Merrill Lynch Octave Credit Card Review (Discontinued)

Merrill Lynch Octave Review

Application Link

  • This card no longer accepts new applications.

Benefits

  1. Earn 2.5x Merrill Points on all purchases.
  2. The reward program are the same as the one for Merrill Plus credit card (discontinued). The points are worth up to 2 cents/point. See this post for a visualized point value distribution. The following is the official term about point value:

    How To Use Your Points: Redeem points for air ticket, cash rewards and gift cards. Anytime, Anywhere Air Rewards start at 25,000 Merrill Points for flights up to $500 (inclusive of taxes and fees). Cash rewards start at 3,000 Merrill Points and shall be issued for a U.S. dollar sum equal to 1% of the amount of Merrill Points redeemed in the form of a statement credit, an electronic deposit to a Bank of America® checking or savings account or a contribution to an eligible Merrill Lynch Cash Management Account®. The redemption value for gift cards varies.

  3. $350 annual travel credit OR Delta SkyClub Executive membership.
  4. 20% off the base fare of up to 2 roundtrip coach tickets per itinerary.
  5. Select international first / business class fare discounts.
  6. No foreign transaction fee.
  7. Metal card.

Disadvantages

  1. You can apply for this card only if you are a Merrill Lynch Private Wealth Management client, to be short, you need $10 million assets in Merrill Lynch.
  2. $950 annual fee.
  3. No sign-up bonus.

Summary

You can apply for this card only if you are a Merrill Lynch Private Wealth Management client, the standard is almost identical to JP Morgan Reserve. If you are not super rich, just forget about this card. The benefits of this card is just so so, so I don’t recommend it even if you are super rich.

Historical Offers Chart

This card is probably discontinued.

Application Link

  • This card no longer accepts new applications.

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