What is the average credit score needed to get approved for Merrick Bank Double Your Line® Secured Credit Card?

The Merrick Bank Double Your Line® Secured Credit Card does not have a minimum credit score required for approval.

Does Merrick Bank report to all three credit bureaus?

Account activity, including payment history, is reported to the three main credit bureaus.

Is the Merrick Bank Double Your Line® Secured Credit Card application process lengthy? Can you prequalify?

As soon as they get your security deposit, they'll look over your application and let you know if you qualify. When you're approved, it could take up to two weeks for you to get your card in the mail. Applicants may check their prequalification online without hurting their credit score.

What information is needed to apply for the Merrick Bank Double Your Line® Secured Credit Card?

You need to be at least 18 years old and possess a Social Security number, an ITIN or a passport. Merrick Bank will also require your physical home address in the U.S. In addition, the bank will ask if you have a pending bankruptcy or any outstanding tax obligations and it will verify your income and debts.

What is the minimum security deposit?

All Merrick Bank Double Your Line® Secured Credit Card customers have a $200 security deposit.

Does Merrick Bank offer upgrades to an unsecured credit card?

You may switch from a secured to an unsecured card once you’ve built up your credit enough to qualify.

Does Merrick Bank Double Your Line® Secured Credit Card raise credit limits automatically or charge for limit increases?

It will automatically double your credit line when you make on-time payments for your first seven months.

Does Merrick Bank Double Your Line® Secured Credit Card have good customer service or satisfaction?

Merrick Bank provides superior customer service. We are not aware of any widespread complaints about this card issuer.

Does Merrick Bank Double Your Line® Secured Credit Card have a mobile app or the option to pay or manage your account online?

Merrick Bank's mobile app is available on Google Play and the Apple App Store. You can pay your account online and manage your card using the app.

Does the Merrick Bank Double Your Line® Secured Credit Card offer the option to freeze your credit/account or have other security features?

This card has a $0 fraud liability security feature, meaning you won’t be held responsible for any unauthorized or fraudulent charges.

Does Merrick Bank offer other credit cards besides the Double Your Line Secured Visa?

Merrick Bank also offers the Platinum Visa Credit Card and the Secured Visa Credit Card, in addition to the Double Your Line Secured Visa.

MoneyGeek’s Take

Merrick Bank Double Your Line® Secured Credit Card Review

Q: In what states is the Merrick Bank Double Your Line® Secured Credit Card available?

The Merrick Bank Double Your Line® Secured Credit Card is available in all 50 states.

When you have bad credit, start with a secured credit card. Secured cards are credit cards that require a deposit, and they are the best credit cards for developing good financial habits and increasing your credit scores. The Merrick Bank Double Your Line® Secured Credit Card requires a $200 deposit, which is your credit line until the bank doubles your credit line to $400 if you make at least your minimum payment for the first seven months.

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
The Merrick Bank Double Your Line® Secured Credit Card is an accessible and rewarding secured credit card. It requires an initial deposit of at least $200. But once you make that deposit, you have the potential to double your line of credit without having to make another deposit at all.
Just make your monthly payments on time for seven months in a row without a hiccup. After the seventh billing cycle is complete, Merrick will automatically double your line of credit to $400.
Furthermore, those on-time payments will be reported directly to the three big credit bureaus, allowing you to build your credit over time. You can check your credit score regularly thanks to free FICO access, which is included with your account.
Other benefits include fraud liability protection and a host of online budgeting tools. All in all, this secured credit card is a perfect pick for folks looking to rebuild their credit and who want to build good financial discipline – there’s an attractive reward waiting at the end of seven months!
Pros
Reports to all three credit bureaus each month
Free FICO score access
$0 fraud liability protection
Lets you quickly double your credit limit

Cons
APR can be high
Foreign transaction fees
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.
Disclaimer: Credit card offers are constantly changing. We work hard to stay updated with the latest information, but the offers listed on our site may no longer be available.
Terms, rates and fees apply
Compare this credit card with other secured credit cards from our partners.

WHY TRUST OUR REVIEWS

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.

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.
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.
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

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

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

sources

Capital One. "Platinum Secured from Capital One." Accessed March 17, 2022.
Experian. "Merrick Bank Double Your Line® Secured Credit Card." Accessed May 17, 2023.
Merrick Bank. "Merrick Bank Secured Cards." Accessed December 14, 2021.

*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.
Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone and have not been reviewed, endorsed or approved by any bank, credit card issuer, hotel, airline, or other entity. Learn more about our editorial policies and expert editorial team.
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