Have in your hands the greatest facilities and advantages of Merrick Bank Secured Visa card!
This is a secured credit card and as with other credit card providers it needs a security deposit that will be your credit limit initially. Your security deposit can be at least 200 dollars being the highest value up to 3000 dollars. 3000 dollars is a credit card limit that can be considered high compared with other credit card initial limit offers.
Unfortunately, it is not possible to be a Merrick Bank Secured Visa credit card holder without paying an annuity fee, even if it is a low-cost fee. Why do I need to apply for being a Merrick Bank Secured Visa credit card holder? Being a credit card holder of this kind of credit card gives you a big amount of benefits that includes high credit limits depending on the value of your security deposit. You pay a low-cost annuity fee for using these credit card services.
Being a Merrick Bank Secured Visa credit card holder, you have access to your online account in the official website or you can download the mobile app and manage your account anywhere, being notified if there is suspicious activity in your account.
Security alerts also help to keep your money safe from hackers and digital attacks. You always receive notifications in your mobile phone about the movement did in your account.
You can access online reports about your account activity and have more control in your finances and be retaliated against if you exceed your credit card limit or delay your bills payments.
Having more reasons to pay your bills on the due date can help you to have a better credit score because you cannot spend more money that you have if you are holding this credit card. All the values that can be used in your purchases need to be previously deposited in your account.
You can have a better credit score by holding a credit card that does not allow you to have more debts. Your account activity is analyzed by credit bureaus that can notice if you have better financial habits and can have your credit score increased.
Do not try to spend more than your credit card limit because this kind of behavior can lead to additional fees payments like the payment returned fee that costs 40 dollars for each payment that were not completed.
Having a Merrick Bank Secured Visa credit card does not give you special bonus offers or the possibility of earning rewards and redeeming your rewards into cash backs or gift cards for other purchases.
Yes, you can increase your credit card limit anytime depositing more money in your security deposit account. It is possible to request a line of credit if you have a good history with Merrick Bank. Be aware of not exceeding your limit because you need to pay 40 dollars if you cannot complete a payment and the payment returns. Delaying your bill payment can also charge you a 40 dollars fee.
Special offer for each State: Californian citizens that are married can have access to separated accounts. This credit card is not available for Wisconsin citizens. Some U.S. states have special laws for credit card offers, like Ohio, Delaware, Illinois, New York e Maryland.
Different colors of credit cards are available such as pink, black, yellow and green. You can choose what color is more interesting for you and you have two options of secured credit cards.
Double Your Line Secured Visa Credit Card: If you deposit 200 dollars in your security account deposit you will have a double limit value, achieving 400 dollars credit limit if you pay your credit card bills until the due date in the first seven months holding this credit card.
Classic Secured Visa Credit Card: This is an option of credit card in which you can decide how much money you want to deposit in your security deposit account. The values go 200 to 3000 dollars that will be converted to your credit limit.
- Making a security deposit
- Being at least 18 years old
- Having a valid Social Security Number
- Being an American Citizen
- Having an address in the USA
- Not holding another Merrick Bank Secured Card
Yes. You need to pay a 17,45% APR fee. You also have an APR for cash advances costing 22,45%.
If you were approved for being a Merrick Bank Secured Visa credit card holder you will receive your credit card in your mailbox at your home address informed in your application in up to 2 weeks.
Yes. You need to make your security deposit as soon as possible, but you have 30 days to do that. If you do not deposit in 30 days your account will be canceled and you cannot use your credit card services.