Merrick Bank / Rip off
In light of the economy and Banks getting bazillions of tax payer dollars to make things easie for people, last week I called Merrick Bank and requested the reduce my outrageouesly high 26% interest rate. They were totally unsympathetic and flatly said no. The following week (July 15, 2009)I received a notice from Merrick Bank advising they were raising my interest rate to nearly 33%. On July 16th I called and spoke to supervisor Mrs. Powell and asked her to explain why the banks that just received trillions of tax paypayer dollars to make things easier for people in these economic times just raised my already outrageously high 26% interest rate to nearly 33%. She said that is the bank's policy. They are raising rates and they don't care whether I agree or not. I advised I am no longer going to use the card or make any further payments on the account. They can sue me or reoport me to the credit agencies. I advised I am posting complaints againts the bank all over the internet as well as filing complaints with appropriate government agencies. They couldn't care less.