Credit Cards (US)
Mercury Credit Card review
If you're looking for a card that will help you open the door to good credit, this Mercury Credit Card review is for you! Read on for more.
Mercury Credit Card: Regain your purchasing power!
The Mercury credit card is a great asset for people who need to improve their credit scores.
It is an unsecured credit card that has the option of no annual fee. That is a very special feature for an unsecured credit card that accepts people with not-so-good scores.
Even though there is no concrete information about the rewards this card offers to its cardholders, the credit card company sends monthly reports about your payments to the three major credit bureaus.
However, this card has a relatively high variable APR and some other fees. So, if you want to know more about this card that can help you build your credit, keep reading.
How to apply for the Mercury Credit Card
If you need a card to help you improve your finances and build your credit score, learn how you can apply for the Mercury Credit Card!
How does the Mercury Credit Card work?
The credit card company needs to send you a pre-approvement letter, and then you can complete your application.
But once you become a cardholder, you can get some rewards that are personalized according to the company’s criteria.
Also, you will get your payment reports sent to all the 3 major credit bureaus, and that will help you improve your score.
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Mercury Credit Card benefits
Pros
- You may be eligible for no annual fee depending on your creditworthiness.
- As a cardholder, you can check your FICO score.
- This card sends monthly reports to the three major credit bureaus.
- In case your card gets stolen, or if you lose it, there is a zero-dollar fraud liability.
Cons
- This card charges a 3% foreign transaction fee for each purchase made in USD.
- The card has relatively high interest fees in general, which can be confusing and not affordable for some people.
- You can only get this card if you get pre-approved by the credit card company.
Should you apply for this card?
This card has some high interest fees, and there is no concrete information available about its rewards. However, it is an unsecured card that accepts not-so-good credit scores and has no annual fee.
Also, it sends your monthly reports to the 3 major credit bureaus. Therefore, if you can pay for the fees and want to improve your credit, you can consider getting this card.
However, you also need to make sure that you can pay your monthly balance in full each month because, as we mentioned, this card charges high interest fees.
Also, you will need a pre-approved letter from the credit card company to get this card.
How good does your credit score need to be?
To get this card, your credit score does not have to be very high. You need an average score. So, you can have a score that ranges from about 580 to 669. However, you need to be pre-approved to get this card.
How to apply for a Mercury Credit Card?
Unfortunately, to apply for this card, you need a pre-approvement letter from the credit card company. And after that, you can complete your application.
So, in the post below, we will give you some important information about this card’s application in general and how to complete your pre-approved application.
How to apply for the Mercury Credit Card
If you need a card to help you improve your finances and build your credit score, learn how you can apply for the Mercury Credit Card!
About the author / Victória Lourenço
Reviewed by / Aline Barbosa
Senior Editor
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