Merrick Double Your Line Secured Visa

merrick double your line secured
Merrick Double Your Line will give you an opportunity to start building your score.

It’s hard to get approval for credit cards when your score is suffering. Many banks don’t even consider people who don’t have at least a fair score for their financial services considering it to be too much of a risk. That’s why some people have to look for secured credit card options. 

They are one of the best options for recovering your credit scores over time. At least that’s what happens when you use the credit card responsibly. Merrick Double Your Line Visa offers a great option for people looking to rebuild their scores. 

Not only does it offer you credit, but it also reviews your account periodically to get a better limit. If you’re willing to put in the effort and time for this solution you came to the right place. Find out how to apply, main benefits as well as APRs and fees below. 

merrick double your line secured visa
Credit Card
Merrick Double Your Line Secured
Up to $3.000 limit Double your limit fast
Recommended score 350-850
Click here to Apply On credit card page

How does Merrick Double Your Line Secured Visa work? 

Merrick Bank works with the idea of offering high quality financial services for people who may not have the best scores. Along with other insurance and loan services, the bank offers three credit cards aimed at this public, one of which is Merrick Double Your Line. 

This doesn’t mean that you can get these cards without any profile analysis from Merrick Bank. To be able to receive your Merrick Double Your Line, you must first be preapproved through its online form. Or you can start with Merrick Secured Visa and upgrade after a few months of timely payments. 

The main difference between this card and similar offers is the possible credit limit. With the right deposit amount you can get up to $3.000 limit. Which is great for anyone looking to start making big purchases. But be aware that, if you choose to hold a balance, high APRs and fees will apply. 

Is it a secured credit card?

Yes, this is a secured credit card option that allows people with poor credit scores to start their journey to recovery. This means that you must make a security deposit that will be used by Merrick Bank as collateral for your credit line.

That’s why you’ll be able to get a card despite poor credit scores. In most cases, your security deposit is the same as your line of credit. So if you make the minimum payment for Merrick Double Your Line of $200 you’ll get a $200 limit. There’s a possibility of making up to $3.000 in payment for a higher limit. 

Once you get an upgrade from a secured card you’ll get your deposit as a refund. 

Main benefits for Merrick Double Your Line

What you should really care about here is the fact that the Merrick Double Your Line reports your data monthly to the main American Bureaus: Experian, Equifax and TransUnion. That means that as you make your minimum payments on time, you’ll be able to get a significant credit score improvement. 

However, there are a few benefits we should mention here: 

  • Considers applicants with poor or bad credit scores;
  • Reports to 3 major bureaus; 
  • Up to $3.000 initial credit limit according to your security deposit; 
  • Double your limit within the first few months with timely payments; 
  • Monthly access to your FICO score with no additional cost; 
  • Zero liability clause in case of fraud; 
  • Monitor your account with account alerts; 
  • Get access to financial education resources. 

These benefits should help you get a better score and control your financial life better over time. 

Cons for Merrick Double Your Line

The security deposit itself is a problem for some people. Not everyone has some savings that they can put down in a deposit that will be retrieved a few months later. If this is the case for you, there are some unsecured card options that you might want to look into. 

As is the case with most other cards for poor scores, the APRs and fees are quite high. So we really don’t recommend you hold a balance on this card. You won’t have access to any rewards or cashback either. 

Some clients are also surprised when they must pay the whole $72 annual fee upfront in the first year. Afterwards, you’ll be charged $7 monthly for this fee instead. 

APRs and fees for Merrick Double Your Line

Credit cards for people with poor credit tend to have higher fees and interest rates. This is the case with Merrick Double Your Line and you’ll have to watch out for the following fees: 

  • $72 annual fee you must pay in total upfront; 
  • 19,7% –  29,95% variable APR; 
  • Up to $75 set up fee (check if this fee applies to you on the official website). 

As you can see, the variable APR is 19,7% at its best and almost 30% at its worst, which can make a balance quite heavy to carry. If you’re looking to get your finances under control, you should keep your spending to a minimum until you’re eligible for an unsecured card. 

How should you use this card?

Since payment behavior has a strong impact on your credit score, this is a powerful tool to get better numbers quickly. All you have to do is make some purchases and pay every balance on time. 

However, be careful when you’re buying. Remember that credit utilization ratio is also a part of your credit score. So you shouldn’t hold a balance that’s too close to your credit limit, or your potential improvements will be in vain. 

Other Merrick Bank credit card options

Merrick Bank has three credit cards for people with poor scores: 

  • Merrick Double Your Line Secured;
  • Merrick Bank Secured; 
  • Merrick Bank Visa Unsecured. 

They are all very similar, what really changes is who can get approved for each of them. When you apply for any Merrick Bank product, you’ll fill in a form on its website before being able to choose a card. After checking your profile you’ll receive an e-mail to inform you if you’ve been approved for either of these three choices.

merrick double your line secured visa
Credit Card
Merrick Double Your Line Secured
Up to $3.000 limit Double your limit fast
Recommended score 350-850
Click here to Apply On credit card page
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