Banking Reviews Advertiser Disclosure

Merrick Bank

3.5 out of 5 stars
62 Reviews

From Account Holders in the last year

ADDITIONAL RATINGS YOU MIGHT FIND HELPFUL

Application Process

4.5 out of 5 stars

Customer Service

3.5 out of 5 stars

3.5 5
Collapse

Most Helpful Positive Review

Jan 07, 2016
Never had a problem with them
HoraceRumpole Account Holder

Merrick issued me a VISA card when my FICO was borderline and I had a recent bankruptcy.  I knew the interest rate was high, but I expected that.  There is not rewards program, but again I knew and accepted that.  I make payments on time, usually paying the balance in full.  I've had occasion to deal with Customer Service a few times and found them courteous and helpful.  The Double Your Credit Limit program is legit - make the first 6 months payments on time and the credit increase is automatic.  This has allowed me to improve my FICO to the point where I can now get other credit.  In short, my experience with them has been excellent.

more ...

Was this review helpful?

 

Most Helpful Negative Review

Apr 04, 2016
Keeps their promise
strawmellow Account Holder

I applied for this card under the premise that they would double my credit line after 7 months of on-time payments. I was skeptical, but saw a lot of positive reviews that claimed the company did in fact stay true to their word. I waited 7 months before posting this review as I wanted to make sure it happened. Guess what? It did! I started off with a $700 unsecured credit line, and just shy of 2 weeks after the 7-month mark hit my credit line was doubled. I didn't even use the card for about 3 months, which I thought might affect my eligibility.

The high interest rate makes it not as appealing of a card to some, but as somebody who is rebuilding credit and often only gets approved for very low amounts of credit this is a pretty good card to have on hand for emergences.

However, one last word of advice is not to lose the card. I thought I lost my card and requested a new one, which was happily sent out if I agreed to a $15 replacement fee. Not happy about that, particularly because I found my card the next week (go figure).

more ...

Was this review helpful?

 

These reviews were written by current and former account holders in the last year.

Dec 01, 2016
They make good on their word!
JTG1234 Account Holder

Have had Merrick for 18 months now. The few issues I had were of my own misdoings and they showed concern and were willing to work with me, in a way that didn't reflect my standing with them. I received the line increase after the first 6mo and then another one about a year after that. I try not to max the card out unless I know I can pay it back entirely within 90 days. I've taken cash advances out with no issues and their fees for that are very reasonable. Keep your balances paid each month, don't be late, don't wait to pay the bill 2-days before it's due (For the life of me, I don't understand why people do that.) If you don't have the money, idk, a logical thing to do would be don't use the card. If you get a card that has an annual fee, and you're trying to reuild credit, it's dire to keep the account open for at-least 2 years. If in the process you get another card that has 3x higher limit, it's still more benefical to keep the Merrick card, just don't use it or use it and pay the balance in full like every 2-weeks. You can see how having a balance vs not having a balance will drastically change your Fico score by the month. I know I'm spoon feeding this but it's important for people to know and understand. If you have a card with a $1,000 limit and your score is 550, maxing that card out will drop your score by 30+ points, the minute you pay it down to zero and it's reported, your score will jump again, that fast. Just because Credit Karma updates every 7 days doesn't mean your creditors do. Some are every month and some are every other month. Once you know when to expect your creditor to report, you are better off having your balance at or near zero during this time. I really thought people understood credit but I'm seeing now that most people with bad credit, still don't seem to know how to get it back in order, once they do get a card such as Merrick Bank. When you ace this process, you end up going from a $500 limit with one bank to over $6,000 combined limits with just a few banks, in just a year or so. It works, it worked for me and in the process I had a voluntary repo. It was unfortunate but I made sure to keep my revolving credit in good standing during this ordeal. One late payment on revolving credit can hurt your score for at-least 9 consecutive months.

more ...
Dec 01, 2016
They make good on their word!
JTG1234 Account Holder

Have had Merrick for 18 months now. The few issues I had were of my own misdoings and they showed concern and were willing to work with me, in a way that didn't reflect my standing with them. I received the line increase after the first 6mo and then another one about a year after that. I try not to max the card out unless I know I can pay it back entirely within 90 days. I've taken cash advances out with no issues and their fees for that are very reasonable. Keep your balances paid each month, don't be late, don't wait to pay the bill 2-days before it's due (For the life of me, I don't understand why people do that.) If you don't have the money, idk, a logical thing to do would be don't use the card. If you get a card that has an annual fee, and you're trying to reuild credit, it's dire to keep the account open for at-least 2 years. If in the process you get another card that has 3x higher limit, it's still more benefical to keep the Merrick card, just don't use it or use it and pay the balance in full like every 2-weeks. You can see how having a balance vs not having a balance will drastically change your Fico score by the month. I know I'm spoon feeding this but it's important for people to know and understand. If you have a card with a $1,000 limit and your score is 550, maxing that card out will drop your score by 30+ points, the minute you pay it down to zero and it's reported, your score will jump again, that fast. Just because Credit Karma updates every 7 days doesn't mean your creditors do. Some are every month and some are every other month. Once you know when to expect your creditor to report, you are better off having your balance at or near zero during this time. I really thought people understood credit but I'm seeing now that most people with bad credit, still don't seem to know how to get it back in order, once they do get a card such as Merrick Bank. When you ace this process, you end up going from a $500 limit with one bank to over $6,000 combined limits with just a few banks, in just a year or so. It works, it worked for me and in the process I had a voluntary repo. It was unfortunate but I made sure to keep my revolving credit in good standing during this ordeal. One late payment on revolving credit can hurt your score for at-least 9 consecutive months.

more ...
Dec 01, 2016
They make good on their word!
JTG1234 Account Holder

Have had Merrick for 18 months now. The few issues I had were of my own misdoings and they showed concern and were willing to work with me, in a way that didn't reflect my standing with them. I received the line increase after the first 6mo and then another one about a year after that. I try not to max the card out unless I know I can pay it back entirely within 90 days. I've taken cash advances out with no issues and their fees for that are very reasonable. Keep your balances paid each month, don't be late, don't wait to pay the bill 2-days before it's due (For the life of me, I don't understand why people do that.) If you don't have the money, idk, a logical thing to do would be don't use the card. If you get a card that has an annual fee, and you're trying to reuild credit, it's dire to keep the account open for at-least 2 years. If in the process you get another card that has 3x higher limit, it's still more benefical to keep the Merrick card, just don't use it or use it and pay the balance in full like every 2-weeks. You can see how having a balance vs not having a balance will drastically change your Fico score by the month. I know I'm spoon feeding this but it's important for people to know and understand. If you have a card with a $1,000 limit and your score is 550, maxing that card out will drop your score by 30+ points, the minute you pay it down to zero and it's reported, your score will jump again, that fast. Just because Credit Karma updates every 7 days doesn't mean your creditors do. Some are every month and some are every other month. Once you know when to expect your creditor to report, you are better off having your balance at or near zero during this time. I really thought people understood credit but I'm seeing now that most people with bad credit, still don't seem to know how to get it back in order, once they do get a card such as Merrick Bank. When you ace this process, you end up going from a $500 limit with one bank to over $6,000 combined limits with just a few banks, in just a year or so. It works, it worked for me and in the process I had a voluntary repo. It was unfortunate but I made sure to keep my revolving credit in good standing during this ordeal. One late payment on revolving credit can hurt your score for at-least 9 consecutive months.

more ...
Dec 01, 2016
They make good on their word!
JTG1234 Account Holder

Have had Merrick for 18 months now. The few issues I had were of my own misdoings and they showed concern and were willing to work with me, in a way that didn't reflect my standing with them. I received the line increase after the first 6mo and then another one about a year after that. I try not to max the card out unless I know I can pay it back entirely within 90 days. I've taken cash advances out with no issues and their fees for that are very reasonable. Keep your balances paid each month, don't be late, don't wait to pay the bill 2-days before it's due (For the life of me, I don't understand why people do that.) If you don't have the money, idk, a logical thing to do would be don't use the card. If you get a card that has an annual fee, and you're trying to reuild credit, it's dire to keep the account open for at-least 2 years. If in the process you get another card that has 3x higher limit, it's still more benefical to keep the Merrick card, just don't use it or use it and pay the balance in full like every 2-weeks. You can see how having a balance vs not having a balance will drastically change your Fico score by the month. I know I'm spoon feeding this but it's important for people to know and understand. If you have a card with a $1,000 limit and your score is 550, maxing that card out will drop your score by 30+ points, the minute you pay it down to zero and it's reported, your score will jump again, that fast. Just because Credit Karma updates every 7 days doesn't mean your creditors do. Some are every month and some are every other month. Once you know when to expect your creditor to report, you are better off having your balance at or near zero during this time. I really thought people understood credit but I'm seeing now that most people with bad credit, still don't seem to know how to get it back in order, once they do get a card such as Merrick Bank. When you ace this process, you end up going from a $500 limit with one bank to over $6,000 combined limits with just a few banks, in just a year or so. It works, it worked for me and in the process I had a voluntary repo. It was unfortunate but I made sure to keep my revolving credit in good standing during this ordeal. One late payment on revolving credit can hurt your score for at-least 9 consecutive months.

more ...
Dec 01, 2016
They make good on their word!!
JTG1234 Account Holder

Have had Merrick for 18 months now. The few issues I had were of my own misdoings and they showed concern and were willing to work with me, in a way that didn't reflect my standing with them. I received the line increase after the first 6mo and then another one about a year after that. I try not to max the card out unless I know I can pay it back entirely within 90 days. I've taken cash advances out with no issues and their fees for that are very reasonable. Keep your balances paid each month, don't be late, don't wait to pay the bill 2-days before it's due (For the life of me, I don't understand why people do that.) If you don't have the money, idk, a logical thing to do would be don't use the card. If you get a card that has an annual fee, and you're trying to reuild credit, it's dire to keep the account open for at-least 2 years. If in the process you get another card that has 3x higher limit, it's still more benefical to keep the Merrick card, just don't use it or use it and pay the balance in full like every 2-weeks. You can see how having a balance vs not having a balance will drastically change your Fico score by the month. I know I'm spoon feeding this but it's important for people to know and understand. If you have a card with a $1,000 limit and your score is 550, maxing that card out will drop your score by 30+ points, the minute you pay it down to zero and it's reported, your score will jump again, that fast. Just because Credit Karma updates every 7 days doesn't mean your creditors do. Some are every month and some are every other month. Once you know when to expect your creditor to report, you are better off having your balance at or near zero during this time. I really thought people understood credit but I'm seeing now that most people with bad credit, still don't seem to know how to get it back in order, once they do get a card such as Merrick Bank. When you ace this process, you end up going from a $500 limit with one bank to over $6,000 combined limits with just a few banks, in just a year or so. It works, it worked for me and in the process I had a voluntary repo. It was unfortunate but I made sure to keep my revolving credit in good standing during this ordeal. One late payment on revolving credit can hurt your score for at-least 9 consecutive months.

more ...
Nov 27, 2016
great bank
jktrm5 Account Holder

needed to build my credit and did by applying for this card was a great assett in helping me get my credit score up

more ...
Nov 13, 2016
Serving purpose
Jb381 Account Holder

Never offers increase

more ...
Nov 07, 2016
Great
Anonymous Account Holder

Good starting out card or to build credit.

more ...
Nov 02, 2016
Not a bad card to have but....
Kello1008 Account Holder

THe fees can be a little high. When you get your bablance high enough it's hard to get it back down.

more ...
Add a Review

Add Your Review

I Own It I Had It I Applied

Please state your experience.

How would you rate this bank overall?

Please select a rating

What should others know about this bank?

Optional

How was application process?

How was customer service?

Join the Credit Karma Community

It’s free, and you’ll get tools and info that can help you improve your financial health:

  • Credit scores and reports
  • Credit monitoring
  • Personalized recommendations