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  Merchants Bank Visa Platinum ScoreCard-Cash Back

Merchants Bank Visa Platinum ScoreCard-Cash Back

in Personal Credit Cards from Merchants Bank

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Merchants Bank Visa Platinum ScoreCard-Cash Back

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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 Starting at $30

Merchants Bank Visa Platinum ScoreCard-Cash Back Review

This is a cashback credit card issued by Merchants Bank. If you're wondering whether Merchants Bank Visa Platinum ScoreCard-Cash Back 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.
  • 0% APR on new purchases. New cardholders receive an introductory 0% APR rate on new purchases for up to 6 months.
  • $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 Platinum ScoreCard-Cash Back
The Good The Bad
  • Potentially lower than average purchase APRs.
  • 0% APR balance transfer intro rate on balance transfers for up to 6 months.
  • No balance transfer fee.
  • 0% APR on new purchases during the first 6 months.
  • Travel accident insurance.
  • Considers applicants with fair or poor credit.
  • Merchants Bank Visa Platinum ScoreCard-Cash Back reports to multiple credit bureaus.
  • Charges an annual fee of up to .
  • Does not offer a signup bonus.
  • Charges a foreign transaction fee of 1%.
  • Does not include many credit card benefits.
Merchants Bank Visa Platinum ScoreCard-Cash Back FAQ

Does Merchants Bank Visa Platinum ScoreCard-Cash Back have a cash back or rewards program?

No, it does not offer a rewards program. This is a cashback card. This means you earn a percentage of your purchases as cash back rewards. You will receive 1% cash back on travel, dining, groceries, drugstore purchases, or any other purchase. For example, if you buy a $1,000 laptop, you will receive $10 back in cash.

What are the Merchants Bank Visa Platinum ScoreCard-Cash Back 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 Platinum ScoreCard-Cash Back?

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

Merchants Bank Visa Platinum ScoreCard-Cash Back 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 Platinum ScoreCard-Cash Back 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 Platinum ScoreCard-Cash Back 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 Platinum ScoreCard-Cash Back have an intro APR offer on new purchases?

Merchants Bank Visa Platinum ScoreCard-Cash Back Purchase Intro Offer
Description
Introductory Rate 0%
Purchase Intro APR Period 6 months

This card does offer an intro APR rate of 0% on qualified purchases for a period of up to 6 months.

What are the fees for Merchants Bank Visa Platinum ScoreCard-Cash Back?

The following fees apply:

Merchants Bank Visa Platinum ScoreCard-Cash Back Fees
Fees Amount
Annual Fee N/A
Foreign Transaction Fee 1%
Returned Payment Fee up to $0

Does Merchants Bank Visa Platinum ScoreCard-Cash Back have a foreign transaction fee?

Merchants Bank Visa Platinum ScoreCard-Cash Back 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 support contact email for Merchants Bank Visa Platinum ScoreCard-Cash Back?

The support contact email for Merchants Bank Visa Platinum ScoreCard-Cash Back is ibsupport@merchantsbank.com.

How do people rate the customer service and user experience of Merchants Bank Visa Platinum ScoreCard-Cash Back?

We currently don't have sufficient reviews to provide a reliable SuperMoney community rating for this product.

Does Merchants Bank Visa Platinum ScoreCard-Cash Back report your account activity to credit bureaus?

Yes, Merchants Bank Visa Platinum ScoreCard-Cash Back 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 Platinum ScoreCard-Cash Back

  • Visit the Merchants Bank Visa Platinum ScoreCard-Cash Back 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

Introductory Rate 0%
Purchase Intro APR Period (Fixed APR) 6 months
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%
Annual Fee Starting at $30
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
  • Cashback
Card Network Visa

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