Merrick Bank Secured Visa® from Merrick Bank
Consumer Reviews, Fees, Credit Score, Application & Best Alternatives
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The Merrick Bank Secured Card is a credit card made specifically for people who are looking to rebuild or create a decent credit score. It is issued by Merrick bank, a reputable bank based in Utah. The card reports all of its statements to the 3 major credit bureaus, giving it the potential to either make or break your credit score. Having a well-secured credit card is essential in credit reparation strategies. This card is designed purposefully for that, and all of its features are based around credit repair. It has a high APR, fees, and initial deposit like most other secured credit cards, but also has a lot of redeeming features.
- 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 AutoPay and account alerts.
- Card issued by Merrick Bank, Member FDIC.
- Get up to $12,500 with Merrick Bank Personal Loan (Good, Fair, Poor Credit Accepted)
- Read Full Merrick Bank Secured Visa Review
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 Visa. 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 Visa 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 Visa.
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 Visa credit card.
Credit Card Benefits
The Merrick Bank Secured Visa comes with quite a lot of features and benefits, all of which are centered around repairing your credit score.
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.
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.
A great benefit of this card is its very high initial credit limit. While other cards might offer up to $1000, the Merrick Bank Visa card comes with an initial limit of $3000. This is already very high, but it has the potential to increase up to $10000.
The Merrick Bank Secured Visa 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.
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 couple of disadvantages when it comes to the Merrick Bank Secured Visa. There are disadvantages with any credit card meant for credit repair, and they mostly boil down to the high fees, APR rating, and the 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.
Dont forget to check Merrick Bank Double Your Line Platinum Card, too.
Should You Use This Card?
If you're looking to improve your credit score, you should consider using the Merrick Bank Secured Visa. 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.
Read the Review of Merrick Bank Secured Visa credit card.
Best Merrick Bank Secured Visa alternatives available for application
- A very high initial credit limit set to $3000
- Possibility to increase it to $10000
- Unparalleled approval ratings
- Free FICO viewing
- Easy application process
- Utilitarian mobile application
- No bonus, reward, or cashback policy
- High fees, APR, and deposit
- Slow card arrival
|Review:||Full Card Review|
Rates & Fees
|Introductory APR (%):||N/A|
|Regular APR Type:||Variable*|
|APR on Cash Advances:||22.45%*|
|Grace Period:||25 days*|
|Late Payment Fee:||Up to $40*|
Alternatives, Compare Merrick Bank Secured Visa® from Merrick Bank With Similar Offers
Merrick Bank Secured Visa® from Merrick Bank
Min. Credit Level
Bad Credit OK*