I can’t justify these annual fees for travel cards given I’m traveling less and frankly the airlines are getting to be such crap. So I’m transitioning to cash back. I see BofA has a 1.5% cashback card with no annual fee and you can get a 75% boost (to 2.62%) with 100k on deposit w BofA or Merrill. So I’m considering moving my retirement savings to Merrill for this deal. Has anyone done this? Have reservations or thoughts?

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I had a similar situation with Chase Sapphire banking last year. Simply can’t justify moving that amount of money to avoid fees. Such a pain in the ass, and I like where my investments are held

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In this case it wouldn’t avoid fees but boost the cash back. Otherwise I’ll just do Citi double cash, but the extra .62% is tantalizing. But you raise a good point. I like vanguard and I’m curious if there are some hidden fees at Merrill that I need to look into

You are doing the right thing. The BoA premium rewards card with platinum pro status (+100K assets) is considered to be the best 1-card approach to points in the entire market.

It just doesn’t get much publicity because they don’t pay bloggers, etc

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Agreed

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Fidelity has a 2% card and there’s also a bonus if you have enough assets or maybe you have to be a part of their wealth program? I’ve seen it footnoted but I don’t have any assets there.

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