Secured card question

[Anonymous]

Hi - so I have good credit around 700.  No negatives just short credit history. I have a secured card with Citi and a secured card with Bank of America. I also have many normal cards like American Express, chase, with decent credit limits $10k+. 

For or some reason I haven’t been able to get approved for Citi or Bank of America. I’ve had the secured cards about a year. I tried to graduate the Bank of America card and was denied. Reason is that I don’t have enough securities with Bank of America (or something like that don’t remember exactly what the letter said). Citi I will wait a bit but here’s my question -

my my credit score will jump up in a few months when a slew of inquiries fall off and when two balances I have are paid off which will lower my utilization. 

Will i I be able to then just apply for a normal card with Bank of America and Citi despite the fact I have a secured card with them? What are your thoughts on this ? Want to just get a regular card but I feel like the secured card gives me a stigma with them.

[Anonymous]

You will surely see a score increase after the months pass when you pay down utilization. The score won't increase because inquiries fall off as during the next few months, as they would be already over 12 months old. If you have inquiries that will become >12mo age during this period, then you will take less hit from the inquiries. Longer credit history will also positively affect your score.

You are able to apply with them normally even if you have secured cards with them. Right now it seems that you just need more payment history.

[Anonymous]

Citi requires 18 month for their secured card to graduate, Bank of America, usually 1 year. With your scores I would think you would graduate soon. I would probably give BOA a couple more months, then close the acct if no graduation. I'd wait the 18 months for Citi. You could always apply for the regular card, once secured is closed, or even before if you desire.