What happens after the CD matures at two years. I know the cards do not graduate. If you take the money out after the two years, does the credit line close?
Yes. The card will close when you remove the money. This card isn't designed to be a long term card. You use it for 2 years and by then you should qualify for an unsecured card. You then close the secured card. The two years of good payment history will stay on your credit report for 10 years after you close it, so closing the card is not a big deal.
I'm at that phase right now, but be aware the certificate will auto-renew fro two years if you don't instruct otherwise. USAA is good, they sent me an email notice telling me I have until 10 days after maturity (and tellig me the date) to close the CD.
I'm just waiting for one more payment reducing utilization to hit my score before I try for the unsecured card.