About Merrick Bank
Merrick Bank specializes in programs for those looking to build or rebuild their credit. The FDIC-insured company has served nearly 3 million cardholders and extended over $5.3 billion in credit. It also provides consumer finance options to marine, RV and horse trailer dealers. With its merchant acquiring services and independent sales organizations, it supports a wide range of merchant categories and offers multinational and dynamic currency services, next-day funding and daily reconciliation.
Overall Satisfaction Rating
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Pros
- Cards and loans for low credit scores
- Financial education resources
- goScore program
Cons
- Minimum $25,000 for CDs
- No balance transfers
Bottom Line
Merrick Bank specializes in credit repair products and services for people looking to rebuild or fix their credit. Some of its credit cards come with high fees, but its Double Your Line credit card has double credit limit increases.
Top Merrick Bank Reviews
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I have enjoyed being a part of the Merrick Bank consumer group. My concerns are always taken seriously. I have used the card for travel and have had no difficulties. They continue...
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Carl of Brooklyn, NY
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I have been with Merrick Bank for a few years now. I also have 11 other credit cards and my Merrick Bank card is one of my favorite. A little higher interest rate than the rest bu...
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What is Merrick Bank?
People looking to raise their credit scores have an opportunity to by using Merrick Bank’s unsecured and secured credit cards. These cards offer regular credit increases and access to Merrick Bank’s free online cardholder center and goMobile app. With goSpecial, cardholders also have access to discounts and savings at participating organizations, including Blue Nile, GNC and Lenovo.
Merrick Bank also offers recreation loans and personal loans for people with discharged bankruptcies, charge-offs, collections and judgments. Its recreation loans can be used to purchase items like a boat, RV or horse trailer, while Merrick’s personal loans can be used for purposes like debt consolidation, car repairs, funeral expenses or medical and dental bills. Customers can borrow up to $12,500 in personal loans and are eligible to receive funds as quickly as the next business day.
Those looking for investments might be interested in Merrick’s certificates of deposit. These offer an annual percentage yield up to 1.05% for CDs with six-month, 12-month, 18-month or 24-month terms. You can access all accounts 24/7, including Merrick Bank’s joint accounts.
Merrick Bank also offers free financial education on its website. Through goLearn, Merrick Bank addresses how to maintain good credit, create a budget and manage money to help individuals and families build smart financial habits.
Merrick Bank Reviews
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How do I know I can trust these reviews about Merrick Bank?
How do I know I can trust these reviews about Merrick Bank?
- 4,114,109 reviews on ConsumerAffairs are verified.
- We require contact information to ensure our reviewers are real.
- We use intelligent software that helps us maintain the integrity of reviews.
- Our moderators read all reviews to verify quality and helpfulness.
For more information about reviews on ConsumerAffairs.com please visit our FAQ.
This review is featured by Merrick Bank
Jason of Mineola, TX Verified Reviewer Verified Buyer
Original review: Nov. 27, 2019
This has been a excellent credit card to have. I have received 2 limit increases in less than 1 year. My limit is currently almost 3 times the amount of my initial limit. It's nice to see a company reward their customers for good spending habits.
This review is featured by Merrick Bank
Chris of Lockport, NY Verified Reviewer Verified Buyer
Original review: Nov. 27, 2019
I have never dealt with such a good company before. I had my first ever purchase dispute and they were so good to me the whole time until the issue was resolved. The app is very user friendly and they definitely award good payment history. I'd recommend Merrick Bank to anyone.
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Jonathan of New Providence, NJ Verified Reviewer Verified Buyer
Original review: Nov. 21, 2022
I am a new customer, but so far it’s been a great experience with no complaints! Keep up the good work! I received a solicitation today asking for feedback, so I am obliging. I wish I had more to say, but I really haven’t had much experience yet with Merrick, so here it goes. The application process was easy, the app is user-friendly, and the card helps build my good credit. By increasing my credit and paying back a small balance every month, I’ve increased my score already!
Michelle of Frankston, TX Verified Reviewer Verified Buyer
Original review: Nov. 18, 2022
Overall I enjoy the card and use it over most of my other cards, my husband had one and I he was very happy with it. They always followed through with increases as mentioned when signing up or applying for card. He uses his quite often also. I applied and was approved and got my first increase like they said I would, I never miss a a payment and pay early but for whatever reason my increases stopped for no reason. I have waited thinking I was off on when I would get one but still nothing. Either way it's still a great card. I use it often. It offers cash back and is accepted anywhere I shop online or in store and it's secure. Have never once had hacking issue or fraud charges.
Meredith of Pinson, AL Verified Reviewer Verified Buyer
Original review: Sept. 30, 2022
What started out as a not so good experience turned out to be excellent. After about 4 tries to get a rep I finally got Omar. He is the epitome of what a customer service rep should be. He was courteous, knowledgeable, and helpful. Whomever the HR person that hired him take a bow and be on the hunt for more. Omar represents Merrick Bank well. He restored my confidence in your services. If I ever need customer service again, Omar is the only way that I would like to talk to, even though I know that will probably be an impossible task. Take a bow Omar, you are an original.
Terri of Philadelphia, PA Verified Reviewer Verified Buyer
Original review: May 6, 2022
I found my experience with Merrick Bank satisfying, because it has given me an opportunity to reestablish my creditworthiness among other things. Merrick Bank offered me a generous line of credit to start, a chance to maintain the ability to use the Merrick VISA credit card in a responsible manner, and all the while help me increase my overall credit scores. I was then able to rebuild my credit, showing that I was deserving of the chance, and I went on to establish a good relationship with a creditor. Thank-You Merrick Bank! Ms. Terri
Holly of Cades, SC Verified Reviewer Verified Buyer
Original review: Jan. 19, 2022
The reason I love Merrick Bank is because compared to other credit card companies, in my opinion, this bank is quietly doing the right thing. I have never had a problem that they did not handle quickly. My issues which have been few over the past 10 years was not problems with the bank and the way it operates. I honestly believe that when I never have problems with my bank it is because they are doing things the right way ALL the time, not some of the time.
Virginia of San Jacinto, CA Verified Reviewer Verified Buyer
Original review: Nov. 18, 2022
I really enjoy the Merrick Master Card, the only thing I wished they would have left it as a Visa. Some places I go don’t take Master Card but it’s a great card to have. They treat you very well if you need assistance with something.
Jennifer of Battle Ground, WA Verified Reviewer Verified Buyer
Original review: Nov. 18, 2022
I'm terrible with names, but the sweet lady that helped me was awesome! She had the sweetest voice, was so patient and zero attitude. She even went above and beyond to make sure that my card would arrive before the Holidays. She genuinely seemed to care, that's a quality that is hard to come by these days.
Willie of Chicago, IL Verified Reviewer Verified Buyer
Original review: Nov. 18, 2022
So Far my experience with Merrick has been great from online to questions asked on the phone. I am very satisfied thus far. I have not had any issues with logging in or the website. Thank you. Thank you. Thank you.
T of Philadelphia, PA Verified Reviewer
Original review: Nov. 6, 2022
On three occasions I decided to pay off credit card balance after I made the on time payments within the same month and all three times Merrick bank held the monies for 7-15 days even though they came from the same bank I make all payments with! They gave the excuse saying they occasionally do this because sometimes banks take back the money even after it has been cleared and removed from the account! They say it’s randomly done but it only happens when I make a second payment after I made the monthly payment on or ahead of due date!
I also got from one so called customer service rep “it shows a pattern” and when I asked what pattern ie “that I pay on time and zero the balance each month” the rep just kept using and stating the word “pattern” but could not elaborate or even give the reason why paying on time is considered a bad thing? I just did it for a fourth time and was told by three different reps three different dates when my available credit would reflect my payments! Today 06NOV22 is the second date told to me by an “advanced rep” and tomorrow was the first date given 07NOV22 but I highly doubt it as I will be calling Merrick in the morning and closing the account after confirming they have released the total payments to clear balance to zero!
It’s as if they are punishing me for keeping up on my payments and paying more then once a month! They want you to be late to charge you outrageous fees and fines and when you show them you are very capable of never going into the red and receive fees they hold your money as captive at their discretion as punishment! I contacted my bank and they say it’s next to impossible for them to “take back monies they have cleared if the monies were available in their system”. Would look for other credit cards if I were you as they also have failed in multiple months to report my perfect payment history to the credit bureau and made my score not increase due to perfect payments!!!
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Karen of Camden, SC Verified Reviewer
Original review: Oct. 28, 2022
I recently opened a credit card account with Merrick Bank. I was never informed that I would be sent a pin to use the first time. After that I would be allowed to set my own pin number. I called to get my pin set and the rep was very rude. She did not understand that I had not been told this. She also could not understand that a pin was not mailed to me. I ask her to set my pin after she verified it was me by asking numerous questions. I answered them all. She stated all she could do was send out my pin again. I should receive it in 7 - 10 days. She never offered any other options or tried to get a supervisor to help her to see if the issue could be resolved while I was on the phone. At this point I have already had my card for 4 weeks. I am not at all pleased with the customer service I received.
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