Loans
Merrick Bank Personal Loan review: how does it work and is it good?
If you can’t afford another hard pull to your credit score, this lender will only do it when you say you’re ready. Check our Merrick Bank Personal Loan review and learn more!
Advertisement
Merrick Bank Personal Loan: no hard pulls until you’re ready, plus fast approval
In this Merrick Bank Personal Loan review you will learn whether this is the right loan for you, its pros and cons, and if you decide to get it we can show you how. Stick around!
How about not taking a huge blow to your credit score right from the get go? Merrick Bank will only make its hard pull on you when and if you decide to take the loan. Before that it will only run a soft inquiry which, if you decide not to move forward, will barely scratch your credit score.
Once you submit your application you can expect approval within a day or two, and loans range from $2,500 up to $12,000. Once you’ve been approved for the loan, your funds should show up in about a day or two.
Check out some important numbers for Merrick Bank’s offer.
How to apply for the Merrick Bank Personal Loan
This step-by-step guide will take you from zero to money in just a few simple steps.
APR | 27.99% – 35.99% |
Loan Purpose | Not specified |
Loan Amounts | $2,500 – $12,500 |
Credit Needed | 580 |
Terms | 36 months |
Origination Fee | 5% |
Late Fee | N/A |
Early Payoff Penalty | N/A |
What is the Merrick Bank Personal Loan?
Merrick Bank is the perfect place for people with less than perfect credit scores. They provide an alternative to traditional banks that caters specifically towards this population of consumers, helping them get back on their feet and eventually buy homes or cars in some cases. They offer a range of financial products including personal loans with a 5% origination fee for people:
- 18 or older
- Requires proven income
- With a Federal or State ID
- With a bank account
Merrick Bank Personal Loan reports to all three major credit bureaus, so paying your balance on-time will help build a consistent history that is needed for good card offers or even better loans.
You will be redirected to another website
By submitting this form, I agree that I am 18+ years old and I agree to the Privacy Policy and Terms and Conditions. I also provide my signature giving express consent to receive marketing communications via automated emails, SMS or MMS text messages and other forms of communication regarding financial products such as credit card and loans. Message frequency varies and represents our good faith effort to reach you regarding your inquiry. Message and data rates may apply. Text HELP for help or text STOP to cancel. I understand that my consent to receive communications is not a condition of purchase and I may revoke my consent at any time.
Is Merrick Bank Personal Loan good?
See the pros and cons of this loan next in our Merrick Bank Personal Loan review.
Pros
- Fast application and approval process
- No hard pulls until you say so
- Accepts applicants with fair credit
Cons
- Short loan range
- Origination fee of 5%
- 35.99% APR
Does Merrick Bank Personal Loan check credit scores?
Merrick Bank Personal Loans are available to applicants with fair credit, and the minimum accepted score is 580. So credit requirements are not too high. But of course the closer you are towards excellence on your reportable information such as income or assets, the higher are your chances of being approved for this loan!
Want to get a Merrick Bank Personal Loan? We will help you!
Applying for this personal loan is a simple and straightforward process which takes only a few minutes to complete. Everything is done online through Merrick Bank’s website. If you’d like to know what you must have at hand when you decide to apply, as well as a step-by-step guide on how to do it, click the link below. We have everything ready for you there.
How to apply for the Merrick Bank Personal Loan
This step-by-step guide will take you from zero to money in just a few simple steps.
About the author / Danilo Pereira
Trending Topics
How to buy cheap Avelo Airlines flights
If you want to buy cheap Avelo Airlines flights, you are in the right place. Read to learn how to find flights from $29! Read on!
Keep ReadingBull vs bear market explained: understand how they affect you
In this article, we explore the bull vs. bear market, how they can impact your investments and the current state of the markets in the USA.
Keep ReadingSouthwest Rapid Rewards: a complete guide
Get reward flight information, know how to earn maximum points, details of the new changes, and more. Learn about Southwest Rapid Rewards!
Keep ReadingYou may also like
Holiday shopping: 7 best credit card safety tips
Take these credit card safety tips to protect your hard-earned money from thieves and hackers during the holiday. Learn how to be safe.
Keep ReadingHow to fight back inflation hitting American households
Learn about the new strategies Americans are using to fight the ongoing inflation in their households and make ends meet. Read on for more!
Keep ReadingWestern Union® Netspend® Prepaid Mastercard® review
Manage your finances with ease using the Western Union® Netspend® Prepaid Mastercard® of this review. No credit check required!
Keep Reading