I am LOL’ing at this. Some people have given some great advice on here about how to use the card. When you have bad credit people take advantage. It is what it is. I just accepted the “No Hidden Fee” offer and after having read the reviews I am expecting to see one after the first year. I intend to use it until my credit score goes up and then get a better card with a normal interest rate and close the Merrick account. You also have to keep in mind that the loudest people are the ones complaining. Folks who are not having “issues” don’t write review very often. They have nothing to complain about.
By: M. Stanley
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By: M. Stanley
I think people are completely oblivious debt to limit ratio. You should never charge up the credit card. The increase in credit amount only serves to better your score. YOU SHOULD NOT USE IT!!
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By: nick
I got a Merrick Credit card (unsecured) in June of 2014. In August I rented a car from Hertz. I had a guaranteed rate of $219 for the week and had the card for two weeks. I was billed $1007. After spending much time on the phone with Hertz, I filed a dispute with Merrick. After 17 letters back and forth and 3 months, Merrick removed the disputed amount, but put it back on 2 months later after Hertz complained. I told Merrick I had not authorized any amount above the $219 for the two weeks ($438) but Merrick didn’t care. Then anfter many more letters Merrick credited my account, but once again after 2 months put it back on. I asked Merrick what could I do, they said to sue them. So I did. and as soon as Merrick was served. They closed my account. I would warn anyone else not to do business with Merrick Bank.
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By: C F in S C
I have read a lot of bad mouthing of Merrick and maybe my time just hasn’t come yet but I too have less than desirable credit when I got my card offer … It was for $1,000. I took them up. That was Jan 2013. Here’s what I did:
1. Elected in Auto Pay Minimum
2. Paid off WHEN I COULD at random times; some months, just the minimum others ½ others all
3. I only have contacted them when absolutely necessary; ie., I’d call company I was about to dispute first and if I couldn’t reach a resolution I’d call an explain that … in most cases the ‘charging company’ would issue refund but when I needed them, Merrick handled it.
4. I HAVE NEVER ONCE EVER BEEN LATE!!!! EVER … Not even a MINUTE LATE on at least the MINIMUM and with the damage my EX did to my credit it was amazing I got a card at all.
Someone mentioned early they suspect the $200.00 increase is all they can give at a time and I think they are right and they tend to give it like every 4 to 5 months or so. Anyway, my $1,000 is not $2,000.
I also periodically send them “extra cash” to pay it off and sometimes keep them paid off for 2-3 months at a time.
Do I like them? Love/Hate I guess you could say. I have never had a complaint against them and the fact that I have $2,000 I like. But they offer no benefits like say my Capital One Credit Card that I use for paying my Cell Phone Bill and any Car rentals (because they provide same insurance AT NO EXTRA COST as the Rental companies (Hertz, Avis, National). BUT, Capital One has not increased my credit with them hardly at all and I pay them off EVERY MONTH …
Me
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By: JAN
I got a Merrick card several years ago and my interest rate was at 11.45% I have never missed a payment, never been over my credit limit, I pay on time and usually pay more than their minimum required monthly payment. My credit is good and I was irate when I noticed they had raised my rate to 19.45% I called and went through a variety of different people , all who told me they couldn’t do a thing for me. So now I am stuck with this rate until I pay them off. If you are considering opening an account with them RUN IN THE OPPOSITE DIRECTION as quickly as possible. There are too many honest cards you can get to mess with a company that’s sole purpose is to rip you off .
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By: alvaro saucedo
Sorry but this is the best credit card I ever had, and I also have cap 1 and others
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By: 827
GOOD! Merrick Bank helped me to rebuild my credit after the financial turmoil of 2007-08. Until then, I had a Visa from a well-known bank with a $12,000 limit. From 2010 to 2012, all I had was a card with a $1,100 limit from a different major bank. Then Merrick’s offer came in the mail for an unsecured card with a $750 limit. I got the card. After about six months of paying the balance each month, they increased my credit to $1,500. In that mail at that time, I would receive offers for secured cards! Merrick increased my limit to $2,100. Merrick gives you free access to view your FICO score. I’ve watched mine go up from around 600 to 827! In 2014, I received a rewards Visa from a major federal credit union with a $3,400 limit. I stopped using the non-rewards Merrick Visa and the non-rewards $1,100 Visa. In 2015, one of the two big banks that started charge cards issued a rewards card to me that paid $100 cash for spending $500 in the first 90 days. Then I got a rewards American Express charge card. I pay everything off each month, just like prior to the financial crisis. I am living a mostly subsistence lifestyle, and have been unemployed since 2007. You don’t need high income to have a credit score of 827 or great cards. Merrick Bank has helped me to climb out of a big hole.
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By: Katie
They are associated with ABC Financial who also have a very poor reputation, especially with multiple gyms across the USA. Avoid them, unless you want to suffer months of harassment, being overcharged and just getting a lawyer in the end. Sad but true.
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By: DEDAVIS
HOW DO YOU GET A UNSECURED OFFER?
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By: chrissy
I agree!!! I got an unsecured card from Merrick Bank in December 2014 and I’ve been paying more than the minimum payment and on time! Three times including this past Friday, I’ve paid either the balance in full or paid a lump sum amount of the balance and they’ve held my funds for 5 days! Each time I call and ask for an explanation, they state “it’s because I pay amounts so randomly” is why they hold the funds. It’s BS!! What’s the purpose of managing your money and your credit if you’re penalized from paying it OFF! Thanks for listening :0)
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By: Andrew
I just sent my $200 to merrick bank via western union for a secured card from merrick. I will give you all updates from start to finish as to how it goes. Sent my money on Thursday the 28th of May 2015. Today is the 30th and so far the money has not been picked up. So the first tip I have is, if your going to send in your secured card deposit via western union, ( which is one of the options given by Merrick) Dont bother paying the $12 person to person fee to western union for the money to be available immediately. Since Merrick it seems does not check for the deposit money every day. Pay a lower next day fee to western union, and save few bucks.
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By: tenra
I received a Merrick invitation back in 2006.I never applied for this and had very good credit.The APR was very low,can’t remember how low,but was a good APR. I didn’t believe much in credit cards (always paid cash) and there was no annual fee. I have paid this card off 4 times,totaling over 12,000.00. I have been an excellent customer, I can’t remember when they started charging annual fee of $80.00 and about three years they went to APR 22 %,then last year APR 25 %. I had not used the card in about a year, Against my better judgement,I used it again,called and asked them to decrease the APR, they said “No”, so I cancelled Merrick out and paid it off in full again ($1,985.26 as of May 2015.) The rep asked if I was sure I wanted to cancel out my card and I said ” Yes I do!”
I should of got rid of them along time ago. Over the years I did get Capital One and I still have a APR of 10.99 after all these years and have never had to pay an annual fee. So if anyone was to ask me, I would say “Look before you leap” with Merrick.
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By: ComingBack
I got a Merrick Card with an offer of $1,250 that doubled to $2,500 after a few months. Had no problems using and paying off multiple times. You MUST be aware though of something that caused me a major issue. Every card I’ve had previously spelled out the CASH ADVANCE limit. Merrick has the “Cash Advance” limit on my card online as the same as the credit limit, $2,500. But I went to a bank today to access $1,000 to make a quick purchase that needed to be cash. It was denied even though online at that moment it said my cash advance limit was $1,900+. I called Merrick and the CSR simply said, “You have a limit of $500 a day for cash advance.” I asked how I could possibly know that. I asked them to please point to the documentation anywhere, online or the paragraph in the card holder agreement they sent me. They could not even after talking with the manager. They instead pointed to a paragraph that said they could “change anything at anytime at their sole discretion.” Not only was I embarrassed that the card was declined at the bank, I lost out on a deal that was very costly. Be aware that Merrick can “CHANGE ANYTHING AT ANYTIME”. I think you saw that with the issue of annual billings starting without notice. I would stay clear of possible.
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By: Harry Broker
Yes, also me, received a great pre approved Merrick Bank VISA, also with $600.00 limit, and double it, after 7 months of on time payments to $1200. $ 75.00 annual fee, and of course a nice high interest rate of 29.90%.They encouraged me to apply on line, save them a stamp on their pre paid envelope, I use to return my regrets! Well, I chose the envelope instead, use a red marker with the Big letters of VOID on its application, returned it in their pre paid envelope to return, with my personal message. Come on you Guys, you can do better? I carry the American Express Card…… What an Insult! Same i did with Blaze Mastercard, the hidden card behind the major rip off of First Premier Master Card, also use their pre paid envelope to send them my concern. I believe, that is what that prepaid envelope was for? Rating? Minus 0, below freezing mark, lol!
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By: Stino
Merrick bank will nickel and dime you to death.
I called to report a compromised card. I had an unauthorized charge on another card. Well, I was informed by the customer rep. That I would be charged $15 dollar fee for a replacement card. Since the card had not been “compromised yet.” Shame on you merrickbank!
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By: robcrazee
Hello 827, sorry to bother u about this but i saw ur post and I also have an unsecured Merrick card that i’ve had for about 6 months and i think i’ve made my 6TH ON-TIME payment.I was wondering WHEN u actually received the DOUBLE INCREASE? Did u just check ur account online at some point after the 6th-7th month? Or did u receive an EMAIL or some form of notice that it went up? Would be greatful to u on a response at ur convienence! THANKS IN ADVANCE!
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By: Karen Walker
All that glitters isn’t gold. I am very disappointed in Merrick Bank. As a loyal customer for some time, I consistently paid my entire bill on time each month. I was surprised to see my credit limit increased because I didn’t request such, but as always continued to pay my entire bill to ensure that the balance was low going into the next month. Instead of being rewarded for being a good customer, Merrick Bank decided to punish me. After Merrick Bank received (posted and processed) the electronic payment transfer of funds from my bank and posted it to my account, they applied only half of the amount paid to my available credit and put an unnecessary hold on the remaining amount of my limit (over $700!), which they planned to keep in place for 7 days. It was not enough that Merrick had the funds already, but the rude robotic customer service reps and supervisor insisted that my bank needed to fax “proof” of my personal bank account balance to Merrick Bank showing my balance before the credit payment and after. What in the world?!! My personal bank account information is none of their business; they received full payment. Another annoying aspect is that the reps kept saying, “You made such a large payment. The hold is set up to protect you.” Really? I am not Boo-boo, the fool. The ridiculousness of it pushed me to close my account. If Merrick Bank doesn’t trust me as a loyal customer in spite of my excellent payment history with them, then we are best parting ways. There are too many other companies out there with better rates and service to deal with these robots. I prefer American Express and Capital One.
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By: Disappointed
I agree that Merrick Bank is the worst credit card you can get by invitation. Yes, they will nickel and dime you to death and they don’t seem to want to establish a long-term relationship with you as the customer. For instance….I paid with my Merrick Card a loan payment. Had I known what the consequences would be afterwards, I would have used my own debit card.The bank that I paid processed the payment as a cash advance, therefore, Merrick Bank charged $10 for the fee and is now charging me a percentage interest charge called a “cash advance” interest fee that they would not even waive since the transaction wasn’t a cash advance. If a bank can’t help the customer out, you don’t need the services….that’s what they are there to do, serve the public. Well they have taken all of my monies for the last time. I am paying off this balance and I am done with Merrick Bank! As long as I have a balance, i will be assessed the fee for the cash advance that never took place. I would definitely read the small print much closer people before you accept this card, even if you are desperate for one. If you have fair credit or poor credit, if the invitation comes in the mail….shred it quickly. Don’t get stuck with this card, it’s “greedy!”
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By: The Detroit A.I.
My experience with Merrick has been very good, but from what I’ve read here, I think that there are two keys to having a mutually beneficial relationship with this bank.
1) Set up an autopay for the minimum amount. This ensures that you’ll avoid the myriad of sneaky fees that their system will otherwise impose AND keep your FICO score moving in the right direction. Merrick is very, very good about reporting current accounts to all three agencies, so your score will improve very quickly if you stay on their good side, which brings me to my second observation about this bank:
2) Know when it’s time to let go. If you play by the rules and stay current with Merrick, your FICO score will reward you. . . but Merrick simply will not. At that point, all you can do is go elsewhere. There’s no “Merrick Gold.” There’s no “Merrick Ultimate Rewards.” There’s no Merrick cash-back program, and the sky will rain blue ocelots before there’s a “Merrick Concierge”. That’s not their fault, and it shouldn’t be taken personally. That’s just not the market they’re set up for.
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By: Kristi
I applied to Merrick Bank from their invitation. I was approved with a $1,000 limit. With regular, on-time payments my credit scores have vastly improved from 530 to 750 with a FICA of over 750. My Merrick credit limit is now $4,000. BUT- with an almost 30% interest rate, I would rather say “no”. Paid the card off and am closing it forthwith. Have major credit cards now: Chase, Discover, Amex, Barclay, Wells Fargo.
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