The Secured Visa® from Merrick Bank Reviews

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2.9 out of 5 stars
11 Reviews

From Cardholders in the last year

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ADDITIONAL RATINGS YOU MIGHT FIND HELPFUL

Application Process

4 out of 5 stars

Customer Service

3.5 out of 5 stars

3 5

Card Details

  • Balance Transfer Intro APR Not Applicable
  • Balance Transfer Regular APR Not Applicable
  • Annual Fee $36 the first year. Billed $3 per month thereafter
  • Purchase Intro APR Not Applicable
  • Purchase Regular APR 18.45%* Variable
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Most Helpful Positive Review

Oct 10, 2013
Great credit option for those rebuilding
Anonymous Cardholder

What I like:  No fee credit limit increases, free mobile app, quick and easy online payments.

I applied for a Merrick Bank Visa card in October of 2006.  After much credit neglect during my college years, my credit history was horrible with a score around 550. When I applied for this card, I understood that I would be paying an annual fee of $72 devided at $6 a month. Given my need to rebuild my credit, it was worth that commitment. 

I have been using the card ever since and have managed the account well. I have never had a problem with this company or their customer service. What I like best about this card is the company automatically increases my credit limit on a regular basis without asking me to pay a one time fee or other gimicks. When I received my card in 2006, my initial credit limit was $600. Today my limit is $4,500.

If you're ready to be responsible, this is a company that you can build trust with. As always, read the terms first. If you have a 750 credit score, this is not the card for you. If you're looking to build or rebuild your credit and understand that you're going to have a high APR and pay month fees, this is the best option available. 

(FYI:  At the same time I applied for Merrick, I also received cards from Applied Banc Card and First Premier. Both of those accounts have since been closed due to the outragious fees and unwillingness to increase my credit limit even after seven years with out missing a payment.)

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Most Helpful Negative Review

Apr 23, 2015
average at best
mellospaces Cardholder

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. 

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

May 21, 2017
Anonymous Cardholder

The card is very good I had a score of 498 and over a six month time my credit score increase to 650 and they increase my credit limit in a six months help me rebuild my credit score and over time I was able to apply for a Discover card and a Capital One card thanks to Merrick Bank

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May 16, 2017
OK for building credit.
buckduck5605 Cardholder

I applied for this card w/ scores around 600. I deposited $200. After about a year, my CL increased to $250. I've had it for 2 years with no other increases (although I haven't asked for one). Website works, free FICO score, customer service has been OK. Oddly enough, I use this card just like any other, but for some reason the card has been fraudulently used twice at a retailer in another state, even after I was issued a new card. I look out for skimmers and have never lost the card. Both times they took care of it promptly. I am gratefuly that they issued me a card. For some reason, Capitol One wouldn't even approve me for a SECURED card. Now my credit has improved, and I was able to buy a house an apply for a better card.

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Apr 10, 2017
Just lie to much
TYKang Cardholder

I was told it was 36 dollars per year after the first year it's billed 3 dollars per month I was billed 6 for the past three months called today to check on it and she says it's always been 72 per year and 6 per month even though I just payed 36 for my yearly fee in January she then tells me she can't look up any transactions before January 2017 so just horrible I closed my card out today I was being charged all kinds of fees but I ignored and payed it because I just wanted to build my credit which it helped some not worth the fees they charge I'll have to open a third capital one card who are straight forward but they just lie about everything and I don't have the time to check and call and wait and try to clear up problems every month with people who are unprofessional or either can barely speak English 

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Feb 28, 2017
Worst Customer Service Ever. Liars
Anonymous Cardholder

Ask for a replacement credit twice.  Both times never recieved them.  Waited for nothing.  They still had the audacity to continue charging me the $3/month annual fee when they refused to send me a replacement card.  Today is the 28th of Feb, 2017.  They claimed that the last time they sent the card was Jan 16, 2017.  BS.  Liars.  I applied for a Capital One Platium on Sunday.  Tuesday morning I get a email saying my card is on it's way.  

I would not recommend even if trying to rebuild your credit.  Try elsewhere first. 

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Jan 28, 2017
Amazing.
rosafamily Cardholder

I hate to see so many bad reviews for this card. I think it's coming from people that just don't understand how credit works. I've had the card for almost two years. I started with $200 and since have gotten numerous credit increases without adding more money to the card. It has helped build my credit so much that I was just approved for a Citi Card with a credit limit of $4,000! A West ELM card with $2,000, Capital One Card with $750.00.

The key is to pay your cards on time every month and try to keep the Merrick Bank (and most cards) below the credit limit.

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Jan 17, 2017
Worse!
Sharper1214 Cardholder

I had a Merrick credit card was on time with all my payments missed two payments due to a unpaid leave of absence (manged to make a partial payment though). After calling in several times to inform this bank of my situation and numerous representatives not even listening, I got to a rep who set me up on a payment arrangement affordable for me and that was supposed to bring me current. Two payments into the arrangement my account was closed due to missing the two payments (partial payments). This bank is not worth your money or time they don't respect the nature of being a human. Don't mess up ur credit by including them on it.

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Dec 05, 2016
Had credit available. Card declined!
Anonymous Cardholder

Marginal customer service. Less than professional. Also, had sufficient credit available but card was declined. 

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Nov 28, 2016
NOT BAD FOR MY FIRST CARD
akasnak3 Cardholder

I started with $200 and after 6 month i was @ $300 now a year later i hope i get another increase. So far this car has been great i get a free fico score every month easy to pay online and app works perfect overall if you are starting off or rebuilding this is a good card!

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Nov 09, 2016
Decent Card
reinalee Cardholder

It doesnt show up on my EX Report, but is on my TU one. Overall its a decent card, website easy to Navigant a little outdated but simple.  I use my card and pay it off over the month. If I get an increase fine if not not biggie, I hoping for better cards over time.

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Oct 08, 2016
So far so good no complaints as of yet!!
Anonymous Cardholder

Offers sent to them by mail otherwise may not hear about it!

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The Secured Visa® from Merrick Bank