Merrick Bank Secured Visa® from Merrick Bank

  • Unsecured credit line increases - After the first year, your account will be regularly reviewed for credit line increases with no additional security deposit required.
  • Monthly FICO® Score for free - get your updated FICO® Score each month when it is provided to us from the credit bureau.
  • Build your credit - performance is reported to all three major credit bureaus, unlike a prepaid card.
  • Flexible credit line – the amount of your deposit determines your initial credit line – up to $3,000 and increase your credit line anytime with additional deposits.
  • Easy funding options – several convenient options to easily fund your security deposit.
  • Worldwide acceptance - use it anywhere Visa is accepted.
  • Quick, easy application - apply online today!
Credit Target Type Annual Fee BT Intro APR Purchase Intro APR Regular APR Rewards
Fair Credit, Average Credit Secured $36 for first year. Billed $3 per month thereafter N/A N/A 18.95% Variable None


Quick Summary:
This Visa offer is issued by Merrick Bank. This is a secured card that does not issue a traditional line of credit. Rates may vary among applicants, however the lowest standard APR is 18.95%* (Variable)*.

Important Rates:
There is not an introductory APR for this card, so the lowest or standard rate may apply immediately or after the grace period for eligible purchases. A monthly fee exists for this card, and is the following: $36 for first year. Billed $3 per month thereafter*.

Rewards:
This is not a rewards card. It is normal for cards for fair and poor credit histories to not offer rewards.

Credit Record Needed:
Based on the FICO score recommendation, the issuer may expect that applicants may have had problems with their credit history, or are working on building their credit reputation. A FICO credit score of 546 is recommended for a higher chance of approval, but this is not required. There are a number of other factors that this issuer may also consider when making decisions for approval. While your FICO score is usually a very important factor, you may want to consider other areas that may affect a decision for approval. For example, your debt to income ratio, recent credit inquiries, 30+ day delinquencies, or current credit accounts nearing the maximum amount may affect a credit decision.

FICO scores/credit scores are used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, a credit score alone does not guarantee or imply approval for any Merrick Bank product.

Other Basics:
Uses for this type of card may include budgeting funds, adding deposits for later use, building a credit rating (if issuer reports to the credit bureaus), and possibly more.This card contains the brand of Visa, where acceptance is global. Most businesses that accept credit cards will accept Visa as a form of payment (subject to available credit).

Approval Rate:
Currently, we have no applicant results in our system. You can be the first one to help by submitting your application results to assist other applicants before they apply for this card.

This card has a very poor approval or acceptance rate. Since this is a card for fair credit, numerous factors may influence this rate, including the APR, fees, or past applicants credit record and income levels. Furthermore, if your FICO score is close to or higher than 546, then your chance of approval may be even greater.

Approval Time:
Approval time for this offer is not listed. You should expect a final credit decision within a couple of weeks, but normally much sooner.

Community Opinion:
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