Merrick Bank's Double Your Line card prequalifier link

[Anonymous]

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@Anonymous wrote:

No problem!

Hubby got this about 7- months post-BK, not sure of his score at the time but going to guess 620-650, had two CapOne's reporting good from day after discharge.  SL$600.  Doubled his limit on time last month so now $1200.  My understanding that Merrick likes you carrying a balance and will reward that (!), now whether that's a good thing or not, well, we know it isn't.  But still perhaps an important data point for someone.  As far as the mobile borwser, not sure why it wouldn't work, but maybe try from home?

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Thanks, bdh! I just tried from home, and it said they couldn't match me to any offer. Oh well, that is a good thing, since I don't need the temptation right now. 

[Anonymous]

Yes the rate is high but they are a very fair rebuilder.  They are the oldest card yard my wife  has  at 4 years has so she can't cancel.  Her limit is now over $4,000 with them. I like the limit.   They still raise her about 1 year.  It gets used about once a quarter.  Due to its high rate PIF.  The AF she has is $48.  It is the only fee card she has. 

[Anonymous]

Merrick is like King of the '2nd-chance' tier of CCCs

They are no where near great but at the same time, a rebuilder could do much worse...

If Merrick were a 1st and "maybe" a 2nd TL... Just for building purposes AND nothing else were available
It'd be OK to 'think' about it, or a moment.

IMO though in general, I'm not that big a fan of adding the Merricks of the world to profiles that have already gotten themselves off the mat ... Meaning once you have a CC....Why entertain a placeholder anchor type card you know can't be one of your long-term BRIDES?

These type cards IMO are hard luck 'had to' jump-offs and nothing more...

What happens is you get off to a decent start and these bottom feeders, see an up n coming and they show a little leg to get your attention....Next thing you know, you've knocked up a side chick😶

When had you just managed the what you had a little better a little longer....Better offers from better quality lenders would have come along and you'd be happier, with what you wake up to in the morning.

Point being, you will either have to get rid of these types in the future anyway, so why bother or by just playing around with "her" you'll get stuck with her or something like her...

Again, if you're not desperate... I recommend a pass because there is no good long term meaningful relationship available, she can't BE that for you ever, you're just wasting time....

If it were a CU or some institution where the relationship could possibly lead to car loans, home loans, chk-sav accounts, IRAs, refi opportunities, investment accounts etc OK

That could be argued for Cap-1 or Discover or even a small local conservative CU but the Merricks of the world are only good for ONE thing

And if you don't absolutely need it as your 1st...Why bother?

[Anonymous]

This is cool that they set up a link.    I have a card with them that I got back in late 2014.  It doubled to 1500 and I have gotten 1 increase to 1900.  

I can vouch that in my case they liked it when I carried a balance.  That is the only time I have gotten an increase.  I let a balance report for a couple of months.  

Good no AF builder card for me.  I will eventually close it but since it doesn't cost me anything to keep it.  I'll hold onto it a while longer I guess. 

[MrsCHX]

IMO Merrick is far better than First Premier or Credit One. Way better. 

But, if you already have other unsecured cards, don't add Merrick. Work on aging what you have, getting baddies off, and adding more prime cards. 

I got mine with a 620 TU. $700 and $36 annual fee. Doubled to $1400 last April. No change yet. 

[Anonymous]

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@MrsCHX wrote:

IMO Merrick is far better than First Premier or Credit One. Way better. 

But, if you already have other unsecured cards, don't add Merrick. Work on aging what you have, getting baddies off, and adding more prime cards. 

I got mine with a 620 TU. $700 and $36 annual fee. Doubled to $1400 last April. No change yet. 

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+1

This is the main reason I didn't use the first offer I got from Merrick. I already had Cap1, Discover, and the Barclays NFL Extra Points Visa at the time. Plus, when I posted about the offer I received, several members confirmed that it doesn't grow after the double your line CLI unless used heavily.

Link to thread: http://ficoforums.myfico.com/t5/Credit-Cards/Merrick-Bank-Offer-Surprised/td-p/4749872/highlight/tru...

I just couldn't see a valid reason to but, for some weird reason, I still like the idea of this card. Maybe it's just the eye-catching designs in their offers.  

[Anonymous]

Gemini 101:

You are so very, very right, on everything you said!  Thank you, I was inspired to tend the garden I already have planted thanks to the reply.