What are some credit cards like Merrick Bank?

Q. Who offers credit cards similar to Merrick Bank?

Adam answers:

Merrick Bank is generally known for offering credit cards to consumers with bad credit histories, though it does offer some cards to those with average credit. You may be invited to apply for an unsecured Merrick Bank credit card, or you can apply online for a Merrick Bank secured Visa card (which, unlike the unsecured card, requires a security deposit).

So, to answer your question, credit cards like Merrick Bank are generally secured credit cards, partially secured credit cards, or unsecured cards geared toward those with poor or below average credit histories, including:

  • Capital One Secured MasterCard – This is a partially secured credit card, meaning that you must make a security deposit to get it, but your credit line may be higher than the amount you’ve deposited.
  • Capital One Platinum Mastercard – No-frills unsecured credit card with a fairly high interest rate, but it has no annual fee and does not require a security deposit.
  • BankAmericard Secured Credit Card – This credit card requires a security deposit, and your actual credit line may be equal to or greater than the amount you deposit. After 12 months your security deposit might be returned if your payment history and overall credit score are good enough.
  • Credit One Credit Cards – Offers a range of unsecured credit cards for those who are trying to rebuild or build credit. Watch out for high interest rates and fees, though.
  • U.S. Bank Secured Visa – This is a standard secured credit card with a small twist. You must pay a security deposit, but that deposit is put into an interest-bearing savings account, so you will at least make a little money from your deposit, unlike other secured cards.
  • First Premier Bank MasterCard – This secured credit card is generally a last resort card for those with very bad credit. It requires a security deposit and has particularly high fees.