Merrick Bank

Merrick Bank Reviews

Merrick Bank Reviews
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Overall Rating4.2 out of 5
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About Merrick Bank Reviews

Merrick Bank specializes in programs for those looking to build or rebuild their credit. It also provides consumer finance options to marine, RV and horse trailer dealers. With its merchant acquiring services and independent sales organizations, it supports a wide range of merchant categories and offers multinational and dynamic currency services, next-day funding and daily reconciliation.

Pros & Cons


  • Cards and loans for low credit scores
  • Financial education resources
  • goScore program


  • Minimum $25,000 for CDs
  • No balance transfers

Bottom Line

Merrick Bank specializes in credit repair products and services for people looking to rebuild or fix their credit. Some of its credit cards come with high fees, but its Double Your Line credit card has double credit limit increases.

Featured Reviews

Hobart, IN

I was happy when I signed up, I use your card often and I'm very happy with it. I originally had a little problem but it was just because of some stuff that I had to change becaus...

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Albuquerque, NM

Have been very happy with the service, communication and benefits that Merrick Bank has provided. Would definitely recommend Merrick Bank to anyone in the market for a financial i...

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What is Merrick Bank?

People looking to raise their credit scores can use Merrick Bank’s unsecured and secured credit cards. These cards offer regular credit increases and access to Merrick Bank’s free online cardholder center and goMobile app. With goSpecial offers, cardholders also have access to discounts and savings at participating organizations.

Merrick Bank also offers recreation loans for people with discharged bankruptcies, charge-offs, collections and judgments. Its recreation loans can be used to purchase items like a boat, RV or horse trailer.

Those looking for investments might be interested in Merrick Bank’s certificates of deposit (CDs), with term options ranging from three months to five years. You can access all accounts 24/7, including Merrick Bank’s joint accounts.

Merrick Bank also offers free financial education on its website. Through goLearn, Merrick Bank addresses how to maintain good credit, create a budget and manage money to help individuals and families build smart financial habits.

How does Merrick Bank work?

For borrowers interested in Merrick Bank’s credit card options, you can submit an online application or call the customer service number, but Merrick Bank also sends out mail-in offers inviting you to apply online. CDs can be opened online as well. If you need more information regarding a recreational loan, contact customer service and inquire about dealers offering Merrick Bank’s products.

Merrick Bank is insured by the Federal Deposit Insurance Corporation (FDIC), which means deposits are federally insured up to $250,000 per depositor. Merrick Bank also takes additional steps for customer security online, with advanced encryption and firewall technology, to ensure data security.

Merrick Bank fees

With the Double Your Line credit card, customers receive an annual percentage rate (APR) of up to 27% and double credit increases after seven months of on-time payments.

Merrick’s secured credit card requires a minimum deposit of $200 and a $36 annual fee ($3 monthly after the first year). It includes a 17.45% APR, a 2% foreign transaction fee for purchases made overseas and a 22.45% APR on cash advances, with an additional $10 or 4% charge on the full amount of the withdrawal. Members can purchase additional cards for $12. All rates and fees are accurate as of the time of publishing.

CDs require a $25,000 minimum deposit.

Merrick Bank FAQ

Does Merrick Bank have a grace period?

Yes, Merrick Bank offers a five-day grace period on its loan payments. Payments made after this grace period incur a late fee.

Can I have a co-applicant with a Merrick Bank card?

No, Merrick Bank does not allow co-applicants with its unsecured or secured credit cards, but it does allow you to add authorized users.

Does Merrick Bank offer balance transfers?

No, Merrick Bank’s credit cards do not currently include a balance transfer option.

Can you request a credit limit increase with Merrick Bank?

Each year, Merrick Bank reviews its customers’ accounts and provides regular credit limit increases. These are offered to customers who are in good standing and pay a portion or their full balance on time.

Is Merrick Bank legit?

Merrick Bank is a legitimate bank specializing in helping consumers rebuild bad or low credit. We like that it offers a free monthly credit score from two out of the three major credit bureaus, Experian and TransUnion.

However, compared with some other secured credit cards, Merrick Bank’s products have high annual fees, and the cards offer no rewards on credit card purchases. Individuals interested in a no-frills credit card to build or establish their credit get the most benefit from these products.

Merrick Bank Reviews

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Page 1 Reviews 0 - 5
Verified purchase

Reviewed July 26, 2023

In my experience with Merrick Bank during the time that I have been a customer I've gotten nothing but great service. The way I've handled my business has continually been rewarded and I'm very satisfied. I've not had any type of problem that I can think of.. All I can really say is that it's a great card to have in your wallet. My husband also enjoys the benefits of his. I'm not sure what else I can say except thanks for the opportunity you have given us both.

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    Verified purchase

    Reviewed June 2, 2023

    Times are tough for everyone and I have worked very hard to get my credit restored. Due to BOA antics I had to file for bankruptcy twice in 6 months and both times I asked to withdraw and the judge did so and recused both. However, I have written to bureaus several times for it to be removed from my file to no avail. Because of this I have a higher interest rate and I have to accept it until that is removed from my credit file. All in all, I am grateful for the credit line to rebuild my credit. I have always made payments on time and more than minimum due. Thank you.

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    Verified purchase
    Customer Service

    Reviewed March 29, 2023

    I can not asked for a better Credit Card Company, Merrick Bank has been the PERFECT situation for me and I am truly grateful to be a customer and to be a part of beautiful customer service that you give. I NEVER had to call to asked for a credit increase and anytime I had a problem with anything you guys ALWAYS took completely great care of me. I want to say thank you and keep up the wonderful work. I wished you had a bank that I could deposit money into because Merrick Bank would my personal bank and I will do ALL my transactions to you.

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    Verified purchase
    Customer ServicePunctuality & Speed

    Reviewed Nov. 23, 2022

    Updated on 02/10/2023: I was happy to sign for a new credit card by Merrick to continue to grow my already good credit score of 730. Merrick sent the card, I used it and made my first payment right away. I used it the second time and wasn't aware when payment due dates. I noticed a huge drop in my score of 79 points, that was listed to Merrick said I had a late payment,...but I never received a payment due date. I immediately paid the balance of $190, called them and customer service rep. said my due date is the 9th every month. But it was listed Nowhere on the original paperwork I was sent with the credit card. I wrote a letter asking them to delete the late payment on my credit and I'm Still Waiting for that correction to my credit score!

    Original Review: My experience after joining the Merrick family had been experiencing exceptional care and service. They are quick and easy to apply with the application process, and provide a rapid positive response. I can view a future and lifetime relationship, that can be passed on to family and friends. They are involved, and welcomed into making those daily essential purchases, and a dream of a life-time vacations. Thank you Merrick family!

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    Verified purchase

    Reviewed Nov. 18, 2022

    Overall I enjoy the card and use it over most of my other cards, my husband had one and I he was very happy with it. They always followed through with increases as mentioned when signing up or applying for card. He uses his quite often also. I applied and was approved and got my first increase like they said I would, I never miss a a payment and pay early but for whatever reason my increases stopped for no reason. I have waited thinking I was off on when I would get one but still nothing. Either way it's still a great card. I use it often. It offers cash back and is accepted anywhere I shop online or in store and it's secure. Have never once had hacking issue or fraud charges.

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    Reviewed Sept. 23, 2023

    I called because I tried to do a transaction yesterday and it declined twice so I had to use a different card. I wanted to dispute the transaction but I was transferred 5 times until the last lady couldn’t help me and had a very nasty attitude. She then told me to call the merchant and see where the transaction came from. This is the first time I experienced this unprofessionalism.

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    Verified purchase

    Reviewed Sept. 22, 2023

    Thank you for your services. I am so grateful to know that I can count on you and your card whenever I need it. Your terms and conditions are more than fair, and I would recommend you highly to anyone and everyone who who are interested in getting a line of credit. Thank you again. Your friend, Robert **

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    Verified purchase

    Reviewed Sept. 20, 2023

    I am very very satisfied with my credit card. I have been able to use it when deemed necessary and I love being able to do that. I feel less stressed having my credit card. So thank you very much for giving me a chance. I have had a great experience. I have no complaints.

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    Verified purchase

    Reviewed Sept. 20, 2023

    My overall experience with Merrick Bank has been good with no issues to this point. When I needed service I didn't have any issue at any time. No hassle with payments and credit increase when payments made on time over a certain period of time. Online payments are easy with auto-pay you set and forget.

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    Verified purchase

    Reviewed Sept. 20, 2023

    I was very surprised to be approved for a Merrick Bank card. I believe I have been given a second chance at improving my credit score by handling this card with more responsibility. I also believe in learning from past mistakes: don't charge more than I can pay off in 30 days, or a reasonable amount of time. Thank you for allowing me to "prove" myself creditworthy!!

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    Merrick Bank Company Information

    Company Name:
    Merrick Bank
    Company Type:
    Year Founded:
    Postal Code:
    United States