Does anyone have a Merrick Bank Visa? If so how is the company? Do they raise APRs for no reason?

Question

If you had to do it over would you sign up with them?

re: the 1st reply.. actually some companies just raise them because they can. Like Providian and Juniper

Answer 1

Juny is definitely getting weird lately. It's almost like they are trying to get into the Guinness Book of World Records for quirky behavior.
You spend to much, you don't spend enough. You leave a balace by making payments, you pay in full. You have a cat and not a dog, you have a dog and not a cat.

Not to long ago, BofA went through a mini quirky spree - but they seemed to have leveled out lately.

As for Merrick, generally so far they are staying pretty steady on not suddenly raising APR's, lowering credit limits or closing accounts - for any odd reason or for no apparent reason

With that said, it doesn't mean that Merrick "does not" raise APR's, lower credit limits or close accounts - an occassional person may run up against that with them. It just isn't happening on a wide scale basis right now.

edited to add
Yes I do have a Hooters card through Merrick (I like the looks on peoples faces when they see it lol)
That card has been a pretty good card, steady credit limit increases, fairly good rewards - free chicken wings/meals, etc.
The card can be a good card - no annual fee, low interest
Or it can be a sub card - annual fee, high interest.

(and in the mean time I keep an eye on my Juny to see if they rate jack me or closed it because I planted shrubs in my yard instead of trees this year lol)

Answer 2

Yes, I have (had) a Merrick Bank card. They are one of the worst cards you can have. I told them to cancel my card and quit making payments to them on $7000 + of debt. Actually, I eliminated just over $124,445 in total credit card debt that I had last year.

Merrick and all credit card companies can raise their rate(s) to as high as 31% any time they want. Usually they will raise their rate when you are late on a payment with any of your creditors. As soon as a late payment is reported against you by any creditor whether it is valid or not credit card companies can raise their rates.

The only cards that don't raise rates to 30% plus are cards issued by Credit Unions.

If you want to find out how to eliminate credit card debt and stop getting screwed by credit card companies then get a copy of the free report that is available at the following site:
go to: http://www.InstantDebtEliminator.com

Answer 3

I don't have one, but usually they get raised based on the prime rate as listed by the government or the New York Times.