Merrick Bank Personal Loan review: is it worth it?

Looking for a loan which will accept people with a poor credit history? Merrick Bank’s might be worth looking into.


by Danilo Pereira

Published on 05/09/2022

Merrick Bank Personal Loan review and benefits: fast approval and no hard pulls until you say so

Merrick Bank logo 2
Merrick Bank Personal Loan review. Source: Stealth Capitalist.

In this Merrick Bank Personal Loan review we are going to cover its main features, pros and cons, and help you decide whether this card is for you. Let the reviewing begin.

With this personal loan you do not have to worry about hard inquiries until you make the decision to take the loan. Note however that Merrick will run a soft inquiry on you, and if you decide not to proceed, you will only take a minor hit to your credit score. 

Loans range from $2,500 up to $12,000. Approval generally comes out within a day or two from when you submit your application. Once you have been approved, you should receive the funds in your checking account within a couple of business days.

Have a look at some relevant figures about this personal loan.

Merrick Bank logo 3

How to Apply for the Merrick Bank Personal Loan

A complete step-by-step guide for you to get your loan in a few simple steps.

APR27.99% – 35.99%
LOAN PURPOSENot specified
LOAN AMOUNTS$2,500 – $12,500
TERMS36 months

Merrick Bank Personal Loan: how does it work?

Merrick Bank is a financial institution which specializes in customers with less-than-perfect credit scores (“non-prime customers, as they are called in the financial jargon). The bank features a range of financial products, and you can apply for a personal loan with a 5% origination fee if you meet the following criteria:

  • You must be at least 18 years old
  • You need a Federal osr State ID
  • Must be able to prove you have an income
  • You need a bank account.

Merrick Bank Personal Loan also reports to all the three major credit bureaus. Therefore paying your balance on-time will prove very useful if you are trying to build a consistent credit history to apply for good credit card offers or even better loan offers.

Is it worth it to apply for Merrick Bank Personal Loan?

pros and cons
Time to weigh the pros and cons. Source: Adobe Stock

Let’s have a look at some of the benefits and disadvantages of the Merrick Bank Personal Loan.


  • Will take applicants with fair credit
  • Fast application and approval
  • Only a soft pull required


  • 5% origination fee
  • $2,500 minimum and $12,000 max loan limit
  • 35.99% APR

What credit scores are required for your application?

One of the advantages of the Merrick Bank Personal Loan is that they will approve applicants with fair credit. It does not require a perfect credit score for approval. The minimum accepted score is 580, but as always the closer to excellent you are, the higher the chances of getting approved for the card.

Merrick Bank Personal Loan: applying for this loan today

If you would like to apply for this personal loan, log on to Merrick Banks website with your personal information at hand and you are ready to apply. If you want to jump straight to a step-by-step guide for the application process, just hit the link below.

Merrick Bank logo 3

How to Apply for the Merrick Bank Personal Loan

A complete step-by-step guide for you to get your loan in a few simple steps.

About the author  /  Danilo Pereira

Trending Topics


Destiny credit card full review

In our Destiny card review, you’ll learn more about this product that can help you repair your credit and build a stronger financial future.

Keep Reading

GO2bank™ Secured Visa® Credit Card full review

Need to recover your credit score but don't want a loan? Check out this GO2bank™ Secured Visa® Credit Card review and see if it works for you.

Keep Reading

Capital One Venture Rewards credit card full review

If you love traveling the world, you will love the Capital One Venture Rewards credit card. Read this review to learn about its benefits.

Keep Reading

You may also like


Applying for the Oportun® Visa® Credit Card: learn how!

If you are considering applying for an Oportun® card, here's some valuable information to guide you. We'll walk you through their process.

Keep Reading

LendingClub Personal Loan review: is it worth it?

Read our LendingClub personal loan review and find out if it's right for you. No hidden fees, and fast funding. Read on for more.

Keep Reading

Credit One Bank® Platinum Visa credit card full review

Looking for a credit card to help rebuild your credit score? Check out our Credit One Bank® Platinum Visa card review to learn more about it!

Keep Reading