@DaveInAZ How difficult was it with Credit One? I just reread the agreement. Looks like I overlooked what you caught. It says that one can cancel before activating and not pay anything. Both the Credit One and the Merrick Bank are still in the mail so I'm going to cancel the Credit One as soon as I get it.
Right, if you don't activate it they can't charge you anything. Most credit cards - including Merrick - if you pay your balance in full by the due date you pay no interest, so easy to avoid those high interest rates. But CreditOne gives you no grace period, you are charged interest from the day a charge hits your account, so impossible to avoid their sky high interest in addition to all their fees. Not hard to cancel, the reps are just rude and high pressure to try to talk you out of cancelling.
Yes, congrats to the three amigos! Merrick is certainly one of the better rebuilder cards. Credit One was one of my first offers after my 2010 BK7, and I app'd & was approved, mistaking the Credit One logo for Capital One (I don't why Cap One doesn't go after them, the Credit One logo is clearly intended to look like Cap One). When the card arrived and I looked closer at those terms - 29.xx% APR with no grace period on purchases to avoid interest and all those fees - I said "No! I refuse to do this to myself!". I called them and told them I refuse to activate the card and to close the account, they were quite rude.
Credit One actually had the logo first....
I just checked my Credit One statement and I do not see any sign of interest on it from a purchase as early as 6/23. Not sure if it's different for everyone, but I see no interest and I will be paying my bill in full by 8/18.
So I applied and got approved for their double the limit offer back in February for the $700CL. They charged the annual fee right away, but i never charged anything on the card. I made one payment, and then decided on filing BK in April. The card was the first one to fall completely off my CRs once the BK was filed. Curious if I should try again with them, as my discharge was on monday.
Not too many posts about Merrick geting burned and the timeframe about getting back in. Cap and Disco usually is a year out. Maybe someone has some DP's. I couldnt find anything on it.
So good news. I got the Merrick Bank card and a Credit One. $550 and $400 respectively. And both are unsecured. I was a little surprised. I had thought I would have to go the secured route to start. I had stopped paying my CC bills about 5 to 6 months before I filed so the lates added up. Anyway just waiting for the cards. And off to the races with rebuilding.
Are your lates still showing on your report post DC?
I got my 7 discharge in June. Got the Merrick offer in the mail. I applied and was refused because Merrick was included in my BK.