
http://www.cardweb.com/images/m/merrilllynch/merrillplus_visa_trak.jpg

I like the free Ritz nights. Especially because it's a no fee card. I could definitely enjoy four free nights a year.

OOPS. 21 days in advance and a $500 limit. I never pay more than $250 to $300 that far in advance. In fact, I rarely use 25,000 points on other than an expensive last minute ticket or an overseas ticket.

These points cannot buy domestic upgrades or international flights. Do not know who the partners are yet so $500 in value could cost 30,000 points.

Doesn't seem a threat to AMEX yet. With Starwood card I can turn 20,000 points into 25,000 airmiles and a free ticket. Nice.

But you can use the $500 towards an international ticket. And no one lets you redeem 25,000 miles for an international ticket, usually it starts at at least 40,000 miles. So that's a big savings.

Also, some of these programs go out and buy a revenue ticket, not an award ticket. So you could potentially redeem 25,000 points for an international ticket and earn miles as well. If that's the case, a trip like JFK-FRA would earn you 7690 base miles, plus your elite bonus of 7690 = 15380 miles.

Not too shabby.

Has anyone applied for this card? Also if you is the approval instant or are yo unotified through the mail?

Considering the huge profits they make from me you would think at the least there would be a way to use points to pay the annual fees. They offer no such thing...

Rob

I used MR points last week to pay my Centurion's annual fee. I had to speak to a rep in the rewards travel department.

Chris

I used MR points last week to pay my Centurion's annual fee. I had to speak to a rep in the rewards travel department.

Chris

How many?

Has anyone applied for this card? Also if you is the approval instant or are yo unotified through the mail?

MBNA for the most part takes each application and conducts a manual review, so no instant online approval. At some point you may have to speak to a MBNA credit rep.

How many?

1c per point.

AmEx typically lets you redeem your points or cash at the awful rate of 0.5 cents / point.

1c/pt is still pretty low.

AmEx typically lets you redeem your points or cash at the awful rate of 0.5 cents / point.

1c/pt is still pretty low.


It's on par with most of their other rewards: i.e. a $100 gift cert for 10k points. However, I agree that the 0.5c cash redemption is pretty bad.

Chris

The Ritz-Carlton nights are a good benefit.

If the points are used on purchased tickets on your choice of airline and itinerary and those tickets are upgradeable, then the points aren't worthless (they otherwise would be, to me)

I'm intrigued by the 'personal concierge' at the 50k spend level.

Anyone actually have the card and have experience with the personal concierge, how does their concierge compare to Centerion? To Amex Plat?

I just recieved my card in the mail today so I am just 50K short to speak to any of the benefits. So far the service by MBNA has been impressive.


When I authorized the card it was with a live person who wanted to know if I wanted to know if wanted do a balance transfer and explained the point structure of the card. I have never had a credit card do that out of the gate.

...

When I authorized the card it was with a live person who wanted to know if I wanted to know if wanted do a balance transfer and explained the point structure of the card. I have never had a credit card do that out of the gate.

When I called to activate my AmEx SPG card i got a live person who also did the balance transfer & point structure talk...

Regards,

Chris

Has anyone applied for this card? Also if you is the approval instant or are yo unotified through the mail?

I applied through my Merrill Lynch rep. He took my info, told me he would call me back in 15 minutes, 10 minutes later he called back with my approval.

I have this card and I find it to be better than amex due to two reasons:

1. they post and let you use your points that you've earned immediately after the billing cycle closes. Amex waits for a complete 2 month to pass.

2. there is a screen on your account which shows temporary charges. every single charge that you make is immediately reflected online in about 10 minutes. Amex sometimes takes 4-5 days.

Two cons about this card :

1. The membership reward program is not as comprehensive as the Amex MR program.

2. They cap the price of flights to about $450 when you try to redeem your points (25,000 pts).

I own the Centurion, the Starwood AMEX and just got the Merrill Lynch - solely for the Ritz nights. Applied on-line last Wednesday after reading about it here and following up on their website. Card came Saturday - tho never got any kind of info that it was approved until the card came.

As far as I'm concerned, Centurion gets me some elite status, especially Starwood Platinum. It's the Starwood card I use for most things. Travel to Hawaii next summer will be on American, not on one of the carriers that the Centurion gave me elite status on. Why - American was willing to upgrade to FC on points at the time of ticketing. 48,000 Starpoints got us the 60,000 miles we needed to upgrade two tickets. There's no question to me that Starwood is still a card that no one has beaten, and combined with the Platinum status that Centurion gives me, it's a great package.

As far as Merrill Lynch's card, there are still some places that don't accept AMEX, I'm a ML customer, and will probably divert the $50,000 business purchases to that card to get the Ritz nights.

Boy, do we spend a lot of time thinking about this stuff!

2. They cap the price of flights to about $450 when you try to redeem your points (25,000 pts).

Its $500/25K pts.

Thanks to FT and this thread, I submitted my online application for this card yesterday. They left a voicemail on my phone yesterday; I just phoned back and have been approved with a generous credit line.

I will be happy to divert $50,000 of my business expenses from my Centurion to this card, and enjoy my 4 free nights at the Ritz. It will also be interesting to see if any of the other perks work out better than AmEx.

I used to get annoyed when I couldn't use AmEx with a merchant and had to use an 'unrewarding' VISA or MasterCard. Now I won't mind when a merchant won't take AmEx.

Susan

I am very impressed with the ML service so far. I even got a call from them yesterday asking if I have activated and received my card yet. i received the card about 2 weeks ago. They were making a security phone call check. Now this is good service. I never got a call from AMEX when I got their card.

I am very impressed with the ML service so far. I even got a call from them yesterday asking if I have activated and received my card yet. i received the card about 2 weeks ago. They were making a security phone call check. Now this is good service. I never got a call from AMEX when I got their card.

If ML can prove to be better in the customer service area, AMEX should expect to lose many customers as, I am sure, people are more concerned with quality service than the false sense of status from the AMEX product.

I am sure, however, that AMEX was once this good. Any long-timers (members, circa 1975, etc.) care to chime in?

Its $500/25K pts.

I believe there's also a $400 / 20k points ticket, no?

I believe there's also a $400 / 20k points ticket, no?

Special Air Rewards
For just 20,000 Points and a small processing fee, you can have a ticket to anywhere within the continental 48 states up to $400 in value. (One ticket per calendar year. Other restrictions and fees may apply. Please see Program Details for more information).

VS.

Standard Air Rewards
For just 25,000 Points, you could have a ticket for worldwide travel (up to $500 in value) on one of our preferred airlines. If you prefer a different carrier, the ticket is just 30,000 Points (up to $500 in value). For tickets over $500, redeem 5,000 Points for each additional $50 in ticket (or "fare value") cost. (Restrictions and fees may apply. Please see Program Details for more information).

Thanks to the input here, I will be getting my Merrill+ card in a few days.

Best regards,
Mirage

After earning 50K points do you receive 3 or 4 nights at the Ritz. It's not very clear.

:confused:

My understanding is that when you reach the 20K mark, they'll send you 1 stay certificate, and then when you reach the 50K mark, they'll send you 3 more stay certificates. So to answer your question, you will receive 4 nights free. I hope I am correct. :p

My understanding is that when you reach the 20K mark, they'll send you 1 stay certificate, and then when you reach the 50K mark, they'll send you 3 more stay certificates. So to answer your question, you will receive 4 nights free. I hope I am correct. :p


That's thet way I read it.

Slightly off AMEX topic.......... Does the Ritz free night have capicity controls. I was wondering how difficult it is to actually use them.

This would mean you need an account with a company that, based on their abysmal research will definately loose more $ than the awards are worth. It's too painful to mention them.

Hmm. So is this the only thread on the Merrill+ card? Nobody is enthused by the fact that you can use the points to get flights on domestic AND international flights and those flights will be mileage earning flights? And that the +2 and +3 perks don't take away from your accrued points?

Centurion actually offers this exact benefit. You get enrolled in Membership Rewards plus, which allows you to redeem points for revenue tickets at certain price points.

That's thet way I read it.

Slightly off AMEX topic.......... Does the Ritz free night have capicity controls. I was wondering how difficult it is to actually use them.


You call them to book the rooms. They dont actually mail certs. You do get a package of services and info when you reach level 1 or two. I odnt believe the room nights are capacity controlled. I have not used mine yet. I also need to find out if the free nights must be used that fiscal year or can they carry to the following year..

Rob

FYI: New card sweepstakes:
http://www.card.ml.com/make-over/

I just got the +3 benefits package today. They include a 75.00 discount cert for shipping your luggage/skis/golf clubs whatever...

I get the "private" concierge however I need to call them and find out who that person is...

Rob

Did you try using the concierge at the +1 and +2 level, and if so what are your impressions?



I just got the +3 benefits package today. They include a 75.00 discount cert for shipping your luggage/skis/golf clubs whatever...

I get the "private" concierge however I need to call them and find out who that person is...

Rob

I've been following this thread for quite a while, tried to apply online, but to no awail. Does anyone know whether it's available for customers residing outside the US?

I've been following this thread for quite a while, tried to apply online, but to no awail. Does anyone know whether it's available for customers residing outside the US?

I believe they require a U.S. address. I live in Denmark but had to give a U.S. address and they did do a credit check. They telephoned me to ask why my credit report was sparse (I only have a couple of credit cards using my mother's address in the U.S.). When I explained everything about where I really lived and why my credit record wasn't very comprehensive, they said, "fine, no problem, we'll approve you for a $15,000 credit limit."

They still sent the card to the U.S. address, though. And you would also need a U.S. social security or Tax ID number. Oh, and he also wanted to know if I needed any cash transferred into my checking account. :)

Susan

Made a call to the travel department. The preferred airlines are: "the major carriers" - exception she mentioned JetBlue would be unavailable for redemption after the end of the year.

The 25,000-point/$500 award toward an int'l ticket sounds great!

Got the card two months ago and used it only once. I figure there was no incentive to begin using it until Jan 1, 2005. Then I'll switch my spending from my Starwood AMEX and Centurion to the Merrill card until I hit $50,000 for the year. I KNOW the Ritz nights will be great - remains to be seen what redeeming the 50,000 points will be like. But I am excited to get started.

Got the card two months ago and used it only once. I figure there was no incentive to begin using it until Jan 1, 2005. Then I'll switch my spending from my Starwood AMEX and Centurion to the Merrill card until I hit $50,000 for the year. I KNOW the Ritz nights will be great - remains to be seen what redeeming the 50,000 points will be like. But I am excited to get started.

My thoughts and actions exactly!

Susan

Got the card two months ago and used it only once. I figure there was no incentive to begin using it until Jan 1, 2005. Then I'll switch my spending from my Starwood AMEX and Centurion to the Merrill card until I hit $50,000 for the year. I KNOW the Ritz nights will be great - remains to be seen what redeeming the 50,000 points will be like. But I am excited to get started.


The 50K points are not needed for the Ritz nights. You will get 4 FREE Ritz nights with the ability to upgrade for a suite for 25.00 addtl. They have decent redemption partners for gift certs and such. You can also get an airline ticket for 25K points with no blackout dates.

Rob

Drop an Amex Plat on the bar or table to pay a bill, and it is recognized as a card indicating that you have the seal of approval from American Express, revealing that you have enough discretionary income to pay the annual fee, excellent credit, and discipline enough to earn and spend within your means to meet the monthly bills -- that is the cachet of Amex Plat.
A black manure colored Visa card with a big bull on the front bearing the Merrill name will be recognized by few people; therefore, it has little if any cachet in the retail marketplace for goods and services. Compared to Amex Platinum, the Merrill + is just "full of bull."

Ive got to agree somewhat. Only people such as us who are engrossed in the world of credit cards can appreiciate some of this. The "white visa" (by stratus rewards) is a real contender for Amex's Centurion. People who want those cards, want the status with it. And quite frankly, the black card is the one with all the hub-bub behind it.

Drop an Amex Plat on the bar or table to pay a bill, and it is recognized as a card indicating that you have the seal of approval from American Express, revealing that you have enough discretionary income to pay the annual fee, excellent credit, and discipline enough to earn and spend within your means to meet the monthly bills -- that is the cachet of Amex Plat. A black manure colored Visa card with a big bull on the front bearing the Merrill name will be recognized by few people; therefore, it has little if any cachet in the retail marketplace for goods and services. Compared to Amex Platinum, the Merrill + is just "full of bull."

Dude, I dislike "Merrill Lynched" as much as the next guy. But seriously, what does the color of the card mean to anyone except the person who thinks they are dignified for carrying it. I'd use a pink CC with a flower and a puppy dog on it if I liked the benefits. I cant believe anyone really cares about your CC.

Ken in Phx

Drop an Amex Plat on the bar or table to pay a bill, and it is recognized as a card indicating that you have the seal of approval from American Express, revealing that you have enough discretionary income to pay the annual fee, excellent credit, and discipline enough to earn and spend within your means to meet the monthly bills -- that is the cachet of Amex Plat.
A black manure colored Visa card with a big bull on the front bearing the Merrill name will be recognized by few people; therefore, it has little if any cachet in the retail marketplace for goods and services. Compared to Amex Platinum, the Merrill + is just "full of bull."

I've used AmEx Plat for years, AmEx Centurion for the past year, and now have a Merrill + black card. I've never had a restaurant waiter or retail store clerk or hotel clerk, or anyone else for that matter, show a sudden recognition that I am any different from any other customer that they deal with, nor do I expect that.

It is the benefits that come with the various cards that determine my choice in what I carry and what I use to pay for purchases. Thinking that a credit card or charge card suddenly gives me some kind of status would be ridiculous.

Susan

I agree with SusanDK 100%. I have both Amex centurion and ML Visa. Both are fine products.

Who wants recognition from waiters -- not me. Obviously you other posters don't spend much time at straight nightclubs and exotic dance clubs. My Amex Platinum just by the cachet of its nearly universal recognition lets a beautiful vamp on the make for a partner or just a sugar daddy know without speaking a word that I got the dough to whisk her away to another country for a weekend getaway. I have done my own experiments in classy, gentleman's clubs by just sitting at the bar and letting the card on the table, and the card increases the degree and amount of attention recieved from exotic dancers. Amex Plat is the card of choice for trolling for golddiggers and exotic dancers. Picking up good looking women is the only reason I own Amex Plat, and it is the card of choice for spur of the moment romantic getaways since the Fine Hotels and Restaurants and the airport lounge access is worth the price alone. Players, gigolos, golddiggers, and vamps prefer Amex Plat -- most denizens of the hot dance scene have never even seen an Amex Centurion -- I would buy and use an Amex Plat even if Amex gave me a Centurion for free because Centurion may have cachet at the Ritz Carlton but not in the dance clubs of America among the felines of the night. As far as the Merrill + card its cachet "in the scene" is zero, and any dope without even an income can get a visa or mastercard in the form of a debit card by opening a checking account at the local bank. Amex Plat lets chicks know from the start that you have an income, good credit, discipline to spend and pay off a monthly bill, and that you are not cheap because no cheapskate is going to spend $395 for a credit card when he can get one for free.

dbayeddy2 has it right! i am 20 years old and a frequenter of night clubs and what not in the city (i live in boston). I will disagree on the centurion card....the black card around here has some status. In the right spots it will top any card. Any boob can get a visa/mc. To get a centurion is quite a feat lol. However the plat holds quite the status.....I certainly would rather recognition from girls rather then a waiter at a snooty restraunt....Just my humble opinion

Could this thread go any further downhill?

Amex Platinum could improve its Fine Dining program by reserving good tables for members at the nation's hottest exotic dance clubs in addition to the current selection of haute cuisine restaurants. The current program is called "Hot Plates," and a suggested name for the expanded program is "Hot Plates and Dates."

Dude, I dislike "Merrill Lynched" as much as the next guy. But seriously, what does the color of the card mean to anyone except the person who thinks they are dignified for carrying it. I'd use a pink CC with a flower and a puppy dog on it if I liked the benefits. I cant believe anyone really cares about your CC.

Ken in Phx


I concur! There once was a time when the Platinum card was obtained by invitation only. Now anyone can obtain/purchase one. It really takes an insecure person with a big ego to think that he/she will impress a stranger by the color of their card.

As an update... and an attempt to put the thread back on track, free Ritz nights have been removed from the list of benefits.

As an update... and an attempt to put the thread back on track, free Ritz nights have been removed from the list of benefits.


Are you sure about this? They have issued me a Ritz certificate for reaching the +2 level recently and expect to receive it this coming week. Furthermore, the rep gave me a code which grants me a free night in case I don't want to wait for the certificate to arrive in the mail.

As an update... and an attempt to put the thread back on track, free Ritz nights have been removed from the list of benefits.


Well, there goes the only reason I would get the card. (And I was going to apply because of that too.)

Are you sure about this? They have issued me a Ritz certificate for reaching the +2 level recently and expect to receive it this coming week. Furthermore, the rep gave me a code which grants me a free night in case I don't want to wait for the certificate to arrive in the mail.

Yes, I am quite sure. Free Ritz nights are no longer in the list of benefits for the next calendar year. You were able to redeem them because the year has yet to end.