The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired.


  • Merrick Bank Double Your Line® Secured Credit Card

    Best credit card for training good financial habits


    • 22.45% VariableAPR
    • $200Min. Security Deposit
    • $36*Annual Fee
    • PoorRecommended Credit

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We adhere to a straightforward and well-defined methodology and review process when we do credit card reviews. The technique entails extracting data from the Consumer Financial Protection Bureau's database, standardizing data points for simple comparison, predicting average expenditure profiles, calculating long-term value and performing periodic re-ranking of all cards.

The Merrick Bank Double Your Line® Secured Credit Card may appeal to customers who want to improve their credit history while increasing credit limits for good consumer behavior. Every month, cardholders receive free access to their FICO credit scores so they can track their credit progress. Lenders use FICO scores and other credit report information to analyze risk and decide whether to offer loans and credit cards.

Merrick Bank Double Your Line® Secured Credit Card Overview

If you're interested in this card, there’s a good chance you either have no credit or poor credit. Submit your payments on time every month to build a positive credit history that could enable you to get an unsecured credit card down the road.

Is Merrick Bank Double Your Line® Secured Credit Card a good card? With this card, keep the following features in mind:

Quick Take

  • Deposit $200 initially. Following on-time payments for 7 months, credit line is doubled to $400 w/o requiring another deposit
  • $36 annual fee for the first year., billed at $3 dollars per month thereafter.

Important Card Details

It’s important to fully understand every aspect of the card you’re applying for. In the following table, you’ll find more details about the fees, reward rates and other things you should know about the Merrick Bank Double Your Line® Secured Credit Card.

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    Regular APR

    The Merrick Bank Double Your Line® Secured Credit Card offers a variable annual percentage rate (APR) of 22.45% on purchases and a 27.45% APR for cash advances. Additionally, interest is accrued on balance transfers and cash advances from the date of the transaction. This APR is subject to change quarterly based on the current prime rate.

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    Annual Fee

    The Double Your Line Secured Visa has an annual fee of $36 for the first year, followed by a monthly fee of $3.

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    Foreign Transaction Fee

    This card charges 2% in foreign transaction fees, so it might not be a great option for those of you who frequently travel overseas.

Additional Benefits

According to J.D. Power, the combination of increased financial stress, weak customer service and misaligned rewards has led to a decline in credit card customer satisfaction. This means it’s even more important than ever to find the right card for your needs.

You can also check out our glossary page to better understand some of the general terms about credit cards.

  • Build credit through reporting payment history: Account activity, including payment history, is reported to the three leading credit agencies by Merrick Bank, namely Equifax, Experian and TransUnion.
  • Free monthly FICO score: Get access to your FICO score for free. Payment history accounts for 35% of your FICO credit score, making it the most critical factor to determining this important score.
  • Refundable security deposit: Merrick Bank will refund any leftover security deposit funds when your Double Your Line Secured Visa account is canceled and all outstanding amounts are paid in full.

How the Merrick Bank Double Your Line® Secured Credit Card Compares To Other Cards

While the Merrick Bank Double Your Line® Secured Credit Card is a solid option for secured credit cards, there may be better choices. Specifically, we wish to examine secured credit cards that provide comparable features without annual fees. Let’s take a look at how this card compares to the Capital One Secured Mastercard.

How the Merrick Bank Double Your Line® Secured Credit Card Compares

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Merrick Bank Double Your Line® Secured Credit Card

  • Annual Fee: $36
  • Foreign Transaction Fee: 2% of each transaction in U.S. Dollars
  • Purchase APR: 22.45% variable
  • Rewards: None
  • Mini Verdict: Best credit card for training good financial habits
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Capital One Secured Mastercard

  • Annual Fee: $0
  • Foreign Transaction Fee: $0
  • Purchase APR: 30.49% variable
  • Rewards: None
  • Best For: Those trying to build credit with no annual fee

Frequently Asked Questions

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*Rates, fees or bonuses may vary or include specific stipulations. The content on this page is accurate as of the posting/last updated date; however, some of the offers mentioned may have expired. We recommend visiting the card issuer’s website for the most up-to-date information available.
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