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 Platinum Visa is available to people with bad or no 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 does not list APRs or fees for the 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 Platinum Visa, the only Merrick credit card you will be able to get is the Merrick Bank Secured Visa. It is also marketed toward people with bad, limited or no credit. 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 for the first year. But after that, the fee is charged in installments of $3 every month. The Secured Visa’s APR is 19.7% (V).