Merrick Bank Personal Loan

[Anonymous]

Has anyone gotten a Merrick Bank Personal Loan denial letter in the mail after being approved for a Merrick Credit Card? 

I didn't know they did peraonal loans. My credit card was $1000 with promises to double after 6 months or so. Is it possible to recon the loan denial? 

[DaveInAZ]

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@Anonymous wrote:

Has anyone gotten a Merrick Bank Personal Loan denial letter in the mail after being approved for a Merrick Credit Card? 

I didn't know they did peraonal loans. My credit card was $1000 with promises to double after 6 months or so. Is it possible to recon the loan denial? 

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I highly doubt it. It's been several years but when I called them once to ask for a lower interest rate and credit limit increase I could tell that the rep was reading from a script: "Customers are not allowed to request an interest rate decrease or a credit limit increase". I doubt if they've changed their ways, they target those rebuilding their credit and maintain strict control so you don't get carried away. 

And I doubt that a Personal Loan from Merrick would have very good times, look elsewhere. Do you have a Credit Karma account? CK is pretty good at showing you potential terms & approval odds. And congrats on you Merrick CC approval, they were great for me when I was rebuilding my credit.  

[Anonymous]

Yea I tried that too just in case it was possible for the credit card lol. I figured it couldn't hurt right? They sounded like they were reading from a script that time too.

As for this personal loan,  I am not even sure how or where it came from. I never applied for it. I didn't know Merrick did them. I wonder if they automatically apply for a loan at the same time. I used credit Karma to get the Merrick card. Every personal loan I was offered from Credit Karma got denied or it was a secured loan so I never applied. 

Thanks I am excited to try Merrick's card. They started me out at a decent credit line. Considering I still have a $10,000 charge off from capital one on my credit smh. 

[OmarGB9]

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@DaveInAZ wrote:

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@Anonymous wrote:

Has anyone gotten a Merrick Bank Personal Loan denial letter in the mail after being approved for a Merrick Credit Card? 

I didn't know they did peraonal loans. My credit card was $1000 with promises to double after 6 months or so. Is it possible to recon the loan denial? 

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I highly doubt it. It's been several years but when I called them once to ask for a lower interest rate and credit limit increase I could tell that the rep was reading from a script: "Customers are not allowed to request an interest rate decrease or a credit limit increase". I doubt if they've changed their ways, they target those rebuilding their credit and maintain strict control so you don't get carried away. 

And I doubt that a Personal Loan from Merrick would have very good times, look elsewhere. Do you have a Credit Karma account? CK is pretty good at showing you potential terms & approval odds. And congrats on you Merrick CC approval, they were great for me when I was rebuilding my credit.  

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No, their "offers" and "approval odds" are purely marketing and don't actually reflect true odds.