Yes, Merrick Bank is a legitimate credit card company that issues real credit cards. It is a top 20 VISA credit card issuer with nearly three million customers, specializing in helping customers build, or rebuild their credit.
All Merrick Bank credit cards benefit from zero liability protection, so you won’t be held responsible for unauthorized charges made with your card or account information.
The Merrick Bank Classic Secured Credit Card (their most popular offering) is a good way to start building or rebuilding your credit, as it is open to applicants with Bad credit. It does have an annual fee ($36 1st yr, $0 after), which gets replaced by a monthly fee ($0 1st yr, $3 after) on your first account anniversary, but it only requires a minimum refundable security deposit of $200. Your deposit acts as your credit line and you can add to it whenever you like, up to the maximum amount allowed.
Yes, Merrick Bank does offer an unsecured credit card, the Merrick Bank Credit Card. This card is sometimes referred to as the “Double Your Line Visa,” because it offers the opportunity to double your credit limit if you pay on time for the first 7 months the account is open.
The Merrick Bank Credit Card is available to people with bad credit, but only people who have been pre-qualified can apply. If you haven’t already received a pre-qualified offer from Merrick Bank by mail, you can check if you’re pre-qualified online.
Merrick Bank Credit Card fees and APRs to keep in mind:
The Merrick Bank Credit Card comes with an annual fee of $0 - $72 1st yr, $0 after, depending on your credit standing. The card may also charge a one-time fee, as well as a monthly fee. Plus, this card’s APR on purchases can be as low as 20.2% (V) and as high as 30.45% (V), once again, depending on your overall credit standing. You’ll be able to see all of the details once you receive a pre-qualified offer. You can read the terms over before deciding to apply.
What to do if you don’t get the Merrick Bank unsecured credit card:
If you don’t pre-qualify for the Merrick Bank Credit Card, you could get the Merrick Bank Double Your Line® Secured Credit Card. This card is also marketed toward people with bad credit. It’s easy to get approved for, though, because it requires a refundable security deposit of at least $200. The amount of your deposit determines the credit limit. The annual fee is: $36 1st yr, $0 after. This card’s APR is 18.2% (V).
Ultimately, it’s worth noting that there are several unsecured credit cards with lenient approval odds on the market. You could check out our editors’ latest picks for the best unsecured credit cards for bad credit to weigh your options.
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