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Member
windyhair
Posts: 15
Registered: ‎03-20-2012

merrick card?

Hey all-

I'm needing some advice here. Since I've started fixing/rebuilding, I've signed up for 2 cards (the only ones I have), the usual cap one and an orchard bank, both $300 limits. I'm using them and paying off every month. I've had the Orchard one for 5 months and the Cap One for just a month. Well, now I go and get a preapproved offer from Merrick. I really don't know anything about them, but have read a few posts here. It's a rebuilding program, $600 cl to begin with, and after 7 months of on-time payments, doubling to $1200. 

 

What would you do? Stick with what I have and wait? Or go for this one? I'm at a loss here.

 

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tinuviel
Posts: 4,877
Registered: ‎11-02-2010

Re: merrick card?

What are the fees?


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Valued Contributor
cobra19
Posts: 1,426
Registered: ‎07-24-2007

Re: merrick card?

Hello Windy:

 

If I recall, the Merrick bank MC is a Hooters Card - an excellent (well, very good anyway) card, IMO, for those in the rebuilding their credit stage. I do believe there is a fee ($6 a month sticks out in my mind for some reason). 

 

In any event, I would go for it. My sister got one of those 3 years ago when I was helping her rebuild. She started out at $300, now she is up to $1500.

 

Good luck.

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Regular Contributor
Juss11
Posts: 222
Registered: ‎10-16-2011

Re: merrick card?

I got the exact same offer about a month ago.I also have the same two other cards.After 6 months cap one will probbsly move you to 500. What's your TU score? Reason why I ask is b/c you might can get a Barclayscard.I append with them and was approved for 1,200 and no AF.Merrick card had 50 AF I think?
Established Contributor
casmith1980
Posts: 633
Registered: ‎03-20-2010

Re: merrick card?

IMHO:  You already have two cards with AFs (I'm assuming based on the creditors).  I personally would stay away from another card with an annual fee.  Just keep the two cards you have, garden and then apply for maybe a Barclays that has $0 AF. 

 

just my two cents.

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Established Contributor
adavis425
Posts: 512
Registered: ‎02-14-2012

Re: merrick card?


windyhair wrote:

Hey all-

I'm needing some advice here. Since I've started fixing/rebuilding, I've signed up for 2 cards (the only ones I have), the usual cap one and an orchard bank, both $300 limits. I'm using them and paying off every month. I've had the Orchard one for 5 months and the Cap One for just a month. Well, now I go and get a preapproved offer from Merrick. I really don't know anything about them, but have read a few posts here. It's a rebuilding program, $600 cl to begin with, and after 7 months of on-time payments, doubling to $1200. 

 

What would you do? Stick with what I have and wait? Or go for this one? I'm at a loss here.

 

 

I'd go for Merrick. I got one in my rebuilding stage about 4 years ago. Started at $870 (the amount of a collection account). I paid that down and have gotten auto CLI every 4 months for sometime now. CL now up to $2000. There is an AF. I pay $3 per month which is ok for a $2k limit. I was going to axe them when I went prime, but decided not to. I'd go for it. Good luck!

 

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Valued Member
GWilliam
Posts: 47
Registered: ‎02-16-2009

Re: merrick card?

I wish my CL would increase from the original $500 from 18 months ago, but at least I don't have an AF! 


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JohnPTEX
Posts: 401
Registered: ‎02-23-2012

Re: merrick card?

Yeah I've had my Merrick card since 07/2011 and it doubled to $1,400 in February - I haven't had any issues with the card or the customer service - since having the higher credit limit my credit has also singnificantly increased

 

 


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Member
windyhair
Posts: 15
Registered: ‎03-20-2012

Re: merrick card?

Fees are significant- $72/yr. Looks like it's charged at $6/month after the first year but all at once the first year.

Member
windyhair
Posts: 15
Registered: ‎03-20-2012

Re: merrick card?


Juss11 wrote:
I got the exact same offer about a month ago.I also have the same two other cards.After 6 months cap one will probbsly move you to 500. What's your TU score? Reason why I ask is b/c you might can get a Barclayscard.I append with them and was approved for 1,200 and no AF.Merrick card had 50 AF I think?

My TU is 620. I'm just not sure what I would do with a Barclay's card. Seems kind of silly if I'm not an apple user. At all. Of any of their products! (I know, I'm so behind the times.)


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