Great for building credit††
See card detail
See card detail
Regular purchase APR

17.45%* Variable


Annual fee

$36 the first year Billed $3 per month thereafter



Overall card rating

3.5
144 Reviews
from Credit Karma members

Most Helpful Positive Review

Jan 08 2018
Great to rebuild credit
Credit Karma Member

I had to stop working several years ago because I have MS. When this happened I had to default on my car, mortgage, medical bills and credit cards. I am finally in a position to rebuild my credit. I attempted to open an account with Capital One but was declined. I understand that I had terrible credit but I thought that was the purpose of a secured credit card. I read the reviews from some of the other secured cards and was appalled by some of the other banks derogatory comments. Many said they never received cards or were charged exorbitant upfront startup fees but never got a statement or a card. That's when I saw a suggestion to try Merrick Bank secured credit cards. The terms are similar to Capital One and I was immediately approved. I would suggest always reading the fine print and most importantly, the reviews of other customers before haphazardly applying for anything. From what I've read Capital One and Merrick seem to be the best. Neither of these cards are for irresponsible shopping sprees, but for those who are trying to re-establish good credit. Don't deposit more than you can afford to pay off in a month or two and always pay extra on all your monthly bills.


Most Helpful Negative Review

Apr 23 2015
average at best
Credit Karma Member

I have had this card since 11/2013. I initially was approved with a $800 credit limit that was doubled after 7 months. I also have a capital one cards that around that time had a $1300 credit limit. Since that time I have inquired about another increase and was told that I wont be eligible for one until 11/2015 and even then it will only be for $500. While my capital one card has given me several increases and currently my credit limit with capital one is $6800. Suffice to say I cant close it now because I dont want the length of credit on my credit report to go down but I ONLY use it for nexflix. That way its a nice low payment every month, there is nothing to charge interest because I pay it off every month and they keep it open because the account is active.


Additional ratings


All Reviews

65
25
12
7
35
  • Highest rated
  • Most helpful
  • Least helpful
  • Newest
  • Oldest

Aug 04 2020
Credit Karma Member


May 08 2020
Great Card To Rebuild Credit
Credit Karma Member

I went through a divorce and my credit score took a deep drop. I’ve had this card for 1 year and 2 months, use it, and pay it. People have to keep in mind that this is a secure card and for building credit. Regarding increases, I’ve never been offered but the point of this card is so you can rebuild your credit so that you can apply for non-secure cards. This is a tool and if you use it right, it will work. If you ha e this card and need to pay more to add a higher credit, then you aren’t using it right. After about a year you should be ready to apply for a regular credit card anyway.


Apr 24 2020
Credit Karma Member


Feb 16 2020
Credit increases
Credit Karma Member

The card does give credit increase without additional deposit, of have a good pay history with them.


Feb 12 2020
Excellent!!
Credit Karma Member

I used in Germany without any problem,after 6 months they increase my credit limit,and for the payments never having a problem!!...


Jan 08 2020
Great card BUT
Credit Karma Member

Credit Karma listed it as a good approval odds for a SECURED Merrick Bank BUT on a Credit Card Review website linked me to a pre approval link and I got approved for a 550 limit card with a 639 FICO double limit in 6 months ... so dont take CK take on all the options they give you.. some are good but with some research you can find better cards with better limits and terms..


Sep 19 2019
This card give me a chance before
Credit Karma Member

This card will graduate to an unsecured credit card remember everyone pay on time don't miss a payment remember keep your balance between 0 to 10 per cent


Aug 14 2019
Not Good
Credit Karma Member

I've had this car for about 8 months now and I have not received a credit increase I made all my payments on time if I don't see an increase in about three more months I am going to close this card supposed to be good for building credit but I don't see any difference


Aug 10 2019
I dont have it yet to give a answer
Credit Karma Member

I can not anwer that?


Jul 06 2019
I
Credit Karma Member

this company gave me a chance when no other company would . The interest rate is high but after 6 months they increased my credit like they would after on time payment ty again

1-10 of 144

See Approval Odds and pre-approved offers before you apply

We’ll estimate your chances of approval based on your credit profile. Join today — it’s free! You’ll also get:

Sign up
  • Credit scores and reports
  • Credit monitoring
  • Personalized recommendations
Great for building credit††
See card detail
See card detail
Regular purchase APR

17.45%* Variable


Annual fee

$36 the first year Billed $3 per month thereafter




These ratings and reviews are provided by our users. Banks, issuers and credit card companies do not endorse or guarantee this content, are not responsible for it, and may not even be aware of it.

†† The opinions you read here come from our editorial team. Credit Karma receives compensation from third-party advertisers, but that doesn’t affect our editors' opinions. Our marketing partners don’t review, approve or endorse our editorial content. It’s accurate to the best of our knowledge when it’s posted.