- Report: #132587
Complaint Review: Merrick Bank Corp. Credit Dept.
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| Merrick Bank Corp. Credit Dept. P. O. Box. 5000
Draper, Utah U.S.A. |
|
Merrick Bank Corp. Credit Dept. ripoff Raise Credit Limits, then dramatically raise interest rates Draper Utah
*Consumer Comment: Merrick Bank Corp. Credit Dept. ripoff Raise Credit Limits, then dramatically raise interest rates Draper Utah"
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They increased my credit limit twice in the past 4 months, yet have listed an eroneous reason on the letter that it had to do with something in my credit report. They should be a bit wiser, I reviewed my credit report on-line immediately and had absolutely no change it since this time last year when applying for a mortgage.
They did this deliberately to have consumers charge their cards over Christmas with increased limits to then increase the interest rates over 50%.
Further more, pay close attention to your credit report with this creditor, my credit report shows inquiries every month since the time I received this credit card. No other creditor has done this on my report. What are they looking for, other than a way to get rich quick. They were established in 1997, does that tell anyone something?
Beware and caution, Oh by the way, I not only closed my account upon receipt of the letter today, I have also reported them to the Federal Trade Commision and paid my account off.
I feel worse for others who may not have the funds to do the same and may be caught in the same predicament as another gentlemen, which story I read posted here.
C
Sacramento, California
U.S.A.
This report was posted on Ripoff Report on 02/23/2005 08:43 PM and is a permanent record located here: http://www.ripoffreport.com/r/Merrick-Bank-Corp-Credit-Dept/Draper-Utah-84020/Merrick-Bank-Corp-Credit-Dept-ripoff-Raise-Credit-Limits-then-dramatically-raise-intere-132587. 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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Merrick Bank Corp. Credit Dept. ripoff Raise Credit Limits, then dramatically raise interest rates Draper Utah"
AUTHOR: Alesia - (U.S.A.)
SUBMITTED: Wednesday, March 23, 2005
I, too, noticed their monthly "monitorings" on my credit reports. However, I discovered they were not the only creditor who did this. I made inquiries to both Merrick Bank and the other creditor doing this as well as consulting with a creditor rights attorney and the explaination was the same across the board.
