If you are reading this after the past article, then it is because we caught your attention, well, not exactly us, but more the Merrick Bank Personal Loan company. Now that you have an idea about how this company works, we are here to show you even more about it, and you should feel lucky, because we will give you the best tutorial ever.

One last thing, before the article really starts, is that you should never look up just one company and choose it right away. Every company has its ups and downs, but if you don’t look for every company’s ups and downs, you will never know which is better suited for you. This is just a small reminder that the first thing you see doesn’t need to be your first choice, anyway, let’s get started.

One of the biggest pros that this company has is that it considers applicants with fair credit. That means that, many people have bad credit and that is unacceptable, and then there is the next stage which is called fair credit.

Fair credit is different depending on the type, if its FICO score is from 580 to 669, if its VantageScore is from 601 to 660. To get a loan, you normally need good or excellent credit, so this company will consider you even if you have fair credit (it doesn’t mean you will get the loan thought)

Another quality is the funding. The loan company Merrick Bank Personal Loan gives you access to the funding in one business days. “But what does that mean”, you may ask, well, it means that when you apply for a loan, you will ask for a certain amount of money, that money, sometimes, takes time to get into your account. But with Merrick Bank Personal Loan, you will be able to access and use that money in one business day, which is, really fast.

Like any other company, service or whatever, Merrick Bank Personal Loan has cons, in other words, not so good points or quirks. Cons are inevitable in anything, because after all, how could you know something is good if you have nothing to compare to it? Well, let’s get started on it.

The first con is that the Merrick Bank Personal Loan company’s APR’s are super high, and go about 35.99%. The normal amount for an APR is about 20%. You may ask what is and APR, well, APR is the amount of money you pay each year to borrow money, that includes fees expressed as percentage.

The second con is that the company will charge you an origination fee up to 5% of the loan amount. That means that, when you make a loan, the lender will charge you with an amount of money for making the mortgage loan. You are not forced to pay the fee, but it brings benefits in case the loan is a long term one.

If you dislike prepayment fees, you will hate this next con, because the Merrick Bank Personal Loan company will charge you for it, it depends on the loan, but even so, it is very annoying. A prepayment fee is usually to make sure you pay back the loan, but this means that the company will charge you with the fee and one of your properties as a security measure.

The final con is that if you, when you are repaying a loan, pay it late, you will then be charged of another fee.

To get a loan with Merrick Bank Personal Loan, you should follow some simple rules: the credit scores between 580 up to 850 may be eligible to apply for a loan, and you have to be at least 18 to be able to ask for one. A good side is that Merrick Bank Personal Loan does not have a minimum annual income you have to earn. The applications have to be individual, and you need a bank account.

Now, if you still are interested with this company, click on the link below, so you can see the step by step on how to apply for a loan.