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My Graduation Request Letter

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My Graduation Request Letter

Hi all Just thought I'd share what I'm sending to SDFCU. Please share any insights/advice you may have. Thanks in advance!
-------- Hello,
I am writing to request my secured SDFCU Visa be graduated to an unsecured visa.
As you may know, my credit history with SDFCU is spotless. Though my past foibles have tainted my credit report, I have successfully maintained my most recent accounts and financial dealings.
With the addition of my daughter to my family, I am finding my credit needs have also increased. Rest assured I am currently tending to the rectification of my records with the goal of improving my credit-worthiness as a whole. Furthermore, my families income has increased substantially since I initiated my banking relationship with SDFCU.
I have efficiently managed to pay all my current accounts effortlessly and on time, so I do not foresee any problems handling the responsibility of carrying the added unsecured card as I would greatly benefit from its advantages.
If you need more information from me to grant my request, please contact me directly or via email. I look forward to hearing from you.

Message 1 of 7
Established Contributor

Re: My Graduation Request Letter

In my opinion - it sounds kind of beg-y and may have little effect on the graduation of the card. That said, you miss 100% of the shots you don’t take.

Are your reports, utilization, and scores in order as such that a graduation is appropriate. You’d hate to have them review your report only to see high utilization and not much score movement, for example.

Good Luck!
Personal Credit -
AMEX: Platinum, Green, Cash Magnet, Schwab Investor
PNC: Cash Rewards, Points
NFCU: Flaghship Rewards, Cash Rewards, More Rewards, CLOC
PSECU: Founders
BB&T: Spectrum Cash Rewards
CapOne: Quicksilver
Discover: IT Chrome, IT
Synchrony: PayPal 2%, PayPal Credit
Barclays: Uber
PenFed: Power Cash Rewards
Store Cards: Target
AU Cards: Citi Rewards+

Business Credit-
AMEX: Blue Business Plus, Amazon Prime, Simply Cash Plus
Message 2 of 7
Valued Contributor

Re: My Graduation Request Letter

IMO, too much personal info. Keep is short and simple, to the point. 



Message 3 of 7
Established Contributor

Re: My Graduation Request Letter

Too much. Short and to the point. Are you not able to contact them via phone to ask or online secured message??
January 2020
Experian Fico 8. 677
Transunion Fico 8. 690
Equifax Fico 8. 699

Capital one QS. $600
Credit one. $300. (Soon to close )
Capital one QS1. $2250
Discover IT Cashback. $11,500
PNC cash rewards signature Visa. $12,500
Chase SW rapid rewards signature visa $6900

All cards opened between Oct 2018. - Nov 2019

Income varies. $60,000 - 80,000
Message 4 of 7
Community Leader
Super Contributor

Re: My Graduation Request Letter

@CreditSweeper wrote:
Are your reports, utilization, and scores in order as such that a graduation is appropriate. You’d hate to have them review your report only to see high utilization and not much score movement, for example.

^^^This is the most important part.


So, if you havent sent email yet, as others said, redo so it's concise and to the point. 

And kudos to you for getting back on track with your credit profile. 

REVISED GOAL: Garden ‘til Dec 2020 — 0 inquiries

Previous Goal: Garden til APR 2020 (extended) and
800 Club (accomplished)

DEC 2019: EX 816, TU 820, EQ 810
DEC 2018: EX 777, TU 783, EQ 799
DEC 2017: EX 775, TU 778, EQ 769

|| NFCU CashRewards $30K || AmX Cash Magnet $30K || Discover IT $22.2K || Macy's $20K || NFCU CLOC $15K || NFCU Platinum $12.5K || AmX ED $11.5K || CitiCostco $7K || CitiDC $6.3K ||
Message 5 of 7
Established Contributor

Re: My Graduation Request Letter

I don't think there's anything wrong with what you wrote, per se, but there is a lot in it that a bank wouldn't be concerned with. The three things that matter to them are profit, cost, and risk. And maybe customer loyalty/satisfaction (depending on the bank). You simply want to show that the risk is lower than it appeared when you opened a secured card. I would trim it to something like this: "I am writing to request that you convert my secured card to the unsecured version. Since opening the card, I have made every payment on time for X months, usually paying my card off in full each month [if true]. My balance has never been higher than X. During this same time, my family's income has risen from X to Y. I appreciate your faith in issuing the secured card to me last year [or whenever]. I value my relationship with your company and hope to maintain and extend it for many years in the future. Sincerely, [your name]."

JMO. Either way, good luck!

FICO 8 scores are deceptively high. My profile is young with a lot of new accounts and even more inquiries from 2019. The Barclay AU card is not on TransUnion; and, Equifax has some old positive accounts from 2011 that are not on the other two. That is the reason for the variation in scores. No derogs. Over 5/24 until fall 2021.

Authorized user / Corporate / Auto loan

Closed but still on reports: ExxonMobil, $950, 10/08-02/11 (Equifax only) | Citi secured, $200, 045/19-09/19 | Capital One secured, $300, 04/19-08/19 | My Jewelers Club, $5,000, 05/19-08/19 | Green Dot Primor, $300, 05/19-08/19 | Self Lender secured $500 loan, 04/19-01/20 | Unsecured personal loan from Coastal, $1,000, 06/19-08/19.

Goals: Late 2020 - Ducks Unlimited card; scores in high 700s with inquiries aging. Long-term goal - Prime rate mortgage; able to qualify for most standard credit products.
Message 6 of 7
Community Leader
Mega Contributor

Re: My Graduation Request Letter

I dont see why letter is even necessary because if they graduate their secured cards, it's an automated process that can seldom be influenced by human being (sure, it's possible, but very unlikely).
If you think that it might work because they are a CU, not a big bank, this particular CU is bigger than a lot of banks. It's not mom and pop shop, so I really would not expect warmth and human touch.

If they dont graduate secured cards, then it's in vain, anyways.

Working with the assumption that they do, it would probably be just as helpful if you give them a call and find out what's preventing your card from graduation to unsecured.
If you have to wait a certain number of months before they will consider it, and that has passed, there is some kind of condition that hasn't been met yet. If you knew what it was (utilization, new accounts, negative etc), you'd know what you need to address.

Good luck and I hope it graduates quickly!
Message 7 of 7
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