05-12-2013 01:18 PM
I am desperately trying to rebuild my credit post Ch.7 discharge in September 2012 and I received a pre approved letter in the mail today for a Merrick Bank Visa for $700.00 which will double with 7 on time payments. I decided to apply for it and I got the message that said my application was submitted and they will contact me soon. Does this mean that I am denied???
Call them when you get a chance. I had a weird incident with Merrick Bank last year when i got sent a pre-approved offer from them. I applied and got the message that they needed to review the app. To my surprise i got a denial letter from them (cannot remember what were the reasons). Didnt care about it much. Then about a month later i get another letter from them saying that due to computer processing error my application would be approved and eventually got the card in the mail about a week later. Good luck and keep us posted!
05-13-2013 02:48 PM
|Chase Freedom $9500|
DCU Visa $10000
Capital One QS $2000
AMEX BCE $3000
|Lowe's CC $8500|
WalMart CC $3100
BOA Platinum $600
AMEX Gold NPSL
05-13-2013 03:16 PM
I called today and the CSR told me that my application is being reviewed. She said that it could take 2 to 4 weeks to get an answer because apparently Merrick Bank sent out so many invitations and the response has been so great. I felt a little more encouraged after speaking to her that I may get approved because she said that if I wasn't approved, I would have gotten an automatic denial. However, it stills dosen't guarantee that I'm approved either. Hopefully I'll hear soon and have some good news to share.
05-13-2013 04:40 PM
Best of luck to you! Merrick was my 2nd card in my rebuilding process. I initially got a $700 CL, and after 6 months they auto increased it to $1400.
05-14-2013 09:31 AM - edited 05-14-2013 09:35 AM
I received the offer last Thursday and I jumped on it. It does have a HIR, but it's the only card that offered no annual fee,no set up fee,etc.
I did the application process online and was approved. You asked about how long it until it shows on credit report. I'm not sure about reporting, but on Friday Equifax notified me of the inquiry, and yesterday (Monday) I was notified of a new open account with a $500 limit from them.
Hoping I should get the card within a week or so
05-14-2013 10:29 AM
I just applied and got the "you'll hear from us" msg. i called the bank and was transferred to the credit dept b/c transunion insists that there is an apt # on my address. I advised this to the csr; she put me on hold and said i can call tomorrow and get the status or wait 5 days for the "decision to arrive by mail". After reading that this bank had a fit about CURRENT customers opening a lot of account, i'm thinking this is a no go because of all the store accounts i've opened recently. would gladly trade them for this offer. its the 1st i've received that doesn't have an apr of 29.99 (this is 25.45) and offers $700 initial. if approved i'll let you all know but after realizing this offer is "pre-selected" and not "preapproved", I'm thinking this one is gonna tank.
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