Finally Closed My Merrick Bank Credit Card

[Anonymous]

Just before the next period began and the AF hit, I closed my Merrick Bank credit card. It served it's purpose, and I actually haven't put any spend on it for over 2 months.Now I am off to prime pastures (Hopefully)! Now I have to ignore the email invitations from Surge, Indigo, Milestone, etc. and re-enter the garden for a few months.

[AverageJoesCredit]

Great job I'm sure the only one saddened will be Buffy

[Adkins]

Congratulations, OP!

[Anonymous]

Congrats I need to close mine 9 years I’ve had it and seem to cant let go it has no annual fee 🤷🏽‍♀️And been wit me almost a decade ekk.. I may do it after statement cuts $0 this month 😰

[pipeguy]

Congrats on getting rid of the sub-prime dead weigh - makes you wonder why you waited so long 

[Anonymous]

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@Anonymous wrote:
Congrats I need to close mine 9 years I’ve had it and seem to cant let go it has no annual fee 🤷🏽‍♀️And been wit me almost a decade ekk.. I may do it after statement cuts $0 this month 😰

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I haven't had mine too long, but out of all of the sub-primes I've had in my journey, Merrick was definitely the better of them.

[Anonymous]

Just closed mines last week. It served its purpose.

[Anonymous]

Merrick is oldest rebuilder card dw has. It has to be be 4 or 5 years old now. It has a $4K limit. It really needs to go and gets used 1 every  6 months.  They were the nicest subprime card so it stays for that reason. 

[DaveInAZ]

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@Anonymous wrote:

Merrick is oldest rebuilder card dw has. It has to be be 4 or 5 years old now. It has a $4K limit. It really needs to go and gets used 1 every  6 months.  They were the nicest subprime card so it stays for that reason. 

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Yep, my Merrick is my oldest active card, got it 12/2011 after my 2010 BK7. No fees, $3100 CL. It has only gotten my monthly $10.xx Netflix by mail sub for years now, as long as they're happy with that I'll keep it open for old times sake.

[Anonymous]

A question.

Why close it? It has no annual fee and closing would negatively affect your score in several ways. 1) CL decrease -> utilization increase 2) Credit history length decrease (if this was your first card) and 3) not 100% sure on this but i heard if you close cards you get a hit on credit score.

So, why close? I am asking out of genuine curiosity because i have this useless capital one platinum that i never use and i'm wondering if i should let it sit or close.