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Terms and Conditions
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Merrick Bank will establish your initial credit limit and mail you the card you request (“Card”) upon approval of your Online Application, in accordance with the terms set forth below. You agree that if you sign the Card, use your Account or the Card to make a purchase or to obtain a cash advance, or make a payment on the account, that will constitute acceptance of the Cardholder Agreement, which is governed by both Utah law and applicable Federal law, that will be provided to you upon application approval.
Security Deposit
If your application is approved, the initial credit line assigned to the Account will be equal to the amount of your security deposit, which can be between $200 and $3,000. The application submitted will not be complete until funds for the security deposit have been collected by Merrick Bank. Funds must be received within 30 days to complete the application process, incomplete applications will be declined. Approved applicants will not be allowed to make transactions using the security deposit account. The security deposit does not earn interest and will be available for withdrawal only after your credit card account has been closed and all amounts owing have been paid in full.
Credit Line
Credit Line
$200-$3,000. Your initial credit line will be equal to the amount of your security deposit.
Line Increase
Your credit line can be increased at any time by adding additional money to your security deposit. Your credit line may also be increased by Merrick Bank periodically based on account performance.
Interest Rates and Interest Charges
Annual Percentage Rate (APR) for Purchases
17.45%  Your APR will vary with the market based on the Prime Rate.*
APR for Cash Advances
22.45%  Your APR will vary with the market based on the Prime Rate.*
Paying Interest
Your Payment Due Date is at least 25 days after the close of each Billing Cycle. We will not charge you interest on Purchases if you pay your entire New Balance by the Payment Due Date each month. We will begin charging interest on Cash Advances on the transaction date.
Minimum Interest Charge
If you are charged interest, the charge will be no less than $1.00.
For Credit Card Tips from the Consumer Financial Protection Bureau
To learn more about factors to consider when applying for or using a credit card, visit the website of the Consumer Financial Protection Bureau at
Set-up and Maintenance Fees
NOTICE: Some of these set-up and maintenance fees will be assessed before you begin using your card and will reduce the amount of credit you initially have available. For example, if your minimum credit limit is $200, your initial available credit limit will be only about $164.
Annual Fee
$36 the first year. Billed $3 per month thereafter.
Account Set-up Fee
Transaction Fees
Cash Advance
Either $10 or 4% of the amount of each cash advance, whichever is greater.
Foreign Transaction
2% of each transaction in U.S. Dollars.
Penalty Fees
Late Payment
Up to $40
Over Limit
Returned Payment
Up to $40
How We Will Calculate Your Balance: We use a method called "average daily balances (including new purchases)." See your Cardholder Agreement for more details.
Annual Percentage Rates: Daily Periodic Rate for Purchases 0.04780%; Daily Periodic Rate for Cash Advances 0.06150%.
Variable Rate Information: Purchase Margin 14.20 percentage points; Cash Advance Margin 19.20 percentage points. Your APR for Purchases and Cash Advances may vary. The rate is determined by adding the appropriate margin shown to the Prime Rate*. If the Prime Rate* increases, your APR will increase accordingly, with no cap. An increase in your APR will result in an increase of your minimum payment amount.
*"Prime Rate" means the prime rate of interest published on the last business day of each month in The Wall Street Journal (or a comparable rate if The Wall Street Journal ceases publication).
Minimum Payment: All past-due amounts, any Annual Fee billed monthly, any Additional Card Fee billed monthly plus the greater of the following amounts: (i) 1% of your New Balance plus Late Fees, Cash Advance Transaction Fees, Over Limit Fees, Returned Payment Fees, and Interest Charges billed during the Billing Cycle for which the Minimum Payment is calculated, as shown on that periodic statement, rounded to the next-higher dollar; or (ii) $35. If the New Balance is less than $35, the Minimum Payment will be the total amount owed.
The information about the costs of the card described in this solicitation is accurate as of 09/01/2021. This information may have changed after that date. To find out what may have changed, and to get the most current rates, please write to us at Merrick Bank, P.O. Box 5000, Draper, Utah 84020-5000. Subject to applicable law, the Cardholder Agreement also permits Merrick Bank to make changes to the Terms and Conditions of the Account after the Account is opened.
If you are a married applicant, you may apply for credit in your own name.

California Residents: A married applicant may apply for a separate account. As required by law, you are hereby notified that a negative credit report reflecting on your credit record may be submitted to a credit reporting agency if you fail to fulfill the terms of your credit obligations.

Merrick Bank will collect the following categories of personal information: (1) Personally Identifiable Information you provide as part of an application; (2) Internet or other electronic network activity; (3) Telephone numbers and email addresses. We will use the information in the categories above to administer and service your account.

Merrick Bank’s Privacy Policy can be obtained at To opt out of our sharing your Personally Identifiable Information, visit We will be unable to open an account for you if you opt out.

Delaware Residents: Service charges not in excess of those permitted by law will be charged on the outstanding balances from month to month.

Illinois Residents: No applicant may be denied a credit card on account of race, religion, national origin, ancestry, age (between 40 and 70), sex, marital status, physical or mental handicap unrelated to the ability to pay or unfavorable discharge from military service. The applicant may request the reason for rejection of his or her application for a credit card. No person need reapply for a credit card solely because of a change in marital status unless the change has caused a deterioration in the person's financial position. A person may hold a credit card in any name permitted by law that he or she regularly uses or is known by, so long as no fraud is intended thereby.

Maryland Residents: Interest charges will be imposed on the outstanding balances from month to month in amounts or at rates not in excess of those permitted by law. You have the right under Maryland Commercial Law Code Section 12-510 to receive an answer to a written inquiry concerning the status of your account.

If you have any questions, you may contact Merrick Bank Customer Service at 1-877-727-6885.

New York Residents: Merrick Bank may obtain consumer reports on you in connection with an update, renewal or extension for which you have applied. Upon request, we will inform you whether or not we requested a consumer report on you and the name and address of the consumer agency that furnished the report. New York residents may contact the New York state department of financial services by telephone at 1-800-342-3736 or visit its website at for free information on comparative credit card rates, fees and grace periods.

Ohio Residents: The Ohio law against discrimination requires that all creditors make credit equally available to all creditworthy customers, and that credit-reporting agencies maintain separate credit histories on each individual upon request. The Ohio Civil Rights Commission administers compliance with this law.

Wisconsin Residents: This offer is not valid for residents of Wisconsin.

Need credit? Want a better way to take control of your finances?
The Merrick Bank Secured Visa card is for you!

  • Upon approval, you’ll have an initial credit line based on your $200 -$3,000 deposit - It’s up to you!
  • Your account information is reported to the three major credit bureaus. You can reestablish and build your credit with your performance.
  • Online management tools! You can manage your account online for free!
  • Your security deposit funds are FDIC Insured!
  • $0 fraud liability for unauthorized charges.
Is a secured credit card right for me?
The biggest difference between a secured and an unsecured credit card is that secured cards require a security deposit from the cardholder, which functions as cash collateral.

Secured credit cards are especially useful for consumers with poor or little to no credit history who are trying to build or rebuild their credit. A secured card provides all the advantages of a credit card while building credit.

You may be approved for this card with any credit history or credit score, so long as you:

  • do not have a pending bankruptcy filing that has not been discharged by the court
  • do not have any outstanding Federal/State/Local tax obligations
  • successfully fund your security deposit
  • are at least 18 years old
  • have a valid Social Security Number
  • have a verifiable physical U.S. home address
  • meet the Income Assessment and Identity Verification requirements mandated by the government for all credit card applications