How much is the Merrick Bank Secured Card minimum payment?

The Merrick Bank Secured Card minimum payment is $35 or 1% of your balance plus any interest and fees, whichever is greater. If your balance is less than $35, your Merrick Bank Secured Card minimum payment equals the amount you owe.

It is also worth noting that your Merrick Bank Secured Card minimum payment will always be listed on your monthly statement. If you don’t want to wait until then, you can find what your minimum payment is by calling customer service at (800) 204-5936.

Here’s how much your Merrick Bank Secured Card minimum payment will be:

• Balance below $35: Minimum payment equals balance
• Balance of $35 - $3,500: Minimum payment equals $35
• Balance over $3,500: Minimum payment equals 1% of the balance, plus interest and fees

As long as you make your Merrick Bank Secured Card’s minimum payment by the due date each month, your account will remain in good standing. Try to always pay your monthly minimum on time, as this will help you improve your credit score. Having said that, keep in mind that you need to pay your balance in full every month to avoid interest.