What is the Merrick Bank Classic Secured Card APR? This question is about the Merrick Bank Classic Secured Credit Card

What is the Merrick Bank Classic Secured Card APR?

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This question is about the Merrick Bank Classic Secured Credit Card

John Miller, Credit Cards Moderator

@john_miller • 11/23/22 This answer was first published on 11/23/22. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

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The Merrick Bank Secured Card APR is 21.95% (V). The regular interest rate is variable, meaning it can change based on certain economic conditions.

The Merrick Bank Secured Card gives you a 25 days grace period to avoid paying interest on your purchases. The grace period runs from the end of the billing period until the card’s payment due date. You won’t owe any interest as long as you pay your balance in full during that timeframe. Should you decide to carry a balance on your Merrick Bank Secured Card, it will accumulate interest daily at the card’s regular APR. Interest is compounded, meaning you will owe interest on both the principal balance and any interest already accumulated.

In addition to the regular interest rate, the Merrick Bank Secured Card also charges a separate 26.95% (V) interest rate on cash advances. All interest rates will be listed on your monthly statement.

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