Merrick Bank is too funny

[Roxlie]

I had a Ch 7 BK in 2006. I applied for a Merrick card in last year and was approved for a $1000 CL...at 24.45% APR.

I used it a little here and there and carried a small balance on it. At the 6 month mark they raised my limit to $1200. I called and asked if they would lower the APR, they said they don't take customer requests for CLI or lowering the APR.

Okay so fast forward to now. I had a $360 balance that I PIF last week. My statement cut today and I logged in to check it and they gave me another $400 CLI. So now I'm at $1600 with a 24.45% APR.

What a bunch of crap. I'm gonna call them again and ask why they keep raising my CLI but leave the APR the same. I'd use it alot more if it wasn't so high.

[Anonymous]

I wouldn't worry about it. It's good for your utilization, so be glad about the CLI.  Just use them as a PIF card and take their free CLI! That's great.

[cobra19]

Agree with Up.   Merrick is not alone - many banks have tightened up and are doing the same thing. A year ago, Merrick was a tad more generous - but times are a little tough now.

[App_Addict]

Merrick has not given me a CLI  in over a year but they did lower my APR from 24 to 20. i'm stuck at $1250.

[Roxlie]

Yeah I guess that's how I'll have to use them from now on. Also, I was pleased with the CLI increase. They are one of two cards that I have that have given me auto CLI's..which is a good thing!

[Creditaddict]

I had a merrick card after my ch. 7 started at 750, about 2.5 years later i was at 1750cl and they said based on a review of the account they were increasing my interest to 39.99%.

I was like you just gave me cli without asking, how can a review put my account in a risk stage for interest increase. i was told i could pay the card off and cancel it to avoid the increase and interest, so I did.

They gave me 4 increases and then rate jack me for no reason, great customer service!

[Roxlie]

Thanks for the heads up Creditaddict..I will have to keep an eye on that. Although, I don't plan on carrying a balance anymore with them. 25% is a bit too high for me, but I will gladly use it to PIF or just pull it out to buy a slurpee once in awhile. Thanks again!