Maria Adams, Credit Cards Moderator
@m_adams
Yes, it’s possible for many secured cards to become unsecured after using them responsibly for 12-18 months. Making on-time payments every month you have a secured card will help speed things up, as will using only a portion of your credit limit.
The exact time it takes for a secured card to graduate to an unsecured credit card depends on the card issuer, how the account is managed, and whether or not the card even has the capability of graduating in the first place.
Notable Secured Cards that Can Become Unsecured
- High Rewards Rate: Bank of America® Customized Cash Rewards Secured Credit CardLearn MoreLearn More
- High Rewards Rate: Bank of America® Customized Cash Rewards Secured Credit CardLearn MoreLearn Moreon issuer's website
- High Rewards Rate: Bank of America® Customized Cash Rewards Secured Credit CardLearn MoreLearn More
- Beginners: Citi® Secured Mastercard®Learn MoreLearn More
- Beginners: Citi® Secured Mastercard®Learn MoreLearn Moreon issuer's website
- Beginners: Citi® Secured Mastercard®Learn MoreLearn More
- Rates & Fees Low Deposit: Capital One Platinum Secured Credit CardLearn MoreLearn Moreon issuer's website
- Rates & Fees Low Deposit: Capital One Platinum Secured Credit CardLearn MoreLearn Moreon issuer's website
- Low Deposit: Capital One Platinum Secured Credit CardLearn MoreLearn More
- High Rewards Rate:
- Beginners:
- Low Deposit:
When your secured card graduates to an unsecured card, your credit line no longer needs to be secured with collateral. So, when you graduate, the initial deposit you made to open the account will be refunded. You may get to keep the same physical credit card, or you may be migrated to another one. Either way, you’ll keep the good credit history you’ve earned with your secured card.
Popular Secured Credit Cards from Our Partners
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People also ask
How long does it take for a secured credit card to become unsecured?
It usually takes 12 to 18 months for a secured card to become an unsecured card, if used responsibly. Exactly how long it takes for a secured card to become unsecured depends on the card issuer, how the account is managed, and whether or not the card even has the capability of graduating in the first place.
Credit card graduation is when a secured card’s security deposit is returned to the cardholder and the...
read full answer by Cameron DiGiovanni, WriterWhat are two downsides of getting a secured credit card?
Two downsides of a secured credit card are the required security deposit and high interest rates. You need to place a deposit to open a secured credit card account, and your credit limit typically equals the amount of the deposit.
Carrying a balance from month to month doesn’t really make sense as a result, since it basically entails paying interest on a loan to yourself. But if you happen to rack up interest charges,...
read full answer by Adam McCann, Financial WriterHow fast will a secured card build credit?
A secured card can begin to build your credit as quickly as one month after you open your account. Building credit is a gradual process, though, and it will likely take 12 to 18 months of responsible use to build a fair-to-good credit score with a secured credit card.
Building Credit With a Secured Card
Using a secured credit card responsibly is the best way to build credit. Secured credit cards are cheaper and easier...
read full answer by Chip Lupo, Credit Card WriterDid we answer your question?
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