The Ultimate Guide to Credit Cards
Sunday, June 4, 2023

Merrick Bank Secured Credit Card Review

"With low fees, a reasonable APR, and automatic account reviews for credit line increases, this secured card is a good choice for those looking to build credit."
- Toby Sembower,
Advertiser Disclosure
Merrick Bank Secured Credit Card Review

at Merrick Bank'ssecure website

BEST OVERALL RATING

★★★

3.3

OVERALL RATING

  • Choose your own credit line based on how much money you want to put down as a security deposit.
  • Initial deposits can be from $200 to $3,000. You can increase your credit line at any time by adding additional money to your security deposit, up to $3,000.
  • After 9 months, we review your account for a credit line increase. No additional deposit required!
  • Secured Credit Cards are great for people looking to build or rebuild credit and are available to people with all kinds of credit backgrounds.
  • Unlike a debit card or a pre-paid card, it helps build your credit history. We report your payment history to all three major credit-reporting agencies.
  • Get your FICO® Credit Score for free each month.
  • Fraud coverage if your card is lost or stolen. Access your account 24 hours a day, 7 days a week. Get help staying on track with available Auto Pay and account alerts.
  • Card issued by Merrick Bank, Member FDIC.
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
N/A
N/A
22.45% Variable
$36 for first year. Billed $3 per month thereafter
See website for Details*

Interest Rate

Annual Fee

Credit Needed

Our Ratings By Category

Bad Credit
(Ranked #28 out of 32)
★★★★
4.0
Best Overall
★★★
3.3
Instant Approval
(Ranked #12 out of 16)
★★★★
4.0
Low APR
(Ranked #32 out of 38)
★★★★
3.7
No/Limited Credit
(Ranked #27 out of 32)
★★★★
4.0
Secured
(Ranked #13 out of 20)
★★★★
4.0

Advertiser Disclosure

CardRates.com is a free online resource that offers valuable content and comparison services to users. To keep this resource 100% free, we receive compensation for referrals for many of the offers listed on the site. Along with key review factors, this compensation may impact how and where products appear across CardRates.com (including, for example, the order in which they appear). CardRates.com does not include the entire universe of available offers. Editorial opinions expressed on the site are strictly our own and are not provided, endorsed, or approved by advertisers.

Alternatives to Merrick Bank Secured Credit Card

Be sure to visit the official website for Merrick Bank Secured Credit Card to learn complete details about its features and terms. If you’re not quite sure if Merrick Bank Secured Credit Card is right for you, we encourage you to check out these guides to popular alternatives:

Before applying for the Merrick Bank Secured Credit Card offer or any other offer, be sure you understand all fees, interest rates, and terms so you can make the best decision for your own financial goals.