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  Merchants Bank Visa Platinum ScoreCard-Merchandise

Merchants Bank Visa Platinum ScoreCard-Merchandise

in Personal Credit Cards from Merchants Bank

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Merchants Bank Visa Platinum ScoreCard-Merchandise

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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 Platinum ScoreCard-Merchandise Review

This is a rewards credit card issued by Merchants Bank. If you're wondering whether Merchants Bank Visa Platinum ScoreCard-Merchandise 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.
  • 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 oods if your credit score is above600.
Pros & Cons of Merchants Bank Visa Platinum ScoreCard-Merchandise
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.
  • 0% APR on new purchases during the first 6 months.
  • No annual fee.
  • Travel accident insurance.
  • Considers applicants with fair or poor credit.
  • Cardholders can earn rewards on purchases everywhere Merchants Bank Visa Platinum ScoreCard-Merchandise is accepted.
  • Merchants Bank Visa Platinum ScoreCard-Merchandise 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 Platinum ScoreCard-Merchandise FAQ

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

Merchants Bank Visa Platinum ScoreCard-Merchandise is a rewards card.

Merchants Bank Visa Platinum ScoreCard-Merchandise Rewards
Minimum rewards rate 1x
Max rewards rate N/A
Annual rewards limit N/A

Does Merchants Bank Visa Platinum ScoreCard-Merchandise have a signup bonus?

This card doesn't offer a cash signup bonus.

Does Merchants Bank Visa Platinum ScoreCard-Merchandise offer an annual loyalty bonus?

This card doesn't offer a cash loyalty bonus.

What are the Merchants Bank Visa Platinum ScoreCard-Merchandise 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-Merchandise?

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 Platinum ScoreCard-Merchandise 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-Merchandise 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-Merchandise have an intro APR offer on new purchases?

Merchants Bank Visa Platinum ScoreCard-Merchandise 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-Merchandise?

The following fees apply:

Merchants Bank Visa Platinum ScoreCard-Merchandise Fees
Fees Amount
Annual 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 Platinum ScoreCard-Merchandise have a foreign transaction fee?

Merchants Bank Visa Platinum ScoreCard-Merchandise 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 Platinum ScoreCard-Merchandise?

The Merchants Bank Visa Platinum ScoreCard-Merchandise customer service number is (507) 457-1100.

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

Yes, Merchants Bank Visa Platinum ScoreCard-Merchandise 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-Merchandise

  • Visit the Merchants Bank Visa Platinum ScoreCard-Merchandise 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

Every Purchase (Points) Starting at 1
Introductory Rate 0%
Purchase Intro APR Period (Fixed APR) 6 months
No Annual Fee
Annual 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
Card Network Visa

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