| Last updated on March 19th, 2024
Mercury™ Mastercard®
Mercury™ Mastercard®
Mercury™ Mastercard®
- 29.99% variable based on the Prime Rate Regular Purchase APR
- 29.99% variable based on the Prime Rate Balance Transfer APR
- 29.99% variable based on the Prime Rate Cash Advance APR
At a Glance
The Mercury® Mastercard® is a no annual fee credit card for those hoping to boost their credit score while potentially earning decent rewards. The card from Mercury Financial is only available by pre-selection and an invitation code to apply, meaning other credit-builder options might make more sense.
- Best Benefits
- Rates & Fees
- Why Should You Apply?
- No annual fee
- Free access to FICO score
- Reports to the three main credit bureaus
- $0 Fraud Liability if your card is lost or stole
- Regular Purchase APR: 29.99% variable based on the Prime Rate
- Balance Transfer APR: 29.99% variable based on the Prime Rate
- Balance Transfer Transaction Fee: Either $5 or 4% of the amount of each balance transfer, whichever is greater
- Cash Advance APR: 29.99% variable based on the Prime Rate
- Cash Advance Transaction Fee: Either $10 or 5% of the amount of each cash advance, whichever is greater
- Annual Fee: $0 to $79
- Foreign Transaction Fee: 0% to 3% of the transaction amount in U.S. dollars
- Late Payment Penalty Fee: Up to $41
- Return Payment Penalty Fee: Up to $41
- You have had credit issues in the past
- You want an unsecured card that doesn’t charge an annual fee
- You plan to pay your balance in full every month
- You have received a pre-approval letter from Mercury™
In-Depth Review: Mercury™ Mastercard®
Note: The Mercury Mastercard requires an invitation to apply. Don’t have an invite code? Check out similar near-prime credit card offers available without an invitation code.
The Mercury® Mastercard® is a no annual fee, unsecured credit card that helps those with challenging credit and boost their credit score.
Who Can Benefit from the Mercury™ Mastercard?
The Mercury™ Mastercard® is a versatile credit card that can benefit a wide range of individuals. If you’re someone who wants to establish or rebuild your credit without an annual fee, this card is an appealing option.
How to Get the Mercury Card
Not Open to All Applicants
As mentioned, the Mercury Mastercard is not open to just anyone. Mercury Financial, the company behind the credit card, mails out preapproved offers with invitation codes to potential customers. This information is pulled from basic information on your credit report, meaning receiving a mail offer from Mercury or other issuers won’t impact your credit until you apply.
If you misplace your invite code you can check for it on the Mercury website. Simply enter your last name, ZIP code, and the last four digits of your Social Security Number (SSN).
How to Earn Rewards
The Mercury Card offers basic rewards to some users – but not to others. So, if you receive an invitation to apply for the Mercury Card, can you expect any rewards? Mercury does not provide up-front information on the rewards users can earn with their cards.
That said, the Mercury Mastercard offers eligible cardholders 1X points on eligible purchases. There is no cap on rewards earned. Additionally, points will round up to the next dollar. While this rewards rate isn’t exceptional, it is still a welcome feature for those looking to rebuild their credit score.
How to Redeem Rewards
Points earned with the Mercury Mastercard are eligible for statement credits, with a minimum redemption of 1,000 points. One-thousand points equal $10, which is the minimum amount available for redemptions. It may take up to a week to see your credits on the card account after redeeming.
Credit-Builder Benefits
One of the key features of Mercury is its credit-building capability. By using the card responsibly and making timely payments, you can improve your credit health over time. Additionally, the Mercury™ Mastercard® comes with a competitive APR, making it an affordable option for those who carry a balance.
Mobile App
The Mercury Mastercard app also offers cardholders a secure way to check their account balance and transaction history and manage linked bank accounts to pay their monthly statements. The app sounds great in principle, but there are many complaints from cardholders that are either Barclay’s holdovers or new to Mercury that have encountered issues with both the app and the card’s website.
Mastercard Benefits
The Mastercard perks of the Mercury Card extend beyond the near-global acceptance of the card. Cardholders also enjoy a variety of perks, including:
| Zero Liability Protection | Mastercard Global Services | ID Theft Protection |
Comparison
Here is how the Mercury Mastercard stacks up compared to two popular competitors:
 Mercury™ Mastercard® |
 Mission Lane Visa® Credit Card |
 Petal 2 Visa® Credit Card |
| Invite only | Open to all applicants | Open to all applicants |
| Up to 1% cash back on all purchases (not all card offers feature rewards) | See if you qualify instantly without harming your credit score and enjoy an instant decision on your application | Up to 1.5% cash back on eligible purchases after making 12 on-time monthly payments; 1% cash back on eligible purchases right away |
| $500 – $1,500 credit limits | Be automatically considered for a higher credit line in as few as 7 months. | $300 – $10,000 credit limits |
| Free, online credit score access for cardholders. | No credit score? No problem. If eligible, we’ll create your Cash Score instead. | |
| $0 to $79 annual fee | $0 to $59 annual fee | No fees whatsoever |
Reflex Mastercard
The Reflex® Platinum Mastercard® is another near-prime alternative to the Mercury Mastercard. Like Mercury, Reflex is designed for applicants with fair credit and comes with a solid credit line of up to $1,000. Additionally, Reflex Card offers a chance at a credit line increase with on-time payments, motivating cardholders to make payments on time and develop proper financial habits. For those with credit scores in the 580s or low 600s, the Reflex Card is ideal.
Tips for Maximizing the Benefits of the Mercury™ Mastercard®
Here are some practical tips for getting the most out of the Mercury Mastercard:
- Pay your balances in full each month to avoid building up heavy interest charges.
- Take advantage of the rewards program by using your card for everyday purchases, then use those rewards to offset your balance.
- Stay within your credit limit to keep a healthy credit utilization ratio.
- Set up automatic payments to ensure you never miss a payment and avoid late fees.
- Monitor your credit score regularly to track your progress and identify areas for improvement.
What We Like About Mercury
One of the standout features of this card is its credit-building potential. If you’re looking to establish or rebuild your credit, the Mercury™ Mastercard® can be a valuable tool. Additionally, the rewards program allows you to earn points on your everyday spending, giving you the opportunity to enjoy cash back, travel rewards, or merchandise.
Things to Consider
The card benefits from the global acceptance of the Mastercard payment network. To date, the Mastercard network encompasses over 40 million merchants worldwide. That’s not to say, however, that the Mercury Card is the best option for use outside the United States. The card features a foreign transaction fee of 3% of the transaction cost in U.S. dollars, which isn’t the worst rate out there, but it’s certainly not as good as a card that charges no foreign transaction fees at all.
FAQs
Here are answers to some of the most commonly asked questions about Mercury and the Mercury Mastercard:
Preapproval letters for Mercury come as either a physical letter or an email. Preapproved offers are granted by the lender and are based on basic credit report information they obtain from reporting agencies. A preapproval letter is no guarantee of approval for the Mercury Mastercard.
You can mail your payments to:
Card Services
PO Box 70168
Philadelphia, PA 19176-0168
You can additionally pay online, via the Mercury mobile app for iOS and Android, or by calling (866) 686-2158.
Mercury Financial pulls from any of the three major credit bureaus (TransUnion, Equifax, and Experian).
Those with bad credit, or even no credit history at all, should consider a merchandise card, like the Merit Platinum, Freedom Gold, Buy on Trust, or Unique Platinum. These merchandise, or catalog cards, provide an unsecured line of credit that cardholders can use to make purchases at select retailers, as described in each card’s review.
While the Mercury Mastercard is issued through First Bank & Trust, the card is actually the product of CreditShop, a financial services company that purchased a significant portion of the Barclays credit card portfolio in 2018. This purchase has resulted in some Barclays cardholders having their existing accounts switched to the new Mercury Mastercard.
So, did Barclays buyout the Mercury Card? No. The Mercury Mastercard is not affiliated with Barclays or Barclaycard. It simply shares ownership with a company that purchased a large share of the Barclays portfolio – especially credit cards for people with average credit or bad credit.
Should You Apply for the Mercury™ Mastercard®?
The Mercury™ Mastercard® is an intriguing option for those who are looking to rebuild their credit, but not be tied down with a substandard card that charges an annual fee once their score improves. The regular reporting to all the major credit bureaus and the lack of an annual fee is the major selling points of this card, which otherwise struggles because of the high-interest rates it charges.
First Bank & Trust only allows those who receive a reservation code in the mail to apply, which is frustrating, but not uncommon. Credit One is one of the most well-known examples of a card issuer mailing out invites to apply, with their cards also targeting those with less-than-perfect credit scores.
In this marketplace, the Mercury Mastercard is a decent option to consider. The high APR, however, makes it a difficult card to live with for those who need to carry a balance. Fortunately, there are other offers to consider that provide the chance to build credit and a lower interest rate. Since the card also requires a fair credit score, it may be difficult to get for those with a credit score in the low 600s or a credit score of 580 or more.
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