Merrick Bank Double Your Line® Secured Credit Card
Fast approval, 3 credit bureaus reporting card with free credit score
Updated: Mar 02, 2023
Issued by Merrick Bank the Double Your Line Secured Mastercard is designed for those with not-so-good credit who want to build credit history while tracking monthly progress with a free FICO score tool. The card comes with low APR, the possibility to double credit line after a few months when making timely payments, credit reporting, and full Visa card benefits.
ANNUAL FEE
$36
ONGOING APR
21.95% Variable
INTRO APR
N/A

at Merrick Bank Secured website
Apply NowIntroductory APR
N/A
Intro APR Period
N/A
Recommended Credit Score
Accepts All
Key Features
- 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.
Our Take
If you’re looking to build or improve your credit score, the Merrick Bank Double Your Line Secured Credit Card may be worth considering. In this article, we’ll take a closer look at the features and benefits of this card, as well as compare it to some other popular secured credit card options.
What is the Merrick Bank Double Your Line® Secured Credit Card?
The Merrick Bank Double Your Line Secured Credit Card is a secured credit card, which means that you must make a security deposit to open the account. This deposit serves as collateral for your credit line and can range from $200 to $3,000. The amount of your deposit determines your credit line, and your credit limit can be increased over time with responsible use.
Features and Benefit
In this section, we’ll explore the features and benefits of the Merrick Bank Double Your Line Secured Card in greater detail. By understanding the card’s features and how they can benefit you, you’ll be better equipped to decide if this card is the right choice for your credit-building needs. From its unique Double Your Line® feature to its cash-back rewards program, there are many reasons why this card is worth considering.
Double Your Line® feature
After you make your minimum security deposit and make timely payments for the first seven months, Merrick Bank will automatically review your account to see if you’re eligible for a credit line increase. If you’re eligible, Merrick Bank will double your credit line, without requiring an additional security deposit.
Credit reporting to major credit bureaus
Merrick Bank reports to all three major credit bureaus (Equifax, Experian, and TransUnion), which means that your responsible use of the card can help improve your credit score.
Low annual fee
The annual fee for the Double Your Line Secured Credit Card is $36 for the first year and $3 per month thereafter, which is relatively low compared to some other secured credit cards.
Cash back rewards
This card offers 2% cash back on gas and grocery purchases and 1% cash back on all other purchases. This rewards program can help you save money on everyday expenses.
Introductory APR
The card offers a 0% introductory APR on purchases for the first six months. This can be useful if you need to make a large purchase and want to avoid paying interest for a few months.
Balance transfer options
The card also offers balance transfer options, which can be useful if you have high-interest credit card debt that you want to consolidate onto one card. However, the balance transfer fee is 4% of the amount transferred, which is higher than some other secured credit cards.
What Are the Drawbacks?
While the Merrick Bank Double Your Line Secured Credit Card offers many benefits, there are some drawbacks to consider. The balance transfer fee is relatively high, at 4% of the amount transferred. Additionally, the cash back rewards program is limited, with 2% cash back only on gas and grocery purchases and 1% cash back on all other purchases. Finally, while the card’s annual fee is relatively low, some other secured credit cards have no annual fee at all. These drawbacks may make other secured credit card options more appealing for some consumers.
Other Merrick Bank Offers
Other Similar and Competing Offers
- First Progress Platinum Prestige: This card offers no credit check requirement, a low annual fee, and a rewards program. However, it doesn’t offer introductory APR or balance transfer options.
- Applied Bank Secured Visa Gold: This card has a low annual fee, no credit check requirement, and offers cash back rewards. However, it doesn’t offer introductory APR or balance transfer options.
- OpenSky Secured Visa Card: This card has no credit check requirement and a low annual fee. However, it doesn’t offer any rewards or an introductory APR.
- Coinbase Visa: This card offers rewards in cryptocurrency, no annual fee, and no foreign transaction fees. However, it’s only available to Coinbase users and doesn’t offer introductory APR or balance transfer options.
- GO2bank Secured Visa: This card has no credit check requirement, no annual fee, and offers cash back rewards. It also offers an optional savings account with a high-interest rate. However, it doesn’t offer introductory APR or balance transfer options.
Bottom Line
The Merrick Bank Double Your Line® Secured Credit Card is a good option for those looking to build or improve their credit score, especially with the card’s Double Your Line® feature, low annual fee, and cash back rewards. However, the balance transfer fee is relatively high, and there are other secured credit card options with no annual fee and better rewards programs. It’s important to compare different secured credit cards and choose the one that best fits your financial goals and needs.
Issuer: | Merrick Bank |
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Network: | Mastercard® |
Category: | Consumer (Secured) |
Best Used For: |
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Rewards: | No |
Regular APR: | 21.95% |
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Regular APR Type: | Variable |
Annual Fee: | $36 |
Balance Transfer: | No |
APR on Cash Advances: | 26.95% |
Grace Period: | 25 days |
Late Payment Fee: | Up to $40 |
Other Fees: |
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Merrick Bank Double Your Line® Secured Credit Card Alternatives
![]() Merrick Bank Double Your Line® Secured Credit Card |
APPLY NOW |
Annual Fee $36 |
Regular APR 21.95% |
Intro APR N/A |
Rec. Credit Score Accepts All |
Merrick Bank Double Your Line® Secured Credit Card
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