Credit Cards

Build credit fast: Merrick Bank Classic Secured Card review

Looking for a credit card to rebuild or establish credit? Check out the Merrick Bank Classic Secured Card! This card is what you're looking for!

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Learn How to Use This Card to Rebuild or Build Your Credit Line

Merrick Bank Classic Secured Credit Card
Build credit fast: Merrick Bank Classic Secured Card review. Source: The Mad Capitalist

In this Merrick Bank Classic Secured Card review, we’ll look at a credit-building option specifically designed for people who have had trouble qualifying for traditional cards.

Merrick Bank Classic Secured Credit Card

Apply for Merrick Bank Classic Secured Card

Apply for the Merrick Bank Classic Secured Credit Card and rebuild your credit. Follow the step-by-step here!

With features like monthly credit bureau reporting and access to your FICO® Score, this card offers a way to rebuild or establish credit. So, let’s dive into the details!

  • Credit Score:  Bad credit;
  • Annual Fee: $36 for the first year, then $3 per month;
  • Purchase APR: 22.45% APR Variable;
  • Cash Advance APR: 27.45% APR Variable;
  • Welcome Bonus: N/A;
  • Rewards: N/A.

Merrick Bank Classic Secured Credit Card: how does it work?

The Merrick Bank Classic Secured Credit Card is a credit-building option geared towards people who have previously faced challenges qualifying for a traditional credit card.

Credit Limit

The card requires a minimum deposit, typically ranging from $200 to $3000, depending on your credit score.

Your credit limit will equal the amount of the deposit you provide. So you can control how much to get.

Building Credit Features

You can use the Merrick Bank Classic Secured Credit Card to rebuild your damaged credit due to past incidents or start building a credit line.

So, this card offers specific features that can help you do that.

First, it monthly reports your payments to the 3 major credit bureaus in the country.

Secondly, you can freely access your FICO® Score each month.

Finally, it offers lower rates than other credit cards in the same category.

Other features

With this secured card, you can make payments how it pleases you: check, phone, or online.

Also, you can get paperless statements, so you don’t need to wait for the mail and receive them online instead.

Plus, $0 fraud liability protection and account alerts.

Multiple personalized credit card offers

Applying won't hurt your credit score

You will be redirected to another website

Merrick Bank Classic Secured Credit Card: should you get one?

Hands of seller woman and buyer man using payment terminal
Merrick Bank Classic Secured Credit Card main features! Source: AdobeStock

The Merrick Bank Classic Secured Card is a good option for people who have prior bad credit and want to fix it or are starting to build credit.

Consider the advantages and drawbacks below to see if this option would be helpful.

Pros

  • High initial credit limit: Up to $3,000;
  • Reports payments to the three major credit bureaus in the country;
  • Free FICO score access monthly;
  • No setup fee.

Cons

  • Annual fee;
  • 2% Foreign Transaction fee.

Credit score required

The Merrick Bank Classic Secured Credit Card is available for individuals with a bad credit score.

Merrick Bank Classic Secured Credit Card application: how to do it?

Ready to make your application for the Merrick Bank Classic Secured Credit Card? Keep reading to learn how to do it using the tips in our post below!

Merrick Bank Classic Secured Credit Card

Apply for Merrick Bank Classic Secured Card

Apply for the Merrick Bank Classic Secured Credit Card and rebuild your credit. Follow the step-by-step here!

About the author  /  Suzana Brito

I'm a Language Studies graduate and have always been interested in writing and sharing knowledge. By creating content about finances and related products, I believe in contributing to people achieving financial freedom and their goals in life.

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