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Merrick Bank Credit Card Review 2026: Is It Worth It?
July 1, 2025
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Bottom Line: Merrick Bank offers two credit-building cards — a secured option and an unsecured option — for people with bad credit. The secured card is straightforward and affordable. The unsecured card is harder to access (requires a mail offer), carries a variable APR up to nearly 35%, and charges fees that vary based on your credit profile. Both report to all three major bureaus, which is what matters most for credit building.
*Kudos credit ranges are a variation of FICO® Score 8, one of many types of credit scores lenders may use when considering your credit card application.
What's New in 2026
A few things worth knowing before applying in 2026.
Merrick Bank has grown significantly. Merrick Bank now has over 18,000 customer reviews on Trustpilot, making it one of the more reviewed credit-building card issuers. The volume of real-world feedback — both positive and negative — is larger than it was in prior years, and we've incorporated more of it throughout this review.
The unsecured card still requires a mail offer. This hasn't changed, but it catches many applicants by surprise. The Merrick Bank Credit Card (unsecured) cannot be applied for online unless you already hold a mailed pre-qualification offer with a certificate number. If you haven't received a mail offer, the only card you can apply for online directly is the secured version.
Variable APR on the unsecured card has widened. Current rates top out near 35% variable. The secured card carries a lower variable APR — around 22% variable — which remains more competitive for this credit tier.
Annual fee structure on the unsecured card varies. The first-year fee on the unsecured card ranges from $0 to $72 depending on your credit profile. This is assigned at application — you won't know your exact fee until you receive the offer.
About Merrick Bank
Merrick Bank was founded in 1997 and is headquartered in South Jordan, Utah. It operates as a subsidiary of CardWorks, Inc., a privately held consumer finance company. The bank's focus is narrow by design — credit cards and specialty loans for consumers who fall outside the approval range of traditional issuers.
It reports to all three major credit bureaus (Experian, Equifax, and TransUnion) on both of its credit card products. That reporting consistency is Merrick Bank's most important credential as a credit-building lender. Cards are issued as Visa products, accepted wherever Visa is accepted.
Merrick Bank does not have physical branches. Account management happens through its website and mobile app. Customer service is available by phone.
The Two Cards at a Glance
- Merrick Bank Classic Secured Card
- Merrick Bank Credit Card
[[ SINGLE_CARD * {"id": "660", "isExpanded": "false", "bestForCategoryId": "15", "bestForText": "Credit Builders", "headerHint": "Accessible to Lower Credit Scores"} ]]
Merrick Bank Classic Secured Credit Card — Full Review
The Merrick Bank Classic Secured Card is the more accessible of the two cards. Anyone can apply online without a pre-qualification offer, and approval is available across a wide range of credit backgrounds — including recent bankruptcy, thin files, and poor credit history.
How it works. You choose your own credit limit by selecting your security deposit amount — anywhere from $200 to $3,000. That deposit is held as collateral and is fully refundable if you close the account in good standing. Your credit limit equals your deposit, so a $500 deposit gives you a $500 limit.
Important note on the annual fee and your credit limit. The $36 annual fee for the first year is charged to your account, which reduces your available credit immediately. If you deposit the minimum $200, your available credit is effectively $164 until you pay down that fee. Consider depositing at least $236 if you want your full $200 in usable credit from day one.
Credit limit increases. After nine months of responsible use — on-time payments and staying under your limit — Merrick Bank reviews your account for a credit limit increase. If approved, they increase your limit without requiring an additional deposit.
Variable APR. The purchase APR is approximately 22% variable. That's on the higher end compared to some secured cards with no APR, but it's significantly lower than the unsecured card's rate and is in line with the broader secured card market. Pay your balance in full every month and the APR is irrelevant.
Free FICO® Score. Cardholders receive a free FICO® Score each month, which is useful for tracking credit-building progress over time.
Foreign transaction fee. This card charges a 3% fee on purchases made outside the United States. If you travel internationally or shop on foreign websites, plan accordingly.
Our take. The Merrick Bank Classic Secured Credit Card is a workable option for bad credit applicants who want a straightforward, no-surprise secured card. The fees are modest, the credit limit range is generous for a secured product, and the three-bureau reporting is what you need for building credit. Its main drawback vs. competitors is the annual fee — some secured cards like the Capital One Platinum Secured Credit Card charge no annual fee at all.
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Merrick Bank Credit Card (Unsecured) — Full Review
The Merrick Bank Secured Credit Card is an unsecured card, meaning no security deposit is required. That's the primary appeal — access to up to $1,350 in credit without tying up any cash upfront.
Application process — critical difference. Unlike the secured card, this card cannot be applied for directly online. To apply, you must have received a pre-qualification offer in the mail containing a certificate number. You can also search for an offer on Merrick Bank's website by entering your last name, last four digits of your Social Security number, and ZIP code. If you don't have an offer and can't find one through the search tool, you cannot apply for this card.
Credit limit. Starting limits run from $300 to $1,350, assigned based on your credit profile at application. The amount you receive is determined at approval.
The Double Your Line feature. If you use your card and make at least your minimum payment on time every month during the first seven months your account is open, Merrick Bank will automatically double your credit limit. A $500 starting limit becomes $1,000. A $700 starting limit becomes $1,400. This is one of the most transparent automatic limit increase policies in the subprime card market.
Variable APR. This is the card's most significant drawback. The variable APR tops out near 35%, which is among the highest in the credit card market at any tier. The exact rate you receive depends on your credit profile. If you carry a balance even once, the interest charges can quickly exceed the value of having the card at all. This card is only appropriate for people who will pay in full every single month.
Annual fee. The first-year annual fee ranges from $0 to $72 depending on your creditworthiness at application. After the first year, the monthly fee ranges from $0 to $6. You won't know your exact fee until you receive the mail offer.
Free FICO® Score. Same as the secured card — free monthly FICO® Score access is included.
Foreign transaction fee. 3% on purchases made outside the U.S.
Our take. The Merrick Bank Credit Card's core promise — unsecured credit without a deposit, with an automatic limit doubling — is genuinely compelling for bad credit applicants. The execution is complicated by the mail-offer requirement (you can't simply apply) and a variable APR that punishes carrying any balance severely. If you receive a mail offer and can commit to paying in full, it's a legitimate credit-building tool. If you don't have the discipline to avoid carrying a balance, the interest charges will cost you far more than the credit-building benefit is worth.
Fees & Costs — Full Breakdown
All APR figures are variable, meaning they can change over time based on an underlying index rate.
Merrick Bank Classic Secured Credit Card:
- Annual fee: $36 the first year (charged to your account), then $3/month ($36/year) thereafter
- Purchase variable APR: ~22% variable
- Cash advance variable APR: ~27% variable
- Foreign transaction fee: 3%
- Late payment fee: Up to $40
- Returned payment fee: Up to $40
Merrick Bank Credit Card (Unsecured):
- Annual fee: $0–$72 the first year (varies by offer), then $0–$6/month thereafter
- Purchase variable APR: Up to ~35% variable (exact rate assigned at approval)
- Foreign transaction fee: 3%
- Late payment fee: Up to $40
- Returned payment fee: Up to $40
The fee that catches people off guard. On the secured card, the $36 annual fee is billed immediately when the account opens, which reduces your available credit from day one. On the unsecured card, fees similarly reduce your available credit. This means your effective usable credit in month one is lower than your stated limit.
Pros and Cons
Pros
- Both cards report to all three major credit bureaus (Experian, Equifax, TransUnion) monthly
- Secured card is available to apply for online with no mail offer required
- Secured card accepts deposits up to $3,000, allowing higher starting credit limits than many competitors
- Unsecured card requires no security deposit — no cash tied up
- Double Your Line feature provides automatic, transparent credit limit doubling after 7 months for unsecured cardholders
- Free FICO® Score monthly on both cards
- Autopay and account alerts available through app and website
- Merrick Bank has 18,000+ Trustpilot reviews and a generally positive rating for customer service quality
- Secured card's ~22% variable APR is competitive within the secured card tier
- Accepted anywhere Visa is accepted
Cons
- Unsecured card requires a mailed pre-qualification offer to apply — cannot be applied for independently online
- Unsecured card variable APR can reach nearly 35% — one of the highest rates in the market
- Both cards charge a foreign transaction fee of 3%
- Annual fee on secured card reduces available credit from day one
- No rewards program on either card
- Annual fee on unsecured card varies and may not be known until you receive the offer
- Credit limit increases on secured card not guaranteed after 9 months — Merrick Bank must approve them
- Some users report credit bureau reporting delays
- Payment processing complaints appear in customer reviews (disappeared payments, autopay failures)
What Real Users Say
Merrick Bank holds a strong Trustpilot presence with nearly 19,000 reviews as of early 2026. The themes are consistent across platforms.
What cardholders praise. Second-chance approvals are the dominant positive theme — Merrick Bank is frequently described as one of the only options available after bankruptcy or other significant credit setbacks. Many users report steady credit score improvements of 50+ points within 12 months of consistent on-time payments. The automatic credit limit increases are widely praised, with users noting that the Double Your Line feature delivers as advertised. Customer service is frequently described as non-threatening and professional compared to other subprime card issuers.
What cardholders criticize. Payment processing issues appear across multiple review platforms — some users report payments that don't post promptly or autopay failures that result in missed payment marks. Disputes and fraud resolution have generated extended timelines in some cases. A segment of longer-term cardholders reports frustration that credit limit increases stall after the initial doubling period, with some users holding the same limit for years despite maintaining excellent payment history.
One recent reviewer noted that Merrick Bank was the only company willing to extend credit immediately after a difficult financial period, helping them rebuild nearly 200 points in two years. A critical reviewer on ConsumerAffairs warned about payment confirmation issues and slow fraud resolution timelines.
Better Alternatives to Consider
If you can qualify for any of the following, they offer meaningfully better terms than Merrick Bank's cards:
Capital One Platinum Secured Credit Card
[[ SINGLE_CARD * {"id": "431", "isExpanded": "false", "bestForCategoryId": "15", "bestForText": "Credit Rebuilders", "headerHint": "Ideal for Credit Building"} ]]
Discover it® Secured Credit Card
[[ SINGLE_CARD * {"id": "827", "isExpanded": "false", "bestForCategoryId": "15", "bestForText": "Credit Builders", "headerHint": "Rebuild Your Credit History"} ]]
[[ SINGLE_CARD * {"id": "3069", "isExpanded": "true", "bestForCategoryId": "52", "bestForText": "Credit Builders", "headerHint" : "Enhanced Rewards" } ]]
[[ SINGLE_CARD * {"id": "2905", "isExpanded": "false", "bestForCategoryId": "15", "bestForText": "No Fee Seekers", "headerHint": "Unique Application Process"} ]]
Who Should Apply — and Who Shouldn't
Merrick Bank is a good fit if:
- Your credit score is below 630 and you've been declined elsewhere
- You want to apply online for a secured card without a mail offer requirement
- You received a Merrick Bank mail offer and want an unsecured card without a security deposit
- You want the guaranteed Double Your Line credit limit increase after 7 months (unsecured)
- You will pay your balance in full every month and never carry interest
Skip Merrick Bank if:
- You ever carry a balance month-to-month — the unsecured card's ~35% variable APR will cost you significantly
- You want rewards on your spending — both cards offer none
- You qualify for a no-annual-fee alternative like the Capital One Platinum Secured Credit Card
- You want a clear formal upgrade path to an unsecured card (Capital One does this; Merrick Bank does not)
- You're looking for international travel compatibility — the 3% foreign transaction fee applies to both cards
Final recommendation. The Merrick Bank Classic Secured Credit Card is a reasonable choice for online applicants who need a secured card and have been declined elsewhere. Use it for 9–12 months to build positive payment history, then graduate to a no-annual-fee card once your score improves. The unsecured card is only worth pursuing if you've received a mail offer and are certain you'll never carry a balance — the variable APR on that product is one of the highest in the market.
Frequently Asked Questions
Is Merrick Bank a legitimate company?
Yes. Merrick Bank is an FDIC-insured bank founded in 1997, headquartered in South Jordan, Utah. It operates as a subsidiary of CardWorks, Inc. and serves millions of cardholders. Both of its credit card products are issued as Visa cards.
Can I apply for the Merrick Bank Credit Card online without a mail offer?
No. The unsecured Merrick Bank Credit Card requires a pre-qualification offer received by mail. You can check whether you have an eligible offer by entering your last name, the last four digits of your Social Security number, and your ZIP code on Merrick Bank's website. The secured card, however, can be applied for online directly.
What credit score do I need?
Merrick Bank does not publish a minimum credit score. Based on Credit Karma member data, the average credit score of applicants matched to this card is around 614, with 567 being most common. Merrick Bank considers applicants across a range of credit backgrounds, including post-bankruptcy applicants.
*Kudos credit ranges are a variation of FICO® Score 8, one of many types of credit scores lenders may use when considering your credit card application.
How does the Double Your Line feature work?
The Double Your Line automatic increase applies to the unsecured Merrick Bank Double Your Line® Mastercard® Credit Card. If you use your card and make at least the minimum payment on time each month for the first seven months your account is open, your credit limit is automatically doubled. This happens without a new application or additional deposit.
[[ SINGLE_CARD * {"id": "8581", "isExpanded": "false", "bestForCategoryId": "15", "bestForText": "Credit Builders", "headerHint": "Automatic Credit Line Increase"} ]]
Does the secured card require a hard pull?
Yes. Applying for either Merrick Bank card results in a hard credit inquiry, which may temporarily lower your credit score by a few points.
How long does it take to receive the card?
Merrick Bank typically takes 7–10 business days to deliver a card after approval. The bank does not offer instant virtual card numbers upon approval.
Does Merrick Bank offer instant approval?
No. Applications go through a review process before a decision is made. Approval is not typically instant.
Can I upgrade from a secured to unsecured Merrick Bank card?
Merrick Bank does not have a formal public upgrade path from its secured card to its unsecured card. After 9 months of responsible use, the secured card is reviewed for credit limit increases, but there is no guaranteed conversion to unsecured status. For a formal upgrade path, consider the Capital One Platinum Secured Credit Card, which explicitly reviews accounts for unsecured upgrades.
Does Merrick Bank report to all three credit bureaus?
Yes. Both the secured and unsecured cards report monthly to Experian, Equifax, and TransUnion.
Where is Merrick Bank located?
Merrick Bank is headquartered in South Jordan, Utah. It operates as a direct bank with no physical branches.
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Editorial Disclosure: Opinions expressed here are those of Kudos alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.
