Reply
New Contributor
Posts: 68
Registered: ‎09-19-2008
0

Closing Merrick card -- what procedure?

I have a Merrick Visa with a CL of $1350 and my balance was right at $1000. I surfed the balance to my new Discover with a CL of $7000.

 

I want to close Merrick because the annual fee is $60 and the APR is a ridiculous 25.95%. My balane is now zero with them. I just do not need a high interest card anymore, my fico is plenty high to get any high credit limit card I need. 

 

I just need to know....what is the correct procedure for closing this account? Do I call them, or write to them, or what? I don't think I have ever been in a position to voluntarily close a card down myself before. Any help or advice would be welcomed. Thanks. 

Valued Contributor
Posts: 1,986
Registered: ‎08-17-2007
0

Re: Closing Merrick card -- what procedure?

[ Edited ]

Is this your oldest card?  Do you need the history?  It will still show on your report so just call them up and close it but make sure balance is zero.  I have their card and don't use it much but when I do I pif.

 

I have no fees however.

 

Message Edited by casinoannie97 on 06-09-2009 08:52 AM
Established Contributor
Posts: 832
Registered: ‎01-16-2008
0

Re: Closing Merrick card -- what procedure?

Just call the customer no-service number on the back of the card and tell them you want to close the account.

Starting Score: TU 737 EQ 721
Current Score: TU 741 EQ 741
Goal Score: TU 765 EQ 760


Take the FICO Fitness Challenge
New Contributor
Posts: 68
Registered: ‎09-19-2008
0

Re: Closing Merrick card -- what procedure?

No, I have plenty of older accounts, so I don't need it for that.

 

Does anyone think if I call CS they will cancel the annual fee? If they would stop that AF I would keep the account open. I really don't care about the APR because I won't be using the card anyway. And if I did, I'd be paying in full at the end of the month. I just want that AF to go away. 

Valued Contributor
Posts: 1,986
Registered: ‎08-17-2007
0

Re: Closing Merrick card -- what procedure?

they might but if you have plenty of accts why do you need one with a/f?  Like I said they never charged me a fee.but I guess my cl is maxed out at 3000.  I never found them very helpful.  CLI were always at their whim and I haven't had one since 2007.  why do you want this card?

New Contributor
Posts: 68
Registered: ‎09-19-2008
0

Re: Closing Merrick card -- what procedure?

I don't want a credit card with an annual fee, that is the whole point. My question now is...if I call them, do I stand a chance that they will drop the annual fee in order to keep my business?
Contributor
Posts: 79
Registered: ‎10-09-2008
0

Re: Closing Merrick card -- what procedure?

I just cancelled my Merrick card last month for that reason -- didn't want to pay the annual fee.  Told Merrick CS why over the phone and they made no effort at all to keep me.  Basically it was, "thanks for the business, we'll cancel the card for you."
Established Contributor
Posts: 645
Registered: ‎10-24-2007
0

Re: Closing Merrick card -- what procedure?

Just a reminder...after you close the card be sure to watch your mail for further statements from them or check online whenever your next statement would be due. Often, after we think we've paid all balances due there is a final bill for interst from the last statement closing date to to.the date we close the account.
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.