All that glitters isn’t gold. I am very disappointed in Merrick Bank. As a loyal customer for some time, I consistently paid my entire bill on time each month. I was surprised to see my credit limit increased because I didn’t request such, but as always continued to pay my entire bill to ensure that the balance was low going into the next month. Instead of being rewarded for being a good customer, Merrick Bank decided to punish me. After Merrick Bank received (posted and processed) the electronic payment transfer of funds from my bank and posted it to my account, they applied only half of the amount paid to my available credit and put an unnecessary hold on the remaining amount of my limit (over $700!), which they planned to keep in place for 7 days. It was not enough that Merrick had the funds already, but the rude robotic customer service reps and supervisor insisted that my bank needed to fax “proof” of my personal bank account balance to Merrick Bank showing my balance before the credit payment and after. What in the world?!! My personal bank account information is none of their business; they received full payment. Another annoying aspect is that the reps kept saying, “You made such a large payment. The hold is set up to protect you.” Really? I am not Boo-boo, the fool. The ridiculousness of it pushed me to close my account. If Merrick Bank doesn’t trust me as a loyal customer in spite of my excellent payment history with them, then we are best parting ways. There are too many other companies out there with better rates and service to deal with these robots. I prefer American Express and Capital One.
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