Looking for ways to increase your credit score? Well, stop looking because ‘Double Your Line’ VISA credit cards are the best option you can get for increasing your credit score while enjoying other benefits on the way.
The Merrick Bank offers two credit cards that cannot just be used for increasing your credit score but also offers a lucrative option of doubling the credit line.
- All you have to do is to pay at least the minimum payment for the first 7 months consecutively.
Yes! You heard me right!
After 7 responsible months, your credit line will automatically double. Both the unsecured Platinum VISA credit card and secured Double Your Line VISA credit card offers this facility.
What Is Double Your Line Credit Card?
The Merrick Bank offers two credit cards that may be used to rebuild credit score and offers the opportunity to double your credit line via responsible use. Both cards are available on invitation-only status, that is, you can’t apply for these credit cards if you haven’t received an invitation from the bank.
A brief view of both credit cards is given below.
Unsecured Platinum VISA Credit Card
Depending on your credit score, this card offers an initial credit line in the rage of $550 to $1200. Moreover, the unsecured tag means you don’t have to make an initial deposit and you can start using the card right away.
If you are able to pay only the minimum payment for the first 7 months of use, the bank will automatically double your credit line. This can seriously help you rebuild your credit score. Its alternatives include credit one offer. Which is pretty amazing as well.
Secured Double Your Line Visa Credit Card
This credit card requires a security deposit of $200 which will be your credit line limit as well. However, if you successfully pay at least your minimum payment for the first 7 months then this limit will be doubled.
Your credit line will be changed to $400 without any hassle and need for depositing any more amount.
Moreover, this card has a lower APR rate than the Platinum VISA credit card, which will be favorable to several customers who can deposit a mere $200 as an initial deposit fee.
Other Common Features Of Double Your Line Credit Cards
Apart from the distinguishing features of both credit cards explained above, there are several other benefits of using Double Your Line credit cards.
Firstly, your credit score will be reported to 3 major credit bureaus that will make sure the improvement in your credit score doesn’t go unnoticed.
Secondly, you’ll be able to receive free FICO credit scores every month. Furthermore, you’ll be able to use the mobile app of Merrick Bank to manage and view all your activities and information related to the credit card.
Moreover, these credit cards have zero-liability for any kind of unauthorized use in an unfortunate event where you might lose your card.
Furthermore, a paperless statement option and free financial education resources will be at your disposal.
Final Word On Double Your Line Credit Cards
Both secured and unsecured VISA credit cards from Merrick Bank can be used to rebuild your credit score, in addition to getting the opportunity for doubling your credit line.
The secured Double Your Line VISA card is a much better option but it has a lower credit line limit that will be doubled to $400 after 7 months of responsible use.
However, the Platinum VISA credit card does offer a higher credit line but at the expense of higher APR and annual fees. However, one of the best payment methods is www.securitasepay.com in 2020.
This was everything from our side, choose the card that best suits you, and does share your feedback with us.