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Merrick Bank Secured Visa® from Merrick Bank

in Personal Credit Cards from Merrick Bank

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Merrick Bank Secured Visa® from Merrick Bank

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in Personal Credit Cards from Merrick Bank

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Highlights
Highlights
Balance Transfer APR  (Variable APR) N/A
Credit Score Range N/A
Annual Fee $36
Purchase APR  (Variable APR) 18.95%

Merrick Bank Secured Visa® from Merrick Bank Review

Merrick Bank Secured Visa® from Merrick Bank is a secured credit card credit card issued by Merrick Bank. If you're wondering whether Merrick Bank Secured Visa® from Merrick Bank is the right card for you, read on. This is everything you need to know to make a good choice.

Key takeaways:

  • High APRs. This is not a great card for people who carry a balance. It has a variable purchase APR of 18.95%
  • Charges foreign transaction fees. Avoid using this card when traveling abroad because it charges a commission of 2% every time you make a transaction outside the U.S.
  • Secured card. This card requires a refundable deposit before you qualify for a line of credit. These cards are often used to improve the credit of people with poor credit or little credit history.

Merrick Bank Secured Visa® from Merrick Bank Pros and Cons:

The Good The Bad
  • If the account is paid responsibly, this can have a positive impact on improving the customer's credit rating.
  • Credit lines range from $200-$3,000 depending on the amount of the deposit.
  • Free access to your credit score.
  • Merrick Bank Secured Visa® from Merrick Bank reports to multiple credit bureaus.
  • Customers who don't pay off their balance each month are paying interest on their own deposit.
  • Higher than average purchase APRs.
  • Charges an annual fee of $36
  • Does not offer a signup bonus.
  • Does not offer rewards or cash back.
  • Charges a foreign transaction fee of 2%.
  • You don't earn rewards on every purchase.
  • Does not include many credit card rewards.

Is there a Merrick Bank Secured Visa® from Merrick Bank cash back or rewards program?

No, Merrick Bank Secured Visa® from Merrick Bank does not offer a rewards program.

What are the Merrick Bank Secured Visa® from Merrick Bank benefits?

Merrick Bank Secured Visa® from Merrick Bank provides the following benefits:

  • Free Credit Score
  • Zero fraud liability
  • Reports to major credit bureaus

What are the relevant APRs for Merrick Bank Secured Visa® from Merrick Bank?

According to the Federal Reserve Board, the average interest rate is 15% for all credit cards and 17% for accounts that carry a balance. Merrick Bank Secured Visa® from Merrick Bank has higher than average purchase APRs.

Merrick Bank Secured Visa® from Merrick Bank has a variable purchase APR of 18.95%. It also has a variable cash advance APR of 23.95% .

Does Merrick Bank Secured Visa® from Merrick Bank have an introductory APR offer on balance transfers?

No, Merrick Bank Secured Visa® from Merrick Bank does not come with an introductory APR offer for balance transfers.

Does Merrick Bank Secured Visa® from Merrick Bank have an introductory APR offer on new purchases?

Merrick Bank Secured Visa® from Merrick Bank does not offer an introductory rate on new purchases.
Merrick Bank Secured Visa® from Merrick Bank Purchase Intro Offer
Description
Introductory Rate N/A
Purchase Intro APR Period (months) N/A

What are the fees for Merrick Bank Secured Visa® from Merrick Bank?

The following fees apply to Merrick Bank Secured Visa® from Merrick Bank:

  • There is no overlimit fee
Merrick Bank Secured Visa® from Merrick Bank Fees
Fees Amount
Annual Fee $36
Overlimit Fee $0
Foreign Transaction Fee 2%
Returned Payment Fee up to $40
Late Payment Fee up to $40

Does Merrick Bank Secured Visa® from Merrick Bank have a foreign transaction fee?

Merrick Bank Secured Visa® from Merrick Bank charges a foreign transaction fee of 2%. For example, if you spend $2,000 on a week vacation abroad you would pay a foreign transaction fee of $40. If you travel abroad you may want to leave this card at home and apply for one that doesn't charge a foreign transaction fee.

Does Merrick Bank Secured Visa® from Merrick Bank report your account activity to credit bureaus?

Merrick Bank Secured Visa® from Merrick Bank 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 can help improve your credit score.

How to apply for Merrick Bank Secured Visa® from Merrick Bank

  • Visit the Merrick Bank Secured Visa® from Merrick Bank 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 you're denied click here to find out why your application may have been rejected and what you can do about it.

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...

Contact

  • Headquarters
  •   10705 South Jordan Gateway
    Suite 200
    South Jordan, UT 84095
  •   Visit Site

Message from Merrick Bank

Annual Fee: $36 the first year. Billed $3 per month thereafter.

About Merrick Bank Secured Visa® from Merrick Bank

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Availability

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

Feature Breakdown

Over-Limit Fee $0
No Interest Grace Period for Late Payment 25 days
Paper Statement Fee $0
Cash Advance Fee Minimum $10
Cash Advance Fee (%) Up to 4%
Minimum Cash Advance Fee ($) Starting at $10
Foreign Currency Transaction Fee 2%
Annual Fee $36
Minimum Interest Charge $1
Returned Payment Fee Up to $40
Late Fee Amount Up to $40
Customer Type Personal
Minimum Age 18
Military Status
  • Active Duty Military
  • Military Dependent
  • Non-Military
  • Veterans
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Retired
  • Self-Employed
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Card Type
  • Bad Credit
  • Secured
Card Network Visa
Credit Bureau Reporting
  • Equifax
  • Experian
  • TransUnion
Fraud Liability  
Credit Card Benefits
  • Fraud Liability
  • Free Credit Score
Free FICO Score  
Rewards Type No Rewards
Security Deposit $200 - $3,000
Cash Advance APR (Variable APR) 23.95%
Balance Computation average daily balances (including new purchases).
Purchase APR (Variable APR) 18.95%

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