Credit Cards

Merrick Bank Credit Card Review | The Pros and Cons

merrick-bankCredit card advertisements are everywhere, and in some cases, those ads can be somewhat deceptive. You can make a smarter, more informed decision by reading reviews of the credit cards you’re considering — especially if the credit card issuer is a new player on the credit card market.

One such newcomer to the credit card market is Merrick Bank. If you’re looking to open a new credit card with Merrick Bank, this review can help you learn the advantages and disadvantages of choosing this card option.

Merrick Bank Credit Card Overview

Merrick Bank is a recently established bank in the United States. While it is not a long-standing bank, Merrick has distinguished itself as a top-20 issuer of Visa credit cards. The Merrick Bank Visa Credit Card is available to Merrick Bank customers.

Merrick offers both regular Visa and Mastercard credit cards, as well as a secured Visa you can apply for on the Merrick site. The regular, non-secured credit cards are only available for customers who receive an invitation to apply via the mail. This review is primarily about the secured card.

Merrick credit cards can be used throughout the United States to make purchases and draw money out of ATMs. If there are issues with your credit card, Merrick Bank also has a customer service line that operates 24 hours a day, seven days a week. To apply for this credit card, your credit does not need to be perfect.

The Advantages

Blemished Credit is Not a Problem: Most Americans have less than perfect credit. Low credit makes it extremely difficult to attain a credit card at most banks. One of the main advantages of a credit card issued by Merrick Bank is that the bank will still issue you a credit card if you have blemished credit. By providing individuals with the opportunity to take out a credit card, Merrick Bank is basically helping people rebuild their credit and increase their credit score. Keep in mind though that this credit card is only good if you are serious about rebuilding your credit because if you pay late, there are very high fees involved.

You Choose Your Credit Limit: The next advantage of a Merrick Bank Credit Card is that it allows you to choose the limit you want to set on your card. The limit typically ranges from $200 to $3,000, which is great for those that are looking to spend either very little or a lot a month. Merrick Bank also allows you to choose which payment option is most convenient for you. If you pay late, you are required to pay a fee of $35.

Managing Your Account: Lastly, another advantage of this card is that you can manage your account online. When you sign up for CardHolder Center, you will be able to make payments, view your purchase history, and even see the FICO score associated with your account.

The Disadvantages

Annual Fee Anytime: The first disadvantage to this Merrick Bank Credit Card is that an annual fee can be imposed on your account. For long term customers that choose to take out a credit card with the bank, an annual fee can be imposed without warning.

Customer Service: For many people that use banks, customer service is extremely important. In Merrick Bank’s case, the customer service is known to be less than stellar. If you do not call the helpline a great deal or if you do not mind customer service that is somewhat lacking, then Merrick Bank’s customer service issue should not be a problem. However, if customer service is a priority for you when choosing a card, then Merrick Bank may not be the best option.

Overall, Merrick Bank’s credit card is great for individuals who have a low credit score and would like to repair their credit. The card is very easy to get, the online account management tool is easy to use, and the bank is always available on their customer service line. While the customer service line may be below par, you can still expect to have your inquires answered in a timely manner.

One Comment

  1. To building my bad to better credit.

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