Christie Matherne, Credit Card Writer
@christie_matherne
The Merrick Bank cash advance limit is equal to a portion of your overall credit limit, and you can find more details on your monthly statement or by calling Merrick Bank customer service. You'll also need to contact customer service to get a PIN if you're getting a cash advance at an ATM.
Key Things to Know About Merrick Bank Cash Advances
- Merrick Bank charges fees and separate interest rates for cash advances. Merrick Bank charges a fee of 4% (min $10) and an interest rate of up to 34.95% - 35.00% (V).
- There’s no grace period for Merrick Bank cash advances. The amount of cash you withdraw will start to accumulate interest right away, with no grace period.
- ATM fees and limits are possible. Out-of-network ATMs can get expensive. ATM owners typically charge a fee of around $2 - $5, and banks often charge their customers another $1 - $2 fee for using out-of-network ATMs on top of that. Different ATMs may have their own cash withdrawal limits, as well.
Due to their extremely high cost, cash advances should only be used for emergencies. To learn more, check out WalletHub’s guide to credit card cash advances.
Popular Credit Cards from Our Partners
James D Richard, WalletHub Analyst
@b2bfever
Your Merrick Bank cash advance limit will be a portion on your entire credit limit. Credit limits are individualized, so you can check it on your statement or by calling customer service at 800-204-5936.
It's important to mention that cash advances are really expensive, so they should be avoided.
shellymielke, Member
@shellymielke
I know mine is $500 but it would likely very with each indiviual account.
People also ask
What is a credit card cash advance limit?
A credit card cash advance limit is the maximum amount you can withdraw from the card’s full credit line as a cash advance. Cash advance limits often range from around 5% to 30% of your credit card limit, according to online reports, though the percentage can vary based on the card issuer.
The cash advance limit is also called cash credit line or cash access line, depending on the card issuer. They all refer to the...
read full answer by WalletHub, Financial CompanyWhat are my Merrick Bank credit card approval odds?
Your Merrick Bank credit card approval odds are pretty good as long as you aren't carrying too much debt and you don't have major red flags such as an ongoing bankruptcy on your credit report. You'll need enough income to pay your bills each month, too. Merrick Bank credit card applicants can get approved with a bad credit score of 639 or below, however, so even a low credit score shouldn't hold you back.
Credit...
read full answer by Chip Lupo, Credit Card WriterWhat is the highest credit limit for Merrick Bank?
The highest credit limit for a Merrick Bank credit card is $3,000. You can get the maximum Merrick Bank credit limit by placing a $3,000 deposit on the Merrick Bank Secured Card or by getting the unsecured Merrick Bank Credit Card and paying the bills on time for several months.
With the unsecured Merrick Bank Credit Card, the initial credit limit could be $300 to $1,350 when you're approved. The information on your application will determine where within the range...
read full answer by Chip Lupo, Credit Card WriterDid we answer your question?
Important Disclosures
Ad Disclosure: Certain offers that appear on this site originate from paying advertisers. For full transparency, here is a list of our current advertisers.
Advertising impacts how and where offers appear on this site (including, for example, the order in which they appear and their prevalence). At WalletHub we try to present a wide array of offers, but our offers do not represent all financial services companies or products.
Advertising enables WalletHub to provide you proprietary tools, services, and content at no charge. Advertising does not impact WalletHub's editorial content including our best picks, reviews, ratings and opinions. Those are completely independent and not provided, commissioned, or endorsed by any company, as our editors follow a strict editorial policy.