Merrick Bank Visa App or nah?

[Anonymous]

 I just got an offer in the mail for Merrick Visa Double Credit line offer. SL $700 with an increase to $1400 after 7 months. $36 annual fee. I'm wondering if it's worth it to apply. I just applied for Barclay Apple Rewards Visa last week and was instantly approved for $2k. Cap 1 Credit steps completed last week at $750. I also have a Jcrew $1000, and Overstock $1000. 2 INQ across all reports. FICO scores in signature.  No love on other prequalify sites like chase, citi, amex. etc. (discover IT is questionable). I have a closed Navy federal card I'm paying on from years ago. 

Is it worth it to apply or should I garden?

[jdxprs1]

It's an ok card. But seems to me you should be looking to do better.

[Anonymous]

I'd go with nah.  Build what you have and take it from there in 6-12 months.

[Anonymous]

I'd say nah. Cap1 can always PC to no AF and can grow quick in the beginning. You could get something better than Merrick in a few months

[Anonymous]

You got enough to build, so think of it like this, don't app for anything you won't want in a couple years. 

[AverageJoesCredit]

Nah

[Anonymous]

Thanks everyone. I'm trashing the Merrick Bank offer.  

[SouthJamaica]

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@Anonymous wrote:

 I just got an offer in the mail for Merrick Visa Double Credit line offer. SL $700 with an increase to $1400 after 7 months. $36 annual fee. I'm wondering if it's worth it to apply. I just applied for Barclay Apple Rewards Visa last week and was instantly approved for $2k. Cap 1 Credit steps completed last week at $750. I also have a Jcrew $1000, and Overstock $1000. 2 INQ across all reports. FICO scores in signature.  No love on other prequalify sites like chase, citi, amex. etc. (discover IT is questionable). I have a closed Navy federal card I'm paying on from years ago. 

Is it worth it to apply or should I garden?

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No it isn't. It would be a step down for you at this point. Just tend to your present cards.

[joltdude]

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@Anonymous wrote:

 I just got an offer in the mail for Merrick Visa Double Credit line offer. SL $700 with an increase to $1400 after 7 months. $36 annual fee. I'm wondering if it's worth it to apply. I just applied for Barclay Apple Rewards Visa last week and was instantly approved for $2k. Cap 1 Credit steps completed last week at $750. I also have a Jcrew $1000, and Overstock $1000. 2 INQ across all reports. FICO scores in signature.  No love on other prequalify sites like chase, citi, amex. etc. (discover IT is questionable). I have a closed Navy federal card I'm paying on from years ago. 

Is it worth it to apply or should I garden?

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I'd let this offer pass you by...

That said...

Do you still have an open account with Navy? (Yes i know the card account is closed) ....Navy is not known for being forgiving.. but theres been a few posters who have mentioned paying them back fully and able to get some products from them... I'm very curious about this... And it might be an avenue to explore during your rebuilding..... consider getting that paid off.....

-J

[Anonymous]

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@joltdude wrote:

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@Anonymous wrote:

 I just got an offer in the mail for Merrick Visa Double Credit line offer. SL $700 with an increase to $1400 after 7 months. $36 annual fee. I'm wondering if it's worth it to apply. I just applied for Barclay Apple Rewards Visa last week and was instantly approved for $2k. Cap 1 Credit steps completed last week at $750. I also have a Jcrew $1000, and Overstock $1000. 2 INQ across all reports. FICO scores in signature.  No love on other prequalify sites like chase, citi, amex. etc. (discover IT is questionable). I have a closed Navy federal card I'm paying on from years ago. 

Is it worth it to apply or should I garden?

---

I'd let this offer pass you by...

That said...

Do you still have an open account with Navy? (Yes i know the card account is closed) ....Navy is not known for being forgiving.. but theres been a few posters who have mentioned paying them back fully and able to get some products from them... I'm very curious about this... And it might be an avenue to explore during your rebuilding..... consider getting that paid off.....

-J

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Hey There. Yes, Navy Federal is my primary bank. Direct Deposit, paid off 5 yr car loan with no lates. Paid off secured loan with no lates. The Credit Card was a Joint Account that I refused to be responsible for because they weren't my charges and I no longer talk to the joint owner. We live and we learn. In the end, I'm making minimum payments, no lates ever reported on the card. I haven't tried to app for a New Credit Account because of it.