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New Member
Freedombound
Posts: 8
Registered: ‎03-24-2008

Merrick Bank increased my credit line....

My limit was $950 and I got my statement today and they had increased it to $1150, because of my good payment history.  They increased it about 3 months ago also.
Does anyone have any experience with Merrick Bank?  I would like to keep their card, but the interest rate is 27% and I think that is way too high. 
Moderator Emeritus
Brammy
Posts: 5,436
Registered: ‎03-10-2007

Re: Merrick Bank increased my credit line....

They seem to like you.. .call to ask to have it lowered, if not continue using and PIFing until they change their miinds.
Senior Contributor
FretlessMayhem
Posts: 3,279
Registered: ‎08-03-2007

Re: Merrick Bank increased my credit line....

Welcome to the forums and congrats on the CLI!
Here we go again...
Frequent Contributor
shyboy
Posts: 378
Registered: ‎08-01-2007

Re: Merrick Bank increased my credit line....

congrats on the CLI. Keep up the good work
-------------------------------------------------------------------------------------------------Getting back in the credit game after major setbacks
Moderator Emeritus
llecs
Posts: 32,880
Registered: ‎08-04-2007

Re: Merrick Bank increased my credit line....

DW has the card directly from Merrick with $750. What were your habits like (high usage, PIF)? DW's is about 3-4 months old.
New Member
Freedombound
Posts: 8
Registered: ‎03-24-2008

Re: Merrick Bank increased my credit line....

I have had this card since june '07 and I didn't carry a balance for about 2 months (made charges and paid them off).  Then I had the card almost maxed out and made my regular payments plus a little extra ($10 or $15).  I paid down a couple of hundred in January and currently have a balance of $400.  I have always paid on time and I always pay more than the minimum, even if it is just a little bit.
 
Is her interest rate high?
Valued Contributor
casinoannie97
Posts: 1,989
Registered: ‎08-17-2007

Re: Merrick Bank increased my credit line....

[ Edited ]
they like high usage.  I haven't got a cli since i lowered usage and pif.  They will not lower interest.  all my clis were when i was almost maxed out.  their int. rate is absolutely the highest in the world.


Message Edited by casinoannie97 on 03-27-2008 05:35 PM
Member
WISHNHOPEN
Posts: 9
Registered: ‎03-12-2008

Re: Merrick Bank increased my credit line....

I must have the same card. Got it 9/07, this statement they raised it $200, interest rate is also 27%, but i don't usually carry a balance, so no biggie for me. This statement I was almost maxed (bad I know) but they still gave the CLI.
Moderator Emeritus
llecs
Posts: 32,880
Registered: ‎08-04-2007

Re: Merrick Bank increased my credit line....



Freedombound wrote:
I have had this card since june '07 and I didn't carry a balance for about 2 months (made charges and paid them off).  Then I had the card almost maxed out and made my regular payments plus a little extra ($10 or $15).  I paid down a couple of hundred in January and currently have a balance of $400.  I have always paid on time and I always pay more than the minimum, even if it is just a little bit.
 
Is her interest rate high?


Thanks for the info. Hers is 24.45%. She's carried a balance most of the time and went over the CL of $750 by a whopping $4. We then immediately PIF where it is at now. Would not be surprised if APR went up.
Established Contributor
heirophant
Posts: 532
Registered: ‎11-25-2007

Re: Merrick Bank increased my credit line....

Yeah, they are a weird bank.  I got my Hooters card from them with a 3K limit, $72 AF, and 26%.  I love the limit, but what's the story on the other terms?  If that is the way they feel about me, why did I get 3K to beging with?  I always PIF, though.  I can't bring myself to pay that interest.  And when I did carry about 1/2 that balance, I immediately apped for a WaMu card and transferred the balance.  Yeah, that interest is insane.
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