Merrick Bank - Punch Me Now

[dallasareaguy]

Here I am.... having closed my credit one cards, contenental finance cards, etc. etc... finally in with some PRIME cards such as Amex.... building a healthy new lifestyle... and it happened.... my son brought me the mail today and here is this letter saying I'm approved for $1400 now, $2800 after 7 months of ontime payments.... no setup fee, no annual fee, no fees... 20% interest rate..... and I took it ;-(     .... I have plenty of credit and yet I took it... to sock drawer it.... I have a disease of credit and need help. I don't spend much... but love having it...

[Anonymous]

No Annual Fees----WAY TO GO & major Congrats!!!! 

[NICKI183]

Wow!  Glad to see that even offer no AF!  Congrats on your new sock drawer card.  I am at $1400 with them, hope to continue to increase my limit with them.   Time will tell. 

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@dallasareaguy wrote:

Here I am.... having closed my credit one cards, contenental finance cards, etc. etc... finally in with some PRIME cards such as Amex.... building a healthy new lifestyle... and it happened.... my son brought me the mail today and here is this letter saying I'm approved for $1400 now, $2800 after 7 months of ontime payments.... no setup fee, no annual fee, no fees... 20% interest rate..... and I took it ;-(     .... I have plenty of credit and yet I took it... to sock drawer it.... I have a disease of credit and need help. I don't spend much... but love having it...

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[Siopao]

Congrats!  Nice no AF!

Merrick and Credit One are going to be seeing the chopping block soon as soon as I secure a couple more cards on my wish list.

[Anonymous]

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@dallasareaguy wrote:

Here I am.... having closed my credit one cards, contenental finance cards, etc. etc... finally in with some PRIME cards such as Amex.... building a healthy new lifestyle... and it happened.... my son brought me the mail today and here is this letter saying I'm approved for $1400 now, $2800 after 7 months of ontime payments.... no setup fee, no annual fee, no fees... 20% interest rate..... and I took it ;-(     .... I have plenty of credit and yet I took it... to sock drawer it.... I have a disease of credit and need help. I don't spend much... but love having it...

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Congratulations to you!...Thanks for sharing.

[yoyo]

Congrads i chopped my First Savings Bank...card was at$750 apr of 30%..they lowered it it 23% ..but i still closed it..they didnt even fight to keep me..

[Anonymous]

Congrats!  Merrick was my first card in rebuilding.  They've actually been pretty good to me.  Started at $600, doubled to $1200 after 6 months, then regular CLIs since.  They throw me a few hundred dollars every few months (now up to $2600), so I keep the card around.  Eventually when my AAoA's is better I will consider closing it, but until then, I put a few dollars through it here and there.  

[Anonymous]

Congrats on the approval! 

Merrick has actually treated me well over the years.  I have their standard Visa with no AF and a $2400 limit - it's my oldest active account. APR is in the 20s. This was the only rebuilder card that has given me regular CLIs; it started as a $500 Hooters MasterCard in 2006.

They have always given me CLIs (no more than 1 or 2 per year) when I've carried a revolving balance and make more than the minimum payment. Unfortunately Merrick does not allow customer generated CLIs.

[steelers1]

Here comes your punch!

That's Insane!!!

Find another hobby besides credit. With your growing profile and your new friends (Amex) you have no business carrying a Merrick card.

That have NOTHING to offer you. You have NO gain to attain it.

Now its just another line on your credit report that screams subprime.

[elim]

I wonder why these lenders don't branch out and offer a solid card to better profiles. "Credit One Cash Rewards" or whatever.