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Merrick Bank Double Your Line™ Platinum Visa® Credit Card review

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Numerous fees and a high APR make credit-building difficult.

  • Get this card if: you really want a unsecured credit-building card.
  • Pick something else if: you qualify for a card with a lower APR and annual fee.
  • Apply with a poor credit score of 300 or higher.

Up to $70

Annual fee

20.95% to 29.2%

Purchase APR (variable)

300

Recommended credit score

Merrick Bank Double Your Line™ Platinum Visa® Credit Card
See if you are prequalified without harming your credit score.

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Details

Product NameMerrick Bank Double Your Line™ Platinum Visa® Credit Card
Annual fee$0 to $70
Purchase APR20.95% to 29.2% variable
Balance transfer APRN/A
Cash advance rate25.95% to 34.2% variable
Late payment feeUp to $39

Expert review

Steven Dashiell

Review by


Steven Dashiell is a credit cards writer at Finder. He's worked on 250 Finder articles and counting, helping readers embrace and maximize credit cards. Backed by nearly a decade of research and reporting experience, Steve's work can be seen on Debt.com, CreditCards.com and Lifehacker.

Expert review

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 $70 and an APR of 20.95% to 29.2% 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 Platinum Visa Credit Card 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.

Card benefits

  • Double your credit line. Merrick Bank may double your credit line after you make your minimum payment each month for seven months.
  • No penalty rates. You won’t experience a penalty APR for late payments or incur overlimit fees.
  • Credit score. You’ll have monthly access to your FICO score.

What to watch out for

  • Fees. This card has a higher-than-average number of fees associated.
  • High APR. The purchase APR on this card is higher than average at 20.95% to 29.2%.
  • Rising credit limit. After seven minimum payments Merrick Bank raises your credit limit. Though this could be a benefit, a higher limit has the potential to lead to debt and overspending.

Fees to watch out for. The Merrick Bank Double Your Line™ Platinum Visa® Credit Card carries a sizable number of fees for a credit-building card. These include:

  • Annual fee: $0 to $70
  • Late payment fee: Up to $39
  • High cash advance APR: You’ll pay a variable APR of 25.95% to 34.2% on any cash advance transactions you make with your card.

How to apply for the Merrick Bank Double Your Line™ Platinum Visa® Credit Card

To apply for the Merrick Bank Double Your Line™ Platinum Visa® Credit Card:

  1. Go to the provider's site and click Apply now.
  2. Fill out the required information to see if you prequalify without affecting your credit score.

What credit score do I need?

Merrick Bank may send offers to apply if you have a poor credit score of 300 or higher.

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Bottom line

Given this card’s numerous fees and high APR, it’s hard to recommend the Merrick Bank Double Your Line™ Platinum Visa® Credit Card 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.

Frequently asked questions

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