Everyone has heard the name of the Mercury Credit Card as it has gained so much popularity over time. Since its launch in 2018, the Mercury Credit Card has already been purchased by more than half a million people. It is also known as Mercury MasterCard and is designed especially for people who have had credit issues in the past. In this article, we will talk all about Mercury Credit Card and review it for you so if you want to join the club and become one of the cardholders, you know what you are about to get into.
What is the Mercury Credit Card?
A Mercury Credit or MasterCard is like any other credit card other than the fact that it requires no annual fees which makes it an unsecured credit card. The target audience of Mercury Credit Card is the people who have had to deal with credit issues in the past. It is good for people who plan to pay their credit score in full every month. The card is issued by Mercury Financial and First Bank & Trust of South Dakota and requires no annual fees. Since the card charges no annual fees, it is perfect for people who want to boost their credit score without having to worry about incurring additional costs.
The Mercury Credit Card has a higher interest rate than many other sub-prime credit cards. The card rates are variable but they do not vary too much since the card targets the people who are rebuilding their credit. The card’s APR for balance transfers and purchases is above 25% at the lowest interest rate and it increases up to 28% which is comparatively higher than the average APR of 24% for those holding a fair credit score.
How to Get Mercury Credit Card?
The Mercury Credit Card is invite-only which means that you have to receive an invitation to use the card. It comes with an application that lets you control the card and manage your account from anywhere. According to research, you will be able to get the card even if your credit score is 550. The maximum credit limit of the card is $1500 and you get a grace period of 23 days each month where you are not charged if you pay your entire billing.
How to Pay the Mercury Credit Card’s Bill?
Mercury Cards has several payment options for its cardholders:
- Automated Phone Service: You can make a Mercury payment from your savings or checking account by calling Customer Service, the number for which is mentioned on the back side of your card.
- Mobile App: You can also pay through the Mercury card’s mobile app from a bank account or a debit card.
- Autopay: You can use the Mercury payment system to automatically pay your statement balance, fixed amounts, and monthly minimum, on your credit card payment due date. You will be able to cancel the credit card payment until 3 days before the designated due date. The benefit of enrolling in the AutoPay program is that you will be able to avoid any late fees.
- Online: Pay online using a bank account or a debit card. You just have to open the Account Summary Page and then click on the Make a Payment to make an online payment.
- Mail: You can send in your Mercury Card payment to Card Services, PO Box no. 70168, Philadelphia, PA 19176-0168. The mailing time will require a week or 10 days. Make sure to write the full name that you use on the account and mention the last four digits of your card’s number to avoid any errors.
Mercury MasterCard benefits from being accepted by the global Mastercard payment network. Due to being a MasterCard, Mercury cardholders get $0 fraud liability coverage if their card is stolen or they lose it. The Mastercard ID Theft Protection and Emergency Wallet Replacement also mean that your card will be easily located and you do not have to worry about any fraudulent activities on it. The MasterCard is said to have over 40 million merchants globally and it is available in all 50 US States and the District of Columbia. The foreign transaction fee of the card is 3% in dollars which is comparatively okay to others, although there are much lesser options available.
Mercury Credit Card Reviews:
The overall card rating on Credit Karma is 4.7 stars reviewed by a total of 596 members. Although it has a mix of positive and negative reviews, most of the reviews are positive and show Mercury Credit Card in good light. A lot of the negative reviews are from people saying that they were denied the cardholder ship even if their credit score was above what the card allows. Some people have praised the application procedure you being quick and easy too. Some people have acclaimed that they got their credit approved instantly and were saved from being bankrupt. At the same time, people have mentioned that the Customer Service is not very great and can be made much better.
Of course, there are a lot of better options available in the US and Mercury Credit Card is not the best in the market although it is fairly good. Other recommendable and alternative cards options for Mercury MasterCard include:
- Surge MasterCard
- Reflex MasterCard
- Citi Diamond MasterCard
- Indigo MasterCard
- Total Visa MasterCard
If you are thinking of applying for Mercury Credit or MasterCard, we recommend you read up all the reviews before making a decision. You can also read up on all the policies, perks, and benefits you will receive. You can also get guides regarding filling out the application process. Mercury Credit Card might save your drowning credit score and you will not only be able to bring it back to life but you will get the chance to boost your credit score. Although the card accepts scores as low as 550, it rejects a lot of applications so keep this in mind before applying so that you are not highly disappointed.