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Topics grouped from customer reviews, with how many mention each; read the originals below.
Showing 20 reviews mentioning great rewards Show all
Reddit · r/Bogleheads · Dec 20, 2025
PositiveSummary of a Reddit post
They moved a large balance into Merrill a couple of months ago, collecting the cash bonus but mainly doing it for the boosted credit card rewards that come with Preferred Rewards.
Reddit · r/fidelityinvestments · Jul 15, 2025
PositiveSummary of a Reddit post
They moved a 401(k) into Merrill Edge and kept the minimum needed for the top rewards tier, boosting their BofA card cash back and waiving bank fees, while shifting the rest of their money to Fidelity.
Reddit · r/Bogleheads · Sep 4, 2026
PositiveSummary of a Reddit post
They keep their assets at Merrill mainly for the elevated Bank of America credit card rewards perks and would not trade that for a Robinhood transfer bonus, citing Robinhood's weak customer service.
Reddit · r/MerrillEdge · Jul 28, 2026
MixedSummary of a Reddit post
Used mainly to keep Bank of America rewards qualification; as a self-directed brokerage it is fine, with Schwab's interface preferred, though for few transactions they are all really the same.
Reddit · r/Bogleheads · Jul 27, 2026
MixedSummary of a Reddit post
They used Merrill for a long time and still keep an account for the credit card points bonus. They find the Automatic Investment Plan fund selection limited with poor expense ratios, so they buy by hand each quarter.
Reddit · r/MerrillEdge · May 5, 2026
NegativeSummary of a Reddit post
Strong dislike of Merrill led to moving assets to Schwab while keeping just enough to qualify for Preferred Rewards.
Reddit · r/Schwab · Jan 8, 2026
MixedSummary of a Reddit post
They have used both Merrill and Schwab and say customer service is the big difference: the Bank of America card perks were nice, but Merrill support was not there when they had a problem.
Reddit · r/Bogleheads · Jan 5, 2026
MixedSummary of a Reddit post
They keep assets at Merrill for the boosted credit card rewards, which they rate among the best, though they find the cash APY at Merrill mediocre and pay their bills through Fidelity instead.
Reddit · r/Bogleheads · Jan 5, 2026
PositiveSummary of a Reddit post
They hold Vanguard ETFs at Merrill Edge to qualify for Platinum Honors. ETF trades carry no fees, but they warn that mutual funds outside the free list cost a transaction fee.
Reddit · r/MerrillEdge · Dec 11, 2025
MixedSummary of a Reddit post
Opened mainly for Preferred Rewards and holds ETFs there; approval took about three business days even in-branch and the IRA rollover went fine. Fine for buy and hold but not for active trading.
Reddit · r/investing · Dec 6, 2025
MixedSummary of a Reddit post
A former Merrill Edge user for the Preferred Rewards credit card boost. They say it is a good deal, but the platform blocks a surprisingly large number of mainstream ETFs, which can be very annoying.
Reddit · r/investing · Dec 6, 2025
PositiveSummary of a Reddit post
They think the move is definitely worth it: the Merrill interface is bad but fine for set-and-forget investing, and the credit card bonus it unlocks makes their BofA card one of the most valuable they hold.
Reddit · r/investing · Dec 6, 2025
PositiveSummary of a Reddit post
They keep their boring long-term investments at Merrill and use the Preferred Rewards boost to earn very strong cash back on their BofA card. They describe the setup as simple and nice.
Reddit · r/Bogleheads · Dec 6, 2025
PositiveSummary of a Reddit post
They keep a Merrill taxable account only to unlock the Bank of America Preferred Rewards boost on both of their BofA cards, while using Schwab for their main investing and IRA.
Reddit · r/Bogleheads · Nov 28, 2025
PositiveSummary of a Reddit post
They like the rewards structure of pairing BoA with Merrill and keep their cash in money market funds there, which they can liquidate quickly and move to their BoA bank account.
Reddit · r/Bogleheads · Nov 28, 2025
PositiveSummary of a Reddit post
They keep a chunk of their assets in a Merrill Edge account mainly to get boosted credit card rewards, while preferring Chase for everyday banking and holding assets at both firms for the perks.
Reddit · r/fidelityinvestments · Jul 14, 2025
MixedSummary of a Reddit post
They keep long-term holdings at Merrill despite a very bad interface because the BofA credit card rewards beat most cards. Day trading and dividend investing stay at Fidelity, whose system they find much better.
Reddit · r/investing · Feb 8, 2025
PositiveSummary of a Reddit post
They hold a Merrill Edge account together with a Bank of America rewards card and get the Preferred Rewards boost on card spending, calling the brokerage fine and the combined setup worthwhile.
Reddit · r/investing · Sep 18, 2025
PositiveSummary of a Reddit post
They use Merrill Edge as a self-directed account and have been quite happy, buying cheap index ETFs and enjoying the Bank of America perks that come with keeping a larger balance there.
Reddit · r/fidelityinvestments · Jul 13, 2025
PositiveSummary of a Reddit post
They hold accounts at both Fidelity and Merrill and keep both, praising the credit card boost as an excellent benefit and using Merrill for their long-term positions.
Of the 79 reviews with a clear verdict, 34% are positive, 34% mixed and 32% negative. The praise mentioned most is great rewards. The most common complaint is poor support.
The praise reviewers mention most: great rewards (20 reviews), easy to use (13 reviews) and reliable (7 reviews). For example: They hold accounts at both Fidelity and Merrill and keep both, praising the credit card boost as an excellent benefit and using Merrill for their long-term positions.
The complaints reviewers mention most: poor support (13 reviews), buggy app (10 reviews) and account frozen (5 reviews). For example: Cumbersome back-office restrictions, rough platform design, and endless hold music make customer service painful.
It's how well reviewed Merrill Edge Self-Directed is, out of 100. Negative and mixed reviews take points off, and so does having only a few reviews: a product needs plenty of them, compared with the most-reviewed products here, to reach the high 80s and 90s. It's worked out from reviews only, needs at least 5 of them, and updates as new ones come in.
Category: Brokerage. Type: Brokerage account. Fees: $0 online stock, ETF and option trades; no annual account fees (options contract and other fees may apply). Minimum: No balance minimums.
79 are quotes from Reddit, each linked to the original. Customer reviews are checked for spam before they appear. Every review, written here or quoted, is read as positive, mixed or negative.