Archie Conway, WalletHub Financial Analyst
@ArchieConway
The best secured card that graduates to unsecured is the Bank of America® Unlimited Cash Rewards Secured Credit Card. Bank of America periodically reviews accounts for possible graduation, and it reports to all 3 major credit bureaus to help you build credit history. You also get 1.5 - 2% cash back spent with this card, helping you save money.
Best Secured Cards That Graduate to Unsecured
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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No Credit Check
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Partially Secured
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Rewards
People also ask
Does the Capital One Secured card graduate to unsecured?
The Capital One Platinum Secured (see details, rates & fees) card can graduate to unsecured if you pay your monthly bill on time and otherwise manage your account responsibly. Capital One will periodically review your account for possible graduation, and you will be notified by email if you're eligible.
How to Graduate with the Capital One Platinum Secured (see details, rates & fees) Card
- Make on-time payments: This is probably the most important part of the process. If you don’t pay your Capital One Platinum Secured (see details, rates & fees) bills by the due date, you won’t even be considered for...
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...
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