Can a Citi Secured Card become unsecured?

Question

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.... read full answer

Credit card graduation is when a secured card’s security deposit is returned to the cardholder and the card, in turn, becomes unsecured. Graduation to an unsecured card could occur in as little as 6 months, but it could also take several years. In addition, some secured credit cards won’t graduate no matter how long you have them or how good your account history is. You can always call the card issuer’s customer service line to see if your secured card is eligible for graduation, though.

Secured card issuers may also review your account once or twice a year to evaluate it for automatic graduation. To maximize your chances of automatic secured card graduation, pay on time each month and keep your credit utilization low. But remember: Graduation is never a guarantee.

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Answer 1 · 2021-06-16 07:38:28

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Chip Lupo, Credit Card Writer

@CLoop • 06/16/21 This answer was first published on 06/16/21. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

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Yes, a Citi Secured card can become unsecured as soon as 18 months after the account is opened. You cannot request that the account become unsecured, though, and Citi does not guarantee that it will happen. The best way to improve your odds of graduating to an unsecured card, and thus getting your deposit back early, is to pay your Citi Secured bill on time every month. If after 18 months, the Citi Secured card does not graduate to an unsecured card, you can call customer service and check on the card’s graduation status.

If the Citi Secured card graduates to an unsecured card, you can either keep the existing account open or close the account and apply for a different Citi card, such as the Citi® Diamond Preferred® Card or Citi Double Cash Card. If you decide to keep your newly-unsecured card, Citi may also consider you for a credit limit increase shortly after the Citi® Secured Mastercard® card graduates.

Bear in mind that when a Citi secured card becomes unsecured, it is not considered a new account, so there’s no hard pull on your credit report and no negative effect on your credit score. But if you choose to apply for a new Citi card, your credit will be pulled.

Answer 2 · 2021-08-26 13:39:40

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skbr84, Member

@skbr84 • 08/26/21 This answer was first published on 08/26/21. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

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Ive had this card for 4 years. Never missed a payment, low utilization. I have several high limit unsecured cards and a great score. Each year I get a letter saying they cant graduate account at this time. Ive determined its a scam to keep our deposits.

@ashleylauren0117

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Wow I should’ve read your comment before I wasted a phone call on them. I literally told the operator “this feels like a scam to keep my deposit”. My credit score is over 750 and I haven’t graduated either. Yet I have two other cards with high limits, and a really great credit health. Definitely just going to close my account and get my money back.

Miguel G @MIGONZALEZ64

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Thanks! I have had both Capital One and Discover IT Secured cards and both have graduated and refunded my deposits--and raised my limits quite a bit. I was considering applying for this Citi Secured card, but it doesn't sound like it's helped anyone in this question thread.

Answer 3 · 2023-02- 4

@ashleylauren0117

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Wow I should’ve read your comment before I wasted a phone call on them. I literally told the operator “this feels like a scam to keep my deposit”. My credit score is over 750 and I haven’t graduated either. Yet I have two other cards with high limits, and a really great credit health. Definitely just going to close my account and get my money back.

Answer 4 · 2022-04- 1

Miguel G @MIGONZALEZ64

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Thanks! I have had both Capital One and Discover IT Secured cards and both have graduated and refunded my deposits--and raised my limits quite a bit. I was considering applying for this Citi Secured card, but it doesn't sound like it's helped anyone in this question thread.

Answer 5 · 2022-02-21 03:21:43

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Mike L, Member

@Mj20xc4m • 02/21/22 This answer was first published on 02/21/22. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

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They say you can graduate in as little as 18 months. However, I gave them a $1000 deposit in 2018. Since then my credit score has climbed 120 points and I now hold several premium cards from both chase and amex. Yet Citi still wont graduate me. They can't even give a reason when I call to ask why each year. I agree with the other guys. It's a scam to keep our deposits. Im likely going to cancel and get my cash back instead of waiting anothee 12 months for the same disappointment.

@stanleyswain

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The same thing is happening to me and my wife. They just keep giving us the run around. They even told me that the credit bureau is not sending them the information they requested. I smell рџ’©. I even told them that they are running a scheme to get and hold peopleвЂ™s money.

@ashleylauren0117

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Same thing happened to me! Literally just got off a call with them. It’s a scam for sure to keep our deposits! I want my money back.

Answer 6 · 2023-03-25

@stanleyswain

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The same thing is happening to me and my wife. They just keep giving us the run around. They even told me that the credit bureau is not sending them the information they requested. I smell рџ’©. I even told them that they are running a scheme to get and hold peopleвЂ™s money.

Answer 7 · 2023-02- 4

@ashleylauren0117

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Same thing happened to me! Literally just got off a call with them. It’s a scam for sure to keep our deposits! I want my money back.

Answer 8 · 2022-02-04 04:58:42

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David, Member

@davidf_57 • 02/04/22 This answer was first published on 02/04/22. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

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Mine too has been extended..they have had my $2500 for 3 years

David @davidf_57

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If mine dosnt graduate in Mar 2022, I’m gonna close it.. it didn’t seem to help my credit either way credit score 673 according to them

Indira @indira_a_hall

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Look at the reviews. I haven't heard that anyone has graduated. I have been waiting for years. Pay in full each month and still won't graduate.

Answer 9 · 2022-02- 8

David @davidf_57

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If mine dosnt graduate in Mar 2022, I’m gonna close it.. it didn’t seem to help my credit either way credit score 673 according to them

Answer 10 · 2022-02- 8

Indira @indira_a_hall

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Look at the reviews. I haven't heard that anyone has graduated. I have been waiting for years. Pay in full each month and still won't graduate.

Can a Citi Secured Card become unsecured?

Chip Lupo, Credit Card Writer

Citi® Secured Mastercard®

skbr84, Member

Mike L, Member

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