Reviews
Merrick Bank Double Your Line Secured Credit Card full review: should you get it?
Merrick Bank Double Your Line Secured Credit Card is a card that gives you the opportunity to double your credit limit without having to increase your secured deposit. Read on to learn more!
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by José Gonçalo
Merrick Bank Double Your Line Secured Credit Card: automatic credit increase!
Indeed, building credit is not easy, whether you’re “starting from scratch” or rebuilding. That’s why it’s always good to have cards like the Merrick Bank Double Your Line secured credit card.
Merrick Bank Double Your Line Secured Card: check out how to apply!
Apply to Merrick Bank Double Your Line Secured Card and get a tool for building credit, free FICO score consultation, and more. Read on!
Learn more about this product and learn how it can help you:
Credit Score | Bad (below 670) |
Annual Fee | $36 paid in one go for the first year. Next, $3 per month |
Regular APR | 20.45% (variable) |
Welcome bonus | None |
Rewards | None |
Merrick Bank Double Your Line Secured Card: learn more about this financial product
Indeed, this card is another option Merrick Bank offers for those who want to build credit. To fulfill this function, this card provides the basic services necessary for this purpose.
Your payments are reported to the 3 largest credit bureaus in the country. You are also entitled to free monthly consultations on your FICO® score.
In addition, this card offers a non-secured limit of $200 for its customers. To access this benefit, just make payments on time during the first 7 months of use.
A minimum amount of $200 is required for a secured initial deposit. However, this card accepts deposits of up to $3,000.
In addition, it is a card with one of the lowest APRs compared to other secured cards available on the market. You still have a liability waiver in case of fraud.
There is also a mobile application service to facilitate the management of your card. Finally, it is a Mastercard card, accepted in most establishments in the country.
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Merrick Bank Double Your Line Secured Card features
Is this card a good tool for your profile? See the lists below for a more secure answer to this question. In fact, here are the main advantages and disadvantages of this credit product:
What are the benefits?
- Credit building: your payments are reported to the 3 major credit bureaus;
- Receive up to $200 of unsecured credit after 7 months of using this card;
- We are talking about a Mastercard product accepted anywhere in the country;
- Free monthly consultation of your FICO® score, one of the most relevant for the credit market.
And what are the drawbacks?
- Annual fee collection;
- No reward program or welcome bonus;
- 2% transaction fee;
- Requires security deposit.
What credit score do you need to get the Merrick Bank Double Your Line Secured Credit Card?
Indeed, no minimum score is defined by the company issuing this card. That way, regardless of your credit, you can apply for it.
How does the Merrick Bank Double Your Line Secured Card application process work?
You can request the card from home without facing lines or scheduling appointments. To find out how, check out our post below!
Merrick Bank Double Your Line Secured Card: check out how to apply!
Apply to Merrick Bank Double Your Line Secured Card and get a tool for building credit, free FICO score consultation, and more. Read on!
José Gonçalo
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