Merrick Bank

[Ortz33__]

i also read the "merrick bank is currently under scrutiny, for illegal practices" and did a search and didn't find anything.  i am curious as well, what is your source for this???  

[Elated]

Hi Baybee,

I don't have anything bad to say about Merrick Bank. I have had my card for approximately 6 years now, and have received numerous CLI's. I am very happy with them, hopefully you will be too!

[IantoJones]

I received an offer in the mail, got one of those "we'll let you know in 20d" messages, so I was sure I'd been declined.

Then today, their CustSvc called me to verify my identity, and then said she'd be sending out my $1000-CLI card in 7-10d !

This with an a low FICO of 598, high in the mid 650's, and several recent TLs opened.

So, I'm thrilled (it's for a 0-annual-fee, relatively low interest card) !

All the best to all of you.

[Ortz33__]

was this the hooters card or regular?

[redwalker2929]

I had a horrible time with merick bank.  My only advice is to pay your bill well before its due.  If you default for any reason....your done and they will do horrible things including lying and cheating.  Be careful and you will have no issues.

[improvingmycredit]

Hello! I have a Merrick card. It was one of my starter cards. I have had no problems with this card or Merrick Bank. Personally- it was a great starter card for me and I appreciated the chance when few were there with an annual fee free card. Pay your bills on time and you will have no problems. Hope this helps!

[Anonymous]

I have a Merrick's card also and haven't had any issues with them.  However, I think I'll probably be cancelling the card because of the $36 AF, even though they bill it monthly - I really don't use it.  Has anyone had luck getting them to waive the fee permanently?

[ChesterPDexter]

I've never tried to have it waived, but what's weird is that everyone's fee seems to be different.  Originally I had no fee with that card.  At some point they started charging $1 per month.  That's right, just a dollar, and if I have no activity they don't charge it.  I feel bad for you that they're charging you 3 times that; you could tell them that "a friend" is only charged $1 per month, so why are they charging you more?  In my experience, though, that line of conversation always goes exactly nowhere, since they'll act mystified about anyone else's account or the reasons behind the terms on someone else's account. 

Oh yes, and my Merrick card is at about 33% interest.  Is anyone else's that high?  I'm sure it didn't start that high, and I don't remember doing anything wrong.  Geez, that card is old - I think I've had it since '04 or '03.  When I called to ask about the ratejack they acted similarly mystified so I just gave up trying to understand Merrick Bank.

I have had no problems with the card, though, and they raised it from the original $1,000 or so to $3,300.  Sorry if I posted twice in this thread.  I'm too lazy to read back and check.

[IantoJones]

In reply to the question above (Regular or Hooters?) -- Regular "Merrick", but unsecured, no annual fee, setup fee, or maintenance fee, and 17% interest (which for someone just over a year post-Ch7 BK, isn't bad at all... most others are in the 20-something percent range...

Here's a link from the Merrick Bank site directly, which both lists their overall ranges, and allows their account holders to check their individual terms (with an online response available - unlike many prime lenders) :

https://www.merrickbank.com/Legal/Agreements.aspx

And here's a link to a doc with just the pricing:

http://www.mbdot.com/docs-repository/merrick-bank/Merrick-Unsecured-Pricing.pdf

(I got these from doing a Google search to find their homepage, then clicking Site Map to find the pages above) .

Thanks,

Ianto Jones

[Anonymous]

THEIR WEBSITE IS SET UP VERY GOOD. IT TELLS U EVERYTHING U NEED TO KNOW-PRETTY MUCH. OVERALL WHAT I HAVE READ ABOUT MERRICK BANK HAS BEEN PRETTY GOOD. ALL CUSTOMER SERVICE CENTERS ARE PRETTY MUCH LOW RATED . BUT THE CARD OVER ALL, I THINK IS PRETTY MUCH UP FRONT, INTEREST KIND OF STEEP BUT AVOID THAT - CHARGE WHAT U CAN AFFORD AND PAY IT ALL OFF WHEN OUR BILL IS DUE. IM PLEASED WITH MY LIMIT AND THEIR ON LINE SERVICE !  THEIR ON LINE SERVICE IS FAR BETTER THAN CAPITAL ONE AND SO ARE THEIR INITIAL CREDIT LIMITS APPOSED TO CAPITAL ONE. AT LEAST FOR ME THIS HOLDS TRUE.