Need Your Opinion On Merrick Bank

[tbolt2]

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@Anonymous wrote:

For those in this thread that have the card-- how long did it take you to get the card?  I need to start Christmas shopping ASAP! lol

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You should get the card about ten days after the approval.

[improvingmycredit]

Hello All!  I started my rebuilding with this card and too read all kinds of horrible things about them.  Not only them, but GE- Amex- Chase- Citi - and every credit card company out there.  To this day I see Citi bashed on this forum daily.  .   With a little research and really reading the complaints, you will see that a vast majority of the complains are derived from individuals that have in some way or another done something they shouldn't have with their accounts. ie... Late payments- over the limit- ect ect...  My point is, you are only seeing one side of the story.  Merrick is a  sub prime lender like Credit One - Cap One- First Pemier... I've had them all in my credit rebuilding and that's for real.  Merrick was by far the best of them all.  (First Premier the worst) No consumer initiated CLIs but they are good about auto.  Their starting CL for me was by far higher then any other rebuilder that I had at the time.  I like them.  If you are rebuilding, I do recommend them before Credit One- FP.  Good luck on your credit journey.  Unfortunately there really aren't any good cards labeled rebuilder.  But it is where most of us have to start to prove our credit worth.

[bluewillow]

I had a pre approval for this card back when I was rebuilding after BK. Started with a $900 CL and within a few years my CL was/is $5000. Card is sock drawer now and I should cancel it but out of all the rebuilder cards they treated me best. Every 6 months or so when I logged in to see my statement I saw my CL was increased and usually a letter arrived informing me also. Paid on line every month and never had an issue with them holding my payments. Unlike Cap One which I had for 10 years @ $500 CL and when I cancelled it last month it was still @ $500 CL. Merrick is the only rebuilder I still have open. 

IMO as far as rebuilder cards go you could do a lot worse. Most rebuilders have high APR's  and account fees.

[Anonymous]

all good....had unauthorized charge...they removed quicly.......doubled my credit line in 5 months......wonderful folks

[WolfMan]

If you do paperless statements, you get a free FICO score monthly.
Mine has no fee. The free score is the only reason I keep it around. I use it rarely, but enough to keep it active.

[charyot77]

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@WolfMan wrote:
If you do paperless statements, you get a free FICO score monthly.
Mine has no fee. The free score is the only reason I keep it around. I use it rarely, but enough to keep it active.

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I'm in the same boat. I was approved for the Merrick Hooters Credit Card (RIP).

It had a high APR and a low $300 limit, but no annual fee so I keep it around. I really only used it when I wanted to shock people with the fact that a Hooters credit card existed....but now that Hooters is no longer involved, it's just a plain, grey credit card that stays in the drawer.

I've never gotten a credit limit increase, but that's because I do my spending mostly on other cards. Once this card starts charging an annual fee it's gone. ('ve heard of Merrick card holders that went from no-fee to annual fee credit cards at Merrick's discrection.

[Deltadog03]

I just got approved for a $500 double your limit in 7 months deal with them last Saturday. I am pretty lucky and there are no fees and I will always PIF. I have heard it reports on CR pretty quickly and my card should be here next week.