Credit – Merrick Bank Secure Credit Card Application

Merrick Bank Secure Credit Card Application:

  • The Secured Card from Merrick Bank is a credit card designed for individuals who may be attempting to build or rebuild their credit profile if their credit history is less than perfect
  • Secured Card differ from traditional credit cards (which are typically unsecured) in that the card holder provides a security deposit which is retained by the bank as collateral for the card
  • While there is a secured deposit made by the cardholder, the card is still a credit card and does not function like a traditional debit card in which funds are removed from an checking account
  • If you are approved, your credit limit will be determined by what you decide to use as your security deposit – limits can range from as little as $200 to as much as $3,000 depending on your needs

The secured card offered through Merrick Bank is very different than a debit card.  Do not be confused by the fact that you will be required to provide a security deposit on the card.  Your use of the card is used as credit – the security deposit is there only as collateral to back the card in the event of default.  What this means is that you are actively building your credit history while using this card which is not the case when you are using a traditional debit card.

While secured credit cards typically have less stringent approval regulations, there are still certain criteria you must meet.  For instance, you can not have an active bankruptcy which has not yet been resolved.  Additionally, you must be able to provide a valid Social Security Number and have your identify verified before approval.

Additional Information about the Merrick Bank Secured Card:

  • This card comes with many of the expected benefits of a Merrick Bank Credit Card including online account management and fraud protection
  • The credit card application process includes the benefit of being able to select the card design you like best to express your personality


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