topic Re: I must be moving up in the world! (Merrick Bank) in Credit Cards

I must be moving up in the world! (Merrick Bank)

Anonymous — Wed, 10 Oct 2012 12:10:19 GMT

These last ten years I've spent with never a late payment to anyone and the multiple large lines of credit I've cultivated have really elevated me in the eyes of Merrick Bank, which I've been with since about 2003. They must recognize the excellent credit risk I am, and they've rewarded my loyalty.

I got a notice from Pageonce that my APR decreased by 2%. It was 32.45% and now it's 30.45%

Re: I must be moving up in the world! (Merrick Bank)

llecs — Wed, 10 Oct 2012 12:20:00 GMT

Re: I must be moving up in the world! (Merrick Bank)

DeadSpider — Wed, 10 Oct 2012 12:31:28 GMT

My Freedom is wayyyyyy better at 29.99 APR.

Re: I must be moving up in the world! (Merrick Bank)

shakalaka — Wed, 10 Oct 2012 12:31:38 GMT

Wow, nice

Re: I must be moving up in the world! (Merrick Bank)

creditnocash — Wed, 10 Oct 2012 13:36:50 GMT

@DeadSpider wrote:
My Freedom is wayyyyyy better at 29.99 APR.

is that with a lovely late payment sent there way?

Re: I must be moving up in the world! (Merrick Bank)

DeadSpider — Wed, 10 Oct 2012 16:07:31 GMT

Few lates (few days) yes but that was over a year ago and when it used to be WAMU card, I don't know how to lower it, it was around 13 at one point and went up and up to around 18 and bam to 29.99 when Chase took over !!! I recently converted old Chase card to Freedom.

I do PIF each month now NO WAY IM paying that APR grrrrr.

Re: I must be moving up in the world! (Merrick Bank)

OnTheRebound — Wed, 10 Oct 2012 16:22:25 GMT

My wife's Freedom is 29.24%. Perfect payment history in the 12 years she had it (former Providian / WAMU and now Chase). The APR was always high (24%?) but when Chase took over they raised it to 29.24%. Needles to say, we never carry a balance.

Re: I must be moving up in the world! (Merrick Bank)

Anonymous — Wed, 10 Oct 2012 16:27:44 GMT

Wow LOL, I got another letter from Merrick saying they are watching me and that they noticed I opened a lot of cards...I just bought a car as well, Anyway hope it goes down a lot more

Re: I must be moving up in the world! (Merrick Bank)

TheConductor — Wed, 10 Oct 2012 16:38:59 GMT

Dream big...hope for 28.46% !

Re: I must be moving up in the world! (Merrick Bank)

Creditaddict — Wed, 10 Oct 2012 19:04:15 GMT

Wait you still have it open... Isn't it high fees?

What is limit?

Balance?

Re: I must be moving up in the world! (Merrick Bank)

Anonymous — Wed, 10 Oct 2012 19:55:36 GMT

Were you addressing me, Creditaddict? Here's the information on my Merrick card:

It started at $800 or $1,000 CL. (can't remember which - it's been a while.) Originally it had a reasonable interest rate (reasonable-high for someone who had a BK in 2002.) At some point they jacked it to 32% and I didn't notice it for more than a year,but this was around 2005 or so - still a long time ago! I don't believe I did anything wrong and when I asked, they verified that it wasn't a "punishment," but they didn't say why they raised it. They claimed their records only went back a year so they didn't have access to that information.

Anyway, back to the present day: It's never had an annual fee. At one point they started a $1 per month fee when there's any balance on the card, but no fee on months I don't use the card. So I use it as a "charge card" and pay it off every month. I'm not concerned about paying $1 for the privilege.

It's an agreeable-enough "charge card" and easy to pay online; the CSRs have always been courteous and helpful when I"ve called them.

No balance; limit is $3,300.00

Re: I must be moving up in the world! (Merrick Bank)

Creditaddict — Wed, 10 Oct 2012 20:19:32 GMT

@Anonymous wrote:
Were you addressing me, Creditaddict? Here's the information on my Merrick card:

It started at $800 or $1,000 CL. (can't remember which - it's been a while.) Originally it had a reasonable interest rate (reasonable-high for someone who had a BK in 2002.) At some point they jacked it to 32% and I didn't notice it for more than a year,but this was around 2005 or so - still a long time ago! I don't believe I did anything wrong and when I asked, they verified that it wasn't a "punishment," but they didn't say why they raised it. They claimed their records only went back a year so they didn't have access to that information.

Anyway, back to the present day: It's never had an annual fee. At one point they started a $1 per month fee when there's any balance on the card, but no fee on months I don't use the card. So I use it as a "charge card" and pay it off every month. I'm not concerned about paying $1 for the privilege.

It's an agreeable-enough "charge card" and easy to pay online; the CSRs have always been courteous and helpful when I"ve called them.

No balance; limit is $3,300.00

HAHA, now that I read this... I TOTALLY had this card... $800 was the HIGHEST opening CL and I got that! I also was on pins and needles it would arrive in time to pay for the bedroom set I had on hold! day it arrived I think I stalked my mail person and activated in car on way to store... full line charged! remainder elsewhere... fast forward back then for rebuilding they were BOMB, it quickly grew to up around $1600 or so I think I had and then yes back in that day even First Premier didn't do that shizz... it went from whatever VERY reasonable APR (I want to say 11%?) I got a letter saying the program was changing and I could accept the new APR of 32% or close and pay the balance off and upon talking to someone I think in tears (if I only knew then! LOL) how this lady could be so cold and mean to me... After over 2 years and really just like 1 week earlier gave me a CLI my like 5th or 6th i feel like so actually maybe line was higher then $1600 because they usually gave 200-300 i think... anway me "Seems like you don't care about me as a cardholder at all and are just forcing me to close the account?" lady "So are you asking me to close the account?!" Type of response... I was devisated... good thing I have therapy tomorrow, this has brought up a lot of emotions from back then and the treatment I received!!!

Re: I must be moving up in the world! (Merrick Bank)

Anonymous — Wed, 10 Oct 2012 22:03:13 GMT

LOL, Creditaddict, don't have a breakdown over this card. It's just a lowly gutter-dwelling, scum-sucking card that isn't worth it. It doesn't benefit me, but it doesn't harm me, either, which is the only reason I've kept that ugly (literally!) thing in my wallet all these years. Be glad you've moved on to bigger and better things and hold your head up high! (Good luck at your therapy session.)