ConsumerAffairs Accredited Brand
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.
I must say - I am impressed and very pleased. My score was about 620 (give or take a few) when I received an invitation in the mail from Merrick Bank. I went online and was approved for $700, as the letter stated. I used it sparingly, and paid each balance down before the due date. In 7 months, the Credit Limit doubled on its own - no action required on my point. I knew about the increase when I received a credit alert from Credit Karma in my email.
My score increased significantly (about 30 points) - and now my available credit line is higher, so my score is still increasing. It's 693 currently within the 7 months of having this card. There was an annual $96.00 non-refundable fee taken from the initial $700 credit line they extended. I mean seriously - if you receive an offer and are serious about getting your credit straightened out, accept the offer (I think you can only apply with that offer if you receive an invite. Not sure). I now have the extra $1400 on a credit card, whereas I only had a lousy $300 Secured Card, thru B of A; and btw - B of A has released the $300 secured and made my card an unsecured credit card - with the eligibility to request an increase due to the credit score increase because of Merrick. Hooray! No complaints at all!
I received a preapproved statement in the mail today. My credit isn't perfect but i have nothing negative new in several years. I just paid off a 5 year car loan and I have 5 other major credit cards. I decided to go ahead with this preapproval just to open up my debt to credit ratio. I was denied credit with this company. What exactly does preapproval mean if you're not actually preapproved? It's just a scam to get you to apply for their card with no preapproval criteria met on their end. Just took a hit on a credit inquiry for nothing. You would think with charging the high interest rate and yearly fee, they would accept someone with 97% credit pay rate that I have on my report.
They offered me a credit card when I was in the rebuilding process. I have not had any bad experiences. They have been good to me. As long as I pay on time and keep my card in good standing they increase my credit limit. Thanks!
Merrick Bank gave me a card when the other banks wouldn't. For that I'm grateful. It really helped my credit score. They doubled my limit just like they promised and even bumped it up a couple more times. But now I have cards without annual fees and way cheaper interest. They don't offer cards without the annual fees and they never lower the interest. This is a rebuilder card and it is what it will always be. So, I just make a small purchase occasionally, pay it off, and put it back up. To help with the credit utilization.
Merrick Bank provides a safe way to extend credit services to me as a customer. They are fair and watchful of usage in unfamiliar locations by verification process which I respect, and a reminder to me to pre-inform of travel use to avoid decline.
The online app is poorly designed at best. I check the remember me box, and it usually does not remember my userid so I have to enter it again. It would be nice if you could see statements or at least a summary through the app. Sometimes I need to login online (I.e., through my computer because I cannot see what I need to see through the app on my phone and iPad). I would like to see the balance as of my last statement, not just the current balance and minimum payment. I want to see what I need to pay without incurring finance charges. I cannot see this in the app.
Also, some of the features in the app are not user friendly. For example, when looking at Recent Transactions, there is a bar that is labeled 'Pending Transactions'. You have to click on the down arrow to get it to actually show you the pending transaction. You should be able to click anywhere on the blue bar to get it to work. Also, there should be a way to go back further to see transactions further back - say about 3 months worth. The Search transactions function should allow you to search for an amount in addition to or instead of (option) Merchant Name. Also, when you enter the search criteria, you should be able to just hit enter to get it to search.
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My experiences have been fine. Only reason for contacting the bank was to get my due date changed. Whereas they were very compliant their process was different and a bit confusing compared to some of the other banks. And on a personal note, their CSRs could loosen up a bit and be a bit more friendly! Joking ??? Was not their top note??? Otherwise I would recommend them!
I had a question about my credit card balance and was helped by one of the best customer service reps I have ever had in my life. She was very friendly and helpful. Hope you are able to look her name up and give her a raise and keep her. BTW she spoke perfect English which is important to me, especially these days, plus I was a customer rep myself once. Great doing business with you.
I found Merrick to be a great bank to have a credit card through. They are prompt with adverse issues, and doubled my credit line after showing good faith without my asking. I have a card with another bank, and do not get this same courtesy. Thank you for your service.
I have been recovering from my wife's death and a foreclosure; Merrick Bank has given me the extra financial flexibility that I've needed raising 2 kids. I was expecting my credit line to increase when they said it would... and it did. Things are getting better for us... in part thanks to Merrick Bank.
I would recommend Merrick Bank, My experience has been positive. Opened account in May of this year with a client of $550. Within 6 month limit went to $1100 which was great. It help boost my credit score, so I look forward to sticking around, and I encourage my friends to apply as well.
Merrick's outstanding means to be accurate & fair means the most to me. Also the fact that they're trustworthy and dependable. If they say that you're due for a credit line increase they honor that date. Impressive!!!
I have decided to write a Review on Behalf of my Credit Card with Merrick Bank. I apply for a credit card with Merrick Bank last year on August 2016. I thought I will be denied due to my credit score. I was very surprise that this Bank gave me a credit card with $500.00 and I had an increase in 6 month of $500. I pay my card before my due date which is the 21st of each month. I have never had any problems with accessing their website. They have everything up to date on my account. Their fees are reasonable and my credit score has been going up.
I am truly Thankful To Merrick Bank for giving me an opportunity to built my credit in a responsible way and for trusting me with their credit amount. I will keep Merrick Bank card as my favorite use and I will permanently keep them as my creditor. Thank You Merrick for choosing me as one of your customer. I will continue to tell my friends and family members that when other Banks with high interest and offered only a 300.00 dollar card Merrick Bank offer me a 500.00 dollar credit card. To those who want to built your credit with this bank my advice is to PAY way ahead and use your card wisely.
I have been very impressed with the Merrick Bank credit card. Their customer service is always stellar and the way that they calculate fees, etc is fair and keeps their customers in mind. I would highly recommend this company to my friends.
I have been with Merrick for about 8 months and one of the reasons I signed up is because of the double your credit line. Well after 7 statements and on time payments as promise. My credit line was double. In addition they process payments fast.
The first time I used this card to make a purchase and the credit card company fails to notify me of my payment date or send a bill. However, the company was very good about sending me a late payment reminder. Very poor performance! I will be paying off my balance and closing this account.
I’ve had my account for about 8 months. I have no complaints!! Merrick said, "Pay on time, establish a reliable, consistent payment record, and we’ll reward you." I did, and they did. Be an adult, be responsible, and you’ll be treated accordingly. I have no problems with how Merrick has dealt with me, and you shouldn’t either.
I have nothing bad to say about Merrick bank. They have treated me better than I ever been treated by this type of industry. I would recommend them to everyone that is looking for a great experience. I almost have an unnatural affection for them.
My account was opened two-three years ago with a $400 credit limit. After aggressive use and payments, in only a few months, Merrick increased the credit limit to $700 and then $1,400 after only a few more months had elapsed. Since then, I've been granted three more $200 increases on regular intervals and the limit is $2,000 today. Great. On the other hand, this account is the single and only revolving account I maintain - considering more than 15 relationships where my payment in full within the new cycle failed to qualify me for interest-free standing.
When I carefully added up the several payments made during and added precisely the amount to meet the previous month's statement balance in full - on the last day of the period which I had done with nearly every other bank and enjoyed the interest waived status, Merrick rejected my payments as satisfactory insisting that I had failed to meet their terms of consideration. Instead, they asserted their terms stipulate my payments must have been received by the payment due date whereas every other bank had accepted as qualifying - payments posted within the cycle, even if only on the last day.
I had been using my Merrick Bank account on a daily basis, multiple occasions frequently except now I must bail and insert my Capital One Quicksilver 1.5% cash back in its place. This quarter, Discover is offering a 5% cash back for purchases at Gas Stations and Wholesale operations like Costco (which has finally gotten rid of American Express as the exclusive card accepted), 5% is substantial especially when I'm carrying high balances subject to 25% APR carrying costs.
I recommend Discover, Capital One or any cash back account over the straight revolving account and suggest that if you have the cash flow to full-pay your statements month to month, just funnel your cash through your card and get the discounts in rebate form. In the positive, there aren't any annual fees, set-up costs or authorized user fees asserted and they've been very generous in reviewing my account and increasing my limit accordingly.
The best feature of my Merrick credit card was the credit limit doubled after I made a certain number of payments on time. I liked that very much. And I like being able to pay my bill with my phone. It's just very easy and valuable features I like to have in credit cards.
It is easy to get to my account and view the statements. I wish it was easier to see transactions as I don't have Office on my laptop. I really appreciate the fact that my payments post very quickly and that my available credit is increased right away. I am going to quit using a Capital 1 card because it takes over a week for my payments to post.
Merrick was the card I was able to rebuilt my credit with. They reviewed my account 2 times ahead and gave me $500 credit line increases each time. I have built my credit line with them as high as any of my major credit cards now. They do exactly as they promise and review your account every 6 months without you even having to ask for an increase. I wish they had more credit cards.
I agree like so many others I send my payments in 2 weeks before they're due and Merrick Bank has taken over 20 day past the due date to cash my checks. Then they charge the fee's and they say you're late and we didn't get your check on time. I have went to the post office and took a date and time stamp photo of myself mailing their payment. Well 15 day's over the due date they again cash the check and charged the fees. I told them that I have copies of the date on my checks and they match the date I mailed them and the photos. They just keep saying you were late getting the payment to us. IT'S TIME FOR EVERYONE TO STAND UP AGAINST THIS PRACTICE AND SEEK LEGAL HELP! If someone know an attorney who would like to represent us in a class action suit. Post it so we can all sign up.
From the very beginning Merrick Bank continued to ask me for information I'd already sent. When I finally got the loan, they wouldn't let me pay over the phone without a routing number and bank number. Sure, a company reserves the right not to take Visa Debit or Credit, but it is not in the best interests of their customers AT ALL. It jeopardizes the security of people info and leaves us vulnerable to identity theft. In addition, they charge people $10 for every phone payment they make and STILL refuse Visa Debit. So I decided to mail my payment. Which was never received and I was harassed by their people calling consistently to get a payment then told that their processing dept was behind. Not my problem but evidently they felt it appropriate to make it mine.
Then when they hadn't received my payment and were about to repo my RV I was told the processing dept wasn't behind. So I was forced to give my routing number (which I'm personally uncomfortable with) in order to get the payment on time and was then told they can't make a stop payment on the ones I've sent. Every company I've ever worked for, loan or otherwise has allowed for stop processing on checks and accepted VISA Debit. Nothing like horrible internal communication set up and a really bad customer policy to entice people to want to do business with you again! Be forewarned, the customer service people we spoke to were mostly nice. Admittedly, I was that frustrated jerk to the guy I spoke to last but I asked for the supervisor and was never directed there once I paid and he also mocked me for my concerns of giving out my routing number. I plan to move my loan the second I can.
Initially everything is going to seem wonderful. Decent amount on the card... Increase after a few months of paying on time... and then the rip off starts. You will continue to make your payments on time but Merrick Bank will post the payments late and charge outrageous late fees... and that is besides that outrageous interest rates. Beware!!!
I recently sent in a balance transfer money order to Merrick Bank on 11/17/2017. The check cleared Merrick Bank on 11/29/2017. After a week of checking my (I'm an authorized user and payee) account for payment status, I found out that the payment had been placed in dispute status. Apparently they cashed my check and did not apply the money to my account while continuing to charge over limit and late fees. The amount that I sent was for payment in full. I have sent them the canceled check, my bank account records, and all of the required documentation. I was told that the "investigation" will take up to 4 weeks while I am still accruing late fees and damage to my credit on an account that I paid off. How is this legal?
Back in September of this year I had called to request a credit increase. I was told by the rep on that day that the bank only does automatic reviews and increases and that my account would be reviewed in November. I called today (December) to follow up on this and I was informed by another rep that it would not be reviewed until at least March of next year. Imagine the surprise when I was upset because I am being told two different things. Seriously considering finding another company and leaving Merrick in the dirt.
Merrick Bank has fulfilled the promise of doubling my credit line. No other company has offered anything this good. The only flaw I have found is the minimum payment amount. Would like to see 25.00 instead of 35.00. Thank you.
Information for Cash Advance - The Customer Service Rep was very Helpful in reminding me that the information I needed was in the packet sent to me by Merrick Bank which I had forgotten about so I was Able to do what I needed.
I had very good credit until my experience with Merrick Bank. I've been a cardholder for 4 years, always pay on the 3rd of the month. They hold my payment until it is 1 day late & then post it! Of course charging me a late fee. They've done this 2x in the last 3 months. So I decided to pay online instead. They now claim they never received that payment also! I'm done with them. Be very careful!
I would recommend Merrick as a credit card honestly; I have not had any problems with the credit card or customer service. They increase by credit limits on a regular basis to a very decent limit. I am satisfied.
Merrick Bank Company Information
- Company Name:
- Merrick Bank
- Company Type:
- Year Founded:
- Postal Code:
- United States