If you’re suffering from less-than-ideal credit, you’re in luck. The solution to your problem is a tidy little tool known as the Merrick Bank Secured Credit Card. Getting approved for this card is an absolute breeze, and the features that come with it are absolutely fantastic. This card has a couple of superb features but does come with a relatively high APR, deposit, and fees. If you can handle all of these expenses, you’re going to benefit quite a lot from this Mastercard-based card. Features, benefits, and the general design of this card are all centered on repairing your credit. If you’re looking to achieve financial bliss and improve your credit score, you should look no further than the Merrick Bank Secured Credit Card.
Who Is This Card for?
This card is for anyone who is suffering from a less-than-ideal credit score. If you’re going to improve your credit score, you’re going to need a suitable tool for the job. This card is one such tool and will help you improve your credit score in no time. It comes chock full of features that will help you either repair or build up your credit score. Approval ratings are very high, making sure you’re accepted into the Merrick Bank family. Merrick Bank is a bank based in Utah, and it’s extremely reputable. If you’re looking to take the right step to financial bliss and well-being, you can benefit a lot from using the Merrick Bank Secured Card.
What are Merrick Bank Secured Credit Card Benefits?
The Merrick Bank Secured card comes with quite a lot of features and benefits, all of which are centered around repairing your credit score.
Unparalleled approval ratings
One of the most prominent features when it comes to this card is the unparalleled approval ratings. After finishing the lightning-fast application process, you’re going to get approved within minutes. That is if all of your information checks out and if you have a credit score over 380.
Easy application process
While other “guaranteed approval” credit cards might guarantee approval, most of their minimal credit score requirements exceed 500. This is a bad credit score, but far from the worst that people have. If you have made some faulty decisions, you’re going to love this card.
High initial deposit of $3000
A great benefit of this card is its very high initial credit limit. While other cards might offer up to $1,000, the Merrick Bank Mastercard comes with an initial limit of $3,000.
Credit increase up to $10,000
The initial deposit is very high, and you have the potential to increase it up to $10,000.
Utilitarian mobile application
The Merrick Bank Secured card comes with a mobile application that is available for all smartphones. This allows you to monitor your credit score any time of the day and take your financial needs on the go.
Free FICO monitoring
If you’re looking to monitor your credit score closely, a free FICO monitoring option is available to you. You can see your credit score any time of the day, and in turn, gain motivation from it skyrocketing!
Are There Any Disadvantages?
There are a few disadvantages when it comes to the Merrick Bank Secured Credit Card.
High fees, APR, and deposit
The main drawbacks of this secured card are the high fees, APR rating, and initial security deposit. All of these fees might be pretty hard on your budget, but they’re industry standard when it comes to these kinds of cards.
There are also no bonuses at all
No cash back, bonus, reward, or miles features whatsoever. If you’re looking to get a rewards card but aren’t eligible for one, wait until you fix your credit score and apply for one. There is no rule against this, and you’re free to do as you like.
Slow card arrival
Customers report that plastic card arrives later than anticipated.
Other Merrick Bank Offers
Should You Use This Card?
If you’re looking to improve your credit score, you should consider using the Merrick Bank Secured Credit Card. It comes with a couple of essential features and benefits that make any credit-rebuilding strategy a complete breeze. If you have no prior credit history and are still looking to build up your credit score, you can do this with the card in question. Building up a good credit score is very important if you want essential things like insurance, mortgage, and credit options.
The biggest issue is the high fees, APR, and initial deposit that come courtesy of using a safe credit card. If you can not afford this, perhaps consider using a credit repair card. They come with fewer benefits and features, but they don’t have any initial deposit required.
Merrick Bank Secured Credit Card Alternatives
Frequently Asked Questions