Merrick Bank Double your line

[SunriseEarth]

I got mine last May with a $600 CL.   A hair before 7 months, it doubled to $1200 and has stayed there ever since.   The card has been SDed for quite some time now, so I think Merrick is content leaving my CL right where it is.   I will likely close the CC at the 2 year mark, possibly earlier, if I feel like pruning while in the Garden.  This card and my QS1 are the last of my rebuilder cards left.   I mainly keep it as an emergency VISA, but my CU Visa has replaced that spot in the wallet.   The TU08 Bank Enhanced score is handy, but not of much use to me with the Wally TU08 standard score.  

[sarux3]

I think it's a decent card to help with util if you're rebuilding.  I know it's helped out with my credit profile over the year I've had it, and it's kinda nice to have a practically-guaranteed 2X CLI.  Plus if you don't have a Discover, the monthly TU08 score is pretty great to have... when it decides to update, that is.

[Turbobuick]

Several years ago, Merrick Bank absorbed my First Card account that was 9K CL and interest was 6.15%. They sent a letter that they took over the acct and were installing an annual fee. I was calling to cancel and they said it was a mistake and my account would continue as it was. I asked for a CLI and was denied. It hurt my feelings. lol Many of my cards have 20K+ limits. Again, this was like 8 years ago. My CR Age of account says, Merrick 1994, but they took over much later, but the card has been 9K since 1994!

So I still have the Merrick card with 6.15% and 9K CL. It came in handy recently as the dog has rung up about 7K in unexpected vet bills. Now I'm carrying a balance for the first time in 10 years. Thanks Merrick Bank!  

[TiggerDat]

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@Anonymous wrote:

I thought merric was a non-graduating secured card?

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The secured card will never graduate.  I had it for nearly six years.  I begged, pleaded, reasoned, pointed out the better cards I had, it didn't matter to them.  They never invited me for an unsecure card, but they did treat me well.  When I used the card they gave increases pretty regularly, but just wouldn't give back the darn deposit.  I warned them for at least a year that I would close the card if they didn't waive the fee and give me the deposit back.  I did it in a very nice and polite manner.  I even emailed a VP of the bank that I had a contact for.  Nope, nada, nothing.  She did get back to me saying that at the time it was not possible but the policies might change in the future.  So over a year ago I sent them an ulimatum.  They gave me the deposit and closed the card instead of keeping the business.  At the time I was rotating a balance for my sister, so they were makng interest.  I guess they thought that no money was better than some money.

Interesting enough, my sister filed bankruptcy about a year ago.  They sent her an offer for a card.  She kept disputing a charge on the card.  For some reason they just never filed the paperwork for it, for 4 months.  I don't know the truth of the matter, just what my sister tells me.  Well last month they closed her card, with an outstanding balance and 4 late payments.  I have read bad things about them and good things about them.  I also know my sister very well.  I also know that if I had a dispute over a charge, I would be calling them every day until I got something in the mail confirming it. 

My feelings about Merrick are great!  They gave me a secured card with a low interest rate.  The AF wasn't too bad.  The customer service was almost always good for me.  The website was adequate, no frills, but functional and easy to use.  The two problems I ever had with them weren't handled by CSRs, which was unforrtunate, but were handled none-the-less.  It did take perseverence on my part.  If they would have unsecured the card I would still have it.  It might be in the sock drawer, but I would have it.  If they had some rewards options, then I would probably have less cards than I do and would use theirs out of devotion.  I am a firm believer they are a fair bank and that most people who have issues with them are actually not telling the full story, just their side or not going far enough to insure the problem gets properly taken care of. 

If they ever introduce a good rewards card that competes with some of the cards I have now, then I will certainly apply!  Because of their CLI policy and good customer service, I think they have a real opportunity to overtake CapOne in the subprime market.  I actually hope to see them grow and become a major player in credit cards.

[ltspongebob]

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@Turbobuick wrote:

Several years ago, Merrick Bank absorbed my First Card account that was 9K CL and interest was 6.15%. They sent a letter that they took over the acct and were installing an annual fee. I was calling to cancel and they said it was a mistake and my account would continue as it was. I asked for a CLI and was denied. It hurt my feelings. lol Many of my cards have 20K+ limits. Again, this was like 8 years ago. My CR Age of account says, Merrick 1994, but they took over much later, but the card has been 9K since 1994!

So I still have the Merrick card with 6.15% and 9K CL. It came in handy recently as the dog has rung up about 7K in unexpected vet bills. Now I'm carrying a balance for the first time in 10 years. Thanks Merrick Bank!  

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Almost the same thing happened to me.  Merrick took over my Geico CC.  The sent a letter saying there would be an annual fee.  I called them and they proactively said that the letter was in error.  I currently have the same $6.5k limit that the Geico had.  Never bothered to ask for a CLI; I assumed that since their primary market is the re-builders that they would deny it as it was higher than their norm anyway.  I have barely used it in 3 years but they haven't closed it on me yet.  To be honest I wouldn't care if they did;  I've moved on to bigger and better.

Sponge

[Turbobuick]

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@ltspongebob wrote:

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@Turbobuick wrote:

Several years ago, Merrick Bank absorbed my First Card account that was 9K CL and interest was 6.15%. They sent a letter that they took over the acct and were installing an annual fee. I was calling to cancel and they said it was a mistake and my account would continue as it was. I asked for a CLI and was denied. It hurt my feelings. lol Many of my cards have 20K+ limits. Again, this was like 8 years ago. My CR Age of account says, Merrick 1994, but they took over much later, but the card has been 9K since 1994!

So I still have the Merrick card with 6.15% and 9K CL. It came in handy recently as the dog has rung up about 7K in unexpected vet bills. Now I'm carrying a balance for the first time in 10 years. Thanks Merrick Bank!  

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Almost the same thing happened to me.  Merrick took over my Geico CC.  The sent a letter saying there would be an annual fee.  I called them and they proactively said that the letter was in error.  I currently have the same $6.5k limit that the Geico had.  Never bothered to ask for a CLI; I assumed that since their primary market is the re-builders that they would deny it as it was higher than their norm anyway.  I have barely used it in 3 years but they haven't closed it on me yet.  To be honest I wouldn't care if they did;  I've moved on to bigger and better.

Sponge

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I'm surprised they kept my acct open for the last few years as I haven't used it. Hard to beat 6% without a HELIOC, but the latter has tax incentives too. Hopefully the card will be zero again in 12-18 months. Still nice to have relatively cheap money available in these days of rewards cards with exorbitant interest rates.

[Kenny]

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@TRC_WA wrote:

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@KennyRS wrote:
I got this mailer this week! lol preapproved for 1500... uhmmmm no thanks!

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I got one in the mail today.  Pre-selected for the Double Your Line Visa... $900 CL that will double to $1,800 after I make my first 7 payments.

No Annual Fee

No Account Set up Fee

No Monthly Service Fee

No Penalty Rates

No Over Limit fee

Free FICO

I'm curious... have they changed their ways because I know I've read somewhere that they charged ridiculous fees in the past.  This seems like a decent deal to pad the UTI... the problem is though I don't need the card.

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I had the same terms. I would think it would be a great card if you were rebuilding to get. I wish my sister would have gotten this version of the Merrick than the option she chose. If you have multiple cards like you do -- there's absolutely no reason to get it. Withstand the test of time and you will have much larger CLs than this.. no need to pad with bad batting. (So to speak!)

[TRC_WA]

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@KennyRS wrote:

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I had the same terms. I would think it would be a great card if you were rebuilding to get. I wish my sister would have gotten this version of the Merrick than the option she chose. If you have multiple cards like you do -- there's absolutely no reason to get it. Withstand the test of time and you will have much larger CLs than this.. no need to pad with bad batting. (So to speak!)

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Agreed... last new CC was Dec 2013... I'm on a roll wih this gardening thing.  

[Anonymous]

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@waters wrote:

from their website, they have both a secured product and an invite-only product:

"In order to apply for a Merrick Bank Visa credit card, you must have received an invitation to apply from Merrick Bank. If you have received an offer with an Acceptance Certificate Number and would like to apply for the credit card described in your offer,"

invite-only means if ur credit is very bad like me.. not like black card invite =)

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