Merrick Bank Secured Credit Card Application to Rebuild Credit Score
Merrick bank is a Utah based US bank. It was founded in 1997. Here we will check how to apply for Merrick Bank Secured Credit Card to rebuild credit score for any person. This bank is one of the biggest visa card issuer in US. Other than Visa cards, it also give financing services. This service is given to RVs and marine vehicles dealers.
Secured credit card
Secured credit cards are different from unsecured credit cards in a way that in secured credit card the owner needs to have security deposit. This will act as cash collateral. Security credit cards are blessings for people who have very little or no credit history. Secured credit cards act as strong tools to build a person’s credit.
Merrick bank secured credit card application status
The secured credit card by Merrick bank is supported by Visa Credit Card Corporation. Such secured credit cards can be applied on internet too. Applicant also check Merrick bank secured credit card application status online. One can easily rely on this card as it does not have any hidden fees.
All the payments done to the Merrick bank are reported by the bank to all the major credit card bureaus. This means if you do your payments on time then it will help you built your credit history strong. For Merrick credit cards the fraud liability is almost zero. This credit card is liable all over the world too.
Pros of having Merrick credit card:
- You get access to online management tools with which you can maintain your account online.
- As mentioned above, your payment details are sent to all major credit card bureaus and hence you get a chance to improve your credit.
- On approval one gets a starting credit line based on your money deposited.
The application process for the card is very simple. A person becomes eligible for the Merrick bank secured credit cards based on following points:
- Person should not have state, local or federal tax pending
- One must have no pending bankruptcy filing on his name
- One should be minimum 18 years of age
- Person should be successful in security deposits
- One should have U.S address that has been verified
- He should also have verified security number
- An applicant should meet all the requirements made inevitable for credit card applications including Income assessment
Some important points to remember:
- One gets a grace period of 25 days. If you pay your bills in this period you need not pay any interest on purchase.
- For APR one gets 17.70 percent rate.
- Balance transfer is not applicable in this case.
- APR for cash advances has rate of 22 percent. It has no grace period and has 4 percent transaction fee.
- The annual fee of $36 is subtracted from ones credit limit.
- The additional card fee for one year is $12.
- Foreign transaction fee is 2percent.
- Person can deposit any amount ranging from $200 to $3000.
- One has to pay late payment or returned fee up to $38.
Now if you are convinced enough to have a credit card that is secured from Merrick bank, you can simply apply for it through internet. While applying for the secured credit card you should have internet, a valid secure number and you should be resident of US. If you fulfill all the criteria apply for secured credit card in following manner:
- First of all open the official site www.merrickbank.com and go to the link of Apply for Secured card.
- Now go to Get started. But do remember to read all the instructions before doing it, carefully.
- Now enter the information asked. This will include your personal data, contact and financial information.
- Re-check the information you have given and go to submit and Review button.
- Follow the instruction given and complete other formalities too.
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