WalletHub, Financial Company
Yes, the Merrick Bank Secured Card can graduate to a partially-unsecured account if you use the card responsibly for at least a year. After the first year, Merrick Bank will periodically review your credit line, and your limit may be increased without needing to add to your security deposit.
In addition to that, if you manage to keep a good payment history, they may "pre-approve" you for their unsecured offering. With that said, it's important to know that you will need to submit a separate application for the unsecured version. Your entire credit history will be pulled and that will result in a hard inquiry on your report and a possible dent in your credit score.
People also ask
Did we answer your question?