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

[Anonymous]

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? 

[Shooting-For-800]

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!

[Anonymous]

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.

[Anonymous]

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@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.

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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. 

[Anonymous]

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

[Anonymous]

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.

[Anonymous]

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

[Anonymous]

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.

[Anonymous]

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@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.

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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. 

[Shooting-For-800]

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.