So I checked my mailbox today (have not checked the last couple of days) and had a couple of plain white letter evenlopes with what felt like cards in them. Didn't think much of it, I have been getting some offers for auto loans every since I filed BK with "membership cards" in it. Much to my surprise got a Merrick Bank pre-approved letter. Read through all the fine print, and it looks very acceptable with my credit situation right now. $36 AF. APR is 25.70%, but no way I am going to be carrying a balance.
They start you off at $700 CL, and the letter states they will automatically double the CL to $1,400 after making at least your minimum monthly payments on time for the first 7 months the account is open. The increase is automatic. Sounds like a sweet deal. No fees of any other sort other than the AF. No processing fees, account open fee, etc. This is going to be my first real credit card after BK. I say real, since the Maxtrix and Surge in my sig are just tools to rebuild. I am not using the card other than to put my credit check total sub on it, and my cell phone bill. With the Merrick Bank card, I can actually use to pay gas at the pump (A task you cannot do with either Surge, or the Matrix card) and will be my daily use card. One thing I want to add is that this is my second Merrick Bank issued card. I do have a history with them back in 2010 or so. Had a Hooters Card with a low limit of $400. I closed the card in good standing probably a year or so after. Happy times!
