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Interesting that the First Bank & Trust out of Brookings, South Dakota owns the rights to the Mercury MasterCard. They have a five star rating by Bauer FInancial which is the highest rating there is. Appears that they are contracting out the Credit Card Operations to the Card Services in Columbus GA. First Bank & Trust offers their own Visa Gold Rewards and Visa Signature Rewards Cards under their own bank name with Aprs 14.24% to 24.24%. They have been expanding their banking activities into other states and it appears they are privately held by a family that started them back in the 1800's.
Suspected they were buying the lower quality profiles from Barclay's but, in reading this thread and looking at their background, it may be a solid family bank expanding into a larger credit card role.
https://www.prweb.com/releases/2018/05/prweb15489746.htm says that Mercury is aiming to serve the 575-675 score section.
Not clear that the replacement card offers rewards.
I got the same letter this morning. Can confirm no lates, no high utilization. It seems barclay has dumped the entire card portfolio.
@longtimelurker wrote:https://www.prweb.com/releases/2018/05/prweb15489746.htm says that Mercury is aiming to serve the 575-675 score section.
Not clear that the replacement card offers rewards.
When you look back at Barclays ... my recall was that the Barclay Rewards MasterCard was for the lower credit score range as set forth in the posting. Fits and MyFicoer's can bask in the knowledge they were in the lower end of the credit scale. How many MyFicoer's have moved up the credit scale and really outgrown the credit range of the new Mercury MasterCard? In reading and observing on this forum ... many!
@Anonymous wrote:Interesting that the First Bank & Trust out of Brookings, South Dakota owns the rights to the Mercury MasterCard. They have a five star rating by Bauer FInancial which is the highest rating there is. .
Yes, but the rating is about the banks financial stability rather than anything else (and is thus perhaps more critical to people with deposit accounts rather than a credit card!)