Merrick Bank Double Your Line Pre-Approval mail offer. Yay or nay? (2024)

@Shooting-For-800wrote:

If you only have 1 major credit card and your starting limit was $1250, I would think twice.

If you have a code to input, I would be very suprised if you were not approved.

6 months later you would have a real $2500 card with no fees.

Maybe.... I did have a code to input but it's since beenshredded within the mess of papers here I needed to get rid of. Did have a mission lane offer that I got rid of as well due to a AF.

Twice reading about Cap1 and AMEX having strong Pre-Quals here and was denied for both.

Honestly, I want a CLI on the WF CashWise vs another no rewards credit card since i'm putting everything on that besides Target. Applying and getting denials and pushing my INQs may prevent a CLI.

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@Anonymouswrote:

@Shooting-For-800wrote:

If you only have 1 major credit card and your starting limit was $1250, I would think twice.

If you have a code to input, I would be very suprised if you were not approved.

6 months later you would have a real $2500 card with no fees.

Maybe.... I did have a code to input but it's since beenshredded within the mess of papers here I needed to get rid of. Did have a mission lane offer that I got rid of as well due to a AF.

Twice reading about Cap1 and AMEX having strong Pre-Quals here and was denied for both.

Honestly, I want a CLI on the WF CashWise vs another no rewards credit card since i'm putting everything on that besides Target. Applying and getting denials and pushing my INQs may prevent a CLI.

Except you were denied for low income, something that isn't known until you actually submit an app.

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@Anonymouswrote:

@Anonymouswrote:

@Shooting-For-800wrote:

If you only have 1 major credit card and your starting limit was $1250, I would think twice.

If you have a code to input, I would be very suprised if you were not approved.

6 months later you would have a real $2500 card with no fees.

Maybe.... I did have a code to input but it's since beenshredded within the mess of papers here I needed to get rid of. Did have a mission lane offer that I got rid of as well due to a AF.

Twice reading about Cap1 and AMEX having strong Pre-Quals here and was denied for both.

Honestly, I want a CLI on the WF CashWise vs another no rewards credit card since i'm putting everything on that besides Target. Applying and getting denials and pushing my INQs may prevent a CLI.

Except you were denied for low income, something that isn't known until you actually submit an app.

Cap1 never mentioned income being an issue. They said my credit history was too short in so many words. AMEX is the only one that has mentioned income in writing.

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They will resend the invatation.

Apply for it. All these folks didnt come out to defend a lemon card. They all, including myself, have no complaints about Merrick.

If you gotta pull cash, pull it from here. CA's from Wells, Disco, Amex..... red flag. no joy! Merrick is usually 100% cash advailable up to your CL. Pay it off, they will love you even more.

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@Anonymouswrote:

@Anonymouswrote:

@Anonymouswrote:

@Shooting-For-800wrote:

If you only have 1 major credit card and your starting limit was $1250, I would think twice.

If you have a code to input, I would be very suprised if you were not approved.

6 months later you would have a real $2500 card with no fees.

Maybe.... I did have a code to input but it's since beenshredded within the mess of papers here I needed to get rid of. Did have a mission lane offer that I got rid of as well due to a AF.

Twice reading about Cap1 and AMEX having strong Pre-Quals here and was denied for both.

Honestly, I want a CLI on the WF CashWise vs another no rewards credit card since i'm putting everything on that besides Target. Applying and getting denials and pushing my INQs may prevent a CLI.

Except you were denied for low income, something that isn't known until you actually submit an app.

Cap1 never mentioned income being an issue. They said my credit history was too short in so many words. AMEX is the only one that has mentioned income in writing.

https://onlineoffer.merrickbank.com

Merrick Bank is a solid non-prime bank and great for rebuilding. When I lost my job in 2011 my credit went to pot (in the low 500 range). In 2013, with numerous charge-offs on my report, I received a mailer from Merrick and was approved with an $800 sl. Since it was the only card I had, I used it and paid it in full monthly. In 3 years, the cl had been increased numerous times to $3,200. A year later, I was approved for a Capital One card. Both helped me rebuild by credit to where it is today along with help from everyone here. Since then, I have been able to close Merrick and acquire prime credit cards.

FICO 8 EX 784 TU 786 EQ 786
FICO 9 EX 780
AMEX - Platinum, BCP, Delta Platinum, Simply Cash Plus, Blue Business Cash (Business)
Barclay - Arrival Plus, AAdvantage Aviator
Capital One - Venture, Sparks (Business)
Chase - FU, CSP
Citi - Premier, PLOC
Discover It Miles
TD Cash Visa
US Bank Altitude Reserve
Wells Fargo Propel AMEX
PNC Points Visa
FNBO Evergreen Visa

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IMHO, I would caution you as per your recent cascade of denials. Even marrick has limits to credit seeking behavior. I forgot your HP count.

That said, Merrick is a decent Bank for people in your situation They're even a great bank for people who truly need someone to start out with, and have rocky credit. And in my experience they offer CLI's quite often. So I think it would be a mistake to turn your nose up at them, or feel you're past what they could offer you.Especially given your situation ATM. If you're truly going into the garden for 1-2 years, you could end this year with one more HP and take a chance.

It's totally your call, but I feel dismissing them out of some misplaced idea would be wrong.

@Anonymouswrote:

IMHO, I would caution you as per your recent cascade of denials. Even marrick has limits to credit seeking behavior. I forgot your HP count.

That said, Merrick is a decent Bank for people in your situation They're even a great bank for people who truly need someone to start out with, and have rocky credit. And in my experience they offer CLI's quite often. So I think it would be a mistake to turn your nose up at them, or feel you're past what they could offer you.Especially given your situation ATM. If you're truly going into the garden for 1-2 years, you could end this year with one more HP and take a chance.

It's totally your call, but I feel dismissing them out of some misplaced idea would be wrong.

3 Tu 2 Eq 2 Ex. Honestly puhsing Tu to 4 seems like a bad idea and may put a WF CLI injeopardy. IIRC they are inqsensitive. I wouldn't use the card very much tho. Just the bare min to keep it afloat and push everything to the WF card as i'm doing now.

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@Anonymouswrote:

@Anonymouswrote:

@Anonymouswrote:

@Anonymouswrote:

@Shooting-For-800wrote:

If you only have 1 major credit card and your starting limit was $1250, I would think twice.

If you have a code to input, I would be very suprised if you were not approved.

6 months later you would have a real $2500 card with no fees.

Maybe.... I did have a code to input but it's since beenshredded within the mess of papers here I needed to get rid of. Did have a mission lane offer that I got rid of as well due to a AF.

Twice reading about Cap1 and AMEX having strong Pre-Quals here and was denied for both.

Honestly, I want a CLI on the WF CashWise vs another no rewards credit card since i'm putting everything on that besides Target. Applying and getting denials and pushing my INQs may prevent a CLI.

Except you were denied for low income, something that isn't known until you actually submit an app.

Cap1 never mentioned income being an issue. They said my credit history was too short in so many words. AMEX is the only one that has mentioned income in writing.

Right but you assumed that your income was a problem for Capital One too so it probably was. Reasons for denial are not always THE reason, just A reason.

Merrick has a prequal website. I would go check it and see if you can pull up your offer.

https://onlineoffer.merrickbank.com

It's possible tho it was never mentioned in writing so it seems wrong to assume. At least tho I know AMEX is a dead end for now but still have a chance with Cap1 down the road. That is if Income wasn't an issue for them but I don't know.

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Sorry to hear you tore it up.

i had the exact same offer7+ years ago when i was rebuilding. They are true to their word and will doulbe your limit.

I grew it to $4k+ since and with no AF, i keep it open ( $50 purchase/year)

More than likely, you would have been approved (they are usually pretty accurate with their mailings)