Merrick Bank Credit Card Application Offer Verification

Terms and Conditions

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 20 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	22.70% Your APR will vary with the market based on the Prime Rate.*
APR for Cash Advances	27.70% 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 http://www.consumerfinance.gov/learnmore.

Fees

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	$0

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	$0
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 0.06219%; Daily Periodic Rate for Cash Advances 0.07589%.

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).

The information about the costs of the card described in this solicitation is accurate as of 04/01/2024. 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.

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.

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.

NOTICE OF COLLECTION OF PERSONAL INFORMATION
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 www.merrickbank.com/privacy-notices.

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 www.dfs.ny.gov 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.