The Merrick Bank Double Your Line Platinum Visa credit card is a card intended to help people who need to build or repair their credit scores. As it takes more risk lending money to people with poor credit history, it must offset this risk by applying fees and high APR rates. If you use it correctly, this car can seriously help you improve your credit, but this comes at a cost.

This card has a scale of fees which is completely based on customers’ creditworthiness. So your annual fee, account set-up fee and additional card fees won’t be clear to you until they have properly assessed your credit situation.

Here are a few numbers to consider if you wish to acquire this card.

This is an unsecured card. This means you do not have to make a security deposit to set up your initial credit limit. The limit is defined according to your creditworthiness, starting at $550 up to $1,240. This credit limit doubles automatically after only seven months of on-time payments.

By making on-time payments you contribute to improving your credit score because Merrick reports your activity to all the major credit bureaus. The extra credit you get after seven months also contribute to your credit score because it helps you reduce your credit utilization ratio.

It’s finally time to put pros and cons side by side and decide which factors are the most relevant to you.

This is a card designed with fair, poor or no credit score individuals in mind. Therefore, it does not require that you have a good credit score in order to apply.

Keep in mind that there are other, cheaper options for you to apply for if your idea is to improve your credit score. Fees may look cheap at first, but in the long term they are very costly.

After analyzing this card’s pros and cons, its main figures and facts, you have decided to apply for it. Applying is simple and easy to do. Keep your personal info at hand and log on to their website to start the application process. You can do everything online and it will only take you a few minutes to complete.

If you would like a more complete walkthrough of the application process, just click the link below and you will get there in no time.