07-13-2013 09:29 PM
I got a pre-screened letter from them a couple months back, my only card at the time was an Applied Bank secured. I applied and was very surprised and happy to see a $500 CL! I wasn't so happy about the $75 account set up fee and a $48 annual fee, but it was an unsecured card which again made me feel pretty good.
I had a lot of student loans in default until I rehabed and consolidated them back in Nov/Dec. I can handle $48 annual fee, especially if I get the CLI after 5-7 months since I know my 573 FICO is pretty bad
If not I might close them as I recentely got 2 Capital One cards, $1000 Platnium and $500 Cash Rewards both on the Credit Steps Program, the $1000 goes to $1500 after 7 months and the $500 to $750. Baby steps but it's a start
07-13-2013 10:06 PM
Just remembered this as well. Sign up for paperless billing and get a free FICO score each month. Didn't see any details and it doesn't say which bureau. Hopefully not EQ since I already have a CM program with them.
CC-enhanced TU FICO 08
07-14-2013 11:25 AM
07-15-2013 12:08 AM - edited 07-15-2013 02:44 AM
I have them as one of my secured cards. From my understanding, after 6-8 months of ontime payments, they bump you up. Some have said they give you a decent increase, some have gotten double their credit lines.
The good thing about them is, they offer you a free FICO score from Transunion which is a BANKCARD08 score.
07-15-2013 10:45 AM
I got a pre-selected (or pre-approved... don't know now) and was approved for a $500 limit which is supposed to double after my 7th statement. No fees, monthly or annual. Free FICO a month. I was approved last week and they've already reported on my credit. My latest score alert says my Experian was at 600. I pulled my TU in April and it was 576.
07-15-2013 01:22 PM
FWI... I signed up with them back in December of last year. My 7th statement just cut and with it came an auto CLI of $500. So I went from a $500 CL to a $1000 CL.
07-21-2013 04:53 PM
HOT DIGGITY DOG!!! I had this letter in a pile of papers. Never really paid attention. Have been on a bit of an app spree with not a lot of luck the past couple weeks. But yesterday I did the shopping cart trick with 3 Comenity stores and got the cards (all with $250 limits) and then was cleaning my credit file out this evening and found the Merrick Bank papers and saw that it expires tomorrow. So, I figured why not, my hard pulls are already too many and applied and got it with I am assuming the $750 credit line from the papers they sent me. I am so excited. I was itching to finally get a bank card that wasn't secured. Thanks Merrick! It had no set up fees, no annual fees and since I am finally debt free I couldn't care less about the interest as I pay off my cards each month.
I am finally on the road to recovery and it feels fantastic.
Ok, off to the garden I go.
07-23-2013 09:52 PM
Merrick is great for the free TU score (Which seems to update on totally random days)
As long as you keep your payments up, everything should be fine.
From what I understand, as soon as you are 1 day late on a payment, they become satan!
07-24-2013 04:48 PM
I also got this card, If used correctly it will help to improve your credit scores.
07-24-2013 04:51 PM
What are your scores? My scores were 594, 598, 604 when my card was approved.
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.
* 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.
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.