Are you considering obtaining a Merrill Lynch Credit Card? There are some things to consider when accepting a Merrill Lynch Credit Card, or any new credit card for that matter. You will want to know what types of cards the company issues, what can you expect regarding card benefits and if there are rewards associated with the card. Many times it is the answers to these questions that will determine whether your credit card will really work for you.
Types of Merrill Lynch Credit Cards
Merrill Lynch currently issues two types of credit cards, two types of debit cards and two types of cards specific to businesses. Their credit cards are Merrill+ and Total Merrill Cash Back. Signature Rewards and Merrill Lynch Access are their debit cards and their business cards are WCMA Business Access and Business Signature Rewards. All of these are VISA cards and many offer different types of rewards. This article will discuss the features and benefits specific to the credit cards that Merrill Lynch issues, namely Merrill+ and Total Merrill Cash Back.
Merrill+ Credit Card
The Merrill+ card has no annual fee and allows the holder to accumulate a point for each dollar spent on retail purchases. The points can be redeemed for rewards. The rewards can be in the form of merchandise, gift certificates, cash towards a Merrill Lynch 529 account or cash to cover a commissions and fees on another Merrill Lynch account. If you carry both the Merrill+ and the Signature Rewards cards, you can link them which will allow you to accumulate points more quickly.
The points also can be used toward airline travel once you have accrued 25,000 points. There are no travel restrictions or blackout dates that apply when using your reward points. When you use this card to book a cruise, Merrill Lynch will guarantee that you get the lowest price and also double the points you receive from the purchase. In addition, Merrill+ cardholders receive notice of bonus point deals and special savings offered by partners.
The Merrill+ card has zero liability protection and purchase security for up to $500. Zero liability protection means that the cardholder is not liable for any unauthorized purchases made with their card. Purchase security is the assurance that Merrill Lynch will replace, repair or reimburse you for losses of items purchased with their credit card up to the specified limit. Purchasing an item with the Merrill+ card automatically doubles the manufacturer’s warranty free repair period. Merrill Lynch has an Early Fraud Warning system that monitors card usage so that the cardholder can be notified if unusual activity is detected.
With the Merrill+ card cardholders also get emergency transportation assistance. This service will make arrangements to return you home or get you to a medical facility in the event of an emergency while you are traveling. The arrangements are made free of charge; however, the cardholder is responsible for any costs that result from the arrangements made. If you lose your luggage, this card provides help with the airline claim process and can arrange for shipment of replacement items if needed. When used to pay for a rental car this card automatically covers auto rental collision damage. This card also includes $1,000,000 in Common Carrier Accident Insurance. This provides accidental death and dismemberment coverage when a card member and their family are traveling together on a common carrier.
Merrill Cash Back Credit Card
The second Merrill Lynch credit card is its Total Merrill Cash Back card. This card pays 1.25% on virtually any purchase made with the card. Like the Merrill+ card, it provides zero liability protection, purchase protection, supplemental auto rental insurance, and the common carrier travel accident insurance. There is no annual fee for this card.
Both the Merrill+ and the Total Merrill Cash Back cards come with Visa Signature benefits. Having Visa Signature on your Merrill+ or Total Merrill Cash Back card gets you special offers for upgrades at hotels, resorts, cruises and travel providers.
Visa Signature offers access to premium Broadway tickets from a private inventory, preferred service and cancellation insurance. Special access and savings at wine tasting events, wines, and wine pairings are other benefits of Visa Signature. Lastly, Visa Signature improves access to exclusive sporting events like the Super Bowl or the World Series.
Compare Merrill Lynch Credit Card Offers
As with any credit card, as good as the benefits are you are still liable for any purchases you make with the card. With this in mind it is important to know your limits and manage your credit responsibly.
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