Merrick Bank Double Your Line® Secured Credit Card

Advertiser Disclosure Editorial Disclosure

Last updated on April 10th, 2023

Advertiser Disclosure Editorial Disclosure

Merrick Bank Double Your Line® Secured Credit Card

Merrick Bank Double Your Line® Secured Credit Card 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. Credit Needed: Good/ Fair/ Poor
Mastercard Processing Network
$36 the first year. Billed $3 per month thereafter Annual Fee

Merrick Bank Double Your Line® Secured Credit Card

  • 22.45% Variable Regular Purchase APR
  • 27.45% Variable Cash Advance APR

At a Glance

The Merrick Bank Double Your Line® Secured Credit Card is a useful tool for boosting your credit score thanks to its Double Your Line® feature. The card features a decent APR, and the chance at credit limit increases without making further cash deposits.

  • Best Benefits
  • Rates & Fees
  • Why Should You Apply?
  • Put down $200, which becomes your credit line. Then, if you qualify, double your credit line to $400 without making another deposit
  • Double your $200 credit line by making at least your minimum payment on time each month for the first 7 months your account is open
  • Secured Credit Cards are great for people looking to build or rebuild credit and are available to people with all kinds of credit backgrounds
  • Unlike a debit card or a pre-paid card, it helps build your credit history. We report your payment history 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: 22.45% Variable
  • Cash Advance APR: 27.45% Variable
  • Cash Advance Transaction Fee: Either $10 or 4% of the amount of each cash advance, whichever is greater
  • Annual Fee: $36 the first year. Billed $3 per month thereafter
  • 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
  • Minimum Deposit Required: $200
  • You're seeking to establish credit for the first time
  • You only have enough available funds for a small deposit
  • You have credit problems or no credit history
  • You want the chance of additional credit limits with no added deposit
Merrick Bank Double Your Line® Secured Credit Card

Merrick Bank Double Your Line® Secured Credit Card

Terms & Conditions

Merrick Bank Double Your Line® Secured Credit Card Review

The Merrick Bank Double Your Line® Secured Credit Card is a secured credit card that offers the chance to graduate from secured to unsecured credit. The card is similar to the Merrick Secured credit card – the bank’s other secured credit card offer.

Double Your Line

The main selling point with the card is the Double Your Line® possibilities. The card requires an initial security deposit of $200. That limit also is the same minimum deposit level as the basic Secured card from Merrick.

That $200 deposit becomes the credit limit with the new cardholder’s account. Once they on-time payments for each of the first seven months, they will automatically have their credit line raised to $400 – without the need to add more funds through additional security deposits.

Regular Reporting to the Major Credit Bureaus

Secured credit cards, like the Double Your Line® Secured Credit Card, are one of the best ways to quickly establish or rebuild. When using the Double Your Line® Secured for purchases and then pay the full balance each month, their FICO Score will rise in time.

Because Merrick Bank reports to the three major credit bureaus – Experian, Equifax, and TransUnion – every month, cardholders can raise their score with low credit utilization and a string of on-time payments.

How Does the Merrick Card Stack Up?

The Merrick Double Yur Line Secured Mastercard is a great way to build credit while enjoying exclusive features:

Merrick Secured Mastercard Prepaid Card Debit Card
Security deposit required?
Build Credit with on-time payments
Complimentary FICO Score
$0 Fraud Liability
Exclusive Mastercard experiences
Periodic reviews for credit line increases

Competitive APR

While Merrick doesn’t advertise their rates publicly (instead of offering terms before applying), the APR with the Double Your Line® Card is the same as the basic Secured Card. That purchase APR is slightly lower than the national average for a secured card – currently at 18%.

Merrick cardholders can’t make balance transfers, but the bank does allow cash advances. The APR for cash advances is around 22.5%.

Other Features of the Merrick Bank Double Your Line® Secured Credit Card

Other notable features of the Merrick Bank Double Your Line® Secured Credit Card include:

No account set-up fees No over-the-limit fees Online payment options
Online account management tools Free FICO Score every month Mastercard features and benefits

As mentioned, the Merrick Bank Double Your Line Secured Card features Mastercard Platinum benefits and protections, including:

Zero Liability Protection Mastercard Global Services ID Theft Protection

Frequently Asked Questions About Merrick Bank's Double Your Line® Secured Credit Card

Here you will find answers to some of the more commonly asked questions about Merrick Bank, its products, and the Double Your Line® Secured credit card:

  • Merrick Bank uses the Experian credit score when evaluating a credit card application. 
  • Yes. Merrick Bank reports regularly to all three credit bureaus: Experian, Equifax, and TransUnion.
  • Yes. the Merrick Bank family of credit cards are available in all 50 US states.

Merrick Bank Ratings

How does the Merrick Bank Card stack up? Here is a selection of expert reviews for the card:

Should You Apply for the Merrick Bank Double Your Line® Secured Credit Card?

Overall, the Merrick Bank Double Your Line® Secured card hits many the right notes for credit repair credit cards. Since the card only requires a $200 initial deposit, it won’t cost you much to get the card. Even better, if you make seven monthly payments, that credit limit is doubled – without the need for an extra deposit.

This makes the card an excellent option for those who have limited credit but don’t want to be hamstrung by a secured credit card. After seven months, they can graduate to a partially unsecured line of credit. 

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