Don't bother with MERRICK BANK ! ! ! !

thebostonredsox · ‎12-05-2008

Merrick Bank is closing accounts due to "too many new accounts in the last 6 months". It doesn't matter if your FICO score is good or if you've never had a late payment or overlimit with them. Evidently thousands of accounts have been closed as of December 1st.

I logged onto my account today to find they had closed mine as well. My account is about 9 months old with a horrible 24.45% APR. Thankfully I've since opened new tradelines with the top-tier "Prime" banks!

Avoid Merrick if possible (Hooters Card, Merrick Visa) !!

Anonymous · ‎12-06-2008

I just check mine and it's still open. I opened a lot new accounts since I got my Hooters card a year ago and if they decide to close it o well. I just see it as 1 less card I have to worry about using just to keep it open.

Anonymous · ‎12-06-2008

I have a Merrick Visa for 4 years now, and I have a Hooters MC for one year.

In the last year I opened 6 new credit cards and a new mortgage in 7/08.

Merrick has NOT lowered or closed any of my accounts.

I do not think that opening new accounts is their reason for closure.

Anonymous · ‎12-06-2008

Just got a CLI with Merrick

heirophant · ‎12-06-2008

@Anonymous wrote:
Just got a CLI with Merrick

Same story here. My statement cut yesterday and I have a whopping $300 CLI from $3000 to $3300. But, its something, so I won't complain.

Also, within the last six months, I have opened 2 accounts. No AA from them yet. I'm happy with my Hooters card. A few of my cards have recently hit the 1 year mark as well, so my FAKO just rose dramatically in the last couple of months on TU from 590's to 650's. And in the past 8 months, my WAMU PFICO has gone from 561 to 643. Nice! Hooters should be pleased with me.

Anonymous · ‎12-06-2008

I just recieved the same letter,"closed " for the same reason.

mario6585 · ‎12-06-2008

Same here... Attempted to use my card for a purchase and come to find out the card got denied..so when i got home i logged into my account and sure enough there was no available credit just a small balance that i still owe on the account. Then 4 days later i recieved a letter stating my account was closed because of to many recently opened accounts( 5 new accounts in 6 months). The thing that pisses me off is that they could have atleast notified me before hand so i didnt feel like low life in front of the girl at the counter. Never paid late and most of the time never carried a balance. Freaking weird banking if you ask me.

Anonymous · ‎12-07-2008

@mario6585 wrote:
Same here... Attempted to use my card for a purchase and come to find out the card got denied..so when i got home i logged into my account and sure enough there was no available credit just a small balance that i still owe on the account. Then 4 days later i recieved a letter stating my account was closed because of to many recently opened accounts( 5 new accounts in 6 months). The thing that pisses me off is that they could have atleast notified me before hand so i didnt feel like low life in front of the girl at the counter. Never paid late and most of the time never carried a balance. Freaking weird banking if you ask me.

Be happy they at least notified you. I had a LoC with GEMB and a credit card with them. They closed both of the accounts and never bothered to notify me. The only reason I know is because I saw they were closed on my credit reports.