In order for you to be eligible for the Merrick Bank Classic Secured Mastercard® card you must successfully make your security deposit, be at least 18 years old, have a verifiable Social Security Number, have a verifiable home address in the U.S., not have any pending bankruptcy, not have another Merrick Bank Secured Card, not have any outstanding tax obligations and meet the income/debt affordability and identity verification required.

The Merrick Bank Classic Secured Mastercard® card does not double your credit line. Instead you will start with a credit line of $200 to $3,000, depending on your security deposit. Then, after the first year, your account will be periodically reviewed by Merrick Bank in order to see if you are eligible for a credit line increase. If the bank decides you qualify, you will get a credit line increase without the need for any additional deposit.

Debit cards work in conjunction with a checking account. They pull the money directly from the checking account. Secured credit cards, on the other hand, allow you to make purchases based on the credit line that has been made available to you. They require a security deposit, and they function like a regular credit card, reporting your activity to credit bureaus and helping you build or rebuild your credit, while debit cards neither report your activity nor help you build credit.

Yes. With the Merrick Bank Classic Secured Mastercard® card you can increase your credit line by making a new deposit which adds to the already deposited money totaling the maximum amount of $3,000. The new total amount deposited then becomes your new credit limit.