Merrick Bank Corporation Rip Off, Closed Account, Predatory Bethpage, New York

The banking industry has spent an inordinate amount of time and money lobbying for unmitigated capitalism.  Sure, it's completely unethical, but since the consumer in our society is essentially hobbled by deregulation, they'll make sure they can milk what they can out of you even if it means the financial collapse of the United States.

As an employee, and also a consumer, I can tell you it is perfectly legal.  Every so often banks will pull your credit report.  If they see your debt is getting too high, they may believe your a risk into not paying back.  Lets forget that I am an employee for a moment.  I had 3 credit cards with Company A at one point.  I was then qualified for a high end credit card from Company B.  After 6 months, Company B closed my account for the SAME reason.  And where am I today? Im at finding out that I cant pay my 3 other credit cards with the normal APR. So what have we learned? We have learned that if Company B kept my credit card opened, I wouldnt be able to pay it. So Thank you Company B for closing that card.
And we would not tell you that you had to pay your balance immediately, you are responsible for the minimum payment each month. Nothing more is required of you.

the other cards are for...

That is sure great advice for someone who is rebuilding their credit after a bankruptcy!

pay em SQUAT!

WHAT good is it gonna do you???

At least you still have your other cards...

I do not understand how, the company reviewed my account and thought it would be a good idea to increase my credit line and then three months later, with the same amount of accounts, deem me too much of a risk and lose the account.
- They are taking the risk in letting you potentially borrow money.  They have a right to review your account and determine if they want to continue to take that risk.  They also have the right to change the criteria in which they are willing to take this risk.  Think of it this way, you loan a friend $1,000 and they pay it back on-time.  Are you really saying that even if nothing else changed that you would want to be forced to let them borrow another $1,000?

Now as for them requiring FULL payment, do you mean immediately?  Because if that is what you are saying that is a new one.  Unless you are delinquent there is no reason I can see for them to do this.  The only thing that will happen is that you are still required to make payments in accordance with the terms in effect at the closing of your account.  And until the account is paid off you are still subject to all fees and interest as per the terms.