I've had a Merrick Bank card for a few years and they've bumped the limit up a couple of times on their own. No problems at all. Recently, I asked for an increase and they sent me a letter saying that they're not raising anyone's limits right now. They specifically said they didn't pull my credit and that the lack of increase isn't the fault of any negative credit in my file. They're just not raising anybody's limits at this time. What gives?
I had the same thing with them - and also that they are not considering lowering APR's either. Funny thing is that I recently got approved for the Hooters MC which is also issued by them at the same CL that I have on the Merrick Visa, and at 15% as compared to the 22% on the Visa. I also read somewhere that Merrick is selling out accounts to CompuCredit - the same company that took over Providian's sub-prime accounts when they decided to get out of that market. So that may have something to do with it as well.
Merrick is getting increasingly prime. I suspect they're moving to the high-subprime low-prime market based on some of the CLs they've been giving out on Hooter's and Geico. Even though CompuCredit is known for deep subprime accounts (e.g. Aspire), the card I have through Tribute has no annual fee, etc. Hella bad interest rate, but not a bad CL (for me at this time). Probably won't grow with me, but it'll help util.
