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 Secured Visa 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.
There is only one Merrick Bank unsecured credit card: the Merrick Bank Platinum Visa. 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 Platinum Visa is available to people with bad, 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 … read full answeronline.
Merrick Bank does not list APRs or fees for the Merrick Bank Platinum Visa on their website. But 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.
If you don't pre-qualify for the Merrick Bank Platinum Visa, the only Merrick credit card you will be able to get is the Merrick Bank Secured Visa Card. It is also marketed toward people with bad. It's easy to get approved for because it requires a refundable security deposit of at least $200, up to a maximum of $3,000. The amount of your deposit determines the credit limit. The annual fee is: $36 1st yr, $0 after. This card's APR is 17.45% (V).
You can get a Merrick Bank Secured card credit limit increase after 6 months from the time you were approved. If they approve you, you'll be able to add more money to the security deposit. To start, simply call the Merrick Bank customer service department at 800-253-2322.show less
WalletHub Answers is a free service that helps consumers access financial information. Information on WalletHub Answers is provided “as is” and should not be considered financial, legal or investment advice. WalletHub is not a financial advisor, law firm, “lawyer referral service,” or a substitute for a financial advisor, attorney, or law firm. You may want to hire a professional before making any decision. WalletHub does not endorse any particular contributors and cannot guarantee the quality or reliability of any information posted. The helpfulness of a financial advisor's answer is not indicative of future advisor performance.
WalletHub members have a wealth of knowledge to share, and we encourage everyone to do so while respecting our content guidelines. This question was posted by a WalletHub user.
Please keep in mind that editorial and user-generated content on this page is not reviewed or otherwise endorsed by any financial institution. In addition, it is not a financial institution’s responsibility to ensure all posts and questions are answered.
Ad Disclosure: Certain offers that appear on this site originate from paying advertisers, and this will be noted on an offer’s details page using the designation "Sponsored", where applicable. Advertising may impact how and where products appear on this site (including, for example, the order in which they appear). At WalletHub we try to present a wide array of offers, but our offers do not represent all financial services companies or products.