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!
555 Average Credit Score Approved for this Card
503 Lowest Credit Score Approved for this Card
Purchase Intro APR Purchase Regular APR Balance Transfer Intro APR Balance Transfer Regular APR
   

N/A

 

17.45%*

Variable

N/A

 

Not Applicable

 

Additional Details
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* 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 "Take Offer" 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

Late Fee

Up to $35

Cash Advance Fee

4%, Min: $10

Balance Transfer Fee

N/A

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

  • 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
  • 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.

Compare Holders of This Card

The Secured Visa® from Merrick Bank Cardholder Comparison Coming Soon!

We’re working hard to collect and analyze information about typical cardholders. When we have enough data available, you’ll see charts and statistics about this card, right here on Credit Karma. Check back often for updates!

87 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

Really Liking This Card So Far! Helpful to 7 out of 8 people

I found the information about this card right here on CreditKarma, after being denied a Cap One card due to terribly poor credit due to my own poor financial choices in the past (started at 530 CK score in February) I applied for this one with fingers crossed - and was approved! I sent in the $200 minimum deposit, waited patiently for my card to arrive at the end of March, and once it did, before I even used it my score went up to 559! I checked my score on here today (April 4th) and it's now another 8 points higher at 567, so since opening the account in March my score has gone up 37 points, definitely can't complain! Made my first payment today, am excited to build a lasting credit relationship with this card and work hard towards my credit repair goals so I can eventually own a home. So glad I came across this site and this card! 

JennUWinn's response was:    

  Apr 04, 2014

JennUWinn(1, 7)

Review by JennUWinn

1 Contributions 7 People Helped

I Apprectiate the Second Chance! Helpful to 4 out of 4 people

I received a mail solicitation shortly after my foreclosure and bankruptcy with an offer of a non-secured card with a $750 limit. I used the card responsibly and paid as agreed and they have increased my credit limit. I went from the initital $750 limit to a limit of $2850 over three years. And they are a good company too. They spotted fraudulent usage of my card, froze it, alerted me to it, and sent me a new card. This card has been a key component in rebuilding my credit over the past three years. I would highly recommend this company.

Apr 03, 2014
secured card no cl bump Helpful to 1 out of 1 people

had this card over a year and when i called to get more credit they told me they dont do it and just apply for a new card

Apr 01, 2014
Great card to rebuild credit. Helpful to 7 out of 7 people

I applied for this card and was pleasently surprised to be approved. I'm working hard to fix my credit score. This card increade my score by almost 40 points. I only charge utilies and pay it off every month, instantly. Very great full for there trust.

Mar 20, 2014
Great Card for rebuilding credit Helpful to 6 out of 6 people

Ive had this card for 7 months. Inital credit limit 1100 and now 2200.  The only issue I had is when I was out of my area (14 miles away) they would decline my card due to potential fraud.  I had this happen 4-5 times.  It was very annoying.  I finally had the block taken off my card and now am able to use it wherever I need to.  If you need to rebuild credit this is the card for you.  Don't pay attention to the people who rate this as a 1 star.  This card serves its purpose and it doesn't have an annual fee.  If you are rebuilding credit you should be paying off your balance each month. 

Mar 19, 2014

See all 87 Reviews of The Secured Visa® from Merrick Bank

† Credit Karma members have received approvals with these TransUnion New Account credit scores. These approval metrics are only guidelines and approval is not guaranteed. You can learn more about credit card approval through our in-depth article.