Merrick Bank
Secured Card Ripoff!

Beware of this Sly Bank! I opened a secured credit card account with this bank years ago by depositing nearly $5000.00 as collateral so I could borrow against it at a higher than usual interest rate. I paid my bill on time for years. Recently, I decided to close the account by paying off the outstanding balance and receiving a check for the difference of what was owed and the remaining amount in my collateral account. They closed my account as I requested and CONTINUED TO CHARGE ME INTEREST FOR ANOTHER TWO MONTHS because there was an outstanding balance on it.

To quote an employee I spoke to when asked about that he replied, " well, that interest is like an advanced cancellation fee that we charge because we can". When they finally paid off the balance two months later and I was supposed to receive a check, I never received it. I called them back to hear the employee tell me that if they pay off the balance owed and there is a credit on my account, it takes another 30 days to receive the check and I live in New York also. This company is perpetrating a scam.

They are using any and all methods at their disposal to keep my money as long as possible to continue to generate interest on it. STAY CLEAR AWAY FROM THIS BANK! There are many other honest banks that offer secured credit cards that you can do business with. Don't get scammed from a bank that doesn't want to see YOUR money leave their greedy claws. Please send this message to everyone you know.

Company: Merrick Bank
Country: USA
State: New York
City: Hicksville
Address: PO Box 5721
Phone: 8002532322

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