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Merrick Bank

Merrick Bank
Overall Satisfaction Rating 3.46/5
  • 5 stars
  • 4 stars
  • 3 stars
  • 2 stars
  • 1 stars
Based on 168 ratings submitted in the last year

Merrick Bank is a top 20-issuer of Visa® credit cards with nearly two million customers, specializing in helping customers establish, re-establish, or rebuild their credit. The Bank offers two types of lending products for this purpose, unsecured credit cards and secured credit cards. Additionally, Merrick Bank provides consumer financing for marine and recreational vehicles, and Merchant Services throughout the United States.

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Merrick Bank Reviews

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Rated with 4 stars
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Verified Reviewer
Original review: March 3, 2020

I got the Merrick Bank credit card offer about 4 years ago. I had never heard of them before and did some researching. It seems that offer 2 different cards, one secured and one that is not. I was going to give 5 stars but took one away after reading some other reviews. I took one star away based on they are closing accounts of long time customers based on no activity without warning them. Lowering their credit tremendously and then finally cut off. Why cut off customers that should be considered as being loyal and has been a great benefit for both the business and the customer.

My experience with Merrick bank has been a good one for the most part. I was approved for the unsecured card to help establishing credit and assist with my financial situation. I have to agree with some reviews from others that suggest problems with customer service over the phone. I try my best not to have the need to call too often. When needing to call, the experience is not all that great. However, this is a Great card for people who need to establish credit, build up their credit score and also help making purchase with monthly payments. I also like the name Merrick. It is a cool name for a credit card.

I went through this site and almost read every review from this site and some on other sites. MANY customers have problems with mailing in their payments. Something Definitely needs to be done about that!! I pay online through the Merrick Bank website. I make sure I pay by or before the due date and always check to make sure the payment went through. So far I never have been late in the 4 years and have received at least 2 credit line increases. If you are going to use this card, I would suggest also adding some other cards from Capital One, Bank of America, or any type of Secured card in addition.

In my case, I used Capital One and even use a program with Finger-hunt to get my credit going. Working at the call center for this card would be very challenging. So many people calling in claiming to have sent their payment when some of them did and some of them probably did not. When other people lie it makes it hard for everyone involved. Then you got legitimate fraud cases and some that they just made up so they don't have to pay for it. With that in mind, I can look past the customer service over the phone sometimes. So far I never had a problem with fraud on this credit card. I do not let anyone else use it and careful who I do business with also. Also wanted to note that fraud is Not when you use the card and you are not happy with the Merchant. You should contact the merchant and work out the problems.

The Interest rates are high. Very Thankful I did not get a card with annual fees! I avoid any card with annual fees! If you use the credit responsibly and make payments on time then it will pay off. Based on the reviews and my personal experience, I would avoid mailing payments!! If you do not have a checking account, then that should be a number one goal to have.

Lastly, I just hate how Merrick bank is just cutting off long time customers. These long time customers may look up to Merrick bank as someone that helped them build credit and now time to throw them away! The same could also be said the other way around. The customer is no longer using the card, especially over a year. Looks like they could come up with some way to Reward the customers who have been with them for many years by keeping their account open with some kind of warning before closing. They could still make some money. Makes no sense. Or maybe a a card that is competitive to some of the other ones available.

But Merrick should give their best customers who have made years of payments with them some notice "Hey use your card or lose it!" But no, they just send out a letter saying you have been cut off not even saying thank you for being a VALUED customer. Instead words of no matter what we will not open your account again. This is VERY WRONG!!!!

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9 people found this review helpful

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    Rated with 4 stars
    Verified Reviewer
    Original review: Feb. 3, 2020

    I was anxious to rebuild my credit after going through Bankruptcy 6 years ago. I was warned about bogus credit offers and sure enough I received several offers in the mail that looked pretty questionable. Merrick was the first credit card company that seemed to look fairly legitimate so I applied and was accepted for a modest credit line. I put the card to use right away with small purchases which I paid off each month and after a year or so they increased my credit line automatically. Later I had some emergency expenses that came up so I carried a balance for awhile but paid it off after about six months. The interest rate I paid was fairly high, but I figured that's what you expect from a starter credit card. I like the online account and payment system which seems to work well. I've never had to call customer service so I can't say anything about that part of it, but overall I've been very happy with Merrick.

    11 people found this review helpful
    Rated with 4 stars
    Verified Reviewer Verified Buyer
    Original review: Nov. 9, 2019

    Following my divorce in 2012 my credit got shot through no real fault of my own. I decided to get the Merrick secured visa to start rebuilding my credit. I've now had the card for about 5-6 years and have always found customer service to be super friendly and helpful. The only real downside to this card was the limited line increases which only happened after about 2-3 years and were initially quite small. However, as my score has increased over time, these have become a bit larger and more frequent. If you're trying to rebuild your credit, and are willing to make payments on time in the future, and have the patience to do so, then I would definitely recommend this card.

    15 people found this review helpful
    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Nov. 2, 2019

    In May of 2019, I was alerted by Merrick Bank that my credit card had been used in a fraudulent transaction. When I received the call, I was actually traveling to Lowe's in Delaware to use my card for purchases I needed. The representative informed me that an immediate cancel and re-issue was needed for my card; but she allowed me to use my card for the immediate purchases I needed, as long as I agreed to call in after I made my purchases and then Merrick would cancel and re-issue. Three months later I lost the re-issued card and had to call back in to perform another cancel and re-issue. In both of those situations, I was treated courteously and respectfully, and the new cards arrived in less than a week.

    16 people found this review helpful
    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: March 30, 2019

    I'd never heard of Merrick Bank before I received a pre-approval offer in the mail. The promotional offer was too good to pass up, so I applied. I could not be more pleased with this card. Started out as a reasonable and generous credit limit and have been given several increases automatically with no hit to my hard inquiries. Has served to increase my credit score. Monthly FICO scores are ACTUAL FICO scores and not just bureau scores. It took me a little while to adjust to the new website design, but it is straightforward and tells you EXACTLY how much interest will be charged and how long it will take to pay off your balance if you make only the minimum payments. The minimum payment amounts are manageable if you need to use your card for emergencies.

    OUTSTANDING customer service. I've never had a problem, so I've never needed to call anyone, but I receive friendly emails and letters when they need to communicate information regarding my account. Merrick Bank provides you with the resources to build a solid credit foundation and they reward responsible credit use!

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    34 people found this review helpful
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    Rated with 1 star
    Verified Reviewer
    Original review: March 25, 2020

    I have been trying to get Merrick to honor a 150 dollar payment since 3/22/2020 I have explained that I am stuck out of town and that my banks computer system is down due to the Corona virus situation. They have refused to let

    2 people found this review helpful
    Rated with 1 star
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    Verified Reviewer
    Original review: March 9, 2020

    Merrick credit card was my emergency card they canceled my credit card because of inactivity without warning. I have a credit score in the mid 700s. I've been a customer for years. It's just a crappy thing to do to their customer. Also, there's no way to reinstate it. I'll take my business elsewhere.

    4 people found this review helpful
    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: March 3, 2020

    I absolutely Love how Merrick raises my credit periodically due to good payment history (even when I have a high balance). Customer service is very helpful and I like the mobile app. Everything is really easy to use.

    2 people found this review helpful
    Rated with 2 stars
    Verified Reviewer Verified Buyer
    Original review: March 3, 2020

    Had several increases. Always pay way over limit due. I have Requested lower rate and they refuse to do it. I also notice that when I have paid on their site, they do not record it right away. They wait 3-4 days so the amount they charge for interest is more. I never look at my bill mailed to me. I just know I owe it and have bank send in. This one day I looked and I had paid, over 300.00 in interest in 7 months and highest balance owed was 2500.00 of that. I am working on paying them off. They do not reward you for perfect payments with lower interest rate.

    7 people found this review helpful
    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: March 3, 2020

    My experience is credit card related. I'm working on building my credit score to well over 700. When Merrick offered and approved me for a credit card my score was in the high 500. Over a year later and with consistent credit increase (without having to ask for one) my current score is 693. I can attribute this to Merrick's excellent customer service.

    6 people found this review helpful
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    Merrick Bank expert review by Beverly Harzog

    Merrick Bank was founded in 1977 and is a top-20 U.S. issuer of Visa cards. Merrick Bank serves over 1,500,000 cardholders and specializes in credit programs that help consumers establish or rebuild their credit histories.

    • Financial education: Merrick Bank offers some excellent advice in “The Money Smart Financial Education Center” on its website. The bank also gives cardholders a look at their monthly FICO score, which is a valuable benefit.

    • Unsecured credit card: Merrick Bank offers Classic Visa and MasterCard credit cards. To apply, you need to have received an offer that has an “Acceptance Certificate Number.” This number is used to apply for the card online.

    • Secured card: For those who can’t qualify for an unsecured card, this bank offers Merrick Bank’s Secured Visa Card. This card helps consumers who are building or rebuilding their credit. A deposit between $200 and $3,000 is required. The credit limit equals the amount of the deposit. There’s a $36 annual fee.

    • Easy application: The company lets consumers apply for credit cards over the Internet and get an immediate acceptance or denial online.

    • Low rate: The APR for purchases is 17.70 percent. This is a good rate for a secured credit card.

    • Pay your bill online: It’s easy and free to pay your bill online. The bank also offers free tools to help manage your account online.

    • Best for: Merrick Bank focuses on consumers who need to establish or rebuild credit.

    by Beverly Harzog Credit Cards Contributing Editor

    Beverly Harzog is a nationally-recognized credit card expert, consumer advocate and author. She’s appeared on Fox News, CNN Newsource, NBC New York and more. Her advice has been featured in The Wall Street Journal, USA Today, Money Magazine,, The New York Times, Kiplinger, Real Simple,, Family Circle and much more.

    Merrick Bank Company Information

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

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