Merrick Bank Corporation

Ms [redacted] was sent a solicitation via regular US mail for an account in July which was a “firm offer of credit.” The offer included a disclosure regarding the amount of credit being offered and the fees that would be charged on the account The solicitation disclosed that there would be a $set up fee and an annual fee of $ Ms [redacted] responded to the offer by returning the Acceptance Certificate Merrick received the Acceptance Certificate and opened the account The card carrier contained a notice that Ms [redacted] could reject the fees by not using the account and notifying Merrick of that rejection The CARD Act allows for fees including setup fees that do not exceed 25% of the initial credit line offeredThe total fees charged were $sfee, and a $annual fee for a total of $which is less than 25% of the credit line Ms [redacted] accepted Merrick has waived the balance and the account is closed The trade line for the Merrick account has been deleted from her credit file

Complaint: [redacted] I am rejecting this response because:Merrick has a very poor reputation for what I described. Merrick was not very forthcoming. I had no idea the account was even closed. Furthermore, their response does not explain why minimum paymemt amounts had not been explained before when I called in September. I also had not been told that I would loose my account. I received a letter in the mail stating that my account performance was poor. I acknowledge that I was out of work for a minute and my account fell behind. But when I tried to make amends for it, Merrick shut me out unjustifiably. I recently scrolled through rating sites And they have countless sites with the same kinds of complaints or worse. At this point, I no longer want Merrick's business. I would like my complaint to be publicly available as a warning of caution for anyone who would do business with them. I will pay off this account and be done. Sincerely, [redacted] ***

Ms [redacted] opened an account with Merrick in October and has used the account for the purchase of goods and servicesThe due date on the account is the 16th of each monthThe account was assessed two late fee which have been waived Beginning in October payments for the account have been received after the due date or for less than the minimum payment due on the accountBeginning in November Ms [redacted] entered into a payment plan to bring the account currentShe made on time payments in December, January and February and therefore the account was considered current We removed the remaining past due amount owed and reported the account as current to the reporting agencies Merrick is obligated by law to post payments when it receives them (not when they are sent), and it is Merrick’s policy and practice to post payments to accounts as of the date they are receivedMerrick has found that the US Postal Service is frequently slower than our cardholders expect when delivering payments to our processing centerMerrick performs recurring periodic audits of our payment processor and these audits have shown that delivery times by the USPS vary significantly and unpredictably

Mr [redacted] opened an account with Merrick in May but the account has had a zero balance and no activity for a year or more Merrick’s decision to close the account was based upon the inactivity of the account and no other reason The cardholder agreement between Mr [redacted] and Merrick allows either party to close the account at any time, and allows Merrick to do so for any reason without prior noticeMerrick reported the account as “closed by credit grantor”, which is the correct reporting on the account

Mr [redacted] opened an account with Merrick in September and has used the account for the purchase of goods and services Mr [redacted] contacted Merrick and spoke to a representative on March 29, and requested a lower interest rate and a waiver of the annual fee The representative explained that Merrick does not accept requests for rate reductions and that the annual fee was a fee that could not be waived Mr [redacted] called back on August 5, and spoke to another representative regarding that same request During the call he also asked to speak to a supervisor regarding his request The representative who spoke to him again explained that Merrick does not accept requests for interest rate reductions or annual fee waivers The representative explained that she would send a message to a supervisor to return his callA supervisor attempted to call Mr [redacted] back on August 5, but was unable to reach him Previous to those two calls, Mr [redacted] called in October about an issue he was having using the Merrick Bank app on his iPhone The representative who spoke to him on that day helped him reset the privacy settings on his phone so that the app would work This issue had been caused by an update to the Iphone software by Apple I listened to all three calls Mr [redacted] made to MerrickIn all cases, the representatives handled the calls with courtesy and respectThey were professional with Mr [redacted] and provided accurate information As stated above, Merrick does not lower APR’s nor does it waive annual/monthly feesHowever, as a courtesy, Merrick has waived two late fees of $eachThe credit adjustments will be reflected on Mr [redacted] ***’s next monthly billing statement

Complaint: [redacted] I am rejecting this response because: I was not notified via letter as described I use this account which I have used and paid on time to keep revolving credit this company has shown zero interest in showing character or integrityIt’s insulting to hear they believe they can simply pretend they sent notification that never existed Sincerely, [redacted]

Complaint: [redacted] I am rejecting this response because:My question is after two years of being a customer and going to the supervisor. Why didn't the supervisor do something right then and there to calm the situation down. Instead she did nothing except escalate the issue. Why are you giving me back to the same customer service line. When they couldn't resolve the issue in the first place. Now you're telling me to call them again? Does that make any logical sense? I have shown mathematically that you are overcharging me on my interest rate and all you can show me is a couple of lines in response? Are you taking me seriously or not? Sincerely, [redacted] ***

Complaint: ***
I am rejecting this response because: Federal law requires that information furnishers provide specifics to substantiate the information being furnished about a consumerSpecifically, FCRA and FACTA requires information furnishers to provide the following: (1) Proof of liability, (2) The terms of such liability, (3) Proof of performance, (4) Proof of any other adverse information that has been furnished regarding a consumerMerrick Bank has violated my consumer rights under the FCRA by not providing any information to substantiate what they're reporting other than a "printout" of information unlawfully maintained in their databaseMerrick Bank is in violation of the Red Flags Rule by not verifying the identification of a consumer PRIOR to the extension of credit to mitigate the possible existence of fraud, identity theft, or other related crimesI have never received any benefit from any products provided by Merrick BankI have never entered into any contracts making myself liable to Merrick Bank or provided my wet ink or electronic signature in acceptance to any contractual termsMerrick Bank continues to violate my rights under the FCRA, ECOA, FCBA, FACTA, TILA, and others for commercial benefit which possibly makes their actions prosecutable in criminal court as wellTHIS IS MY FINAL REQUEST! CEASE AND DESIST THE REPORTING OF YOUR UNLAWFUL ENTRY ON MY CREDIT FILE AND REMOVE IT IMMEDIATELY OR I WILL PERSUE FURTHER LEGAL ACTION FOR ENFORCEMENT LEADING TO FILING A LAWSUIT AGAINST MERRICK BANKMERRICK BANK WILL LOSE FAR MORE IN PENALTIES, ATTORNEY FEES, AND COURT COSTS FOR FAILURE TO FOLLOW THE RED FLAGS RULE, CONTINUED VIOLATION OF METRO-REPORTING GUIDELINES AND APPLICABLE FEDERAL LAWSPLEASE BE AVISED THAT MY ATTORNEY IS MONITORING THIS CORRESPONDENCE
Sincerely,
*** ***

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***I do not agree with itIt is very much unfairHowever at this point I do not feel like this bank is willing to work with me and it is not worth the effort to fight with a company who has so little regard for their customersThey have have given me no indication that they intend to adjust, reconsider, or even offer me an apology for their rather sy decisionI'm not satisfied, but I'm done.
Sincerely,
*** ***

Complaint: ***
I am rejecting this response because: Merrick Bank is lyingI did not agree to pay three dollars a month indefinitelyWhat bank does that? Only a bush league bank like Merrick bank does thatIf they don't want to waive the annual fee at least let me pay the annual fee in full so I don't have to carry a three dollar a month balance every monthThat is not a unreasonable requestDo the right thing Merrick Bank!
Sincerely,
*** ***

Merrick will review the information provided last week and inform the account holder of the results of the review

Complaint: ***
I am rejecting this response because: setting a risk policy is great, but there is no added risk to close someone's account, AND tell them to pay before you send to collections vsclosing the account and sending to collectionsUpon the account being closed, the risk is goneSo, your response is completely illogical and does not address the issue of using your risk policy to violate the law of telling a consumer before you are going to send something to collectionsSending it to collections did not decrease your riskClosing the account didbut after it was closed, sending it to collections added no additional benefitPlease remove the collection from my account and call me so I can make the paymentI expect this to be doneAlso, it would be nice to hear from a real human beingReceiving automated responses for an issue of such a magnitude of violating consumer laws would seem to merit a human being calling me to come to a resolution.
Sincerely,
*** ***

Merrick’s records indicate
that this cardholder was entered into an “Account Restructure” program in March
A letter detailing the parameters of the program was mailed to the
address on file for the cardholder with instructions to contact us immediately
if she didn’t agree to the
terms. The letter detailed the required
minimum monthly payment, a reduced interest rate, reduced late fee, and
indicated the account would be closed and monthly fees would no longer be assessedIn addition, the letter also stated if the account becomes five
payments past due, the account would be classified as a charge off and reported
to the consumer reporting agencies
At the time the cardholder entered
the program in March 2015, the account was already multiple payments past due and only one payment was received after enrollment in the programAs a result, the account charged off in
May and has been reported to the credit bureau agencies as such since the
date the account charged offOnce the account charged off, the “Account
Restructure” program was no longer valid
In June 2015, after the
account charged off, the cardholder made payment arrangements to pay $** per
month and has kept up with this agreementThere are currently two payments
remaining to complete the agreement, after those payments are made the account
will be reported as a Charge Off that has been Paid in Full

After a review of the account, it was determined the documentation provided was not sufficient for Merrick Bank to process a “chargeback” to the merchant that performed the serviceHowever, strictly as a one-time courtesy, the amount in question ($80) is being credited to the
cardholder’s account and will appear on the next billing statement

Ms*** opened an account with Merrick in August and has used the account for mainly cash advances and some purchases The account has had returned payments in the past daysThis is the reason the account was closed and subsequently charged off. The multiple returned
payments constitute a risk to the BankMs*** enrolled in paperless statements, but once the account is charged off no further statements are generated. The balance owing on the account is $4,075.08. Ms***’s account will not be reopened. The credit reporting on the account is correct and will not be removed or modified

Mr*** had a Visa credit card account with Merrick in January The terms of the cardholder agreement which govern the account, and which were disclosed when Merrick sent Mr*** the card, are that an annual fee be charged while the account is open or has an unpaid balance. Included
is a copy of the cardholder agreement and the attendant pricing appendix applicable to Mr***’s account for reviewUnder those terms the first year annual fee is assessed at the time the card is issued, and subsequent annual fees are billed 1/monthlyThese terms are fully disclosed in compliance with applicable laws, and the use of the account and the credit line associated constitute acceptance of those terms The annual fee is charged to the account as set forth above for the life of the account. Mr***’s account was reviewed and the conversations between Mr*** and the supervisor who explained the payment options for the annual fee amount were also reviewed. During the call the supervisor explained that Mr*** could make the payment online for free. Merrick apologizes if Mr*** felt he did not receive the level of professional service he deserved on the call

Attached is an example of the exact solicitation that Ms*** received for a Merrick Bank card. This is a firm offer of credit contingent upon the applicant continuing to meet the credit criteria Merrick obtained from the credit reporting agencies in the pre-screen prior to making the
offerMs*** received an adverse action notice indicating the reasons why her application was declined The pre-screen process takes place two months prior to the offer of creditIn the application Ms*** submitted in response to the firm offer of credit, she authorized Merrick to obtain a full credit report as part of evaluating the application. Because Merrick had permissible purpose to review Ms*** full credit file as part of the application, Merrick will not remove its inquiry from her credit file

MrB*** has been removed from Merrick’s pre-screened solicitation listIf MrB*** does not wish to receive further solicitations from lenders he can call *** which is the national “opt out” program so that his name and information will not be provided to any lender who does these
types of solicitations. This notice was also included in the mail solicitation that MrB*** received from Merrick
Merrick did not make a full inquiry into MrB***’s credit therefore only a “promotional or soft inquiry” appears on his credit file. He is the only one who sees this inquiry and it does not affect his credit score in any way. Merrick does not sell or share information or lists with any third party of affiliates

Complaint: ***
I am rejecting this response because:It seems like Merrick Bank has trouble keeping track of what they say on the phone, what they receive in the mail, etc.I did return the first inquiry you asked for. I CANNOT give you the contract I signed because I didn't sign a contract. I did call the merchant (as I mentioned on the form I returned) and they said they couldn't find an account for me.I asked you to close my credit card. You didn't - until I was charged a third time. I am not filling out another form because you kept my account open and got charged again.Again, every other credit card would help in a situation like this
Sincerely,
*** ***

A review of the account was conducted. Ms*** sent two payments which were received and posted to the account on December 1, 2016. The due date on the account is the 28th of each month. According to the history of the account Ms*** contacted Merrick’s customer service
department by telephone on December 6, regarding the payment. The representative she spoke to explained why the payment was posted as reflected on her statementThe representative also waived the most recent late fee and adjusted the minimum payment due for December to zero to conform with the way Ms*** intended the funds to be applied to the accountBecause a credit card is a revolving account which potentially has differing payment amounts each month, Merrick does not accept payments for periods other than the current monthThe Cardholder Agreement sets forth how Merrick applies payments, including payments that exceed the minimum monthly payment amountMs*** should be able to see these adjustments to the account online or on her next statement