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  Merrick Secured Visa

Merrick Secured Visa

in Personal Credit Cards from Merrick Bank

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Merrick Secured Visa

Unaffiliated

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) Starting at 19.7%

Merrick Secured Visa Review

Merrick Secured Visa is a secured credit card credit card issued by Merrick Bank.  If you're wondering whether Merrick Secured Visa 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 starting at 19.7%
  • Charges foreign transaction fees. Avoid using this card when traveling outside the U.S. 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.
The Good The Bad
  • If the account is paid responsibly, this can have a positive impact on improving the customer's credit rating.
  • Customers who are unable to qualify for other credit cards have a chance to be approved for this one.
  • Merrick Secured Visa reports to multiple credit bureaus.
  • Free access to your credit score.
  • The first year comes with a $36 annual fee, taken out of the customer's deposit.
  • 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 Secured Visa cash back or rewards program?

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

What are the Merrick Secured Visa benefits?

Merrick Secured Visa provides the following benefits:

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

What are the relevant APRs for Merrick Secured Visa?

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 Secured Visa has higher than average purchase APRs.

Merrick Secured Visa has a variable purchase APR starting at 19.7% . It also has a variable cash advance APR starting at 24.7% .

Does Merrick Secured Visa have an introductory APR offer?

Merrick Secured Visa does not offer an introductory rate on new purchases.
Merrick Secured Visa Balance Transfers
Description
Balance Transfer APR N/A
Introductory Rate N/A
Intro APR period (months) N/A
Merrick Secured Visa Rates & Terms
Description
Balance Computation average daily balance
Purchase APR Starting at 19.7%
Credit Limit N/A
Penalty APR N/A
Cash Advance APR Starting at 24.7%
Introductory Rate N/A
Intro APR period (months) N/A

What are the Merrick Secured Visa fees?

The following fees apply to Merrick Secured Visa:

  • There is no overlimit fee
Merrick Secured Visa Fees
Fees Amount
Annual Fee $36
Overlimit Fee $0
Foreign Transaction Fee 2%
Returned Payment Fee up to $39
Late Payment Fee up to $39

Does Merrick Secured Visa have a foreign transaction fee?

Merrick Secured Visa 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 Secured Visa report your account activity to credit bureaus?

Merrick Secured Visa 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 Secured Visa

  • Visit the Merrick Secured Visa 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 USA
  •   Visit Site

Message from Merrick Bank

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

About Merrick Secured Visa

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View all personal credit cards offered by Merrick Bank

Availability

Alaska Alabama Arkansas Arizona California Colorado Connecticut Washington, D.C. 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
  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
Paper Statement Fee $0
Cash Advance Fee (%) Starting at 4%
Minimum Cash Advance Fee ($) Starting at $10
Foreign Currency Transaction Fee 2%
Annual Fee $36
Minimum Interest Charge $1
Returned Payment Fee Up to $39
Late Fee Amount Up to $39
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  
Cash Advance APR (Variable APR) Starting at 24.7%
Purchase APR (Variable APR) Starting at 19.7%
Balance Computation average daily balance

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