I found a good site for checking out banks and credit card companies. It is http://www.business.com/directory/law/practice_areas/commercial_law/banking_law/associations I did a search on "Merrick Bank" and got this: "February 9, 2001 ATTORNEY GENERAL HALTS CREDIT CARD SCAMS Thousands of New Yorkers to Receive Refunds In recognition of National Consumer Protection Week, Attorney General Eliot Spitzer today announced that his office has reached settlements with two firms accused of engaging in deceptive credit card schemes targeting consumers with poor credit histories. "My office has been aggressively pursuing those who prey on low-income consumers seeking financial stability," Spitzer said. "Fraudulent offers of credit and other high-cost lending scams victimize those least able to afford it and further escalate the vicious cycle of debt problems." In 1999 alone, Spitzerâ??s office received nearly 5,000 complaints about such financial schemes, making credit-related issues the third most prevalent consumer concern in New York State. As part of his efforts to curb dubious credit practices, Spitzerâ??s office took action against Merrick Bank of South Jordan, Utah and Quebec-based National Credit Search (NCS). Merrick Bank In the winter of 1998, Merrick Bank commenced a marketing campaign in which it guaranteed to consumers looking to build a positive credit rating that they would be approved for an unsecured credit card with a $500 credit limit, and that no up-front security deposit or collateral was required. Many consumers who paid Merrick a $90 non-refundable processing fee not understand that they had applied for a "pay-as-you-go" credit card. Consumers receiving this card immediately had their entire $500 credit limit charged to the account as a refundable "reservation fee" and were required to pay down this balance before they could make purchases with the card. Spitzerâ??s office also objected to Merrickâ??s arrangement with Chase Manhattan Bank, which provided that those consumers who applied to Chase and were denied a platinum credit card with a low interest rate and a high credit limit had their applications automatically submitted to Merrick Bank. Credit cards were then issued to these consumers at an interest rate of as much as 29 percent and an annual fee ranging from $39 to $59. Under the agreement, Merrick will not misrepresent its "pay-as-you-go" credit cards and will not open credit card accounts through any partner bank referral arrangements unless the arrangement is clearly and conspicuously disclosed in the application. In addition, Merrick will refund the processing fee received to New York consumers who claim, in writing, that they were misled by Merrickâ??s marketing of its "pay-as-you-go" credit card, and will notify eligible consumers of the their right to a refund. " http://www.oag.state.ny.us/press/2001/feb/feb09a_01.html
NEXTCARD CLOSED.....3:24 pm...done - asked for a confirmation number and she said it would just show closed on the WEB. The reason - I wouldn 't deal with Merrick Bank - she obviously had heard that today - she said "Oh...." She was not surprised at all. aarrfff dogman
