Can I cancel a card to avoid paying the annual fee?

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shoptalk01
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Can I cancel a card to avoid paying the annual fee?

Postby shoptalk01 » Sat Sep 15, 2012 3:56 pm

Can somebody help me? I applied for a secured visa card from Merrick Bank and according to Credit Karma, they did a hard pull on my credit file on Sept. 13. Today some of my friends helped me out and found a ton of complaints on Merrick Bank that I didn't find on my own. In fact we learned they are not really a bank but a place that preys on people with bad credit. There are even complaints from people who were turned over to a collection agency for not paying their annual fee.

Then we found the really bad part, there is no contact information on the webpage which is something I didn't notice. As for right now, I can't even call them. I'm sorry I just don't know how to use a computer better than I do, I do a lot of guessing and that gets me yelled at frequently for doing stupid things. I've been told I shouldn't just do these things without help, but then nobody ever comes to help.

Does anyone have any idea how I can contact Merrick Bank so I can ask about cancelling the account or does anyone know how I can cancel it when it gets here before they get a chance to rip me off?

I've been denied by both Bank of America and US Bank for secured cards but it appeared that Merrick bank doesn't base their decision on your credit score, yet they do a hard pull? I really wanted to get my credit up in 6 months to see if I could qualify for the Bank of America secured card then, but it looks more and more like an unrealistic daydream. I might just stay with the Capital One secured card and call it wonderful. If I can't do better after a year, I think I'll just give up on trying to use credit.

So now if anyone knows how to cancel the Merrick Bank card before I get nailed with having to pay the annual fee, that would be great!


trumpet-205
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Postby trumpet-205 » Sat Sep 15, 2012 4:36 pm

Here is contact info from its website,

Merrick Bank Corporate Offices and Customer Service Contact Information

Just stick with Capital One.
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shoptalk01
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Postby shoptalk01 » Sat Sep 15, 2012 8:01 pm

I tried calling the 800 number listed, I got someone who spoke good English on the phone and was only on hold maybe 3 minutes. Of course the bad started already and I haven't even got my card yet. The lady I spoke with said she needed my 16 digit card number in order to help me, but I told her I didn't have my card yet and she said there was nothing further she could do. She said I would have to wait patiently until my card arrives in the mail. When I asked about it she said the annual fee comes due on the first billing cycle and there was nothing they could do about it. I asked what happens if I refuse to pay the annual fee and she said it gets turned over to collections and the card would put another delinquent as well as show as charged off then closed by creditor. I would then have a current collections account showing. If that's not bad enough, they hold your security deposit hostage until you pay. I guess I can only hope that she was giving me bad information.

Looks like my only choice is to pay the annual fee then call in to cancel the card. I have also thought about if the envelope looks to be from them writing on it "return to sender, not current address" and putting it back in the mail. What does everyone think?

kashmac123
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Postby kashmac123 » Sun Sep 16, 2012 12:49 am

shoptalk01 wrote:I tried calling the 800 number listed, I got someone who spoke good English on the phone and was only on hold maybe 3 minutes. Of course the bad started already and I haven't even got my card yet. The lady I spoke with said she needed my 16 digit card number in order to help me, but I told her I didn't have my card yet and she said there was nothing further she could do. She said I would have to wait patiently until my card arrives in the mail. When I asked about it she said the annual fee comes due on the first billing cycle and there was nothing they could do about it. I asked what happens if I refuse to pay the annual fee and she said it gets turned over to collections and the card would put another delinquent as well as show as charged off then closed by creditor. I would then have a current collections account showing. If that's not bad enough, they hold your security deposit hostage until you pay. I guess I can only hope that she was giving me bad information.

Looks like my only choice is to pay the annual fee then call in to cancel the card. I have also thought about if the envelope looks to be from them writing on it "return to sender, not current address" and putting it back in the mail. What does everyone think?


Shoptalk01:
I suggested to you to not use this bank. Read your post when you asked about this bank.

Wait, accept your mail and call in and cancel this card. Cut the card in half and return it by certified mail, Wait three weeks to receive you money back.

.

shoptalk01
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Postby shoptalk01 » Sun Sep 16, 2012 7:10 am

I'm sorry I'm just not smart. I keep wanting to do things on my own that I'm not smart enough to do. My mom says I've been making too many mistakes and if I keep making mistakes she'll have to have me found incompetent and take over my affairs. Since I posted this I went to the ATM to get a little cash but noticed my balance was lower than it should have been so I checked my online banking when I got home and discovered US Bank had taken out $300 for a security deposit. When I called them the other day it sounded like I was denied so I applied for the Merrick Bank secured Visa -- I really wanted a Visa card. That's when my friend came over, found a bunch of crap on Merrick Bank and told me I was just to stupid to know how to use a computer and I'm better off leaving my fingers off of them. They told my mom and she said if I failed to cancel the card on my own, someone would have to come and do it for me. I know there's some reason why you shouldn't open 3 new cards this close together but would closing one of them fix anything? Just how bad does it hurt a credit score to close a couple of cards right after opening them?

DoingHomework
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Postby DoingHomework » Sun Sep 16, 2012 7:09 pm

When the card comes it will probably have a sticker on it with a number to call to activate it. DO NOT CALL THAT NUMBER. Call the customer service number you already called, give the the 16 digit card number then keep repeating the phrase "Cancel this card. Do not activate." in response to anything the agent says. DO NOT SAY ANYTHING ELSE!!!!

They will try to get you to activate the card first. That will trigger the annual fee. If you don't agree to activate it then they can't. They will try to trick you by saying they have to activate it before canceling it. That is a lie. If you repeat that phrase over and over and say nothing else then the person will eventually give up and cancel it.

In the future, DO NOT SIGN ANYTHING that you have not had your mother read first.

Rory
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Postby Rory » Sun Sep 16, 2012 11:59 pm

DoingHomework wrote:When the card comes it will probably have a sticker on it with a number to call to activate it. DO NOT CALL THAT NUMBER. Call the customer service number you already called, give the the 16 digit card number then keep repeating the phrase "Cancel this card. Do not activate." in response to anything the agent says. DO NOT SAY ANYTHING ELSE!!!!

They will try to get you to activate the card first. That will trigger the annual fee. If you don't agree to activate it then they can't. They will try to trick you by saying they have to activate it before canceling it. That is a lie. If you repeat that phrase over and over and say nothing else then the person will eventually give up and cancel it.

In the future, DO NOT SIGN ANYTHING that you have not had your mother read first.


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