MERRICK BANK - VISA Unfair Annual Fee of $90 beginning in Dec 2009 Internet

Thank your Congress.

I too am a customer of Merrick Bank. I have had a ZERO balance on my card since May 2009. In December I received a bill for $5.00, I knew I had a ZERO balance so I phoned them about it and they explained that it was a monthly card holder fee. So I paid the fee on December 17 and closed the account. I received another bill December 21 for $5.00 the January card holder fee. I promptly phoned Merrick again and they stated it was the November fee. No I explained the statement plainly states ANN FEE 1/10 THROUGH 01/10. I explained to them that since the account was closed on December 17 that I am NOT going to pay the January FEE.

hi, just an fyi, i have a merrick bank account that is about 5yrs old. I've had no problems and i have paid it in FULL every month without any late payments ever! Still, i just received a notice that my annual fee will go from 0 to 48.00 per year. so dont be so hard on the above contributor who was late on his payments. they are charging anyway, regardless of your payment history. best regards, D

You got the card with no annual fee, but you also got the card under the agreement that you would make your payments ON-TIME.  Not almost every time..but EVERYTIME.  Since you were late not once, but twice they probably have determined that you are a higher risk.  Higher risk = Higher fees.

But, they did cancel any usage of my card without my permission and want me to call them about it.

- This has got to be one of the classic lines of all times.  They do not need YOUR permission to restrict the card, because it is NOT your money.  They are granting the privilege of using THEIR money, and as such they can withdraw that privilege at any time.  They actually gave you a second chance.  Because a lot of credit card companies are closing out credit cards if the account holder is late only one time.

They are correct about your credit report.  Unless you are 30 days late you will be reported as current to the credit bureaus.