• Report: #132042

Complaint Review: Merrick Bank Corp. Credit Dept.

  • Submitted: Sat, February 19, 2005
  • Updated: Sat, February 19, 2005

  • Reported By:Jayess Mississippi
Merrick Bank Corp. Credit Dept.
P. O. Box. 5000, Draper, Utah U.S.A.

Merrick Bank Credit Card Credit Dept. ripoff Interest rates have been raised to 30.20% on balances Draper Utah

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I have been with Merrick Bank approximately 1 year, I have never missed a payment, always payed on time, have not defaulted in any way, yet I have been singled out for an interest rate rise from 20.20% to 30.20%. This has to be extortion of the worst kind.

In the begining I did not request this card, I received an invitation through the mail saying I had been pre approved for this card with a $1000 credit limit, 2 months ago they raised the credit limit to $1250.

There is a note in their letter which states I can avoid these new charges by paying off the balance in full and closing the account, both my wife and I are seniors, we exist solely on Social Security, apart from taking out a loan on our house (which is paid for) there is no way I could pay this off out of our monthly Soc. Sec. check

Jayess, Mississippi

This report was posted on Ripoff Report on 02/19/2005 08:25 PM and is a permanent record located here: http://www.ripoffreport.com/r/Merrick-Bank-Corp-Credit-Dept/Draper-Utah-84020-5000/Merrick-Bank-Credit-Card-Credit-Dept-ripoff-Interest-rates-have-been-raised-to-3020-on-132042. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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