Month: January 2017

Merrick Bank

My hubby has been calling to get our high interest rate cards reduced.

HSBC was generous in their reduction, but Merrick won’t play. Their response was “Merrick Bank doesn’t lower interest rates.”

What a crappy attitude, don’t you think? We’ll probably have to open another card and try to transfer the account if possible.

Hubby refuses to call them again.

Has anyone else found a way to get Merrick to lower the interest rate?

What about Chase (used to be Providian)?

Huh… Sounds like Barclaycard. They don’t play either. In fact, they will raise it even more.

Chase was the first to use a dirty policy called universal default. They have their greedy hands all over the place in predatory lending, especially to those who can least afford it. Ever hear of loan to own?

I recenly saw on a morning show how the economy in Russia is improving and guess who is setting up credit card operations there ? Chase!

They showed one Russian couple saying how they wanted to get credit cards and redo their kitchen. Oh, I hope they know what they are getting into buying on credit. Not everyone who uses CC’s is going to get into trouble, but it’s not hard to fall in the trap and find oneself in a spiral of debt. Chase is just Citi with another name. Same old predator!

Wow, Chase! To me, they are the Freddie Kruger of financial institutions. We had a 2nd mortgage at one time with them, and they were really trying to screw us. They kept adding all these strange charges even though we paid ahead of the due date each month and they had some really bizarre explanations for what they were doing.

The balance never went down in almost 3 years. We also learned it was a balloon payment loan, which they never told us until after we had signed. There are lots of Citibank foreclosures in our area, so you know they are practicing predatory lending in many cases.

We finally refinanced the 2nd mortgage with a close friend, and we’re paying 7% interest for 15 years (are in 3rd year now) compared to 12% on the 2nd with Chase, which was originally with First Union Bank….I guess the larger banks just swallow up the smaller ones in order to increase their profits.

My husband is in the process of a balance transfer of the Merrick Card and the Chase (who bought Providian, who was the original cardprovider). At that point, we’ll cut up the cards but keep the accounts open to improve our ratio….with a plan to eventually close them.

Thanks for your feedback on this.