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  Merchants Bank VISA Classic ScoreCard

Merchants Bank VISA Classic ScoreCard

in Personal Credit Cards from Merchants Bank

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Merchants Bank VISA Classic ScoreCard

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in Personal Credit Cards from Merchants Bank

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Highlights
Purchase APR  (Fixed APR) Starting at 9.99%
Balance Transfer APR  (Fixed APR) Starting at 9.99%
Credit Score Range 600 - 850
Annual Fee $0

Merchants Bank VISA Classic ScoreCard Review

This is a rewards credit card issued by Merchants Bank. If you're wondering whether Merchants Bank VISA Classic ScoreCard is the right card for you, read on. This review will provide you with with all the details you need to make a good choice.

Key Takeaways
  • 0% APR balance transfer intro rate. Offers an introductory 0% APR rate on balance transfers for up to 6 months , which is shorter than the average 0% APR period of 12 months.
  • No annual fee*. This is a great option for people looking for a low-maintenance rewards card. It gives you rewards on your purchases, but you don't have to pay an annual fee for the privilege.
  • $0 Balance transfer fee. This card does not charge a fee on balance transfers. After the introductory period, the fee is 0%.
  • Charges foreign transaction fees. Avoid using this card when traveling abroad because it charges a commission of 1% every time you make a transaction outside the U.S.
  • Fair or better credit required. You will have good approval odds if your credit score is above 600.
Pros & Cons of Merchants Bank VISA Classic ScoreCard
The Good The Bad
  • Lower than average purchase APRs.
  • 0% APR balance transfer intro rate on balance transfers for up to 6 months.
  • No balance transfer fee.
  • No annual fee.
  • Travel accident insurance.
  • Considers applicants with fair or poor credit.
  • Cardholders can earn rewards on purchases everywhere Merchants Bank VISA Classic ScoreCard is accepted.
  • Merchants Bank VISA Classic ScoreCard reports to multiple credit bureaus.
  • Does not offer a signup bonus.
  • Charges a foreign transaction fee of 1%.
  • Does not include many credit card benefits.
Merchants Bank VISA Classic ScoreCard FAQ

Does Merchants Bank VISA Classic ScoreCard have a cash back or rewards program?

Merchants Bank VISA Classic ScoreCard is a rewards card.

Merchants Bank VISA Classic ScoreCard Rewards
Minimum rewards rate 1x
Max rewards rate N/A
Annual rewards limit N/A

Does Merchants Bank VISA Classic ScoreCard have a signup bonus?

This card doesn't offer a cash signup bonus.

Does Merchants Bank VISA Classic ScoreCard offer an annual loyalty bonus?

This card doesn't offer a cash loyalty bonus.

What are the Merchants Bank VISA Classic ScoreCard benefits?

It provides the following benefits:

  • Zero fraud liability
  • Travel Accident Insurance
  • Reports to major credit bureaus

What are the relevant APRs for Merchants Bank VISA Classic ScoreCard?

According to the Federal Reserve Board, the average regular APR is 15% for all credit cards and 17% for accounts that carry a balance. It has lower than average regular APRs.

It has a fixed purchase APR starting at 9.99% . The card has a fixed balance transfer APR starting at 9.99% . It also has a fixed cash advance APR starting at 14.99% .

Does Merchants Bank VISA Classic ScoreCard have an intro APR offer on balance transfers?

Yes, it offers an intro APR rate on balance transfers of 0% for a period of up to 6 months.

Merchants Bank VISA Classic ScoreCard Balance Transfers
Description
Balance Transfer Fee % After Intro Period Starting at 0%
Balance Transfer Introductory APR 0%
Balance Transfer Intro APR Period 6 months
Balance Transfer APR Starting at 9.99%
Balance Transfer Fee Minimum $0
Balance Transfer Fee % 0%

Does Merchants Bank VISA Classic ScoreCard have an intro APR offer on new purchases?

This card does not offer an intro APR rate on new purchases.

What are the fees for Merchants Bank VISA Classic ScoreCard?

The following fees apply:

  • There is no overlimit fee
Merchants Bank VISA Classic ScoreCard Fees
Fees Amount
Annual Fee $0
Overlimit Fee $0
Foreign Transaction Fee 1%
Returned Payment Fee up to $0

This card does not charge an annual fee, which makes it a smart choice for consumers looking for a low-cost rewards card.

Does Merchants Bank VISA Classic ScoreCard have a foreign transaction fee?

Merchants Bank VISA Classic ScoreCard charges a foreign transaction fee of 1%. For example, if you spend $2,000 on a week vacation abroad you would pay a foreign transaction fee of $20. If you travel abroad you may want to leave this card at home and apply for one that doesn't charge foreign transaction fees.

What is the customer service phone number for Merchants Bank VISA Classic ScoreCard?

The Merchants Bank VISA Classic ScoreCard customer service number is (507) 457-1100.

What is the support contact email for Merchants Bank VISA Classic ScoreCard?

The support contact email for Merchants Bank VISA Classic ScoreCard is ibsupport@merchantsbank.com.

Does Merchants Bank VISA Classic ScoreCard report your account activity to credit bureaus?

Yes, Merchants Bank VISA Classic ScoreCard reports your account activity to the following credit reporting agencies:

  • Equifax
  • Experian
  • Transunion

Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.

How to apply for Merchants Bank VISA Classic ScoreCard

  • Visit the Merchants Bank VISA Classic ScoreCard website.
  • Fill in the application form. You will typically need to provide general financial information, such as your Social Security Number, address, and annual income.
  • Check the information is accurate and submit your application.

If your credit score is preventing you from qualifying for this credit card, check out our guide for the best credit cards for bad credit.

SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Contact

Hours of Operation

  • Sunday Closed
  • Monday 7:00am - 2:00am
  • Tuesday 7:00am - 12:00am
  • Wednesday 7:00am - 2:00am
  • Thursday 7:00am - 2:00am
  • Friday 7:00am - 3:00am
  • Saturday Closed

Other Services by Merchants Bank

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Availability

  Available in 50 states and Washington, D.C.
  • Alaska
  • Alabama
  • Arkansas
  • Arizona
  • California
  • Colorado
  • Connecticut
  • Washington, DC
  • Delaware
  • Florida
  • Georgia
  • Hawaii
  • Iowa
  • Idaho
  • Illinois
  • Indiana
  • Kansas
  • Kentucky
  • Louisiana
  • Massachusetts
  • Maryland
  • Maine
  • Michigan
  • Minnesota
  • Missouri
  • Mississippi
  • Montana
  • North Carolina
  • North Dakota
  • Nebraska
  • New Hampshire
  • New Jersey
  • New Mexico
  • Nevada
  • New York
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Virginia
  • Vermont
  • Washington
  • Wisconsin
  • West Virginia
  • Wyoming

Feature Breakdown

No Annual Fee
Annual Fee $0
Over-Limit Fee $0
No Interest Grace Period for Late Payment 25 days
Returned Payment Fee Up to $0
Cash Advance Fee Minimum $3
Minimum Cash Advance Fee ($) Starting at $3
Foreign Currency Transaction Fee 1%
Late Fee Amount Starting at $7.80
Customer Type Personal
Minimum Age 18
Supported Income Types
  • Direct Deposit (W2, SSA, SSDI)
  • Cash
  • Payroll Check or Prepaid Card
  • 1099 Misc. Income
Military Status
  • Active Duty Military
  • Non-Military
  • Veterans
  • Military Dependent
Employment Statuses Considered
  • Other
  • Employed Full-Time
  • Employed Part-Time
  • Self-Employed
  • Retired
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Credit Score Range 600 - 850
Credit Bureau Reporting
  • Experian
  • Equifax
  • TransUnion
Credit Card Benefits
  • Fraud Liability
  • Travel Accident Insurance
Rewards Categories
  • Every Purchase
Cash Advance APR (Fixed APR) Starting at 14.99%
Balance Computation Average daily balance including new purchases
Purchase APR (Fixed APR) Starting at 9.99%
Balance Transfer Fee % After Intro Period Starting at 0%
Balance Transfer Introductory APR (Fixed APR) 0%
Balance Transfer Intro APR Period (Fixed APR) 6 months
Balance Transfer APR (Fixed APR) Starting at 9.99%
Balance Transfer Fee Minimum $0
Balance Transfer Fee % 0%
Card Type
  • Rewards
  • Low Interest
Card Network Visa

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