The likelihood of having a low credit profile implies that your credit card possibilities are severely restricted. When you have a low credit score, it is advisable not to pursue unsecured credit cards since most issuers will need you to put down a security deposit before they would give you any money. In contrast, the Merrick Bank DoubleYourLine (www.doubleyourline.com) allows you to keep your choices open for unsecured credit cards even if your credit history is less than stellar. The only disadvantage is that you may not be eligible for “wonderful” conditions and that extra expenses may be greater as a result.
Throughout this post, you will learn all you need to know about the Double Your Line credit card, including what you can expect and the benefits of using Merrick Bank services. Read the whole article to learn about an alternative to this card as well as to get answers to your commonly asked concerns about credit cards in general.
Highlights of the Merrick Bank Double Your Line Promotion
It is possible that your financial situation will prevent you from managing a deposit for a secured card. In addition, having a bad credit score will prevent you from qualifying for decent unsecured credit cards. In this circumstance, credit cards from Merrick Bank might show to be a dependable financial option.
Even if you have a terrible credit history, you may get a cardholder in return for an annual fee, interest rates, and a few other fees and penalties. Continue reading until you reach the summary section to learn about all of the fees connected with the Merrick Bank DoubleYourLine (www.doubleyourline.com) credit card programme.
What is it about it that makes it such a fantastic choice?
The credit limit is the aspect that sticks out the most. If you have good credit, the starting limit is set at $550 to $1,250, depending on your creditworthiness. However, after only seven months of responsible use of the card, the limit will be automatically increased by a factor of two. This is contingent on making on-time payments, staying out of debt, and paying off any outstanding liabilities. After then, your credit line will be examined again, and if you are fortunate enough, you may be eligible for an even greater credit limit! Many other credit card providers, on the other hand, do not allow an increase in credit limit until a year or so has passed. Some companies even impose an extra cost of up to 25 percent of the increase in the credit line in order to boost the credit line.
Applicants who qualify with the lowest credit worthiness often have to deal with a slew of fees and penalties. As an alternative, if you demonstrate a strong credit history while applying for Merrick Bank credit cards, it is quite possible that you will be given a more favourable interest rate and set-up fee than you otherwise would. You could even be eligible for a no-annual-fee deal!
DoubleYourLine (www.doubleyourline.com) Card: All You Need To Know!
If you are accepted for a Merrick Bank card with bad credit, the high fees should not be a surprise. However, a greater credit limit and better credit score will help you manage your expenses. Here are all the costs to bear in mind when applying for a card.
|Recommended credit score||Poor-Excellent|
|Regular APR||17.45%-27.7% (Variable)|
|Annual Fee||Upto $72|
|Credit Limit||$500 or more|
Getting a good credit score
- Credit Score Check
The first step to raising credit score is frequent monitoring of finances and credit report. Many prominent credit cards now provide free FICO scores to consumers with good to exceptional credit. How about the avg? Anyone may apply for the Merrick Bank DoubleYourLine (www.doubleyourline.com) credit card regardless of credit background.
- Double Your Credit Limit In Months!
This is the card's main feature. Merrick Bank wants to reward conscientious consumers by automatically increasing their credit limit after only 7 months. That's a $500 to $1,000 rise just by paying on time! This would not cost you any more money or time. A greater limit ensures a healthy credit use ratio, which helps improve credit score over time.
- No Monthly Upkeep Fee
The card may seem pricey at first, but it is still cheaper than other cards with hidden costs. For example, some cards charge $6.25 or more each month as a maintenance cost, which adds up quickly.
- Additional Charges
Getting accepted for Merrick Bank credit cards with bad credit is doable, but generally comes with exorbitant fees and a $75 setup fee. This, plus the $72 yearly charge, means your account will be depleted of $147 even before you use the card.
Attention! “Be aware that any yearly or set-up fees reduce your credit limit.”
- APR hike
Those with bad credit are eligible for a higher APR. The www.doubleyourline.com (www.doubleyourline.com) credit card has higher interest rates than other secured and unsecured cards on the market. So most consumers find it tough to afford and correlate it with future bill payment issues.
- Annual Fees
Depending on your credit history, you may have to pay up to $72. Compared to other unsecured cards, this is a lot. The sole benefit is that you may pay the yearly price in 6 monthly instalments rather than all at once.
Online Invitation Response:
Merrick Bank often sends out internet invitations to potential clients. Are you a fortunate one? So, here's how to answer online.
- Open the online mail offer's URL. This links to the Merrick Bank Double Your Line page.
- Here? Then submit the Acceptance Certificate number.
- To continue, click Apply Now.
Reaction To Mail Offer?
Invitations are often sent to consumers' addresses. It gets this information by purchasing a client list and sending out invitation letters individually. How to reply to a postal offer.
- Receipt of Acceptance number
- Fill out the pre-approved acceptance form at www.DoubleYourLine.com .
- When done, click Apply Now.
No pre-approval letter in the mail or online? Don't fret! You may fill out the form on their official website and send it to them. How it works!
Visit www.DoubleYourLine.com Today!
Here? Now open the online application form and submit the following information:
- First and Last Name
- Middle Name (if any) (if any)
- Address \sDate of Birth
- Social Security Number \sEmail ID
You also have to supply information on whether you have relocated in the prior 30 days or not. After that click on the “See If I Match Button” to proceed.
Double Your Line Merrick Bank Reviews
Users from throughout the country have varying ratings and comments about their experience with the Merrick Bank www.doubleyourline.com credit card. Before you make up your decision whether this is the best option for you, check over the notes below to assist you decide better!
A Credit Karma member rated the card 4/5 and commented:
“I’ve had this card for a year and a half after becoming ill and tearing up my credit, and its just great. I was first accepted for $900 CL with low 500’s. Merrick granted me my rise two payments early, then two more in the past six months, pushing me to $2400 and into the mid 600’s. My score has gone up enough to replace two fee’d starter cards with an unsecured Capital One Platinum, as well as an Amex Gold that I use as a glorified FICO-reporting debit card.”
Another user on the same site rated the card 5/5 and remarked:
“In my view, the Merrick Bank Double Your Line Visa card is the greatest of all of the cards for people requiring a credit boost. My limit increases next month. None of my other cards gave that. The website is easy to browse, payments post swiftly, too. I adore the card and I’ll retain it, even if my credit is rebuilt to where I want it to be.”
Mattie Roberts evaluated the Merrick Bank services 5/5 and commented:
“Merrick bank card services, has really been an Uber pass in the revolving globe of perpetual financial troubles , thankyou guys, this card has been quite amazing for my life. Thanks again.”
Victor Small also observed generously:
“They are trustworthy, faithful, and devoted to their consumers. I’ve been with them approximately 5 yrs.and I adore them.”
www.doubleyourline.com Ratings \sCardRatings: 3/5
What Are Your Other Choices?
It is true that with a credit score in terrible condition your chances of qualifying for excellent unsecured credit card are quite minimal. However, you are not entirely out of alternatives. Have a peek!
Capital One® Secured Mastercard®
If your purpose is to avoid yearly fee and other costs then Capital One Secured card is your best alternative. You may get to use $200 credit line with an initial investment of simply $49. The credit limit may also be raised after using the card for 5 months but Merrick Bank offers an increment after 7 months of usage.
Discover it® Secured
Discover it provides a lot of perks like cashback incentives and no annual cost. Every cardholder may get 2 percent cashback at restaurants and petrol stations as well as 1 percent cashback on all other qualified transactions. You will also have the possibility to upgrade to an unsecured version of the card after 8 months of being a responsible cardholder. This credit card is offered for individuals with a bad credit history or even with no payment record.
Frequently Asked Questions About Merrick Bank DoubleYourLine
Q. How can I contact Merrick Bank for queries?
Ans. You may reach out to Merrick Bank for any concerns pertaining to DoubleYourLine credit card by phoning the number 1-800-204-5936. If you wish to send out a written message then use the address listed below:
“Merrick Bank Customer Service \sP.O. Box 9201 Old Bethpage, \sNY 11804-9001
Q. Is Merrick Bank credit card finally the best solution for credit rebuilding?
Ans. In case your purpose was to rebuild credit there are additional things you would want to consider before applying for it. For example, the Double Your Line credit card contains a lot of fees that can be tough to sustain. There are possibilities of secured cards accessible with an initial deposit as little as $39-$49 that might prove to be more useful than Merrick Bank credit cards.
Q. After how long can I anticipate a credit limit rise using Double Your Line credit card?
Ans. The first time you ask for a credit limit increase the answer will arrive promptly online. The following time an increase would demand a wait of 4 months however you might receive a reduction in credit limit after 6 months of gap interval.
Q. Do you need to pay international transaction charge using Merrick Bank cards?
Ans. Merrick Bank credit cards feature extra fees coupled with stringent penalties for late payments. For example, when your application is approved you need to pay the initial deposit within the first month. This would be followed by $36 yearly fee and $0.2 percent international transaction costs.
The Bottom Line
Double Your Line is an excellent solution for poor scorers seeking for a credit card. If you were fortunate enough to be authorised for it, remember to make on-time payment and ideally in full to re-establish your credit score swiftly. This is because timely payment add a lot to total FICO score. Moreover, the doubling of credit limit will enable you control credit use ratio better and consequently enhance the form of your credit report.