BofA vs. Merrill+ vs. FIA

[MJPEREZ77]

I know there are a lot of you who have either 1 or more of these cards. I believe that basically, from what I can read, they all tie in to BofA. So to my understanding, they are all underwritten by BofA, correct? Also, I realize that they all have their different benefits, but can anyone chime in on which may be a "better" choice to apply for? I don't see where there is a banking/investment account requirement for the Merill+, is that correct?

 

Thanks CBers!

[credithunting]

The Fidelity Rewards American Express Card (FIA) pays 2% cash back on purchases. The rewards dollars are can be swept into your Fidelity Cash Management account.

[mendelssohn]

I just got the Fidelity Amex and personally think it is their best card. I'm not too fond of most BOA cards.

Edited November 11, 2014 by mendelssohn

[shifter]

They have different cards that offer different value depending on your needs.

[MJPEREZ77]

They have different cards that offer different value depending on your needs.

LOL, I am not sure on my needs, this will be my first App Spree, and I want to add cards that I can grow the initial CL's. I know BofA cards are generous, DW was approved for $3k, denied a higher limit on recon due to no history with them, then 30 days or so later the luv button got her a CLI of $7k to a CL of $10k. Wondering if the FIA cards are similar and if the Merrill+ is even a good idea for someone with a thin file of current TL's, but good FICO's?

Edited November 11, 2014 by MJPEREZ77

[shifter]

You get cards because they fill a need in your wallet.

 

Too many people get stupid cards they have no use for.

 

Look at the rewards and benefits and choose accordingly.

[mendelssohn]

The worst thing you can do is go on an app spree and not know what you're looking for. I suggest coming up with a rewards strategy before doing anything.

[MJPEREZ77]

The worst thing you can do is go on an app spree and not know what you're looking for. I suggest coming up with a rewards strategy before doing anything.

Thanks, Mendel....actually I definitely have put together a list as well as a strategy for rewards, lol. I have all of 2015 planned out for myself and DW as well. What I was looking for with regards to this post was more of an answer in terms of experiences with CLI's and underwriting. Unfortunately, the CPDB is hit and miss with regards to CLI data. Or should I assume that since they are all BofA companies that each is as liberal as I have found BofA to be with the BofA line of cards? I actually don't see much value in the BofA cards, the FIA and the Merrill+ cards are more appealing to me. Again, thanks!

 

Does anyone know if there is a Brokerage requirement for the Merrill+ card similiar to the FIA cards?

Edited November 11, 2014 by MJPEREZ77

[MJPEREZ77]

The worst thing you can do is go on an app spree and not know what you're looking for. I suggest coming up with a rewards strategy before doing anything.

BTW, I learned this the hard way with DW's first App Spree, though it was very successful!!!