Merrick Bank Review

Merrick Bank logo

Merrick Bank


Millennial Money rating

Expert Take

If you’ve had a rocky credit history and are having difficulty getting approved for a credit card or getting a loan from a traditional bank, Merrick Bank is an option for you. They seem to specialize in helping the credit-disadvantaged get their credit journeys back on track.


  • Financing Options with Poor Credit
  • Solid Customer Support
  • Backed by Ally Bank


  • Mobile App
  • High Fees

Financial Strength


Customer Support


Mobile App




Merrick Bank logo

Merrick Bank is an FDIC insured financial services company that primarily offers credit cards to individuals with poor credit or who might have trouble getting a traditional credit card elsewhere.

The company also offers personal loans and financing options for recreational vehicles (RVs), boats, watercraft, and horse trailers.

In this post, I’m going to talk about the different types of credit cards and financing options that you can get with Merrick Bank.

I’ll also cover the fees that they charge and the pros and cons of doing business with them, among other things.

What is Merrick Bank?

Merrick Bank was founded in 1997 and is headquartered in Draper, Utah. They are a leading issuer of Visa credit cards in the U.S., with over 3 million customers.

Aside from credit cards, they also offer personal loans, CDs, and financing for boats, RVs, and horse trailers for those with less-than-perfect credit. They also offer merchant acquiring services.

Now that we have a better idea about the basics, let’s take a closer look at the services they offer.

Merrick Bank Visa Credit Cards

Merrick Bank’s bread and butter seems to be their credit card division.

Merrick’s standard credit card features include:

  • No liability for fraudulent use. If someone else uses your card to make an unauthorized purchase, you won’t be on the hook for any payments.
  • FICO Score. As a customer, you can get free access to your monthly FICO score through their goScore service.
  • 24/7 account access. You can check your credit card account whenever you want and from any device (e.g., phone, tablet, or laptop).
  • goMobile app. They offer a convenient mobile app for account access. You can also set account alerts in the app so you can be notified about updates that are important to you.
  • Multiple payment options. Pay off your card balance over the phone, online, or even by check.
  • Automatic credit line review. They keep an eye on your credit line and update you if you are eligible for a credit limit increase.
  • Paperless statements. Prevent your credit card bills from piling up by enrolling in e-billing.
  • goLearn. Merrick seems dedicated to educating their customers about how to manage money and use credit cards responsibly. The company offers a series of financial education articles in the goLearn section of their website. Check ‘em out.

Merrick Bank offers two different credit card products:

  1. Merrick Bank Double Your Line™ Visa® Credit Card
    Merrick’s Platinum Visa is their premium card offering, which is only available to customers who receive an offer for the card.
  2. Merrick Bank Secured Credit Card
    Merrick’s Secured Visa card caters to those with bad credit and those who are trying to build up their credit scores.

Merrick Recreation Lending

If you’re keen on purchasing a new wave runner, fishing boat, or motorhome but don’t have a good credit score, Merrick’s recreational lending division might offer the financing you need.

In fact, Merrick Bank offers recreational loans to people that most banks would turn away. For example, if your credit score is as low as 550 or if you’ve experienced a discharged bankruptcy, you might still be able to get a loan.

What’s more, if you are dealing with a collections issue, or have a financial judgment against you, you might still be able to get financing.

Merrick Bank Certificates of Deposit (CDs)

If you’re looking to invest your money in an FDIC-insured account—where it can grow faster than it would in your checking account—you might want to check out their CDs.

If you choose the 24-month term, you can earn 0.85% APY on your funds. The catch?

You need to invest at least $25,000 to open a CD, and you can’t withdraw those funds until the two-year period passes.

Merrick Bank Personal Loans

Merrick Bank’s personal loans offer up to $12,500 in funding for people with as low as a 580 credit score.

If you have poor credit but need money to pay for an unforeseen expense or to pay off high-interest credit card debt, this might be a good option for you.

It looks like they aren’t accepting new personal loan applications at this time, but you can sign up for their waiting list.

Getting Started

To sign up for a credit card, goto their website and click Apply Now in the middle of the screen.

The next page displays more details about the card so you can make sure it’s the right fit. Click Apply Now again to start the application.

On the next page, enter your first name, last name, address, email address, phone number, date of birth, Social Security number, and your mother’s maiden name.

Next, enter your gross annual income and monthly rent or mortgage payment.

Then, you have to agree to their terms and conditions, which I recommend reading carefully!

After that’s done, it’s time to fund your account. Enter your bank account’s routing number, account number, the account type, and how much you want to transfer.

You also have the option of funding your account through a third-party service (e.g., Western Union, MoneyGram, or the United States Postal Service).

Once your account is funded, your application is ready. Merrick Bank will then review all of the information you entered, and if you qualify, they will send a card out in the mail.


On their online security page, Merrick Bank offers some basic advice about how to keep your accounts and personal information safe online.

I’m not seeing any specific security features listed on their website.

Considering that they just got bought by Ally Bank, I imagine Merrick’s web platform will soon undergo a massive transformation—including large investments in cybersecurity.

Customer Service

Merrick Bank has a stellar 4.5 star rating (out of 5) ratings on TrustPilot, with over 7,600 reviews. Nice!

Merrick Bank’s customer support team is available 24/7.

  • For credit card inquiries, call 1-800-204-5936.
  • For recreational lending, call 1-888-545-5777
  • For CDs, call 1-866-638-6851
  • For personal loans, call 1-833-842-7900

Pros and Cons


  • Recreational financing options and credit card products available for people with poor credit
  • Solid customer service ratings and support available 24/7
  • The company recently acquired by Ally, which has a great reputation, so we can expect some big changes in the coming years


  • Their apps don’t have the best ratings in the world
  • You might get hit with fees that traditional credit cards don’t charge
  • The company seems to target lower-income people who might not be able to afford hefty fees


Is Merrick Bank Legit?

Yes. Merrick Bank is a legit credit card company that also offers personal loans and financing for boats and RVs.

Where is Merrick Bank Located?

Merrick Bank’s corporate headquarters is located in Draper, Utah. They don’t have any brick-and-mortar locations because they are not a traditional bank.

What Credit Card is Merrick Bank?

Merrick Bank offers two credit cards at the time of this writing: the Merrick Bank Platinum Visa Card and the Merrick Bank Secured Visa Card.

How Long Does it Take to Get a Merrick Bank Credit Card in the Mail?

Once you are approved, it should take between two and three weeks to get your card in the mail.

Is Merrick Bank a Reputable Bank?

While not a traditional bank, they are a reputable credit card lender and loan provider.

Is Merrick Bank Owned by Credit One?

Merrick Bank is owned by CardWorks, which was recently acquired by Ally Bank.

Does Merrick Bank Report to Credit Bureaus?

Yes. All credit card companies report to the three major credit bureaus: TransUnion, Equifax, and Experian.

Does Merrick Bank Have an Annual Fee?

Yes. The Secured Visa Card has a $36 annual fee. I’m not seeing an annual fee for the Platinum Visa Card, but I’d double-check if I were you.

So, Is Merrick Bank Right for Me?

If you’ve had a rocky credit history and are having difficulty getting approved for a credit card or getting a loan from a traditional bank, Merrick Bank might be worth looking into.

The company seems to specialize in helping the credit-disadvantaged get their credit journeys back on track.

One thing to watch out for though—whichever credit card you use—is avoiding unnecessary fees.

You also have to make sure to pay off your balances in full each month, so you don’t get charged large interest fees.

Here’s to finding favorable financing when you need it, getting the credit card that is right for you, and to using that card responsibly!

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