Some of the best secured cards offer cash rewards, flexible deposit amounts, and the chance to
upgrade to an unsecured card (and get your deposit back).
Some of the best secured cards offer cash rewards, flexible deposit amounts, and the chance to
upgrade to an unsecured card (and get your deposit back).
Using your credit products responsibly may qualify you for
an upgrade to an unsecured card.
The ability to
upgrade to an unsecured card is another added bonus you should consider.
After you've shown you can manage credit responsibly, the card issuer may
upgrade you to an unsecured card and return your deposit.
They will review your account after 12 months for eligibility to
upgrade to an unsecured card and a refund of your security deposit.
After six or twelve months of having the secured card, many lenders will let
you upgrade to an unsecured card.
People that use secured cards to rebuild credit have the opportunity to become eligible for
an upgrade to an unsecured card, but it depends on the issuer and whether or not your account is ready for this type of review.
The idea behind a secured card is this: Once you've proven you can manage credit responsibly and pay off your balances, you'll
upgrade to an unsecured card and get your deposit back.
Some of the best secured cards offer cash rewards, flexible deposit amounts, and the chance to
upgrade to an unsecured card (and get your deposit back).