- Report: #132587
Report - Rebuttal - Arbitrate
Complaint Review: Merrick Bank Corp. Credit Dept.
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.
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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