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Merrick Bank increased my credit line....

Frequent Contributor

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!
Message 11 of 20
Established Contributor

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
Message 12 of 20
Valued Contributor

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
Message 13 of 20
Senior Contributor

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)
Message 14 of 20
New Visitor

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

Message 15 of 20
Senior Contributor

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
Message 16 of 20
Valued Contributor

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.
Message 17 of 20
Moderator

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, 12/1/17)
Sam's Club MC $25000 | Marvel MC $25000 | Macy's AMEX $25000 | AMEX BCE $20400 | Discover IT $20000 | Macy's Store $20000 | Cap 1 QS WMC $17250 | BoA BBR #1 $17200 | JCP $15000 | Citi DC $12600 | Freedom VS $12000 | BofA BBR #2 $11800 | Disney VS $11500 | Care Credit MC $11200 | Cash+ VS $10500 | CashForward WMC $10000 | Barclay Rewards WMC $10000 | WCU Visa $10000 | Amazon Store $8000 | Blispay $7500 | Target MC $5000 | Sony Card $4250 | ~~Gardening Since 11/2/17
Message 18 of 20
Super Contributor

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?
Message 19 of 20
Senior Contributor

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
Message 20 of 20