topic Is the Mercury Visa 1% Cashback Worth the Pull? in Bankruptcy

Is the Mercury Visa 1% Cashback Worth the Pull?

Mike1014805 — Tue, 06 Aug 2024 02:09:38 GMT

So I filed for Bankruptcy in Feb 2024, and I was discharged in May 2024. This month will make 3 months DC and 6 Months Filed. I was just offered on Amazon the Mercury Visa 1% Cashback and Points Redemption for Amazon w/no AF. I guess Amazon and Mercury have partnered with each other. I am only pre-approved for $500 and can get immediate access of up to $100 on amazon + $50 Giftcard to Amazon as well. I burned Chase and Synchrony as well, so I don't qualify for those cards either. And I read that Synchrony takes 1 to 2 years to get back in.

I currently have the following cards already:

Ally Cashback $1,000
Merrick Bank Double Your Line $1,000
Mission Lane Visa $1,000

They're all pretty low limits, but they do their job. I was told my BK Lawyer to have 4 to 5 Cards within the first 12 months after Discharge. I burned EVERY major bank when I filed, so I'm limited. Capitalone won't let me in for at least 12 months after DC because I burned them for $10,000. I had a lot of medical debt I put on all of my credit cards, which is why I filed.

Anyway, is it worth the hard pull on Transunion for this card? Or should I wait?
Transunion is my lowest score, at 622. EQ is at 649 and Ex is at 652. So I don't know why Transunion is so far behind.

Re: Is the Mercury Visa 1% Cashback Worth the Pull?

MileHigh96 — Tue, 06 Aug 2024 15:37:38 GMT

I have this card, it was one on my first three right after my discharge, and I got the card before they had partnered with Amazon. It's been an okay card, hasn't shown an awful lot of growth for me (started with a $3K CL and after one small auto CLI it sits at $3350.

Now to be fair, I didn't force a lot of spend through the card, so I'm doing that now to see if that will generate an auto increase, since you can't ask for one. I'm using it as my primary card on Amazon for a few months and that will force a few thousand dollars through the card. It is nice because those rewards that do accrue on the card do show up on Amazon and you can redeem them right on Amazon, so that's a nice perk.

All that to say that yeah, it's not a great card, but it's still halfway decent when coming right out of a BK7 and it's much better than a lot of the predatory sub prime cards out there. And as always, YMMV.

Re: Is the Mercury Visa 1% Cashback Worth the Pull?

IsambardPrince — Tue, 06 Aug 2024 22:44:09 GMT

@MileHigh96 wrote:
I have this card, it was one on my first three right after my discharge, and I got the card before they had partnered with Amazon. It's been an okay card, hasn't shown an awful lot of growth for me (started with a $3K CL and after one small auto CLI it sits at $3350.

Now to be fair, I didn't force a lot of spend through the card, so I'm doing that now to see if that will generate an auto increase, since you can't ask for one. I'm using it as my primary card on Amazon for a few months and that will force a few thousand dollars through the card. It is nice because those rewards that do accrue on the card do show up on Amazon and you can redeem them right on Amazon, so that's a nice perk.

All that to say that yeah, it's not a great card, but it's still halfway decent when coming right out of a BK7 and it's much better than a lot of the predatory sub prime cards out there. And as always, YMMV.

They have to invite you to the Mercury card. As bankruptcy rebuilders go, it doesn't sound horrible unless you get the one with the annual fee.

They've been continuously offering me the one with no AF and 1% cashback since my discharge 4 years ago.

However, I have cards with flat 2% and categories with much higher rates.

I've heard of some people getting a Mercury offer with 5% on groceries and gas and no AF. This is what it would take to get me to ask for one.

Re: Is the Mercury Visa 1% Cashback Worth the Pull?

Mike1014805 — Fri, 09 Aug 2024 00:40:28 GMT

@MileHigh96 wrote:
I have this card, it was one on my first three right after my discharge, and I got the card before they had partnered with Amazon. It's been an okay card, hasn't shown an awful lot of growth for me (started with a $3K CL and after one small auto CLI it sits at $3350.

Now to be fair, I didn't force a lot of spend through the card, so I'm doing that now to see if that will generate an auto increase, since you can't ask for one. I'm using it as my primary card on Amazon for a few months and that will force a few thousand dollars through the card. It is nice because those rewards that do accrue on the card do show up on Amazon and you can redeem them right on Amazon, so that's a nice perk.

All that to say that yeah, it's not a great card, but it's still halfway decent when coming right out of a BK7 and it's much better than a lot of the predatory sub prime cards out there. And as always, YMMV.

See the card is only $500 and I've read mixed reviews in terms of getting a higher limit with them. However, I know I'm in the process of rebuilding. Is it worth adding this card to my profile, even though it's a low limit?

I know in 3 weeks I'll be able to cold app for the Penfed Card (goal card), but there's no guarantee with that. My Equifax score is only a 649, which isn't that high. Speaking of Penfed, I remember you mentioning that in another one of my posts...do you remember what your Equifax Score was at when you applied? Did you wait EXACTLY 4 months, or was it roughly 4 months after discharge? The rep said you just need 6 months after filing to qualify with them.

Re: Is the Mercury Visa 1% Cashback Worth the Pull?

MileHigh96 — Mon, 12 Aug 2024 16:07:05 GMT

@Mike1014805 wrote:
@MileHigh96 wrote:
I have this card, it was one on my first three right after my discharge, and I got the card before they had partnered with Amazon. It's been an okay card, hasn't shown an awful lot of growth for me (started with a $3K CL and after one small auto CLI it sits at $3350.

Now to be fair, I didn't force a lot of spend through the card, so I'm doing that now to see if that will generate an auto increase, since you can't ask for one. I'm using it as my primary card on Amazon for a few months and that will force a few thousand dollars through the card. It is nice because those rewards that do accrue on the card do show up on Amazon and you can redeem them right on Amazon, so that's a nice perk.

All that to say that yeah, it's not a great card, but it's still halfway decent when coming right out of a BK7 and it's much better than a lot of the predatory sub prime cards out there. And as always, YMMV.

See the card is only $500 and I've read mixed reviews in terms of getting a higher limit with them. However, I know I'm in the process of rebuilding. Is it worth adding this card to my profile, even though it's a low limit?

I know in 3 weeks I'll be able to cold app for the Penfed Card (goal card), but there's no guarantee with that. My Equifax score is only a 649, which isn't that high. Speaking of Penfed, I remember you mentioning that in another one of my posts...do you remember what your Equifax Score was at when you applied? Did you wait EXACTLY 4 months, or was it roughly 4 months after discharge? The rep said you just need 6 months after filing to qualify with them.

Where did you get your pre-approval from for the Mercury card? I don't remember being given what my CL was going to be when I applied. I think I got the invitation to apply for the card either from CK or Experian, I don't remember now at this point. I don't even think I knew that I was pre-approved at the time, I think I just had the invitation to blindly apply.

As for PenFed, sorry, I don't remember either what my scores were at the time, or the exact time when I app'ed for the card, but I think it was at least a few days past 4 months because I wasn't calendar watrching for the exact date where I could first apply.

Re: Is the Mercury Visa 1% Cashback Worth the Pull?

Lyle5653 — Fri, 16 Aug 2024 03:24:10 GMT

Mercury is a good card. Mine started at $750 and 1% CB , no af. 4 years later is at $4850 and 2% CB.

Re: Is the Mercury Visa 1% Cashback Worth the Pull?

Zoostation1 — Wed, 21 Aug 2024 01:53:57 GMT

One of the Mercury cards I see advertised on CK is now a Visa Signature and there have been a few DPs of people getting Mercury cards upgraded from the original 1% to 2% CB.

Re: Is the Mercury Visa 1% Cashback Worth the Pull?

Scorphiom — Mon, 17 Mar 2025 11:39:18 GMT

Oh, people actually get their card upgraded? I have had my 1% CB Mercury Visa since 7/24, I was pre-approved for $2750, and I am still at that limit. I put about $500 per month on it, and pay in full. I was hoping I'd get a CLI by now. I have other cards, that offer much better rewards, that is why I don't put much on this being only 1%. If it were upgraded to a flat 2% card, I'd probably shove $3-4k monthly on it. (Filed Ch7 3/24)

Re: Is the Mercury Visa 1% Cashback Worth the Pull?

Lurker22 — Mon, 17 Mar 2025 12:36:07 GMT

I don't have the card but I believe there's better cards out there such as USB C+ or USB Alt Go - both approve so long as they're successful in pulling the secure funds, NFCU nRewards is the same if you're eligble to join - NFCU graduates automatically within the first year (there's a set schedule but I don't remember it exactly, I think it's 8 months)