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Merrick Bank

3.4 out of 5 stars
63 Reviews

From Account Holders in the last year

ADDITIONAL RATINGS YOU MIGHT FIND HELPFUL

Application Process

4.5 out of 5 stars

Customer Service

3.5 out of 5 stars

3.5 5
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Most Helpful Positive Review

Feb 26, 2016
High APR but GREAT card for rebuilding
CreditBuilder87 Account Holder

Got this card when I first started to use CK. I think I had a score in the low 600's at the time and was approved for $600. After 6months of ontime payments it jumped to $1200. I have had this card for a full year as of last month but I havent gotten a second increase yet so im just waiting. The APR is high so NEVER let your balance transfer into the next month unless its an emergency. Overall I would highly recomend this card to anyone who is trying to rebuild their credit. Since opening CK I have a score above 700 and started with one below 600. So it CAN BE DONE, dont give up. Also CK might say your chances are good but just remember thats an ESTIMATE based on other people. You always want to go to the cards website directly in order to see if they have a pre qualification process so it does not hurt your credit score. 

Cheers!!

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Most Helpful Negative Review

Apr 04, 2016
Keeps their promise
strawmellow Account Holder

I applied for this card under the premise that they would double my credit line after 7 months of on-time payments. I was skeptical, but saw a lot of positive reviews that claimed the company did in fact stay true to their word. I waited 7 months before posting this review as I wanted to make sure it happened. Guess what? It did! I started off with a $700 unsecured credit line, and just shy of 2 weeks after the 7-month mark hit my credit line was doubled. I didn't even use the card for about 3 months, which I thought might affect my eligibility.

The high interest rate makes it not as appealing of a card to some, but as somebody who is rebuilding credit and often only gets approved for very low amounts of credit this is a pretty good card to have on hand for emergences.

However, one last word of advice is not to lose the card. I thought I lost my card and requested a new one, which was happily sent out if I agreed to a $15 replacement fee. Not happy about that, particularly because I found my card the next week (go figure).

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These reviews were written by current and former account holders in the last year.

Jan 17, 2017
Didn't honor credit limit increase
Chimi7 Account Holder

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.

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Jan 17, 2017
Great!!
Anonymous Account Holder

Merrick bank was true to they word. they increased me from $700 to $1400 in exactly 6 months, when I received my email I was excited..If your wondering about a great card please accept the offer if you ever receive one from them

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Jan 08, 2017
Consistent
Anonymous Account Holder

I have not had any major issues or concerns, customer was good!

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Jan 08, 2017
grubby, unethical bank
planetjul Account Holder

I had to call customer service a month ago to change the amount of my automatic payments (on their website the only options you can set up are either minimum amount or full balance, and I wanted about three times the minimum amount). The rep assured me (and I asked twice) that the new automatic payment schedule will be effective as of January.

Come January, and guess what? They didn't debit the payment. So I call customer service to find out what's up, and the rep tells me the new payments will start in February. Meanwhile, mind you, they already charged me a late fee, for something I was never informed of.

At least I was able to get that late fee reversed, but seriously. It will take me about 10 more months to pay off my balance in full, and then thankfully I will no longer have to deal with this dishonest and unprofessional bank.

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Dec 01, 2016
They make good on their word!
JTG1234 Account Holder

Have had Merrick for 18 months now. The few issues I had were of my own misdoings and they showed concern and were willing to work with me, in a way that didn't reflect my standing with them. I received the line increase after the first 6mo and then another one about a year after that. I try not to max the card out unless I know I can pay it back entirely within 90 days. I've taken cash advances out with no issues and their fees for that are very reasonable. Keep your balances paid each month, don't be late, don't wait to pay the bill 2-days before it's due (For the life of me, I don't understand why people do that.) If you don't have the money, idk, a logical thing to do would be don't use the card. If you get a card that has an annual fee, and you're trying to reuild credit, it's dire to keep the account open for at-least 2 years. If in the process you get another card that has 3x higher limit, it's still more benefical to keep the Merrick card, just don't use it or use it and pay the balance in full like every 2-weeks. You can see how having a balance vs not having a balance will drastically change your Fico score by the month. I know I'm spoon feeding this but it's important for people to know and understand. If you have a card with a $1,000 limit and your score is 550, maxing that card out will drop your score by 30+ points, the minute you pay it down to zero and it's reported, your score will jump again, that fast. Just because Credit Karma updates every 7 days doesn't mean your creditors do. Some are every month and some are every other month. Once you know when to expect your creditor to report, you are better off having your balance at or near zero during this time. I really thought people understood credit but I'm seeing now that most people with bad credit, still don't seem to know how to get it back in order, once they do get a card such as Merrick Bank. When you ace this process, you end up going from a $500 limit with one bank to over $6,000 combined limits with just a few banks, in just a year or so. It works, it worked for me and in the process I had a voluntary repo. It was unfortunate but I made sure to keep my revolving credit in good standing during this ordeal. One late payment on revolving credit can hurt your score for at-least 9 consecutive months.

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Dec 01, 2016
They make good on their word!
JTG1234 Account Holder

Have had Merrick for 18 months now. The few issues I had were of my own misdoings and they showed concern and were willing to work with me, in a way that didn't reflect my standing with them. I received the line increase after the first 6mo and then another one about a year after that. I try not to max the card out unless I know I can pay it back entirely within 90 days. I've taken cash advances out with no issues and their fees for that are very reasonable. Keep your balances paid each month, don't be late, don't wait to pay the bill 2-days before it's due (For the life of me, I don't understand why people do that.) If you don't have the money, idk, a logical thing to do would be don't use the card. If you get a card that has an annual fee, and you're trying to reuild credit, it's dire to keep the account open for at-least 2 years. If in the process you get another card that has 3x higher limit, it's still more benefical to keep the Merrick card, just don't use it or use it and pay the balance in full like every 2-weeks. You can see how having a balance vs not having a balance will drastically change your Fico score by the month. I know I'm spoon feeding this but it's important for people to know and understand. If you have a card with a $1,000 limit and your score is 550, maxing that card out will drop your score by 30+ points, the minute you pay it down to zero and it's reported, your score will jump again, that fast. Just because Credit Karma updates every 7 days doesn't mean your creditors do. Some are every month and some are every other month. Once you know when to expect your creditor to report, you are better off having your balance at or near zero during this time. I really thought people understood credit but I'm seeing now that most people with bad credit, still don't seem to know how to get it back in order, once they do get a card such as Merrick Bank. When you ace this process, you end up going from a $500 limit with one bank to over $6,000 combined limits with just a few banks, in just a year or so. It works, it worked for me and in the process I had a voluntary repo. It was unfortunate but I made sure to keep my revolving credit in good standing during this ordeal. One late payment on revolving credit can hurt your score for at-least 9 consecutive months.

more ...
Dec 01, 2016
They make good on their word!
JTG1234 Account Holder

Have had Merrick for 18 months now. The few issues I had were of my own misdoings and they showed concern and were willing to work with me, in a way that didn't reflect my standing with them. I received the line increase after the first 6mo and then another one about a year after that. I try not to max the card out unless I know I can pay it back entirely within 90 days. I've taken cash advances out with no issues and their fees for that are very reasonable. Keep your balances paid each month, don't be late, don't wait to pay the bill 2-days before it's due (For the life of me, I don't understand why people do that.) If you don't have the money, idk, a logical thing to do would be don't use the card. If you get a card that has an annual fee, and you're trying to reuild credit, it's dire to keep the account open for at-least 2 years. If in the process you get another card that has 3x higher limit, it's still more benefical to keep the Merrick card, just don't use it or use it and pay the balance in full like every 2-weeks. You can see how having a balance vs not having a balance will drastically change your Fico score by the month. I know I'm spoon feeding this but it's important for people to know and understand. If you have a card with a $1,000 limit and your score is 550, maxing that card out will drop your score by 30+ points, the minute you pay it down to zero and it's reported, your score will jump again, that fast. Just because Credit Karma updates every 7 days doesn't mean your creditors do. Some are every month and some are every other month. Once you know when to expect your creditor to report, you are better off having your balance at or near zero during this time. I really thought people understood credit but I'm seeing now that most people with bad credit, still don't seem to know how to get it back in order, once they do get a card such as Merrick Bank. When you ace this process, you end up going from a $500 limit with one bank to over $6,000 combined limits with just a few banks, in just a year or so. It works, it worked for me and in the process I had a voluntary repo. It was unfortunate but I made sure to keep my revolving credit in good standing during this ordeal. One late payment on revolving credit can hurt your score for at-least 9 consecutive months.

more ...
Dec 01, 2016
They make good on their word!
JTG1234 Account Holder

Have had Merrick for 18 months now. The few issues I had were of my own misdoings and they showed concern and were willing to work with me, in a way that didn't reflect my standing with them. I received the line increase after the first 6mo and then another one about a year after that. I try not to max the card out unless I know I can pay it back entirely within 90 days. I've taken cash advances out with no issues and their fees for that are very reasonable. Keep your balances paid each month, don't be late, don't wait to pay the bill 2-days before it's due (For the life of me, I don't understand why people do that.) If you don't have the money, idk, a logical thing to do would be don't use the card. If you get a card that has an annual fee, and you're trying to reuild credit, it's dire to keep the account open for at-least 2 years. If in the process you get another card that has 3x higher limit, it's still more benefical to keep the Merrick card, just don't use it or use it and pay the balance in full like every 2-weeks. You can see how having a balance vs not having a balance will drastically change your Fico score by the month. I know I'm spoon feeding this but it's important for people to know and understand. If you have a card with a $1,000 limit and your score is 550, maxing that card out will drop your score by 30+ points, the minute you pay it down to zero and it's reported, your score will jump again, that fast. Just because Credit Karma updates every 7 days doesn't mean your creditors do. Some are every month and some are every other month. Once you know when to expect your creditor to report, you are better off having your balance at or near zero during this time. I really thought people understood credit but I'm seeing now that most people with bad credit, still don't seem to know how to get it back in order, once they do get a card such as Merrick Bank. When you ace this process, you end up going from a $500 limit with one bank to over $6,000 combined limits with just a few banks, in just a year or so. It works, it worked for me and in the process I had a voluntary repo. It was unfortunate but I made sure to keep my revolving credit in good standing during this ordeal. One late payment on revolving credit can hurt your score for at-least 9 consecutive months.

more ...
Dec 01, 2016
They make good on their word!!
JTG1234 Account Holder

Have had Merrick for 18 months now. The few issues I had were of my own misdoings and they showed concern and were willing to work with me, in a way that didn't reflect my standing with them. I received the line increase after the first 6mo and then another one about a year after that. I try not to max the card out unless I know I can pay it back entirely within 90 days. I've taken cash advances out with no issues and their fees for that are very reasonable. Keep your balances paid each month, don't be late, don't wait to pay the bill 2-days before it's due (For the life of me, I don't understand why people do that.) If you don't have the money, idk, a logical thing to do would be don't use the card. If you get a card that has an annual fee, and you're trying to reuild credit, it's dire to keep the account open for at-least 2 years. If in the process you get another card that has 3x higher limit, it's still more benefical to keep the Merrick card, just don't use it or use it and pay the balance in full like every 2-weeks. You can see how having a balance vs not having a balance will drastically change your Fico score by the month. I know I'm spoon feeding this but it's important for people to know and understand. If you have a card with a $1,000 limit and your score is 550, maxing that card out will drop your score by 30+ points, the minute you pay it down to zero and it's reported, your score will jump again, that fast. Just because Credit Karma updates every 7 days doesn't mean your creditors do. Some are every month and some are every other month. Once you know when to expect your creditor to report, you are better off having your balance at or near zero during this time. I really thought people understood credit but I'm seeing now that most people with bad credit, still don't seem to know how to get it back in order, once they do get a card such as Merrick Bank. When you ace this process, you end up going from a $500 limit with one bank to over $6,000 combined limits with just a few banks, in just a year or so. It works, it worked for me and in the process I had a voluntary repo. It was unfortunate but I made sure to keep my revolving credit in good standing during this ordeal. One late payment on revolving credit can hurt your score for at-least 9 consecutive months.

more ...
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