I’ve been a member for over a year and a half as of 1.29.13. Yes, the interest rates are high but with my credit, I had to pick someone. I’ve been with Continental Finance for over 3 years and they were always raising the annual fee (installments monthly). I started out with $300 (plus activation/set-up fee)credit limit and closed my account in good standards with a credit limit of $720. Not once did Continental Finance charge me over the limit fee or late fee(s). The interest fee started with $10 a month (2007) and shot up to $18 (2010). As for the credit increase, they charged $25 for a $75 increase (every six months). Before they use to give you $100. The interest rate (19.92%) was less than what I have now with Merrick Bank (25.45%). If they would have shifted my credit to there gold card, I would have gotten a lower interest (about 9.92%), but I would have had to cancel my credit card and sign up again and start all over again with a $300 limit (plus activation/set-up fee). It made no sense and I even called and complained to them about that, they didn’t really care nor sympathetic. In other words, they are in it for the money period! They didn’t even care about how excellent my credit history with them was. What I’ve learned from both credit cards is that you have to know their game and try hard not to fall into there high fee(s)game. With Merrick, I’ve kept my spending low and never had a over the limit fee, late fee, and/or other fee(s). Within the last six months of writing this, Merrick has given me two (2) credit limit increase. I really don’t know what there technique are as in giving, but I’m happy they did without charging. I did call them once to see if I could get a credit increase and they basically gave there speech on policy. Bottom line, I know I don’t have the best credit score and if that means that I have to go with someone who charges a high interest, I just make sure not to go over the limit and use the card for important items. I burn and learn. Just because you get credit doesn’t mean that you have to max out the limit. I’ve been there, done that. Both credit card companies have been good to me and I never had any serious issues and/or hidden fees. EVERYBODY deserves another chance in life, sometimes you just have to bare with it and eventually everything will pan out. Remember folks, those credit companies with high interest rates never forced you to sign up in the first place. You have the right to not sign up. My goal is to wait and move on to another credit company with less interest fee and more reputable. To the best of my knowledge, Merrick is not a bank. I don’t know how they can get away with saying that. At least Continental Finance is a bank, the bank is called Bank of Delaware. Merrick is a company based out of Jordan, UT. I’m not knocking them, they have been great to me. It just haunts me sometimes because they are not really reputable. Who knows, with more people like me and my good credit methods, they just might grow into a reputable company/bank. I don’t work nor know of any person(s) at Continental Finance or Merrick bank. I am speaking from my own and no one has paid me and/or compensated me in any way to write this article. There is hope for you folks. As long as you pay the minimum (or more) and keep you balance low, in time you’re credit score will shoot up and you can apply for a lower interest rate card.
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