Merrick Bank Secured Credit Card

Merrick Bank Secured Credit Card

Apply Now

on Merrick Bank's secure site

Merrick Bank Secured Credit Card

Apply Now

on Merrick Bank's secure site

Merrick Bank Secured Credit Card Review

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.

3.5

 

Rated 3.5/5.0 stars by our editorial team

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Our editors rate credit cards objectively based on the features the credit card offers consumers, the fees and interest rates, and how a credit card compares with other cards in its category. The ratings are the expert opinion of our editors, and not influenced by any remuneration this site receives from card issuers.

Merrick Bank Secured Credit Card

  Apply Now
Merrick Bank Secured Credit Card
Apply Now

on Merrick Bank's secure site

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Merrick Bank Secured Credit Card

SIGN-UP BONUS

None

REWARDS RATE

Non-rewards card

Credit Line

Upon approval, you’ll have an initial credit line based on your $200 -$3,000 deposit - It’s up to you!

Fraud Liability

$0 fraud liability for unauthorized charges.

Worldwide Acceptance

Use it anywhere Mastercard is accepted.

Annual Fee

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

Card Brand

Mastercard®

Recommended Credit Score

Limited/Poor

Highlights

  • 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. We report your payment history to all three major credit-reporting agencies.
  • 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 available Auto Pay and account alerts.
  • Card issued by Merrick Bank, Member FDIC.

Additional Info

Foreign Transaction Fee

2%

Balance Transfer Fee

N/A

$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

See your approval odds before you apply
There's no impact to your credit

Expert Review

Editor's Overall Rating

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Our editors rate credit cards objectively based on the features the credit card offers consumers, the fees and interest rates, and how a credit card compares with other cards in its category. The ratings are the expert opinion of our editors, and not influenced by any remuneration this site receives from card issuers.

3.5

         

From the LendingTree editorial team, updated on Mar 25, 2024

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 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.

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.


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.

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