topic Merrick Bank closed my account in Credit Cards

Merrick Bank closed my account

Anonymous — Wed, 14 Jan 2009 08:25:47 GMT

SOB's at Merrick Bank closed my account. The idiots say it was closed because of my EQ credit report showing I have new accounts showing. I opened up less than 6 accounts in over 6 months. I had the card when I had credit scores in the 500's and now it's in the 700's they screwing with me. Card was less than a year old and had a 27.99% APR so yes, it was collecting dust.

Re: Merrick Bank closed my account

jaxstraw — Wed, 14 Jan 2009 16:21:37 GMT

Sorry to hear that OP.

Take some solace in the fact that these closures and CLD actions are widespread among almost all lenders, everyone stands a chance of getting AA even if they are among the best of customers.

No one is immune , just lucky to avoid the radar.

If you follow the markets, banks and lending institutions are in almost as bad shape again as when the original TARP $ was distributed a couple months ago.

These actions haven't even begun to slow down or stop. They will probably increase.

Re: Merrick Bank closed my account

oracles — Wed, 14 Jan 2009 16:31:07 GMT

I agree with Jax, dont take it personal. In today's time, many banks are taking AA. With scores like yours, depending if this was a high cl you lost, you would be able to make it up through cli on other cards. Still be happy with your progress.