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Merrick Bank Secured Credit Card

merrick bank secured credit card
Required Credit Score:
Minimum. Security Deposit:
585 reviews   Write a Review
Info about the Merrick Bank Secured Credit Card has been collected by CardHub to help consumers better compare credit cards. The card issuer did not provide the details.
Existing Cardholders
Change my rating to: Excellent

Merrick Bank Secured Credit Card’s Key APRs & Fees

  • ANNUAL FEE $36 1st yr, None after
  • MONTHLY FEE None 1st yr, $3 after
  • REGULAR RATE 17.7% (V)
  • GRACE PERIOD 25 days

Merrick Bank Secured Credit Card’s Highlights

  • Upon approval, you'll have a credit line from $200 to $3,000 - it's up to you.
  • Your performance is reported to the three major credit bureaus. You can reestablish and build your credit with your performance.
  • Online management tools. You can manage your account online for free.
  • Your security deposit funds are FDIC Insured.
  • Based on an initial credit limit of $200, the initial available credit will be about $164 (based on a $36 annual fee) or about $152 dollars if you also choose to have an additional card.

Merrick Bank Secured Credit Card’s Additional Info

  • MAX LATE FEE   $38
  • SMART CHIP   Yes
    22.7% (V)
    4% (min $10)
Apply Now
at Merrick Bank’s
secure site

Customer Questions and Answers

Don't see what you're looking for? Submit your question about Merrick Bank Secured Credit Card to our community.

When do I pay the security deposit?

Photo of Card H.
Mar 8, 2016
You will need to pay the security deposit after submitting your application. The application will not be complete until funds from the security deposit have been collected by Merrick Bank. Hope this helps.
2 Votes 3 1

Do you offer or extend a real line of credit after a certain amount of time?

Photo of Card H.
Jan 14, 2014
Many credit card issuers will upgrade a customer's account from a secured credit card to an unsecured credit card after they have used the former responsibly for at least a year. Responsible use means never missing a payment and maintaining reasonable credit utilization (i.e. not maxing out your credit card). Most issuers won't make the upgrade proactively, though, which means you might need to request it. You can read more about switching from a secured card to an unsecured card in CardHub's Secured Card Guide
2 Votes 4 2

Customer Reviews

Share your insights and review the Merrick Bank Secured Credit Card.

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3.7 out of 5

585 reviews
Photo of Nikki L.
Jan 20, 2016
Merrick bank unsecured is one of the first cards that i got when building up my credit. I have never missed a payment so they have upped my limit several times. High interest card but if you pay it off monthly, not an issue. Here is where i was floored: for the first time since opening the card, I needed a replacement card, due to me damaging the card. They charged me $15 to replace it. I have several other cards. I have never been charged to replace it. You would think with a $15 charge they would at least over night it. Nope. That costs $49. A good customer more
Photo of Jr. M.
Dec 17, 2015
HORRIBLE!! Been with them for years and every time I make any large payment I have to wait for a week to use the credit line. I have never had an nsf check to them. And the attitude of the people is crap. All they say is
" that's just the policy".
Photo of Bob L.
Dec 3, 2015
Merrick Bank is terrible. This unsecured card will not stand behind its customers relative to vendor disputes. Customer service is rude and useless. DO NOT GET THIS CARD !
Photo of Joe M.
Jan 6, 2015
I like this specific secured credit card, because of the rather large positive effect it has had on my overall credit score. Also I was easily pre-approved for a 3000$ credit line which was extremely easy.
Photo of Danica S.
Aug 9, 2014
This is a great credit card company and would do business with again, but the only problem that I had last year when I had the card is that I ended up closing my account due to a misrepresentation about the secured visa card from merrick bank based on what a representative there told me.
Photo of Bianca H.
Jun 5, 2014
This is not a credit card, it’s a secured credit card which means you have to put down a deposit amount that you want to make your credit limit. Most secured cards require no less than a $300 deposit and have “processing fee’s” when you apply (First Premier). This one does not. This is great for establishing credit and payment history (reports to all 3 bureaus). The annual fee is high, $36, but the best option for those who don’t have great credit.
Photo of Sarah N.
Nov 28, 2013
This card is another must have when you comes to those that need a jump start on rebuilding their credit! I made a few mistakes when I was young but this card has helped me rebuild my credit. The APR is actually decent! And the limit is equally nice (it allowed me additional financial freedom). I love using this card when we travel to pay at the gas pumps. They have one of the best fraud protection packages available and being military we move A LOT!! I am so glad I found this card! Just make sure you make your payments on time and after six months they will up more
Photo of Marilyn B.
Aug 10, 2014
Is this the secured visa or the unsecured?
Photo of Card H.
Aug 11, 2014
This is a secured credit card.
Photo of Matthew D.
Jun 10, 2016
do you actually use up to your deposit amount? Or do you have to maintain a daily balance?
Photo of Joshua R.
Nov 19, 2013
This is a great card for someone who really wants to try to get their credit back on track. They gave me a fairly substantial credit limit -- more than any of the other cards I had up to that point. The interest fee is very, very reasonable. I was expecting much higher when I got my first bill, but it was surprising to see it so low, and it hasn't budged since then. I had one time when I couldn't pay my bill on time and I called customer service, who were kind enough to give me an extension with no issue. I can't say that I have any more
Photo of Laurie J.
Oct 4, 2012
I love love LOVE My Merrick card. I never thought anyone would ever give me a credit card, but I guess Merrick's target customer base is people who seem to be trying to rectify their credit mistakes, and they want to give them a chance to continue to rebuild their credit. I was a little hesitant at first when it came to getting the card because of the reviews I read, but common sense says that since most of the reviews were bad b/c the writers were peeved at Merrick b/c of late fees incurred b/c the payment was, in fact, late, that it was best to go ahead and more
Photo of Rachal L.
Oct 4, 2012
I have had a great experience using my credit card from Merrick bank. When I ordered it the card came really quick in the mail. I was given a great credit limit. Making payments is really easy also. All you have to do is send it through Western Union. There is also an option to transfer money from your bank account to your card which I think is really great. Whenever I have to call customer support on the phone I am always given and operator to speak to in a timely manner. I am never on hold for long while calling and everyone is always polite, nice, and help more
+575 users submitted a rating without a full review
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Last updated on: Aug 12th, 2016 at 5:50 EDT

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