Get Merrick Bank Annual Fee Waiver With the Help of DoNotPay
Annual fees on a credit card can be a pain. In fact, over 50% of the people who consider changing a credit card cite annual fees as the main reason. If you have Merrick Bank's credit card, you know how paying the huge hurts.
But did you know you can request a waiver on the annual fees? DoNotPay can help you make your Merrick Bank waiver request quickly, more conveniently, and with an assurance that it will be successful.
Common Merrick Bank Charges and Fees
Below are the most common :
|Cash advance fees||Cash advance fee refers to the amount charged when you use a credit card to withdraw funds at an ATM, with a cash advance check, in-person at participating stations, or through direct deposit. Merrick Bank levies a cash advance fee of 4% (min $10) for every transaction.|
|Foreign transaction fees||Merrick Bank charges a 2% fee when you make a transaction outside the US.|
|Annual fees||Another common Merrick Bank fee is the annual fee. The three Merrick Bank card offerings have their specific annual fees, but this credit card issuer has high annual fees.|
What Is an Annual Fee?
An annual fee is an amount that financial institutions charge their customers every year for using their credit cards. Credit card providers often charge it on a specific month of the year, such as at the start of a calendar year or on every anniversary of the date you got the card, but they can also divide and distribute the fee to be payable monthly.
The annual fee is separate from any interest payments you may incur on your account and is chargeable even if your card carries no balance.
The law requires credit card providers to disclose the annual fees when someone is applying to open an account. Besides, they must notify their customers about any changes in the annual fee before the new one becomes effective. Like overdraft fees, not all banks levy annual fees.
Merrick Bank Annual Fee Explained
Merrick Bank's credit card offerings include the Platinum Visa®, the Secured Visa®, and the Double Your Line® Secured Visa®. For the Platinum Visa, you pay an annual fee of $0-$72 annual fee in the first year, billed at $0-$6 every month after that. Besides, the card charges a 23.45%-28.45% APR Variable.
The other two card offerings have similar terms. You are also subject to a 17.45% APR Variable and $36 as the annual fee. Additionally, the back levies the annual fee upfront for the first year and bills at $3 monthly after that.
Tips for Avoiding Merrick Bank Annual Fee
Merrick Bank's annual fees can be very high, and you may wish to find a way to avoid them. Consider doing the following:
- Switch to another card. One way to avoid Merrick Bank's annual fee is switching to a different card that charges a lower annual fee. Alternatively, you may consider a Platinum Visa card if you have been using the other two card offerings and they seem more expensive to you.
- Cancel your card. Another way to avoid Merrick Bank's annual fee is to cancel the card. However, this move will hurt your credit score, so you need to weigh your options first.
- Apply for a card with no annual fees. The ideal way to avoid Merrick Bank's annual fee is to apply for a card that has no annual fees in the first place. Several cards such as Chase Freedom Unlimited®, Wells Fargo Active Cash℠ Card, and Citi® Double Cash Card charge no annual fee.
How to Get Merrick Bank Annual Fee Waiver on Your Own
If you have a huge annual fee but want to retain your Merrick Bank credit card, you can consider requesting a waiver. You will need to call Merrick Bank's customer service number via 1-800-204-5936 and ask if they can give you a waiver. If the representative accepts to waive the fee, that's great. But if they do not, you may state that you want to cancel to avoid the high annual fee. They may then waive the fee for fear of losing you as their customer or completely decline to waive and go on to cancel your account.
It largely depends on how long you have used the card and your payment history. Customers who have used their card for a long time and have a great payment history may be lucky to get a waiver, unlike new cardholders with spotty payment records.
However, your fate lies with the representative you call. In short, you have no guarantee that Merrick Bank will waive your annual fee if you request them by yourself.
Get Merrick Bank Annual Fee Refund With the Help of DoNotPay
If Merrick Bank does not heed your request, you don't have to worry. DoNotPay is ready to sort you out. DoNotPay can help get waivers on all bank fees in a quick and easy procedure with an assurance of success. You won't need to make calls to the representative.
Here's how to Get Merrick Bank Annual Fees Waived with DoNotPay:
- Open the DoNotPay Fight Bank Fees product.
- Enter the name of your bank.
- Verify the last 4 digits of your bank account.
- Choose which fees you want to waive, including overdraft, ATM, and transaction fees.
What Else Can DoNotPay Do?
DoNotPay commits to helping people get waivers or refunds on any fees, including
- Citizen's Bank Overdrafts
- Fifth Third Bank Overdrafts
- Paypal Transfers
- Chase Banks Overdrafts
- TD Bank Overdrafts
- Wells Fargo Overdrafts
- Overdraft Fees on Weekends
- Bank of America Overdrafts and ATM fees
DoNotPay can also help you with:
- Filing Complaints
- Chargebacks and refunds
- Small claims court
- Gift card cashback
- Revocable living trust
- Insurance claims
- Breach of contract
- Power of attorney
Sign up with DoNotPay today and let us help you fight bank fees.