Merrick Bank Fees
Its website does not explicitly specify loan rates and payment term lengths for other services such as its recreational lending and credit cards. However, interested borrowers can contact Merrick Bank’s customer service or visit its branches personally to inquire.
How to Qualify
Eligibility terms for interested borrowers:
- Must have a source of income
- At least 18 years of age
- A verifiable bank account under the client’s name
- State or local government-issued I.D. from the U.S. Federal
- A social security number or tax identification number
The Bottom Line
Individuals with a bad credit score can rest easy with Merrick Bank; it has an excellent complimentary credit health tool to further assist clients in restoring the state of their financial history. Potential borrowers with a relatively low credit score still have a probability of being granted loans. Although it has a responsive customer service, its website does not provide much information.
For more options, the services that Avant and Upgrade offer are ideal conditions for bad credit borrowers. Serving clients in Chicago, Avant has assisted through its credit health tools services and, with similar credit score requirements as Merrick Bank, it offers loans from $2,000 to $10,000 and a starting APR of 9.95%. On the other hand, Upgrade, a direct lending company working with WebBank, allows a maximal DTI ratio of 60% while offering loans up to $50,000. Furthermore, it offers unsecured loans that do not necessitate collateral, making it suitable for those with an unfavorable financial history.
