Merrill Lynch & Co. has introduced a rewards program for Visa Signature Card customers.
The program offers Cash Management Account card holders one point for every dollar spent. Points can be redeemed for gift certificates at certain retailers and free travel-related services.
Card holders can also receive car rental and hotel room upgrades. Those with more than $10 million of assets at Merrill Lynch receive guaranteed airline upgrades to first class. "Our clients are time-pressed, frequent travelers with high service expectations," said Allen N. Jones, senior vice president and director of private client marketing. "The Visa Signature program offers simplicity to these clients by rewarding them for engaging in their regular spending activities and providing an easy way to redeem their points."