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20.95% to 31.2%
Purchase APR (variable)
300
Recommended credit score
Review by
Steven Dashiell is Senior Writer, Personal Finance at Finder specializing in all things credit cards. With more than 300 articles under his belt, he aims to help readers embrace credit cards and maximize their rewards. Steve is studying to become a Certified Educator in Personal Finance, and is a frequent face on Finder’s YouTube channel, offering the latest in credit card hacks and advice. His expertise has been featured on numerous outlets, including U.S. News & World Report, NASDAQ, Time, CBS, Fox Business, Lifehacker, Martha Stewart Living and more.
While the offer to double your credit limit after a few on-time payments sounds enticing, the rest of this card’s features signal red flags. Namely, you’ll pay an annual fee of $0 to $72 and an APR of 20.95% to 31.2% variable, depending on your creditworthiness.
Strong unsecured credit-building cards feel like something of a rarity on the market and the Merrick Bank Double Your Line® Mastercard® falls squarely into the “read the fine print” pile. Certainly, the card offers some credit-building perks, such as reporting to the major credit bureaus and offering FICO score updates each month. But so do countless other credit cards – albeit without the fees.
If your goal is to build your credit score, you should look to do with while paying as little in fees as possible. With a potential annual fee and a high APR hanging over your head, we recommend you look elsewhere to build your credit.
To apply for the Merrick Bank Double Your Line® Mastercard®:
Merrick Bank may send offers to apply if you have a poor credit score of 300 or higher.
Fees to watch out for. The Merrick Bank Double Your Line® Mastercard® carries a sizable number of fees for a credit-building card. These include:
Merrick Bank Double Your Line® Mastercard® |
Merrick Bank Double Your Line® Secured Credit Card |
Merrick Bank Secured Credit Card |
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★★★★★ |
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Minimum Credit Score 300 |
Minimum Credit Score 300 |
Minimum Credit Score 300 |
Annual Fee $0 to $72 |
Annual Fee $36 |
Annual Fee $36 |
Purchase APR Up to 31.2% variable |
Purchase APR 18.95% variable |
Purchase APR 18.95% variable |
Balance transfer APR N/A |
Balance transfer APR N/A |
Balance transfer APR N/A |
Rewards None |
Rewards None |
Rewards None |
Welcome offer N/A |
Welcome offer N/A |
Welcome offer N/A |
Compare even more credit cards
Given this card’s numerous fees and high APR, it’s hard to recommend the Merrick Bank Double Your Line® Mastercard® for building credit. Even if you were to use this card perfectly, paying an annual fee is counterproductive to your ultimate goal of financial health.
If you need to build or rebuild credit, we recommend comparing secured credit cards to find one that best suits your financial profile.