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Here’s our complete guide to the 2022 Mercury Credit Card Review, where we explore a lot about this credit card.

The Mercury Credit Card, also known as the Mercury MasterCard, is a non-guaranteed, no-annual-fee credit card designed for people who have had credit problems in the past but plan to pay off their balance in full each month.

The Mercury Credit Card is part of First Bank & Trust of South Dakota; the card has over one million members. Before we move on to our full Mercury credit card review, here are some important things you need to know about the Mercury credit card.

The card has a high interest rate, but if the cardholder pays the balance in full, he is free from the fear of high interest rates and is building his credit.

As mentioned earlier, the Mercury Credit Card has no annual fee because it is an unsecured card. Mercury credit cards are only available to those who have received a pre-approval letter from the card issuer.

Cardholders can also access the Mercury mobile app for a better experience. Launched in 2018, the Mercury credit card is a relatively new entrant into the credit card market.

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The Mercury credit card is also a mid-range card for people with a credit score between 550 and 650. However, the Mercury credit card is an invite-only credit card. Therefore, only those who received the invitation email can apply for a credit card, making it difficult for many outsiders to enter.

Mercury Credit Card Review 2022

Some of the most important aspects of the Mercury credit card are listed below, and it is important to understand them before proceeding with a credit card application.

  • Mercury credit cards have regular APRs of 25.65% to 28.65%.
  • While there is no annual fee for credit cards, there are various other fees, such as this one that varies based on the best available rate.
  • In addition, the annual interest rate on cash advances ranges from 27.90% to 29.90%, which is also based on the prime rate. Another thing about the cash advance fee is that the 5% to 10% cash advance fee is based on the amount of the cash advance.
  • Credit checks are carried out by all three major credit bureaus.
  • One of the downsides of the Mercury credit card is that it’s not responsible for fraud.
  • Mercury credit cards have a minimum credit limit of 1500.
  • There is a 3% fee on international purchases for various foreign transactions that will be made with the Mercury credit card.
  • The fee for transferring balances is 4% – 5% of the transferred amount.

Some of the advantages of applying and getting a Mercury credit card are as follows: It uses a mobile app for Android and IOS and is known for being technically sound and has an extremely user-friendly interface.

Cardholders can now easily manage their finances, view their credit history, rewards, FICO scores, and pay their bills before deadlines—with just a few clicks.

It should be noted that applicants are generally encouraged to apply for a Mercury credit card. However, there are no known sign-up bonuses, incentives or perks granted to cardholders.

In addition to the mobile application, if the cardholder has any problems with the credit card or the company, he can contact the customer service through the official website or the contact information provided on the website.

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While this article has mentioned that the Mercury credit card is for people who have had credit problems in the past, that doesn’t mean the bank will let people with bad or bad credit go ahead and apply for a credit card.

The card is aimed at people with a reasonable credit rating, and it has been observed that people with a reasonable credit rating receive an invitation email with a login code that allows the user to proceed with the application.

Another important thing is that since the Mercury credit card has no annual fee, cardholders don’t have to worry about canceling the card, which is important if you want to build a good credit history. Finally, to lower your credit card usage, you’ll get extra credit card limits, which is helpful.

Now that we’ve discussed various details about the Merkur credit card, let’s move on to discussing the advantages and disadvantages of the Merkur credit card. Once we list them, we can decide if the card is right for you.

Pros and Cons of Using Mercury MasterCard

Here, we’ll examine the advantages and disadvantages of the Mercury card.

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Benefits of Using a Mercury MasterCard Credit Card

  • One of the key features that makes the Mercury credit card superior to other credit cards is the absence of an annual fee, which can be an important feature for many people.
  • Mercury credit cards are known for providing cardholders with many additional benefits, one of which is that you can earn your FICO score for free. The card also offers users very standard fraud protection, nothing out of the ordinary. Also, as mentioned, the map uses a mobile app, which is also pretty standard and nothing special. In a nutshell, the card offers users some of the basic benefits that you can usually get from a credit card.
  • The card is accepted by merchants nationwide, which is another advantage.
  • While the Mercury credit card offers no known rewards, some people claim to have received cash, travel, or rewards; it must be noted that the official Mercury source doesn’t mention anything about rewards, so we can’t be sure of that claim.

Disadvantages of using a Mercury MasterCard credit card

The information provided by official Mercury sources is either insufficient or rather vague, which may appear obscure or questionable to many. For example, as already mentioned in the professional section of the article, there is no clear information about the rewards offered. Meanwhile, some people claim that they received some kind of reward for signing up for the card. This type of inadequacy and inconsistency in the information provided can affect the creditworthiness of the issuing bank.

The invite-only feature also turns a lot of people off because even if they’re interested and have the necessary credit, they won’t be able to get a card unless they receive a Mercury invite email with a login code that’s beyond their control.

Compared to other credit cards that offer similar services and benefits, the interest rates charged on the Mercury credit card are quite high. Ideally, however, high interest rates shouldn’t affect people who plan to pay everything on time. The whole point behind high interest rates is to make sure cardholders pay their fees on time and don’t increase or increase their borrowing debt beyond their means.

Last words

Honestly, there’s not much to say about the Mercury credit card, as the company operates in a semi-secret way and considering the invite-only feature isn’t open to everyone. This completes the Mercury credit card verification process.

Mercury credit cards retain a lot of information, which makes many people dissatisfied or even attracted to their products.

This card is for those who are struggling with their credit score but still looking to improve and have a fair credit history on top of everything else.

As mentioned earlier in this article, pre-approval is important for Mercury credit cards. Still, to our surprise, many people complained that they were denied a Mercury credit card even after getting pre-approved, which is a big disadvantage for customers.

Because the Mercury credit card claims are unclear and cannot be verified for authenticity, applicants are strongly advised to apply for a credit card at their own risk, or to look for a better, safer and more trustworthy option than their existing credit cards. Many are available on the market.

We hope we can address and resolve all of your concerns and questions about the Mercury Credit Card and the services and benefits it offers.

This is a great option for people who have a questionable credit history and don’t want to pay an annual fee for the services they provide.

As previously stated, there are not many reliable sources that can substantiate the claims and benefits of the Mercury Credit Card; continue to apply at your own risk.

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