topic Re: Merrick Bank Double Your Line Pre-Approval mail offer. Yay or nay? in Credit Card Applications

Merrick Bank Double Your Line Pre-Approval mail offer. Yay or nay?

Anonymous — Tue, 10 Dec 2019 23:10:06 GMT

EDIT: Decided not to apply. It's more meaningless crap.

"Your pre-approved Credit Line is based on information in your credit report indicating that you meet certain criteria. If your application is approved, your credit Line will be $1,250."

Almost certain that if I apply it will be a instant denial.

So I got a pre-approval offer from Merrick Bank. With that said this is a Pre-Approval vs a Pre-Quallfied offer that I had with Cap1 and AMEX that were both denied.

Thinking about taking it's not pure garbage like CreditOne is and doen't carry an annual fee. With that said I question if this is going to be a denial as well based on short credit history or income.

Says $1250 SL

25.2% APR (I pay in full so this doesn't matter)

No AF

Thoughts?

Re: Merrick Bank Double Your Line Pre-Approval mail offer. Yay or nay?

Shooting-For-800 — Tue, 10 Dec 2019 22:44:56 GMT

Merrick is a solid bank that does not play games.

I had one for years with no annual fee.

No issues at all and never spent a dime on interest or fees of any kind.

They closed my account due to no usuage for 12 months (which I was not happy about.)

Congrats! GL!

Re: Merrick Bank Double Your Line Pre-Approval mail offer. Yay or nay?

Anonymous — Tue, 10 Dec 2019 23:05:55 GMT

Agreed. They seem to be one of the best of the non-prime cards. They don’t pretend to be what they aren’t. They just offer no a no frills card and don’t seem to fool around with predatory practices.

Just keep your expectations of it in check. Do your part and the SL will double. Don’t expect it to grow continually and be a long term, high limit card for you.

If you have the need for a card that offers what this one does, go for it. If your just desperate for an approval, in light of your recent declines and frustrations, I’d pass.

Re: Merrick Bank Double Your Line Pre-Approval mail offer. Yay or nay?

Anonymous — Tue, 10 Dec 2019 23:13:30 GMT

@Anonymous wrote:
Agreed. They seem to be one of the best of the non-prime cards. They don’t pretend to be what they aren’t. They just offer no a no frills card and don’t seem to fool around with predatory practices.

Just keep your expectations of it in check. Do your part and the SL will double. Don’t expect it to grow continually and be a long term, high limit card for you.

If you have the need for a card that offers what this one does, go for it. If your just desperate for an approval, in light of your recent declines and frustrations, I’d pass.

After reading it more closely the chance of my approval are iffy and it's not like I'd use the card that much anyhow. It would be there for the cases I run out of credit with WF and can't pay them off fast enough due to pending charges.

Re: Merrick Bank Double Your Line Pre-Approval mail offer. Yay or nay?

Anonymous — Tue, 10 Dec 2019 23:32:19 GMT

They’re at least a few steps up from credit one, indigo etc etc. non predator bank. Good luck

Re: Merrick Bank Double Your Line Pre-Approval mail offer. Yay or nay?

Anonymous — Tue, 10 Dec 2019 23:50:13 GMT

I have the same card with the same offer. My credit limit is suppose to double after 3/20. I have no complaints about the bank or the card. Solid way to keep moving forward building credit.

Re: Merrick Bank Double Your Line Pre-Approval mail offer. Yay or nay?

Anonymous — Tue, 10 Dec 2019 23:54:19 GMT

Unlike some of the other cards you were going for, this is a (re)builder card and is more likely to approve riskier files.

Re: Merrick Bank Double Your Line Pre-Approval mail offer. Yay or nay?

Anonymous — Wed, 11 Dec 2019 00:01:38 GMT

I will second that you need to use the card atleast a couple of times a year if approved. Merrick bank apparently is known for closing accounts that aren't used for a year as already stated. I have a small recurring charge set up on mine monthly. I don't need the card but I want the added credit limit for a higher over all credit availability.

Re: Merrick Bank Double Your Line Pre-Approval mail offer. Yay or nay?

Anonymous — Wed, 11 Dec 2019 00:02:23 GMT

@Anonymous wrote:
Unlike some of the other cards you were going for, this is a (re)builder card and is more likely to approve riskier files.

Yeah, Ultimately as mentioned in my edit I decided to tear it up and not apply. Sticking with WF for now and hope for a CLI in April when i'll try agian.

Re: Merrick Bank Double Your Line Pre-Approval mail offer. Yay or nay?

Shooting-For-800 — Wed, 11 Dec 2019 01:03:26 GMT

If you only have 1 major credit card and your starting limit was $1250, I would think twice.

If you have a code to input, I would be very suprised if you were not approved.

6 months later you would have a real $2500 card with no fees.

Re: Merrick Bank Double Your Line Pre-Approval mail offer. Yay or nay?

Anonymous — Wed, 11 Dec 2019 02:24:42 GMT

@Shooting-For-800 wrote:
If you only have 1 major credit card and your starting limit was $1250, I would think twice.
If you have a code to input, I would be very suprised if you were not approved.
6 months later you would have a real $2500 card with no fees.

Maybe.... I did have a code to input but it's since been shredded within the mess of papers here I needed to get rid of. Did have a mission lane offer that I got rid of as well due to a AF.

Twice reading about Cap1 and AMEX having strong Pre-Quals here and was denied for both.

Honestly, I want a CLI on the WF CashWise vs another no rewards credit card since i'm putting everything on that besides Target. Applying and getting denials and pushing my INQs may prevent a CLI.

Re: Merrick Bank Double Your Line Pre-Approval mail offer. Yay or nay?

Anonymous — Wed, 11 Dec 2019 03:03:27 GMT

@Anonymous wrote:
@Shooting-For-800 wrote:
If you only have 1 major credit card and your starting limit was $1250, I would think twice.
If you have a code to input, I would be very suprised if you were not approved.
6 months later you would have a real $2500 card with no fees.

Maybe.... I did have a code to input but it's since been shredded within the mess of papers here I needed to get rid of. Did have a mission lane offer that I got rid of as well due to a AF.

Twice reading about Cap1 and AMEX having strong Pre-Quals here and was denied for both.

Honestly, I want a CLI on the WF CashWise vs another no rewards credit card since i'm putting everything on that besides Target. Applying and getting denials and pushing my INQs may prevent a CLI.

Except you were denied for low income, something that isn't known until you actually submit an app.

Re: Merrick Bank Double Your Line Pre-Approval mail offer. Yay or nay?

Anonymous — Wed, 11 Dec 2019 03:22:23 GMT

@Anonymous wrote:
@Anonymous wrote:
@Shooting-For-800 wrote:
If you only have 1 major credit card and your starting limit was $1250, I would think twice.
If you have a code to input, I would be very suprised if you were not approved.
6 months later you would have a real $2500 card with no fees.

Maybe.... I did have a code to input but it's since been shredded within the mess of papers here I needed to get rid of. Did have a mission lane offer that I got rid of as well due to a AF.

Twice reading about Cap1 and AMEX having strong Pre-Quals here and was denied for both.

Honestly, I want a CLI on the WF CashWise vs another no rewards credit card since i'm putting everything on that besides Target. Applying and getting denials and pushing my INQs may prevent a CLI.
Except you were denied for low income, something that isn't known until you actually submit an app.

Cap1 never mentioned income being an issue. They said my credit history was too short in so many words. AMEX is the only one that has mentioned income in writing.

Re: Merrick Bank Double Your Line Pre-Approval mail offer. Yay or nay?

Anonymous — Wed, 11 Dec 2019 13:57:20 GMT

They will resend the invatation.

Apply for it. All these folks didnt come out to defend a lemon card. They all, including myself, have no complaints about Merrick.

If you gotta pull cash, pull it from here. CA's from Wells, Disco, Amex..... red flag. no joy! Merrick is usually 100% cash advailable up to your CL. Pay it off, they will love you even more.

Re: Merrick Bank Double Your Line Pre-Approval mail offer. Yay or nay?

Anonymous — Wed, 11 Dec 2019 14:46:06 GMT

@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
@Shooting-For-800 wrote:
If you only have 1 major credit card and your starting limit was $1250, I would think twice.
If you have a code to input, I would be very suprised if you were not approved.
6 months later you would have a real $2500 card with no fees.

Maybe.... I did have a code to input but it's since been shredded within the mess of papers here I needed to get rid of. Did have a mission lane offer that I got rid of as well due to a AF.

Twice reading about Cap1 and AMEX having strong Pre-Quals here and was denied for both.

Honestly, I want a CLI on the WF CashWise vs another no rewards credit card since i'm putting everything on that besides Target. Applying and getting denials and pushing my INQs may prevent a CLI.
Except you were denied for low income, something that isn't known until you actually submit an app.
Cap1 never mentioned income being an issue. They said my credit history was too short in so many words. AMEX is the only one that has mentioned income in writing.

Right but you assumed that your income was a problem for Capital One too so it probably was. Reasons for denial are not always THE reason, just A reason.

Merrick has a prequal website. I would go check it and see if you can pull up your offer.

https://onlineoffer.merrickbank.com

Re: Merrick Bank Double Your Line Pre-Approval mail offer. Yay or nay?

Winesnoblv — Wed, 11 Dec 2019 17:20:14 GMT

Merrick Bank is a solid non-prime bank and great for rebuilding. When I lost my job in 2011 my credit went to pot (in the low 500 range). In 2013, with numerous charge-offs on my report, I received a mailer from Merrick and was approved with an $800 sl. Since it was the only card I had, I used it and paid it in full monthly. In 3 years, the cl had been increased numerous times to $3,200. A year later, I was approved for a Capital One card. Both helped me rebuild by credit to where it is today along with help from everyone here. Since then, I have been able to close Merrick and acquire prime credit cards.

Re: Merrick Bank Double Your Line Pre-Approval mail offer. Yay or nay?

Anonymous — Wed, 11 Dec 2019 19:03:04 GMT

IMHO, I would caution you as per your recent cascade of denials. Even marrick has limits to credit seeking behavior. I forgot your HP count.

That said, Merrick is a decent Bank for people in your situation They're even a great bank for people who truly need someone to start out with, and have rocky credit. And in my experience they offer CLI's quite often. So I think it would be a mistake to turn your nose up at them, or feel you're past what they could offer you. Especially given your situation ATM. If you're truly going into the garden for 1-2 years, you could end this year with one more HP and take a chance.

It's totally your call, but I feel dismissing them out of some misplaced idea would be wrong.

Re: Merrick Bank Double Your Line Pre-Approval mail offer. Yay or nay?

Anonymous — Wed, 11 Dec 2019 20:41:02 GMT

@Anonymous wrote:
IMHO, I would caution you as per your recent cascade of denials. Even marrick has limits to credit seeking behavior. I forgot your HP count.

That said, Merrick is a decent Bank for people in your situation They're even a great bank for people who truly need someone to start out with, and have rocky credit. And in my experience they offer CLI's quite often. So I think it would be a mistake to turn your nose up at them, or feel you're past what they could offer you. Especially given your situation ATM. If you're truly going into the garden for 1-2 years, you could end this year with one more HP and take a chance.

It's totally your call, but I feel dismissing them out of some misplaced idea would be wrong.

3 Tu 2 Eq 2 Ex. Honestly puhsing Tu to 4 seems like a bad idea and may put a WF CLI in jeopardy. IIRC they are inq sensitive. I wouldn't use the card very much tho. Just the bare min to keep it afloat and push everything to the WF card as i'm doing now.

Re: Merrick Bank Double Your Line Pre-Approval mail offer. Yay or nay?

Anonymous — Wed, 11 Dec 2019 21:07:17 GMT

@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
@Shooting-For-800 wrote:
If you only have 1 major credit card and your starting limit was $1250, I would think twice.
If you have a code to input, I would be very suprised if you were not approved.
6 months later you would have a real $2500 card with no fees.

Maybe.... I did have a code to input but it's since been shredded within the mess of papers here I needed to get rid of. Did have a mission lane offer that I got rid of as well due to a AF.

Twice reading about Cap1 and AMEX having strong Pre-Quals here and was denied for both.

Honestly, I want a CLI on the WF CashWise vs another no rewards credit card since i'm putting everything on that besides Target. Applying and getting denials and pushing my INQs may prevent a CLI.
Except you were denied for low income, something that isn't known until you actually submit an app.
Cap1 never mentioned income being an issue. They said my credit history was too short in so many words. AMEX is the only one that has mentioned income in writing.
Right but you assumed that your income was a problem for Capital One too so it probably was. Reasons for denial are not always THE reason, just A reason.

Merrick has a prequal website. I would go check it and see if you can pull up your offer.

https://onlineoffer.merrickbank.com

It's possible tho it was never mentioned in writing so it seems wrong to assume. At least tho I know AMEX is a dead end for now but still have a chance with Cap1 down the road. That is if Income wasn't an issue for them but I don't know.

Re: Merrick Bank Double Your Line Pre-Approval mail offer. Yay or nay?

Anonymous — Wed, 11 Dec 2019 22:55:56 GMT

Sorry to hear you tore it up.

i had the exact same offer7+ years ago when i was rebuilding. They are true to their word and will doulbe your limit.

I grew it to $4k+ since and with no AF, i keep it open ( $50 purchase/year)

More than likely, you would have been approved (they are usually pretty accurate with their mailings)