merrill lynch octave american express

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Yeru
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Postby Yeru » Tue Jan 20, 2015 1:22 am

I called ML the other day and the person on the phone flat out said that a Merrill account balance of $10M+ is required to be eligible for this card


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lobbythis
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Postby lobbythis » Tue Jan 20, 2015 2:42 am

Yeru wrote:I called ML the other day and the person on the phone flat out said that a Merrill account balance of $10M+ is required to be eligible for this card


You just have to call the recon number. No worries.

napsterdawson
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Postby napsterdawson » Mon Jan 26, 2015 4:00 pm

ccorso wrote:Photos of the Merrill Lynch Octave Card
MLOctaveCard1 - Front
MLOctaveCard - Side
MLOctaveCard - Box


Wow - very interesting - congrats - Could you possibly divulge information regarding this new card (AF/benefits/requirments) - I would love to gauge this to see if its worth pursuing.

Thank you in advance and again congrats.

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lobbythis
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Postby lobbythis » Tue Jan 27, 2015 1:52 am

napsterdawson wrote:Wow - very interesting - congrats - Could you possibly divulge information regarding this new card (AF/benefits/requirments) - I would love to gauge this to see if its worth pursuing.

Thank you in advance and again congrats.


It's already been mentioned on this forum. Read and stop trolling.

napsterdawson
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Postby napsterdawson » Tue Jan 27, 2015 8:32 am

lobbythis wrote:It's already been mentioned on this forum. Read and stop trolling.


Well I just joined this forum yesterday and that was my first post because this is the only thread that pops up when one searches "Octave." If you have any information regarding this card, I would appreciate any info.

Also, you're either using the word trolling wrong, or you yourself are a little too sensitive. Either way, thanks.

takeshi
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Postby takeshi » Tue Jan 27, 2015 9:42 am

lobbythis wrote:Read and stop trolling.

Read the definition of trolling and stop misusing it.

napsterdawson
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Postby napsterdawson » Tue Jan 27, 2015 2:53 pm

To me, it looks like Centurion is "superior" but of course that depends on every individual, but for all those interested, here you go...you're welcome and enjoy

http://milecards.com/1588417741/merrill-lynch-octave-a-black-card-with-5-unlimited-rewards-possible/

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lobbythis
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Postby lobbythis » Tue Jan 27, 2015 5:32 pm

You either have $10mm or you don't. If you had that though, I'd think you'd also have the brains to speak to Merrill directly.

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lobbythis
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Postby lobbythis » Tue Jan 27, 2015 5:34 pm

takeshi wrote:Read the definition of trolling and stop misusing it.


It's like what you do most of the time...respond with the exact same answer to every post.

Skip the long, elaborate fluff you normally type and just write "YMMV".

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CarefulBuilder14
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Postby CarefulBuilder14 » Tue Jan 27, 2015 6:23 pm

Keep in mind the real requirements! This card isn't for anyone with $10m - it's for people who have $10m and are willing to pay a big chunk of it over to ML each year.

1% of $10m is $100k in asset management fees.
Paying 0.1% of $10m for passive indexes is $10k, and a few hours of a tax planner's time can be had for a little bit more.

So unless your ML adviser can beat passive indexes by a wide margin (since you have to have to overcome higher management fees and tax inefficiency from higher portfolio turnover), the card comes with an enormous 'hidden' annual fee. I don't know many people that would pay almost $90k each year for a credit card.
Wallet: Prestige CSP SchwabPlat Freedom It Hyatt SallieMae AAPlat
SD: Arrival BrooksBros BCE ED IHG
Letting new accounts cool off since May
Really not sure what I'll add next or when



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