No, Merrick Bank does not charge a balance transfer fee because Merrick Bank does not offer any credit cards that allow balance transfers right now. Fortunately, most major card issuers do have balance transfer credit cards, and some will even offer a 0% introductory APR for transferred balances. But there are very few offers for credit cards with no balance transfer fee.
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.
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.
The highest credit limit for Merrick Bank is $3,000, for the Merrick Bank Secured Card. The actual credit limit for this card is determined by the amount a cardholder puts down for the card’s required security deposit, which starts at $200.
Merrick Bank does not disclose its highest credit limit for the unsecured Merrick Bank Credit Card. The card does set an initial credit limit ranging from $550 to $1,350 upon approval, though. The information on your application will determine where within the range your exact credit limit will be.… read full answer
Fortunately, the initial credit limit you receive with the Merrick Bank Credit Card may only be for the short-term, thanks to the card’s “Double Your Line” feature. After you use the Merrick Bank Credit Card and pay at least the minimum amount due on time for the first seven months you have the card, you’ll be eligible for the double credit line increase.
Phone: You can also make a credit card payment over the phone at (800) 204-5936. You will have the option to either speak with an agent or use the automated system.
Mail: For a regular mail, the address is:
Merrick Bank P.O. Box 660702 Dallas, TX 75266-0702
Overnight mail payment
Merrick Bank Attn: Lockbox Operations #660702 2701 East Grauwyler Road, BLDG 1 Irving, TX 75061
Money services: Lastly, you can visit your nearby money services counter at retail locations (such as Walmart, Kroger or others). You may use MoneyGram, Western Union or other forms of electronic payments with cash to send your payment.
Keep in mind that paying your credit card via regular mail takes the longest to process of all the available payment methods. So, make sure to always send your payment at least 5-7 days before your due date.
Ultimately, it is also worth noting that you can even set up recurring or one-time payments in the Cardholder Center, if you choose to.
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