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Merrick Bank Secured Credit Card
Consumer Reviews, Credit Score and Income Needed, Credit Limits

Picture of Merrick Bank Secured Visa®
11 Reviews
Consumer Rating:
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Apply Here apply here 3.8
Average Score:
Card Details
Card Details

Annual Fee: $36 for 1st year, then $3 a month thereafter (still $36 a year in total)
APR: 20.45%*Variable
Deposit Amount: $200-$3,000
Pros and Cons
Pros and Cons


  • Allows you to increase deposits in $50 increments


  • Charges annual fee when many others do not
  • No reward program
  • Does not graduate to unsecured

Our Take
Our Take

The Merrick Bank Secured Visa Card is a decent secured credit card with a reasonable annual fee. Consumers have reported that they do allow you to increase your deposits in $50 increments. However, there are many better cards out there (see our list of secured credit cards. For example, most of the mainstream banks have no annual fee cards. Examples include Capital One secured and Discover it secured card. If you are looking for a card that does not check credit and is almost a guaranteed approval, then Opensky is the card to look at.

So while this is a decent card, you should research other secured credit cards first before pulling the trigger.

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Credit Score: 602 Credit Limit: 500 Age: 25-34
Posted 04/04 2017
Overall Rating: star ratingstar ratingstar ratingstar ratingstar rating
Merrick Bank secured has been good to me. I started off with a $500 deposit. I barely use more than $100 of my credit limit each month and I always pay it off in full every month. I got a $200 credit limit increase after 9 months.

The one thing I like about this card is the free FICO score. I do not know which bureau they take from but from what I understand, it is the actual FICO score they use. The card does not graduate and they also report as secured but I am not fussed over those things. My score has improved from low 600 to 695 now. And I already have two unsecured credit cards. Once I get a couple more, I will just cancel this card.