Mercury Rewards Visa Siggy Pre Approved? Thoughts, experiences?

[youngandcreditwrthy]

Hi all, 

so my scores are in the 670s, and as soon as C1 updates my balance (they always take longer when you pay down a lot of your balance!) I'm sure itll pop up over 680 across.

So What are the consensus on this Mercy Visa Siggy cards? Because it's a Visa Siggy, I remember when the min starting line was $5,000 for visa signature cards. Is that still the case? Their website indicates its invite-only as well as that there is a difference between Platinum and Signature, but the reviews online are scant, and not great.

thoughts? Is this another useless rebuilder card or should I just skip it and wait it out. I have some prime cards and just got approved for three or four new cards recently, most of which are not reporting. I have several inquiries falling off and have paid my util down for 30% to 15% but it isn't reporting yet.

is the mercury Rewards Visa Siggy a good card? I don't want anything that is useless (this is only 1x points on all purchase) and at this point in my rebuild, I don't want to accept anything less than 2000/3000 unless it has potential to grow A LOT and will remain useful. I'm replacing Merrick and Mission lane at some point in the next 6-9 months. 

Let me know thoughts on this card. I'm pre approved and it's invite only! 

[GZG]

would help if you updated your signature 

with mercury, their cards all have different terms/limits/reward structures, so no way to know without seeing the terms of what you were offered

but I highly doubt they are handing out $5k credit lines, you can have a visa signature without the $5k minimum (the chase prime visa can be a $500 visa signature)

$100 amazon gc sub is tempting, at least that's what I see 

[dfwxjer]

Pay down your debt and use the cards you already have in your wallet. Adding subprime cards just to increase credit lines isn't the best route to higher limit prime cards. Don't repeat the behavior that leads to overextending yourself. The short term dopamine hit of getting another approval will bite you in the butt sooner than later when you're at lol/24 new accounts that aren't worthwhile. 

If you're hovering in the 15-30% utilization rate with your current cards and have a 670 score, I would advise cutting back on everything to pay that debt off over the next several months. Your score will increase by dropping your utilization, your aaoa will increase, your payment history will increase, and you won't incur any more hard inquiries. 6 months of this behavior will increase your score significantly, and with some patience you will be able to get in to prime cards with the CL you're looking for. 

Unless your credit goal is to accumulate a stack of subprime cards with $2-3000 limits, then by all means apply for this one. 

[youngandcreditwrthy]

@GZG yeah my siggy is so out of date. like ten years maybe 12 out of date. I cant remember how to update it. 

so then this card is more of a rebuild card and Visa Siggy's aren't what they once were. Like I know the WEMC requires like 85k in min income (which still isn't much tbh... not where I am at least)

thanks for the input. Ill avoid this card . i started my rebuild in 2023 and many of those inquiries are due to fall off as well as the  student loan lates from around the pandemic, so I think my score will jump up just with inquiries falling off, lower util, and aging of account. my aaoa is still like 9 years with oldest account like 17 years. Lucky Ive only had to rebuild just this once. Been easier this time around. 

its super easy for me to get co branded Visa/MC store cards but not the Citi, Chase, etc prime cards, and I'm not sure why. but I'm doing everything right and i remember how to build so I'm sure ill get there.

[Tdatb64]

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@youngandcreditwrthy wrote:

@GZG yeah my siggy is so out of date. like ten years maybe 12 out of date. I cant remember how to update it. 

so then this card is more of a rebuild card and Visa Siggy's aren't what they once were. Like I know the WEMC requires like 85k in min income (which still isn't much tbh... not where I am at least)

thanks for the input. Ill avoid this card . i started my rebuild in 2023 and many of those inquiries are due to fall off as well as the  student loan lates from around the pandemic, so I think my score will jump up just with inquiries falling off, lower util, and aging of account. my aaoa is still like 9 years with oldest account like 17 years. Lucky Ive only had to rebuild just this once. Been easier this time around. 

its super easy for me to get co branded Visa/MC store cards but not the Citi, Chase, etc prime cards, and I'm not sure why. but I'm doing everything right and i remember how to build so I'm sure ill get there.

---

Both of my $3G Cap1 cards, (Quicksilver & Savor,) are WEMCs and my income is just over $21G. Quicksilver was upgraded to that level after about a year, while the Savor, (which started at $500,) was one from the get-go.

I've read several accounts of $3G Visa Signature cards in these fora and I'm pretty sure some of them were Mercury cards. They've sent me many mailers for up to $4G cards and IIRC one of them was a Visa Signature but I never bit. Consensus is they're a good rebuilder and some ppl keep them for years for padding but they're nothing special.

[longtimelurker]

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@Tdatb64 wrote:

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@youngandcreditwrthy wrote:

@GZG yeah my siggy is so out of date. like ten years maybe 12 out of date. I cant remember how to update it. 

so then this card is more of a rebuild card and Visa Siggy's aren't what they once were. Like I know the WEMC requires like 85k in min income (which still isn't much tbh... not where I am at least)

thanks for the input. Ill avoid this card . i started my rebuild in 2023 and many of those inquiries are due to fall off as well as the  student loan lates from around the pandemic, so I think my score will jump up just with inquiries falling off, lower util, and aging of account. my aaoa is still like 9 years with oldest account like 17 years. Lucky Ive only had to rebuild just this once. Been easier this time around. 

its super easy for me to get co branded Visa/MC store cards but not the Citi, Chase, etc prime cards, and I'm not sure why. but I'm doing everything right and i remember how to build so I'm sure ill get there.

---

Both of my $3G Cap1 cards, (Quicksilver & Savor,) are WEMCs and my income is just over $21G. Quicksilver was upgraded to that level after about a year, while the Savor, (which started at $500,) was one from the get-go.

I've read several accounts of $3G Visa Signature cards in these fora and I'm pretty sure some of them were Mercury cards. They've sent me many mailers for up to $4G cards and IIRC one of them was a Visa Signature but I never bit. Consensus is they're a good rebuilder and some ppl keep them for years for padding but they're nothing special.

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Yes, there is certainly no general rule that WEMC requires $85K.   A particular issuer might but I don't think that's true of any of the "major" ones.   There are $500 Visa Sigs and there are probably similarly low limits for WEMC.   And you can get high limit standard cards as well.

[markhs777]

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@youngandcreditwrthy wrote:

Hi all, 

so my scores are in the 670s, and as soon as C1 updates my balance (they always take longer when you pay down a lot of your balance!) I'm sure itll pop up over 680 across.

So What are the consensus on this Mercy Visa Siggy cards? Because it's a Visa Siggy, I remember when the min starting line was $5,000 for visa signature cards. Is that still the case? Their website indicates its invite-only as well as that there is a difference between Platinum and Signature, but the reviews online are scant, and not great.

thoughts? Is this another useless rebuilder card or should I just skip it and wait it out. I have some prime cards and just got approved for three or four new cards recently, most of which are not reporting. I have several inquiries falling off and have paid my util down for 30% to 15% but it isn't reporting yet.

is the mercury Rewards Visa Siggy a good card? I don't want anything that is useless (this is only 1x points on all purchase) and at this point in my rebuild, I don't want to accept anything less than 2000/3000 unless it has potential to grow A LOT and will remain useful. I'm replacing Merrick and Mission lane at some point in the next 6-9 months. 

Let me know thoughts on this card. I'm pre approved and it's invite only! 

---

You asked if it is a good card. By all accounts the answer is no. That being said it may be a useful card for you. Only you can decide if it would help you in the short and long term.

[Jeffster1]

@youngandcreditwrthy Personally, I think this is a good card for rebuilders. However, you are back in prime territory, and past the point where you would need it, IMHO.

I got the Mercury Rewards card about 4 months after my DC. It was a good card for that phase of my rebuild. The thing I liked best about it was that Mercury didn't treat me like I was subprime. It also enabled me to completely say"No way" to the ick of Credit One. I cancelled my Mercury card about 14 months later. It had served its purpose. I had already gotten a couple of Amexes; my BofA CCR had graduated; etc.

For whatever it was worth, I asked the rep who closed my Mercury account for me to note in my record that I was NOT closing out of dissatisfaction.

It's a decent card but you have better options now. "Good" is a relative term. It can be a "good" card but not "good" for you.