If you have no previous credit history or damaged credit due to previous mistakes, a secured credit card can be a tool to build a strong credit history or repair your credit. The Merrick Bank Secured Credit Card reports to the three major consumer credit bureaus, Equifax, Experian, and TransUnion.
| Positive points | Negative points |
|---|---|
| Initial line of credit up to $3,000 | Annual Rate |
| Automatic review of the credit line | 2% foreign transaction fee |
It offers a credit line of up to $3,000, based on the amount of your security deposit. It also offers several benefits, such as a monthly FICO credit score and zero fraud liability for unauthorized purchases.
As you show positive behaviors, it is possible to receive a credit increase without any additional deposit through periodic automatic credit line reviews. Customers also have access to their account online or via the mobile app.
| Benefits | |
|---|---|
|
Score
|
Free FICO credit score every month |
|
Fraud
|
Fraud coverage if your card is lost or stolen |
|
Access
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Access your account 24 hours a day |
|
Card
|
Card issued by Merrick Bank |
Initial Credit Limit Range
By offering a credit limit range of $200 to $3,000, it may be easier for higher limit cardholders to maintain a lower credit utilization rate when making purchases. Credit limits are based on the amount of your security deposit. Click the button below and apply for your card:
I Want My CardRewards Fee
This card does not yield rewards either. Instead, it focuses on providing access to credit and giving you the chance to show good credit habits. This can lead to better credit cards that come with enhanced features such as sign-up bonuses, cash back rewards, and introductory APR offers.
Is the Merrick Bank Secured Credit Card for you?
The Merrick Bank Secured Credit Card will help you increase your credit score by reporting your activity to the credit bureaus. In addition, it provides free regular FICO credit score updates so you can track your progress. You will start with a generous credit line, depending on your deposit, and have the opportunity to increase your credit line based on automatic reviews. Click the button below and apply for your card:
I Want My Card
