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Credit card issuer and FDIC-insured online bank
- Merrick Bank is a credit card issuer and FDIC-insured online bank. While primarily known for loans and credit-building credit cards, it also offers enticing certificates of deposit (CDs)—for those with a lot of money to save.
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What is Merrick Bank secured credit card?
Jan 4, 2024 · Merrick Bank is a credit card issuer and FDIC-insured online bank. While primarily known for loans and credit-building credit cards, it also offers enticing certificates of deposit (CDs)—for...
- Merrick Bank is a safe, legitimate bank owned and operated by financial services company CardWorks, Inc. Merrick Bank Corporation was founded in 19...
- Yes, Merrick Bank is FDIC-insured (FDIC No. 34519). FDIC deposit insurance protects CD accounts up to $250,000 per depositor. This means that if Me...
- To talk to someone at Merrick Bank, you can call 866-638-6851 between 8 a.m. and 6 p.m. CST Monday through Friday. You can also log into your accou...
Our Story. Founded in 1997, Merrick Bank is FDIC insured and recognized as a top 20 credit card issuer in the U.S. In total, we proudly serve nearly 3 million cardholders and have extended nearly $6 billion in credit. We also provide consumer finance options to marine, RV, powersports, and horse trailer dealers throughout the country to help ...
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- Who Is Merrick Bank Best for?
- What Does Merrick Bank offer?
- Merrick Bank Customer Service
- How to Bank with Merrick Bank
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High CD yields –Merrick Bank offers CDs in terms ranging from six months to five years, with annual percentage yields (APYs) that range from 4.05% to 5.25%.These rates outpace the national average,...Lower-than-average APR on secured credit card – The secured credit card, which is Merrick Bank’s most popular product, has an annual percentage rate(APR) of 22.70% for card purchases, which is belo...Specializes in boat and RV financing –While Merrick Bank also offers personal loans, the institution is known for its boat, RV, and horse trailer loans. This makes it an attractive choice for borro...Focuses on helping customers with lower credit scores –Though Merrick Bank does not accept all comers regardless of credit history, it is very open to helping those with either no credit record or...$25,000 minimum CD deposit –The impressive yields for Merrick Bank CDs come with a cost—you can only open one with a $25,000 minimum deposit, placing it out of reach for the average customer.Confusing credit card fees – Setup and maintenance fees for the secured credit card are “removed” from your credit limit, which can be somewhat confusing.Loan rates not listed online –Neither the recreational vehicle loans nor the personal loans have their rates listed on the Merrick Bank website, making it more difficult to do an apples-to-apples c...No typical deposit accounts –Merrick Bank is not a traditional bank, and you cannot open a checking account, savings account, or money market account with it. This makes Merrick Bank a poor choice...Merrick Bank is going to work best for customers who are looking to get a credit card or loan despite a lackluster credit history. It will especially appeal to customers who: 1. Want to build their credit history 2. Do not need to pair their general banking needs with their lender or credit card issuer 3. Are comfortable with an online-only banking...
This institution only offers a few of the products and services you might expect from a bank. These include: 1. CDs 2. Credit cards 3. Online banking experience
Merrick Bank boasts only one physical location in the country, its corporate headquarters in South Jordan, Utah. However, you can reach a customer service agent by phone at 1-800-204-5936, although it’s unclear as to what hours the phones are staffed. Merrick Bank also has a mobile app on which you can make payments, contact customer service, check...
Potential credit card customers can see if they are prequalified for the Platinum Visa online. If you are not, you can apply for the Secured Visa online. Borrowers can apply for a loan online, and customers who wish to purchase a CD can do so online as well. Customers looking for a boat, an RV, or a horse trailer loan may see if they qualify and ap...
Investopedia is dedicated to providing consumers with unbiased, comprehensive reviews of banks. We collected over 20 data points across more than 80 banks—including products available, interest rates, fees, and accessibility—to ensure that our content helps users make the right decision for their savings and banking needs.
- There are two Merrick Bank credit cards. Merrick Bank issues two credit cards: The Merrick Bank Classic Secured Credit Card, which requires a security deposit of $200 to $3,000.
- You may need an offer by mail to apply. The Merrick Bank Double Your Line Credit Card requires a mailed offer before you can apply. Enter the certificate number that appears in the offer to start the application.
- Get ready to pay some fees. For the Merrick Bank Classic Secured Credit Card, the annual fee is $36 for the first year, after which the fee is still $36, but it’s charged in monthly increments of $3.
- Neither card offers perks. NerdWallet rating. Read Review. The main benefit of both of these cards is access to credit and the ability to build credit through careful use.
Merrick Bank is FDIC insured and recognized as a top credit card issuer in the U.S. In total, we proudly serve nearly 3 million cardholders and have extended over $5.3 billion in credit.
Jan 2, 2024 · About Merrick Bank. Merrick Bank is a credit card issuer and a provider of cards geared toward consumers seeking to build or rebuild their credit histories....
Merrick Bank is one of the 20 largest credit card issuers in the United States. Founded in 1997 and headquartered in Utah, the company focuses on helping individuals with credit issues rebuild...
