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Secured card graduation question

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Daare2dreeam
Contributor

Secured card graduation question

I have a couple of secured cards and have recently been denied for unsecured cards and received some additional secured card offers instead. I understand that most of the bank secured cards can eventually graduate after one year. My question is: is there any relation between the intial deposit amount on your card and the potential CLI you receive once/if your card graduates?

 

I usually cannot afford to put down large deposits and often just do the minimum, Does my small deposit influence the banks decision on what CLI to give or is it solely based on how I use the card and my current credit score/report at time of graduation?

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gdale6
Moderator Emeritus

Re: Secured card graduation question

How much you run through the card and your payment history are much bigger factors in the CLI at graduation. I would cap a secured card at 500. I used to run 2.5K thru a 500 unsecured Cap-1 account monthly you just have to make payments more often.

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