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Merrick Bank Secured Credit Card full review: should you get it?

If you're looking for a card to build credit with a good credit limit, read our Merrick Bank Secured Credit Card review to learn more!

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Merrick Bank Secured Credit Card: build your credit

Merrick Bank Secured Credit Card
Learn all about the Merrick Bank Secured Credit Card. Source: Merrick Bank

The Merrick Bank Secured Credit Card is a product designed for anyone who needs to build or rebuild their own credit.

Merrick Bank logo

Merrick Bank Secured Card: check out how to apply!

Apply for the Merrick Bank Secured Card to get a high credit line of up to $3,000 and start building your credit score!

In fact, while you see your credit score growing, you can count on many advantages. Learn more about this card below:

Credit ScoreLow
Annual Fee$36 paid in one go for the first year. Next, $3 per month
Regular APR20.45% variable APR for purchases and 25.45% variable APR for cash advances
Welcome bonusNone
RewardsNone

Merrick Bank Secured Card: learn more about this financial product

Indeed, this card is designed for people who need to build or rebuild credit. Therefore, it has all the essential basic services for this purpose.

With this card, your payments are reported to the three largest credit agencies in the country. Plus, your security deposit must be between $200 to $3,000.

Also, this is a Mastercard card, accepted almost anywhere in the country.

Merrick Bank Secured Credit Card features

man holding green credit card
Learn more about the card’s pros and cons. Source: Merrick Bank

Indeed, this is a very popular card among people looking to boost their credit scores.

However, compared to other options on the market for the same purpose, we find the following advantages and disadvantages. See below!

What are the benefits? 

  • Great for building credit: reporter At the top 3 credit bureaus in the country;
  • Accepts applicants with bad credit scores for credit building or rebuilding;
  • Review of your credit limit.

And what are the drawbacks?

  • Annual fee collection;
  • 2% foreign transfer fee;
  • Requires a security deposit;
  • No welcome bonus or reward program;
  • You won’t get an automatic credit limit increase.

What credit score do you need to get the Merrick Bank Secured Credit Card?

Indeed, this card is designed for anyone who needs to build or rebuild credit. For this reason, we recommend it to people with bad credit. However, there is no set minimum score.

How does the Merrick Bank Secured Credit Card application process work?

Learn how to apply for this card without queueing or leaving your house. So, read our post below to learn about this card’s application process!

Merrick Bank logo

Merrick Bank Secured Card: check out how to apply!

Apply for the Merrick Bank Secured Card to get a high credit line of up to $3,000 and start building your credit score!

About the author  /  José Gonçalo

I started reading about finance only to find better options than savings. Since then, I have never stopped studying finance, and I believe that writing about it is the best way to help individuals feel fulfilled and have a healthy financial life. Today, I balance finance and medical school studies.

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