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Unfortunately, BoA products are subpar, including Merrill Edge. The interest rate for the savings account is nearly 2% lower and the mutual funds available have
by xapata 8y ago
Unfortunately, BoA products are subpar, including Merrill Edge. The interest rate for the savings account is nearly 2% lower and the mutual funds available have either high expense ratios or transaction fees. While that 0.6% bonus on credit card spending might give me some hundreds of dollars annually, I'd be sacrificing thousands of dollars for it.
- whitepoplar 8y agoYou could just buy low-cost ETFs of your choice for free. If you're looking for some place to park cash, BIL is yielding 2.15%. That being said, I'm not advocating that everyone switch to BofA/Merrill Edge, just that it's a really good deal for those who want it.
- xapata 8y agoI appreciate the tip. Now I need to estimate how much I'd gain from the card versus how much time I'd spend moving money around. BTW, Uber's Visa from Barclaycard gives something like 4% on restaurants and 3% on travel, which is the bulk of my discretionary spending.