Merrick Bank good?

[DaveInAZ]

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@Anonymous wrote:

Thanks...I'll give it a try....wish me luck

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Good luck!  Congratulations!

They're a much better rebuild card than Credit One or First Premier, although they do seem to becoming more agressive on annual fees, they must be seeing what those guys get away with. I got the pre-approval letter less than a year after my BK7 discharge and was approved, and back in 12/2011 they didn't have any fees, just the horrendous 25.9% APR. Although I've outgrown the card with other CCs with rewards & much better terms I still have the Merrick card - it has a $3100 CL & no fees. I have Netflix & another small monthly bill post to it and the very occaisional small in store purchase, as long as they stay happy with that I'll keep it open. 

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@Anonymous wrote:

SteelerNYC,

10k? Whoa! I burned them for a measly $300 and they still denied me few weeks ago! LOL

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I burned Cap One for just under $19k and have a Quicksilver Sig Visa w/$10k - but I didn't app with them until nearly 4 years post discharge and had a couple positive post BK tradelines with them from cards they acquired, Orchard Bank Secured & Best Buy MC. If you burned Cap One in BK they want to see some other positive CC usage before they'll approve you.

[Anonymous]

DaveInAz,

I agree! I wouldn't touch these 2 credit cards either!

[Anonymous]

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@Anonymous wrote:

SteelerNYC,

10k? Whoa! I burned them for a measly $300 and they still denied me few weeks ago! LOL

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Barclays, PayPal Credit, Synchrony, Walmart and a lot of the other cards folks have had good post BK luck with for hefty amounts as well. I think I need to create a relationship with a credit union next. Wish I had a way into NFCU!

[TRC_WA]

Grats OP...

... in the beginning stages of a rebuild it's worth it to pay AF.

[Anonymous]

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@Anonymous wrote:

DaveInAz,

I agree! I wouldn't touch these 2 credit cards either!

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I actually don't think CreditOne is THAT bad if you really watch what you're doing with them. I paid a $75 AF for a card I can hopefully cancel in 11.5 months and never let purchases sit on it long enough that interest from day 1 on them really matters. Also, if you set them up in your checking's online bill pay, a payment will post in 2 days instead of 4 with no extra fee.

Now First Premier I looked at, and thought HECK NO.

[Pway]

Congrats on the Merrick Bank approval.  They are a good card to have when rebuilding.  I had them years ago and I burned them in my bk.  Give Capital One some time.  I was approved for Capital One 4 months out of discharge.  I burned them as well, I had positive tradelines reporting and I currently have three cards with them.  They are truly forgiving.

[Anonymous]

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@Anonymous wrote:

*sigh*

I mean....

a B-I-G H-U-GE *sigh*

Feeling....

R-E-L-I-E-V-E-D!!!!

GOT APPROVED!!!!! That's my first every NON-Secured credit card nearly 2 months post BK7!

I just hope Capital One would consider me later (Not sure how long since I burned them $300 in my BK7) and Barlays? I just want MAXIMUM 3 cards that's it not interested in racking up debt at all just to rebuild and use that to buy a home in about 2 or so years!

Thanks TRC_WA

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Congrats on your approval!!! You only need 1 card to begin your rebuild and now you have one. Focus on good credit habits with the one credit card and others will come. If you don't want to a lot of cards with AFs, then don't app for them. The goal is to build good credit history and you can accomplish it with one card. Stay focused, be patient, and stick to your goals! You will get there. Good luck!!!

[DaUsMsB]

Congrats on your approval.  Also you burned Cap1 for only $300? I beleive some on here have had their denied app recon'd after talking to them and paying them back for what they burned them.  If it's only $300 and you  have that to get back in...think of it as a one time processing fee lol.  May be worth a shot as Cap1 has been generous with most here post BK.

[Anonymous]

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@DaUsMsB wrote:

Congrats on your approval.  Also you burned Cap1 for only $300? I beleive some on here have had their denied app recon'd after talking to them and paying them back for what they burned them.  If it's only $300 and you  have that to get back in...think of it as a one time processing fee lol.  May be worth a shot as Cap1 has been generous with most here post BK.

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I personally wouldn't bother. Seems they let everyone back in so long as they build good history post BK . . just takes 6 mos, 1 year, etc.

I'm waiting it out. I also don't have 10k laying around