Merrick Bank

[Anonymous]

Hello!  I received a preapproval from Merrick Bank a few weeks back and didn't think anything of it.  I just checked their pre-qualifier online and saw that their offer is still there.  SL of $700 and double that after their usual period of ontime payments. 

What I don't know is what the AF is.  It just says they charge certain things and the AF is one of them.  Is that something I can call and negotiate down as I've read others here have gotten the same preapproval with zero AF.  What I like about this card is they don't charge a Foreign Transaction Fee which would be nice on our upcoming trip overseas. 

Is this a good card to get?  I only have two actual credit cards now and both are secured; my Discover IT Secured and I'm an AU on my wife's NFCU Secured.  Capital One still won't touch me and it's been nearly a year since we filed.

[Remedios]

Your pre-approval should have Pricing And Terms.
Fees, apr, grace period etc will be listed.

[Medic981]

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@Anonymous wrote:

Hello!  I received a preapproval from Merrick Bank a few weeks back and didn't think anything of it.  I just checked their pre-qualifier online and saw that their offer is still there.  SL of $700 and double that after their usual period of ontime payments. 

What I don't know is what the AF is.  It just says they charge certain things and the AF is one of them.  Is that something I can call and negotiate down as I've read others here have gotten the same preapproval with zero AF.  What I like about this card is they don't charge a Foreign Transaction Fee which would be nice on our upcoming trip overseas. 

Is this a good card to get?  I only have two actual credit cards now and both are secured; my Discover IT Secured and I'm an AU on my wife's NFCU Secured.  Capital One still won't touch me and it's been nearly a year since we filed.

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Merrick Bank issues CCs to consumers with limited, poor and bad credit histories. It is a sub-prime CC. I have never had a CC issued by Merrick Bank, however, if you are considering this card I would read all of the fees and know what the interest rate of the card is. This is a card you use to build credit, not place to purchase and carry a balance. If you do get this card, use it to build credit and then when it has served it purpose cancel it.

How long have you had your Disco card? 

[Anonymous]

My 6th statement is about to cut tomorrow.  On it we charge most of our monthly recurring stuff to it that is set up on auto payment (will add the remaining once the credit line goes up) and the NFCU is our gas bill and our gas card.  Both cards are paid in full each month as to not carry a balance and if I decide to go with Merrick it will be the same.

[Medic981]

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@Anonymous wrote:

My 6th statement is about to cut tomorrow.  On it we charge most of our monthly recurring stuff to it that is set up on auto payment (will add the remaining once the credit line goes up) and the NFCU is our gas bill and our gas card.  Both cards are paid in full each month as to not carry a balance and if I decide to go with Merrick it will be the same.

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I have not read too many negatives about Merrick on the boards. Just stay away from Credit One and Premier First. They are predatory credit cards if you are not careful.

[Sk8gr8]

I got a Merrick Visa about 3 years ago to try and rebuild credit and I really like it. I started with a $750 CL and they've increased it to 3K in that time with on time in full payments. It has an annual fee that they bill each month for $3 and the interest is very high but I pay it off every month in full. I use it for cell phone bill and occasionally gas. They also have a secured card. So much better than Credit One and it has served it's purpose for rebuilding.

[Shadeestill]

I have this card in the no AF flavor in August 2016. Intial SL was $550, doubled in six months. Over the last year, I've been getting a $200 CLI about every other month. As long as there is no AF I'm going to hang on to it to pad utilization until I can dump my subprime cards. I toss a $10 charge on it every few months and then PIF.

[crnbread73]

I have a card with Merrick and they have been good to me.  They gave me a chance when others would not.  They have steadily increased my CL throughout the years.  I have paid off most all of my cards but I have kept them open.  No AF so why not.  The only one I would stay away from when rebuilding is Credit One.  They were horrible to try and close once I no longer needed them.