Credit Card Center Advertiser Disclosure

Reply
Frequent Contributor
Posts: 490
Registered: ‎01-24-2008
0 Kudos

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

Congratulations on the CLI.
 
I have had a Merrick credit card since May '05. Started at $750. Almost always had a high balance. Finally transferred the balance to a 0% cc a few months ago. I transferred too much and have had a small credit since February.
 
Even with the credit on my credit, they still raised the CL $200 to $1750 this month. I was surprised, figured they would not be happy with going from ~90% util to a credit. Interest is 24.7%.
 
On a side note, called and asked to have annual fee (billed monthly) waived and was told that company policy is AFs are never waived for anybody. I read about that here on the forums before I called, but figured it was worth a shot!
Established Contributor
Posts: 853
Registered: ‎03-21-2008
0 Kudos

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

I'm going to avoid any Merrick bank cards with those rates and fees....good grief!~!!!
07/26/2007 TU-688
EQ-656
EX-649
Valued Contributor
Posts: 1,986
Registered: ‎08-17-2007
0 Kudos

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

they have something going on with new millenium bank who is now doing geico and i thought hooters.  I could access my merrick card on new mill's website.  STRANGE
Senior Contributor
Posts: 4,596
Registered: ‎09-14-2007
0 Kudos

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



Brammy wrote:
They seem to like you.. .call to ask to have it lowered, if not continue using and PIFing until they change their miinds.



I agree. If you like the card, use it. But to avoid the obscene interest pay it off in full every month. That's what I do on the high interest cards I have.
"Never ever, ever be late. Never" (FUTR)
New Visitor
Posts: 1
Registered: ‎04-17-2014
0 Kudos

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

was wondering how often  marrick bank does increase's,,when i got the card,,i got 500.00, and 6 months later got my 1st increase,, an yes i feel in interest rate is high,but i will deal,,,i would like to get another increase, but i dont dont how long i have to wait,, and i pay duble my payment all the time!!!Smiley Happy

Senior Contributor
Posts: 4,098
Registered: ‎09-26-2011
0 Kudos

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

DW and I both have Merrick Bank cards....if you keep it close to maxed out, they'll give you a CLI every four months like clock work.

 

Pay it off, or even down to half, and you get now more CLI's....

 

Pick your poison....lol!

 

Somehow, my interest rate is 19% with no annual fee, hers is 24% with a $3 monthly fee...go figure...

Zero percent financing is where the devil lives...

10/01/17 Fico8 scores: EX 660, EQ 647, TU 663
Valued Contributor
Posts: 1,666
Registered: ‎10-15-2011
0 Kudos

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

I used to get CLI's as long as I had a balance, no matter what it was or if I PIF.  My interest was 17.24% on my secured card. 

 

I really liked them and never really had any issues with them.  They are however stubborn about AFs, interest rates, and other card terms.  In the end I did have to simply close the account.  After 5 years of the account it was still secured and I was getting cards like Discover and Chase, so it simply had to go.  I tried writing to the credit dept. and even an executive at the bank.  It really was an executive, as I had spoken to her personally by randomly dialing their extension selection number when I had an issue with them closing my account.  At one point when I started opening cards to rebuild they got nervous and the CSRs were not too concerned about it and trying to help me get the account reopened.  So I simply called their HDQ and the operator kept transferring me back to the CSR dept., so I dialed random numbers and ended up with a VP.  She was able to get it reopened, which amazed every CSR I ever spoke with after that.  I was glad at that point that I did as having it age helped me later.  I just wish they were more friendly about changing terms, PC'ing, etc., but they served their purpose and now it is their loss I am not a customer, not mine!

It is by will alone I set my mind in motion.....
Always follow these rules: Only take a HP for a new account. Always use the best rewards card for that reward category. Don't close a card unless you know you really should. Never use more than 35% of a credit limit. Recon as much and as best you can. Use the introductory period to the best advantage. Get the signup bonus. Whenever possible PIF or balance transfer so you pay less in interest. Never give an excellent rating when it is actually the norm. Always look for a discount as more is always better.
Always accept candy from strangers because they have the best candy or from people you know have good candy.
Moderator
Posts: 9,202
Registered: ‎08-12-2013
0 Kudos

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


Freedombound wrote:
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. 

Congrats!

 

My Merrick is currently in the SD.  I don't have an AF, but the APR is my highest.  Since I know have rewards cards, I really don't have a use for this CC anymore.    They'll hit the year mark next month for me.  I may close it after the year two mark, but I might just close it if/when my Wally upgrades. 



Start: 619 (TU08, 9/2013) | Current: 791 (TU08, 8/15/17)
Sam's Club MC $25000 | Marvel MC $25000 | Macy's AMEX $25000 | AMEX BCE $20400 | Macy's Store $20000 | Discover IT $18000 | BoA BBR #1 $17200 | Cap 1 QS WMC $16500 | NFCU CLOC $15000 | JCP $15000 | Citi DC $12600 | BofA BBR #2 $11800 | Chase Disney Visa $11500 | Care Credit $10200 | CashForward WMC $10000 | Barclay Rewards WMC $10000 | WCU Visa $10000 | Cash+ VS $9000 | Amazon Store $8000 | Blispay $7500 | Sony Card $4250 | Target MC $4000 | Costco Anywhere $3200 | ~~Gardening Since 4/5/16
Super Contributor
Posts: 31,000
Registered: ‎02-07-2013
0 Kudos

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

2008 OLD THREAD 

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Senior Contributor
Posts: 4,098
Registered: ‎09-26-2011
0 Kudos

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


myjourney wrote:

2008 OLD THREAD 


So we should invite Cold?

Zero percent financing is where the devil lives...

10/01/17 Fico8 scores: EX 660, EQ 647, TU 663

Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.

† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
‡ Credit cards for FICO Score ranges: The score ranges are guidelines based on internal myFICO analysis of actual applicant approvals, and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range. These ranges were not provided by any card issuer.

* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.