Merrick Bank is a financial institution that offers secured and unsecured credit cards to people with poor credit who want to increase their credit scores. These credit cards can be beneficial for people recovering from bankruptcy or other adverse financial events, as they help them bounce back and improve their credit history.
However, sometimes, current clients may find that the credit card doesn’t provide the advantages they hoped for or have trouble keeping up with their payments as they intended. In such cases, canceling the credit card with Merrick Bank is pretty simple. In this article, we will discuss how to cancel a Merrick Bank credit card.
Canceling a Merrick Bank Credit Card
If you want to cancel your Merrick Bank credit card, you have two options. You can call Merrick Bank’s customer service line or send a written request to Merrick Bank. Here are the details of each option:
Call Merrick Bank’s Customer Service Line
The most straightforward way to cancel your Merrick Bank credit card is to call the company’s customer service line. The number to call is 1-800-204-5936. Once you’re on the line with a representative, explain that you want to cancel your credit card. The representative may ask you some questions about why you’re canceling the card, but you’re not obligated to provide any additional information beyond your desire to cancel it. After the representative processes your request, your account will be closed, and you’ll receive confirmation via mail.
Send a Written Request
If you’d prefer to avoid speaking with a representative, you can send a written request to Merrick Bank at the following address:
Merrick Bank Customer Service P.O. Box 9201 Old Bethpage, NY 11804-9001
In your letter, include your full name, address, and credit card account number. State clearly that you want to cancel your credit card and request confirmation that your account has been closed. It’s also a good idea to send the letter via certified mail, return receipt requested, to ensure that the bank receives it.
Things to Keep in Mind When Canceling a Merrick Bank Credit Card
When canceling a Merrick Bank credit card, there are a few important things to keep in mind:
Pay off your balance
Before canceling your credit card, ensure you’ve paid off any outstanding balance. If you have an outstanding balance when you cancel your card, you’ll still be responsible for paying it off.
Check for recurring charges
Make sure that you’re not signed up for any recurring charges on your credit card before canceling it.
Impact on credit score
Canceling a credit card can impact your credit score, mainly if it’s one of your oldest accounts or one with a high credit limit. If you’re concerned about the impact on your credit score, consider keeping the card open and simply not using it.
Rewards points
If you have any reward points associated with your Merrick Bank credit card, make sure to redeem them before canceling the card. Once the account is closed, you may lose any unredeemed rewards points.
Conclusion
Canceling a Merrick Bank credit card is a simple process that can be done by calling the company’s customer service line or sending a written request. Before canceling your credit card, ensure you’ve paid off any outstanding balance, checked for recurring charges, and considered the impact on your credit score. If you have rewards points associated with your credit card, make sure to redeem them before canceling the card. Following these steps, you can cancel your credit card with Merrick Bank without complications.
FAQs
How do I cancel my Merrick Bank credit card?
To cancel your Merrick Bank credit card, call their customer service at 1-800-204-5936 and request for cancellation.
Is there any fee for canceling my Merrick Bank credit card?
There is no fee for canceling your Merrick Bank credit card.
Can I cancel my Merrick Bank credit card online?
No, you cannot cancel your Merrick Bank credit card online. You have to call their customer service to cancel your credit card.
What information do I need to provide when canceling my Merrick Bank credit card?
You will be asked to provide your credit card number, your name, and your reason for cancellation.
How long does it take for my Merrick Bank credit card to be canceled?
Your Merrick Bank credit card will be canceled immediately after you call their customer service.
Will canceling my Merrick Bank credit card affect my credit score?
Canceling your Merrick Bank credit card may affect your credit score if it is your only credit card or if you have a high balance on the card.
Can I cancel my Merrick Bank credit card if I have a balance on it?
Yes, you can cancel your Merrick Bank credit card even if you have a balance on it. However, you will still be responsible for paying off the balance.
What happens to my rewards points if I cancel my Merrick Bank credit card?
If you cancel your Merrick Bank credit card, you will lose any unredeemed rewards points.
Will I receive a confirmation of my Merrick Bank credit card cancellation?
Yes, you will receive a confirmation of your Merrick Bank credit card cancellation via mail.
Can I reapply for a Merrick Bank credit card after canceling it?
Yes, you can reapply for a Merrick Bank credit card after canceling it. However, you may have to wait for a certain period of time before reapplying.
Glossary
- Credit Card – A plastic card issued by a financial institution that allows the holder to borrow funds to pay for goods and services.
- Merrick Bank – A financial institution that offers credit card services to consumers.
- Cancel – To terminate or end an agreement or contract.
- Step-by-Step Guide – A sequence of instructions or actions to complete a task in a specific order.
- Cardholder – The person who holds a credit card.
- Annual Fee – A yearly charge assessed by the credit card issuer for maintaining the account.
- Interest Rate – The percentage of the principal amount charged by the lender for the use of borrowed funds.
- Minimum Payment – The smallest amount of money a cardholder must pay each month to keep the account in good standing.
- Late Payment Fee – A charge levied by the credit card issuer for missing a payment deadline.
- Credit Limit – The maximum amount of money a cardholder is allowed to borrow on their credit card.
- Grace Period – A period of time after the due date during which a cardholder can make a payment without incurring a late payment fee.
- Credit Score – A numerical representation of a person’s creditworthiness based on their credit history.
- Balance Transfer – The process of transferring the balance of one credit card to another card with a lower interest rate.
- APR – Annual Percentage Rate, the interest rate charged on the outstanding balance of a credit card.
- Customer Service – The department of a company that deals with customer inquiries, complaints, and support.
- Online Account Management – The ability to manage a credit card account through the internet.
- Billing Statement – A monthly statement sent to the cardholder that shows the balance, payments, and charges on their credit card account.
- Fraud Protection – Measures put in place by the credit card issuer to protect against unauthorized use of the card.
- Rewards Program – A program that offers incentives such as cashback, points, or miles for using a credit card.
- Closing Account – The process of terminating a credit card account.
