Merrick Bank Credit Cards


Updated: July 15, 2019


Merrick bank online logo

Merrick Bank is a completely online bank that offers secured credit cards to its customers. And even though the credit cards of this bank tend to be highly popular nowadays, there are reasonable grounds regarding whether these cards are worth applying. In this review, we will disclose all important details about the Merrick Bank credit cards, provide guides how to access your credit card or apply for it online.

Best Credit Cards from Merrick Bank

As one might see from the bank’s website, Merrick Bank offers only two types of credit cards – both of them are aimed at customers with a low credit score. And while they can be a solution for such customers, there are definitely far better options on the market. Considering that Merrick Bank cards come with hefty fees and staggering APR, they offer little-to-none value to the customers.

Merrick Bank Secured Visa Credit Card

Merrick Bank Secured Visa Credit Card

Annual fee: $36 for the first year, then $3 per month.

Purchase APR: 18.95%.

Recommended credit score: from 580 to 850.

Most suitable for: customers who are seeking to get any credit card for rebuilding their credit history.

Credit card features:

Apply Here

 

If you haven’t received a preapproval letter in the mail, then the chances are that you will have access only to the most basic credit card from Merrick Bank – Merrick Bank Secured Visa Card. This Merrick Bank card has very few features to offer, but might be useful to the customers who have an incredibly low credit score.

Let’s begin with the basics. Merrick Bank Secured Visa Card is actually – and it can be understood from the card’s name – a secured card, which means that you can spend as much money as you had deposited before. This means that this credit card is definitely aimed at the customers with a low credit score – this can be manifested in the low credit score requirements (read above). But that also comes with an astonishing annual fee of $36 during the first year – that is almost equal fee that is charged by Capital One for its Quicksilver Cash Rewards Card.

But unlike Quicksilver Cash Rewards Card which offers generous rewards and benefits, this credit from Merrick Bank barely has anything to offer. Those features that are listed on the website of Merrick Bank are, to say the least, nothing special. They barely provide any value to the customers. The only worthwhile feature out there is, perhaps, the automatic consideration of extending a credit line, but this credit card is definitely not worth it.

Apart from that feature, there is nothing else to point out – except of the high APR, which hasn’t been publicly disclosed by Merrick Bank. As a matter of fact, you don’t get to know the information about the APR and fees as long as you don’t proceed to the application process, which just shows that the company is not transparent about its fee structure and policy.

Indeed, this credit card was created for the needs of individuals who have been struggling to pay off their outstanding debt and have a poor credit history. However, this credit card falls short in helping such customers. Instead of giving at least some slight benefits (like a 6-month long intro APR period or 0.25% cash back rewards rate), it even charges an annual fee. Thus, even if you have a disastrous credit score, it would be far better to apply for another secured credit card – the one that doesn’t charge skyrocketing fees and with a reasonable APR.


Merrick Bank Platinum Visa Credit Card

Merrick Bank Platinum Visa Credit Card

Annual fee: Up to $96 for the first year, then up $8 per month.

Purchase APR: from 20.45% to 29.95%.

Recommended credit score: from 580 to 850.

Most suitable for: customers who are seeking to get any credit card for rebuilding their credit history.

Credit card features:

Apply Here

 

Perhaps, Merrick Bank Platinum Visa Credit Card had been planned to be an enhanced version of the standard secured Visa card (which we had just reviewed above). Considering that only approved customers can apply for this Merrick credit card, that can be stated with a guaranteed certainty. However, there may be justified doubts regarding the outcome. As in the case with the previous credit card from Merrick Bank, Platinum Visa Card is characterized by a disastrous mix of no-usesul features and staggering, abundant fees.

It is worth to point out the differences of these two credit cards from Merrick Bank. The main advantage – which is, however, somewhat doubtful – of the Platinum card is that it allows you to double your credit line if you meet your payment deadlines for 7 months in a row. That means that if you, for example, secured $500, you will be able to “enjoy” the credit line of $1,000. Basically, that is the main difference between these two credit cards.

What is not less important and must be stressed for sure is the difference in the APR of these two credit cards from Merrick Bank. And while the APR of the previous credit card was “mere” 18.95%, the APR of this credit card starts from 20.49% and may reach even up to 29.95%. That is quite a doubtful improvement of the credit card for sure.

And while the requirements for this credit card haven’t been noticeably raised (or, at least it has not been reported so), what definitely changed is the amount of fees you are likely to pay. First of all, the annual fee will depend on your credit score and may amount to up to $8 per month (or $96 per year), which is definitely a ridiculous sum. Secondly, you are likely to be charged a credit card setup fee of up to $75. An issuance of a new credit card will also come with a fee of $12. Definitely, such “fee harvesters” will not help you to build a better credit score.

In regards to the other features of this Merrick credit card, they do not differ between the two credit cards at all. Same as in the case with the previous card, you will get a free monthly update of your FICO score. You will also have a zero fraud liability feature, which means that you are not responsible for an unauthorized access to your card/account. From time to time, the credit will be reviewed for possibility of extending a credit line automatically. But does all this worth an annual fee of up to $96?

As a result, the Merrick Bank credit cards do not seem to bring a great deal of value to the customers. They offer very few worthwhile features (or, it would be better to say “none features”), while charging ridiculous fees and having a staggering APR. Yes, the cards can be applied for by the customers with extremely low credit scores, but even they can find something better. There is an abundance of secured credit cards on the market, and they offer far conditions and features than the credit cards from Merrick Bank do.


How to Log In To Merrick Credit Card Account

If, after all, you have got a credit card from Merrick Bank, you can manage that credit card online. That will allow you to pay bills, make transactions, or view and download credit card statements without getting out of your home. But before you will be able to do that, you should make sure that you have signed up for the Merrick Bank online banking system. This article will show you how to access your credit card account with this bank.

This is the way how you can log in to your credit card account with Merrick Bank:

  • In the first place, you have to launch a new tab in your browser and go to the following webpage: https://merrickbank.com/.

best merrick bank credit cards

  • On the main webpage of this bank’s website, you will notice that online banking form, placed on the right side. Now, you can start accessing your credit card account right in that form.
  • At first, you should type your username in the first field.
  • Following it, type the password of your online banking account in the second field of that form.

best credit cards from merrick bank

  • You are also able to save your username for future sessions simply by checking the box next to “Remember Me.”
  • Eventually, you can click on the “LOG IN” button and access your credit card account with Merrick Bank.

How to Apply For a Merrick Credit Card Online

Considering that Merrick Bank actually does not have physical offices and branches, you can apply for a credit card from this bank only through the web. And while this may be somewhat inconvenient to some customers, the entire process does not tend to be difficult. In this part of our review, we will disclose how to apply for a credit card from Merrick Bank right on its website.

In this simple way, you can apply for a credit card from Merrick Bank online:

log in to Merrick Bank credit card account

  • On the website of Merrick Bank, you will notice a main menu, placed at the top of it. You need to click on the “Products” menu item.

top-tier merrick credit cards

  • In the dropdown menu section that you have just triggered, you have to click on “Credit Cards.”
  • Right after that, you will be redirected to the page of Merrick Bank credit cards. There, you should select either “Platinum Visa” or “Secured Visa.”

how to apply for merrick credit card online

  • Following it, you have to click on the “APPLY NOW” button, placed right near that credit card.

merrick bank application process step by step

  • On the next page, you will get to see a short description of the selected credit card. At that point, however, you should click on the green “Apply Now!” button.

how to get merrick bank credit card

  • Right after that, you will get to see the application form – you have to fill out that form.
  • Once you have filled out the form, you should scroll down and click on the “continue to next step” button.

where to apply for merrick card

  • Eventually, you will be asked to complete a few more steps (such as providing your financial information). Once you will have that procedure finished, you can wait a response, whether you have been approved or denied for getting the selected credit card.

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