Mercury is a growing fintech in the US offering business banking and credit facilities to small and medium businesses. Its customer base is largely small businesses in the US.
It offers a business credit card to its customers which they offer to their employees with an easy credit check and flexible features.
Let us take an overview of the Mercury credit card and its key features.
Mercury offers a credit card for its business clients only. Its customer base is small and medium businesses for corporate banking facilities.
It does not offer a retail credit card to individuals directly. It means you can only apply for a Mercury credit card if your company has registered with them.
Mercury’s credit card IO is powered by Mastercard. Customers can use it anywhere in the world where Mastercard is accepted. It works like any other standard credit card issued by Mastercard.
Mercury’s IO Mastercard is an excellent choice for customers needing a simple credit card with straight cashback rewards. IO card comes with a simple 1.5% cashback program without any complications.
There are no hidden terms and conditions to apply for this card. It offers great flexibility, worldwide usage, and a simple reward program.
Mercury’s IO credit card provides several benefits to employers issuing them to their employees and users as well.
Let’s have a look at some key features of the IO card briefly.
- No credit score and credit check requirements for applicants.
- IO credit card does not come with an annual fee or other charges.
- 1.5% cashback rewards on all purchases (local and international) without any restrictions.
- Immediate transfer of cashback rewards to the user’s account.
- Monthly statement cycle with flexible payment options.
- Unsecured card with no personal guarantee or security deposit requirements.
- Google workspace integration option for employers.
Mercury does not require a credit check at the time of application. However, its partner bank Evolve bank and Trust may evaluate your credit score before approving the application.
Your credit card approval and the credit limit will largely depend on your creditworthiness including the salary you receive from a registered employer with Mercury.
You need to register with Mercury online to access your account and credit card details. The sign-up process takes a few simple steps.
- The first step is to visit the page Sign Up & Get Started | Mercury .
- Provide your first and last name as well as your work email address.
- Then, choose a strong password and confirm it by entering it twice.
- Submit the initial information for email address verification.
- Follow the prompts to provide the next information like your Employer Identification Number (EIN), contact number, mailing address, and so on.
- Confirm your account details through a verification email.
Once your online account is set up, use your credentials to log in every time. You can now access your Mercury account and IO credit card online.
The password reset is a simple process by clicking the “forgot password” link and receiving a reactivation link through your registered work email address.
You can activate your IO credit card online in a few simple steps. As you already have the account login details, it will take a few minutes.
- Go to the mercury.com/activate link and log in with your Mercury account details for which you want to activate the card.
- Navigate through the dashboard menu and select “Cards” from the list.
- Choose your IO credit card from the list for activation, the list will show you inactivated cards here.
- Select the IO card and press the “activate” button.
- Enter your IO card’s CVC number from the back side of the card.
- Set a new PIN for card activation and verify it.
If you face any card activation problem, you can also contact Mercury customer support for a quick recovery. (Details below)
Mercury credit cardholders need to link their bank savings or checking accounts with their cards only. When you activate the IO credit card, your Mercury bank account will automatically be linked to your card.
As you need a Mercury bank account to apply for the IO card, this feature does not require any other process.
You can easily make a one-time or full payment through your bank account in a few simple steps.
- Log in to your Mercury online account.
- Navigate through the dashboard and select “credit” to make a payment.
- You must have entered a bill payment date when you activated the IO card. If you want to change it, you can change it from here.
- Your minimum payment amount will be automatically deducted from your Mercury bank account linked to your IO card.
- If you want to make an early payment, choose the “pay” tab and select the amount you want to pay.
- You can also adjust settings for your autopay feature from the menu here.
Currently, there are no options to pay by mail or phone at Mercury. Also, you can change a bank account but it should be registered with Mercury. Therefore, you cannot pay using an external debit card at the moment.
The easiest way to check your IO credit card balance is to check your card statement. If you have set up an SMS alert, you’ll also receive a balance alert with each transaction.
Log in to your online Mercury account and navigate to the “credit” tab. Choose your IO card and click on the “view my statement” button.
Here you can easily confirm all processed transactions and verify your outstanding balance as well.
Mercury offers a direct customer support option through its dedicated email service only. Its business clients can contact them directly but individual cardholders have an option through email or social media only.
If you have a query regarding your IO credit card, you can send an email to [email protected].
Alternatively, you can navigate through its FAQs collection to find a quick answer to the most common queries.
Mercury offers two options to its IO credit cardholders for card cancelation and freezing. Both options work differently but provide some flexibility to its users.
Freeze Your IO Card
Log in to your Mercury online account first. Navigate through the dashboard and select the “credit” tab here.
Choose the right card type and select the IO credit card that you want to freeze. Select “freeze” from the “credit” menu and verify the step.
This action will temporarily freeze your IO credit card. Once your dispute is resolved or you want to reuse the card, you can unfreeze the card without applying for a new card again.
Cancel Your IO Card
If you permanently want to cancel your Mercury IO credit card, you can follow the same steps outlined above.
Select the “credit” tab from the dashboard and choose your IO credit card here. Then, expand the menu and click the “cancel” button instead of the “freeze” button you chose earlier.
This action will permanently cancel your IO credit card.
Before you can cancel or freeze your Mercury IO card, you must clear all outstanding bills including any charges or disputed transactions.