Question regarding Merrick bank pre-selected Approved Credit Line...

[PhillyGuy]

Good morning everyone,

The other day I received a Merrick Bank Pre-selected Approved Credit Line for $1100 with the double your credit line in 7 months to $2200 with on time payments.

Terms: No annual fee, no account setup fees, no monthly service fee, no penalty rates, no over limit fee and free FICO score monthly. Interest rate 23.45%, which I really don't care about since I will be paying it off every month or keeping a super low balance.

I have looked around on here and haven't really seen anything negative about them.

Does this mean they have looked at my credit reports already and decided I am a good risk?
Anyone have any comments regarding Merrick, good or bad?
Should I wait and just apply to Capital One when I am ready? I really wanted a Venture card for travel points.

Currently my scores range between 629 and 708, I own my home and car, and between a store card and being an AU on another, the credit limit is over $11,000.

Any info would be helpful.

PG

[skyblue69]

Hi Philly,
Received the same offer a couple months ago. Accepted online, instant approval. From everything I've read, if your credit circumstances haven't changed since they sent the offer out, it's likely you will be approved. They did do a hard credit inquiry pull from TransUnion when I applied.

[ace300s]

Merrick was my first credit card offer 6 months out of BK7. I have had no problem with them in almost two years now. I went paperless and pay my bill online.

Another nice thing about Merrick is you get a free fico score with them. It updates the score about every month or so...