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Last updated on April 27th, 2022
Merrick Bank Double Your Line® Mastercard®
- Regular Purchase APR 19.7% to 29.95% variable based on creditworthiness and the Prime Rate
- Cash Advance APR 24.95% to 34.95% variable based on creditworthiness and the Prime Rate
- Annual Fee $0 to $72
Credit NeededBestCards.com uses a variation of FICO Score 8, which is one of many different types of credit scores. A financial institution may use a different score when deciding whether to approve you for a credit card.Good , Fair , Poor
- Processing Network Mastercard
- Credit lines range from $550-$1,350 which double to $1,100-$2,700 after your account qualifies. No security deposit required
- Double your credit line by making at least your minimum payment on time each month for the first 7 months your account is open
- See if you are pre-approved within minutes, without affecting your credit score
- Build or rebuild your credit. AS you pay your bill every month, we report to all three major credit reporting agencies
- Get your FICO® Credit Score for free each month
- Fraud coverage if your card is lost or stolen. Access your account 24 hours a day, 7 days a week. Get help staying on track with available Auto Pay and account alerts
- Card issued by Merrick Bank, Member FDIC
- Regular Purchase APR: 19.7% to 29.95% variable based on creditworthiness and the Prime Rate
- Cash Advance APR: 24.95% to 34.95% variable based on creditworthiness and the Prime Rate
- Cash Advance Transaction Fee: Either $10 or 4% of the amount of each cash advance, whichever is greater
- Annual Fee: $0 to $72
- Foreign Transaction Fee: 2% of the transaction amount in U.S. dollars
- Late Payment Penalty Fee: Up to $40
- Return Payment Penalty Fee: Up to $40
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At a Glance
Increase your credit limit in just seven months with the Merrick Bank Double Your Line® Mastercard®. The card offers the opportunity to automatically double your credit line with seven on-time payments after opening an account – for an annual fee as low as $0.
Ideal for Those Who:
- Want an unsecured credit card and plan to demonstrate good credit habits
- Want the chance of additional credit limits with no added deposit
- Don’t want to pay a security deposit for a quality credit-builder card
- Plan on paying their statement on time every month
Merrick Bank Double Your Line® Mastercard® Review
Building or rebuilding credit is a process where having concrete goals can make all the difference. So the chance at doubling your credit limit with the Merrick Bank Double Your Line® Mastercard® is one of the better enticements for responsible financial habits on the market today.
Double Your Credit Line in Seven Months
The main selling point of the Merrick Bank Platinum Card is the chance to double the credit line in as little as seven months after opening an account. During the first seven months from account opening, all cardholders need to use their card and make at least the minimum payment on time every month. After that, cardholders receive a double credit line increase – automatically.
Thanks to the Double Your Line®, new account holders can watch their credit line jump to up to $2,700 in less than a year – significantly helping to lower their credit utilization ratio (with financially responsible card use). And, because Merrick reports to all three major credit reporting agencies every month, on-time payments can help their credit score improve significantly over time.
Merrick Bank also conducts account reviews regularly after the first year, with cardholders receiving a credit limit increase if they qualify. These features create an unsecured credit card product that grows with you on your credit journey – instead of holding you back.
Quick Online Pre-Approval
As with other Merrick Bank products, the Double Your Line® Mastercard® provides a quick online pre-approval process. Potential applicants can see if they are pre-approved within minutes without affecting their credit score. No credit check for pre-approval is a great way to see if the Merrick Bank Double Your Line® Mastercard® is right for you – without a hard inquiry on your credit report.
Frequently Asked Questions About the Merrick Bank Double Your Line® Mastercard®
Here you will find answers to some of the more commonly asked questions about Merrick Bank, its products, and the Double Your Line® Mastercard® credit card:
- Merrick Bank uses the Experian credit score when evaluating a credit card application.
- Yes. Merrick reports regularly to all three credit bureaus: Experian, Equifax, and TransUnion.
- Yes. Merrick Bank credit, debit, and banking products are available in all 50 U.S. states plus the District of Columbia (DC).
Merrick Bank Ratings
How does the Merrick Bank Card stack up? Here are a selection of expert reviews for the card:
What is the Merrick Bank Double Your Line® Mastercard® like to live with? Before deciding if the card is right for you, here’s what our readers and members think about the card:
Should You Apply for the Merrick Bank Double Your Line® Mastercard®?
There isn’t much not to love when it comes to the Merrick Bank Double Your Line® Mastercard®. The card offers the chance at an automatic credit limit increase in seven months just for making on-time payments every month. That double credit bonus offers the chance at more credit – and the benefits that come with that responsibility.
Doubling your credit line can significantly improve your FICO credit score when used alongside strong financial practices. These good habits include paying your statement balance in full and on time every month, keeping credit use below 30% of your total credit line, and avoiding too many new credit applications in a short time period.
The Merrick Bank Double Your Line® Mastercard® might not offer basic cash back like some other unsecured cards, but it provides the perfect base from which to build a positive credit history. Unlike some other cards that cardholders outgrow on their credit journey, the Merrick Bank Double Your Line® Mastercard® grows with you – and can be a great financial tool no matter where your travels take you.