I think Merrick Bank has run it's course for me. Close?

[Anonymous]

I've had a Merrick card for 3.5 years and have not had a CLI on it for 2 years. I have put a little something on the card each month I've had it and either PIF or carried a balance for a month or two. I'm considering paying off my $160 balance and closing it. CL is $2.3k   Seems there is nothing to grow from it anymore and I could do without the hassle of making a $3 payment each month.

[creditguy]

Close it and move on. Merrick doesn't reach very high as far as CL's go. I'm sure you have better cards and Merrick helped you get to where you are, but it did its job and it's time to retire it. No need to pay the AF on a card with no rewards or prospects of better limits.

[TiggerDat]

I had mine for 5 1/2 years I think.  Mine did get higher than yours did.  I also got tired of the monthly fee.  Mine was the secured version.  I have to say I tried to do anything and everything to get them to unsecure me and change the fee structure but was never successful.  I do wish they did grow better with people as their profiles changed.  It would be nice if they offered a rewards card that one could PC or graduate into.

[DaveInAZ]

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@Anonymous wrote:

I've had a Merrick card for 3.5 years and have not had a CLI on it for 2 years. I have put a little something on the card each month I've had it and either PIF or carried a balance for a month or two. I'm considering paying off my $160 balance and closing it. CL is $2.3k   Seems there is nothing to grow from it anymore and I could do without the hassle of making a $3 payment each month.

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I've had my Merrick Visa for 4 years and got it up to $3100 CL, but yeah it's been at least 2 years since I've had a CLI - but I don't expect one, I've only been charging $20-30 per month on it with Netflix & another small monthly bill. I've definitely outgrown it with CCs with rewards & much higher CLs, but I'm happy to keep it, it's never had any fees so why toss it? When you say "the hassle of making a $3 payment each month" - are those account fees? If mine had any fees I'd definitely shut it down, I've also outgrown paying anyone to have their card.

[CreditCuriosity]

It has served it purpose then some.. Close it as you are past the card.. Good re-builder card indeed.

[Anonymous]

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@CreditCuriousity wrote:

It has served it purpose then some.. Close it as you are past the card.. Good re-builder card indeed.

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+1

[ddemari]

Good rebuilder card and nice that they give FICO 08 TU bankcard credit score but at some point they ran their course for you. I used Merrick Visa for a little one year, got better cards and then closed it out. 

[NichelleN]

 I closed my Merrick after one year. It was great for rebuilding but it was time to move on.

[Anonymous]

Welcome to the club.

[Anonymous]

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@TiggerDat wrote:

I had mine for 5 1/2 years I think.  Mine did get higher than yours did.  I also got tired of the monthly fee.  Mine was the secured version.  I have to say I tried to do anything and everything to get them to unsecure me and change the fee structure but was never successful.  I do wish they did grow better with people as their profiles changed.  It would be nice if they offered a rewards card that one could PC or graduate into.

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It sucks, but Merrick Bank has no desire to move into the prime market. Unfortunately, there will always be people rebuilding or folks that never learn to play the credit game.