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The Secured Visa® from Merrick Bank

Offered by: Merrick Bank

The Secured Visa® from Merrick Bank

  • Get your FICO® Score every month at no charge.
  • Build your credit – Performance is reported to all three major credit bureaus, unlike a prepaid card.
  • Credit line increases – Automatic unsecured credit line increase reviews with no additional security deposit or fees.
  • No processing or application fees.
  • You determine your credit line – up to $3,000.
  • Easy funding options – We have several convenient options to easily submit your security deposits.
  • Worldwide acceptance – Use it anywhere Visa is accepted.
  • Easy application – Click "Apply Now" to apply online today!

Average Approved Score Purchase Intro APR Purchase Regular APR Balance Transfer Intro APR Balance Transfer Regular APR
553
Typical Low: 489
Typical High: 618
   

N/A

17.45%*

N/A

N/A

 

Variable

 

 

Additional Details

Click here for Additional Details

* See the online Provider's credit card application for details about terms and conditions. Reasonable efforts are made to maintain accurate information. However all credit card information is presented without warranty. When you click on the "Apply Now" button, you can review the credit card terms and conditions on the provider's website.

Offer Details:

Cash Advance Rate

22.45%

Annual Fee

$36 the first year. Billed $3 per month thereafter

Late Fee

Up to $38

Cash Advance Fee

4%, Min: $10

Balance Transfer Fee

N/A

Saving Details

Saving Details

Year 1

Year 2

Year 3

Balance Transfer Cost

$0

$0

$0

Interest Savings on Transferred Balance

$0

$0

$0

Interest Savings on New Purchases

$0

$0

$0

Value of Rewards on New Purchases

$0

$0

$0

Value of Bonus Points

$0

$0

$0

Annual & Application Fees

‑$36

‑$36

‑$36

 

Savings

Total Annual Savings

‑$36

‑$36

‑$36

Total Savings over 3 Years

‑$108

Credit Card Usage Profile

Transfer a Balance
Edit
  • Balance to Transfer: $2,500
  • Monthly Paydown: $600
  • APR: 21.99%

Earn Rewards

  • $1,000 Monthly Spending
  • $45 Gas
  • $75 Groceries
  • $20 Travel
  • $50 Restaurants
  • $50 Entertainment
  • $760 Other

Establish or Build My Credit

Card Details
  • Annual Fee: $36 the first year. Billed $3 per month thereafter
  • Minimum Deposit: $0

Finance a Large Purchase

  • Initial Purchase Amount: $3,000
  • Monthly Paydown: $60
How We Calculated Your Savings

Credit Karma uses details about your credit card usage and data we have on current credit card offers to calculate how you might save money. These calculations are for illustration purposes only.

Savings are based on Credit Karma calculations and are not endorsed or commissioned by any advertisers. These calculations are for illustration purposes only. If bonus is included in savings estimate, it is assumed offer qualifications are met.

Note: Sample data consists of Credit Karma members who hold this card.

Compare Holders by ...

Credit Score
Credit Limit
Current Balance
Credit Limit Utilized
60+ Days Past Due Status
Age of Cardholder

Sample Size: 469
Data Created: February 02, 2015



129 Cardholder Reviews

The following information and reviews are brought to you by Credit Karma and/or its users. Banks, issuers, and credit card companies do not endorse or guarantee, and are not responsible for this content.

Most Recent Reviews

fees are ridiculous!!!!!! Helpful to 2 out of 3 people

this card has two different options unsecured and secured. you can only get unsecured with a pre approved letter in the mail. once i recieved it couldn't believe the outrageous fees. they take 125 off the card before you use it.

businessman1's response was:    

 
Jul 03, 2015

Nadia210(1, 0)

Lame

Why would they send me an offer in the mail then i go apply for it and get denied really?? Discover is a more well know card and i got approved for that!

Nadia210's response was:    

 
Jun 23, 2015

CAKEZ718(10, 136)

Top Contributor

This was my only card for two years!!! Helpful to 7 out of 7 people

I gave up on my credit after having about 9 baddies on my credit report which I incurred from not using credit responsibly in my younger years, I am currently waiting fro them to fall off. I received an offer from them in the mail in Dec 2013. I secured it with a $300 deposit so I have a $300 credit limit. It didnt really do much for score even after using it responsibly but however within a year I have started receiving offers in the mail. I was able to obtain cards from capital one. I will just keep this card open to help my credit age.

CAKEZ718's response was:    

 
Jun 20, 2015
Intrest rate to high Helpful to 25 out of 28 people

i have had MB credit card for over 2 years now. They did double my limit with 7 months of on time payment, however the intrest rate is so high.. My payment is 63.00 i normally pay 100 or more monthly and hardly anything comes of the balance. Alot of the payment goes to intrest. I am steadily paying this card the reduce my balance and maybe use it for a small monthly bill like netflix. That way i can pay the balance at once and not have to pay intrest.

baeballlover's response was:    

 
May 08, 2015
Great Card! for less than perfect credit Helpful to 34 out of 37 people

I would recommend this card highly. I originally got an invitation in the mail to apply with a CL of $1,100 and will double in 7 months of on time payments, well, today is the 7th month and I got my CL doubled. I now have a $2,200 CL. That's 50% increase. I am so happy. This is the highest card I have. It  is a great company and has friendly customer service. I have not had any problems or complaints about the company despite of what other's has experienced. Get this card if you receive an offer.

Mygoalis820fico's response was:    

 
Apr 30, 2015

See all 129 Reviews of The Secured Visa® from Merrick Bank

† Credit Karma estimates your Approval Odds by comparing your credit profile with data about other members who were approved for this product. Though Approval Odds do not guarantee approval, they can show you which products may be a better fit for you.

‡ Average score refers to the arithmetic mean, typical low score to the 5th percentile and typical high score to the 95th percentile of, in each case, available VantageScore 3.0 credit scores provided by TransUnion of Credit Karma members who were approved for this product from January 2015 through June 2015. Average and typical approved scores are provided as guidelines only and approval is not guaranteed. You can learn more about credit card approval through our in-depth article.