I received a letter in the mail in April 2016, offering an unsecured VISA card with a $1000 credit limit & stating I would receive an automatic doubling of my credit limit after making 7 on-time payments of at least the minimum amount due. After reading other reviews, I decided to apply & received my card in May 2016 with a $1000 credit limit. I've used my card a lot & I did approach my credit limit, but I've never gone over my limit & I always pay at least the minimum due, on time or early each month & sometimes pay twice a month. My card is in good standing & I just received my 8th statement & still no credit limit increase. After not receiving the credit increase after the 7th statement, I called Merrick & although the rep was nice, she couldn't tell me why I didn't receive the credit limit increase I was promised in my credit card invitation. In fact, she asked me if I had the letter to show that I was told my credit limit would be doubled after 7 on time payments of at least the minimum amount due. I told her I didn't think I would need to save it because I thought they would keep their word & that I likely threw the letter away since I couldn't find it (my mistake). She told me that they don't show me as having received that double your limit offer. I asked the rep if I was doing anything wrong which would preclude me from receiving a credit limit increase & she told me that my account showed they will regularly review for increases as long as I'm eligible, but she wouldn't tell me what I needed to be doing to be considered eligible. As far as I'm concerned, I always pay on time or early & always pay at least if not more than the minimum due & based on the letter that I DID receive, I AM eligible. Overall, this is a good card & I like that it's a VISA because I shop at Costco & Costco only takes VISA or cash. Their online app is adequate, but if I want to view my online statement, I have to use my laptop because the mobile app doesn't allow the viewing of statements. Overall, I'm happy with the card, & the high interest rate is to be expected for any card that is designed to help people build or rebuild credit. The main reason I didn't rate this card above 3 stars is because they didn't keep the promise that led me to apply for their card in the first place & their customer service rep, although friendly, wasn't helpful & couldn't answer my questions.
I had a Merrick credit card was on time with all my payments missed two payments due to a unpaid leave of absence (manged to make a partial payment though). After calling in several times to inform this bank of my situation and numerous representatives not even listening, I got to a rep who set me up on a payment arrangement affordable for me and that was supposed to bring me current. Two payments into the arrangement my account was closed due to missing the two payments (partial payments). This bank is not worth your money or time they don't respect the nature of being a human. Don't mess up ur credit by including them on it.
I know....there are some who give this card a low review score. Fact is.....they most likely were denied credit, even after receiving pre=approval status. That most likely happened due to their FICO score taking a nose dive after Merrick received an initial point average that was safe for them to issue a card. Even people that are doing well in trying to rebuild their credit, hit a wall and maybe fall behind on other credit liabilities. ANYWAY.. I have been rebuilding my credit for the past 18 months. I have never been late with the 6 cards I now have. None are debit cards, or secured. My average line of credit is $1000. Merrick preapproved me at $1200 with a promise to double in 7 months. The APR is lower than even my 2 Capital One cards, and my zChase !! OUTSTANDING !!! Approval online was instantaneous. And ZERO fee's was the benefit that made this card, a NO BRAINER ! Finally, something that sounds too good to be true, and IS FANTASTIC. nO HIDDEN FEE'S OR FINE PRINT. If you receive an offer, don't waste any time in applying. the process is 10 or so questions. All in which the bank already has, and is just veryfying the applicant to make sure it's the same person the offer was addressed to. So...IF YOU HAVE AN OFFER IN HAND, APPLY !!! If you are simply looking at cards in which you want to apply to....and you have 600 to fair or better credit....APPLY !!