Consider a Premium Cash Back Rewards Credit Card From Your Broker

Nowadays, it seems that just about every big company has hopped on the credit card bandwagon by issuing its own branded card. Usually, I just criticize this category cards, because awards are usually average at best. However, broker-related credit should be an exception ... they have more money back, better customer service, and the list goes on. Off course the catch is they want you to register with their brokerage account. However, most people already have accounts with these brokers through their 401K or Roth IRA plans and simply call them to verify eligibility for high reward and cash back credit card. Let's take a look at the three of the most popular credit card broker

Total Merrill Cash Back

If you have or are looking to open a Merrill Lynch brokerage account, you may want to consider their credit cards as well. The biggest perk of this card is that it gives 1.25% on virtually all purchases (vs. 1.00% of average in most maps). While 0.25% may not seem like much, if you funnel all purchases through this map, over the course of a year it can really add up. It's Visa Signature card, which is considered to be notch above the platinum card. There is no annual fee and cash back earned is deposited directly to your Merrill Lynch account.

Schwab Bank Invest First

For those investors with a Charles Schwab account, it is still better than Merrill credit card offers. It gives a lot of 2% Cash Back all purchases. There is no annual fee for the Visa Signature card, but for you will of course need to have a Charles Schwab account. I was unable to find any documentation online about exactly which accounts Qualify, so I called their customer service to find out. They said that any Schwab account with 8-digit account number will qualify - you should get most jobs or media accounts. Another good feature: collect cash back is credited to your account each month, rather than just at the end of the year.

Fidelity Investment Rewards American Express

This is another good rewards credit card that gives 2% cash back on purchases. How it works is that you earn points that can then be redeemed for deposit into the right Fidelity account (or brokerage mySmart Cash Account). They also offer two other versions that will put money back into your Fidelity 529 college savings account or a Fidelity IRA account (which both have obvious benefits tax). In addition to cash back, what I really like about this map is that it is American Express, so you can expect great customer service and some of the benefits you won't found on most other cards. Another perk is that there is no annual fee, as you know is not always the case with AMEX cards. For example, American Express Platinum is hefty $ 450 annual fee (which is worth it if you travel, thanks to access the room)!

Conclusion

The credit card world, there are two types of customers. First are those who want to esteem and red carpet treatment. They are willing to shell out big bucks on the American Express Platinum, Visa Black Card, etc. in order to get it. At the other end of the spectrum are financially savvy customers who want to get the most bang for their buck ... broker associated with the above cards is decided! If you are a smart investor, it makes sense to vote for the better value rather than status symbols.

Personal Finance