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Merrick Bank Secured Visa® Credit Card

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on Merrick Bank's secure site

Merrick Bank Secured Visa® Credit Card

 

Rated 3.5/5 stars by our editorial team

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Your Rating:

3.0/5.0 from 2 Offer Ratings
Over the Past 60 Days!

(2) Over the Past 60 Days!

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on Merrick Bank's secure site


  • Regular Purchase APR

    17.45% Variable

  • Intro Purchase APR

    N/A

  • Intro BT APR

    N/A

  • Typical Credit Needed

    549

    600

    660

    720

    850

  • Annual Fee

    $36 for the first year. Billed $3 per month thereafter.

  • Card Brand

    Visa®

Highlights

  • Click "APPLY NOW" to apply online
  • Choose your own credit line based on how much money you want to put down as a security deposit.
  • Initial deposits can be from $200 to $3,000. You can increase your credit line at any time by adding additional money to your security deposit, up to $3,000.
  • After 9 months, we review your account for a credit line increase. No additional deposit required!
  • Secured Credit Cards are great for people looking to build or rebuild credit and are available to people with all kinds of credit backgrounds.
  • Unlike a debit card or a pre-paid card, it helps build your credit history. As you pay your bill every month, we report to all three major credit-reporting agencies.
  • Get 100% U.S.-based customer service & get your FICO® Credit Score for free each month.
  • Fraud coverage if your card is lost or stolen. Access your account 24 hours a day, 7 days a week. Get help staying on track with Auto Pay and account alerts.
  • Card issued by Merrick Bank, Member FDIC.

Card Fees

  • Foreign Transaction Fee

    2%

  • Balance Transfer Fee

    N/A

  • Cash Advance Fee

    4% Min: $10

Additional Card Details

  • $0 Fraud Liability

    No

  • Auto Rental Insurance

    No

  • Extended Warranty Program

    No

  • Roadside Assistance

    No

  • Purchase Protection

    No

  • Travel Assistance

    No

  • Flight Accident Insurance

    No

  • Lost Luggage Reimbursement

    No

  • Concierge Service

    No


Expert Reviews

  • Regular APR

    4.0

  • Intro APR

    0.0

  • Fees

    3.0

  • Benefits

    4.0

  • Overall Rating

    3.5 /5

From the LendingTree.com Editorial Team

This secured credit card offers a credit line equal to the size of the deposit you put down up to $3,000. Not all secured credit cards report to all three major credit bureaus, which is a plus for this offer and gives you the opportunity to build positive credit history when you pay your bills on time. After the first year Merrick Bank will automatically review your account for credit line increases with no security deposit required.

The Bottom Line

This card is designed for people who want to build or rebuild their credit. When used responsibly, this secured card could be a valuable tool to improve your credit and allow you to then get a better card. Monitor progress in your FICO® Score each month for free.

The Good

As long as you don’t have a pending bankruptcy or outstanding tax obligations you may be approved for this card.

The Not So Good

Other cards may review your account earlier than one year to see if you can transition to an unsecured credit line.


Editorial Note: This content is not provided by Merrick Bank. Any opinions, analyses, reviews, or recommendations expressed on this page are those of the author’s alone, and may not have been reviewed, approved or otherwise endorsed by Merrick Bank.

Expert Reviews of the Merrick Bank Secured Visa® Credit Card

  • Regular APR

    4.0

  • Intro APR

    0.0

  • Fees

    3.0

  • Benefits

    4.0

  • Overall Rating

    3.5 /5


Consumer Reviews 2 Reviews

Offer Rating

3.0 out of 5.0

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