Report: #1025545

Complaint Review: Merrick Bank

  • Submitted: Fri, March 08, 2013
  • Updated: Fri, March 08, 2013
  • Reported By: Louie A — Tiverton Rhode Island United States of America
  • Merrick Bank

    Provo, Utah
    United States of America

Show customers why they should trust your business over your competitors...

I've had a Merrick Bank credit card for a few credit line went up to $3300 because I've never been late for a helped my credit rating, which is what is was designed to do, which eventually led to my being able to get more credit cards. I now have some good ones with no annual fees or high interest. Then Merrick cancelled my card because now I have all these cards...these were cards from my bank, and upgrades from store cards I had. I couldn't believe that Merrick just shut me off like that. I spoke to many supervisors and credit agents there, and all they could do is recite that the terms and conditions stated they could do so. I told them I could understand  if I started getting late on payments or missing some, but that never happened. I was always very early and never missed a payment. But they were very unsympathetic towards me. I felt I was being punished for being a good customer. They said that was their policy and there was no chance or reinstatement. I thanked them for their time, and said how said that the humane part of business has gone away. Now it is all about numbers. But my numbers were good, and I couldn't believe they could dismiss me like that after years of good business. Oh well. Guess I can't do anything about it. Anyone else experience this? Thanks for letting me vent!

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#1 Consumer Comment

I am sorry that you had that issue

AUTHOR: RockinRod67 - ()

I have been with Merrick Bank since 2001 when I had to file a health care bill bankrupcy. My wife and I were in an auto accident and our settlement was $120K short of our medical and legal bills. Merrick Bank offered us credit with a low limit but no fees and 24.99% interest. They have always treated us fairly by raising our credit limit and lowering our interest rate down to 14.99%. I even had my card stolen and used fraudulently in 4 different states that they saw the unusual pattern, contacted me and deleted those charges off of my account. Now that we have rebuilt our credit scores to over 780, secured a couple of lower interest cards, we use them much less. But I still use them for my on-line purchaes that I intend to pay off right away out of an appreciation for them helping me when I was down. I cannot say why they would cancel you or not tell you why directly. If I were you, I would try to get my hands on a credit report and make sure there is not something else going on that you do not know about. Maybe something fishy is going on behind your back with your credit.
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#2 Consumer Comment

Awwww some one's crying

AUTHOR: The Outlaw Josey Wales - (United States of America)

is isty bitty iamnogood felling's hurt?????LMAO punk
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#3 General Comment

Clint Eastwood, and I agree on this point

AUTHOR: IamGood - (USA)

That what I wrote, and explained to the Author of this post would only sound like BS to a financial idiot like you.  Your idea of "High Finances" means that your money is stored in the piggy bank on the "top shelf" of your kitchen cabinet.

BTW, I spoke to Clint Eastwood, and he is angry at you, that someone as stupid as you would steal a name that he made famous "The Outlaw Josey Wales".  He wants you to return it, and come up with something else, or else he said "he will make YOUR day"  :}

Find another site where you can amuse us with your witty (NOT) comebacks.

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#4 Consumer Comment

2 iamnogood

AUTHOR: The Outlaw Josey Wales - (United States of America)

 wow can u write a lot of BS
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#5 General Comment

Consumer Banks got burned by Consumer Loans after 2008 Financial Crisis

AUTHOR: IamGood - (USA)

After the start of the 2008 Banking Crisis, Several banks got burned with lots of charged off loans because people could no longer pay their credit card bills. 

Now banks have tightened up their standards considerably, and the Banks are starting to use Debt to Income Ratios to decide if they want to extend credit card privlidges or to give new credit cards to customers.

It sounds like Merrik Bank ran a Debt to Income Ratio on you, and the amount of credit card debt you are carrying far exceeded the amount of Income you were bringing in, and they did not want to take future risks, so they cancelled  your card.

I know you dont think it is fair, because you are paying your bills on time, but the bank is looking at the long term, considering what would happen to them if you got laid off.  You owe other credit card companies as well, and they felt that you may not be able to pay them in the future.

Nothing Illegal about this, or immoral either.  So just pay down your other credit cards, or pay them off entirely, and then you might get more offers  in the future.

Besides, if you have all these credit cards, and 1 gets cancelled you still have other cards, that is unless you have "Maxed" all the other cards out as well.  If that is what happened, and all your other cards have been "Maxed" out, I would have to say that you are a potential credit risk in the future as well.

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