US Bank secured card graduation

[celestiz]

This is actually old news, but I will mention it for the data points. In May 2021, I was still rebuilding my credit, at the time my credit score was about 596, so I put $300 down and opend a secured card with US Bank. I used the card sparingly, and paid it down several times a month. In November 2022, it graduated to an unsecured card. When it graduated I had a 630 Experian FICO 8 credit score, and it graduated without me asking and with no hard pull. I was only made aware that it graduated when I received a check for my security deposit in the mail.

[sznthescore]

Congratulations on the graduation! 🎉 One of the first I've heard to have it done without requesting and the rumored 650-670 FICO required to do so. Great DP's for other US Bank secured card holders.

[OmarGB9]

Congrats!

[biggie23]

Did they increase the credit limit or did they keep you at $300?

[celestiz]

They kept me at $300, but they are soft pulling my credit report every month, so when I pay off my medical collections, and once the paid Capital One charge-offs fall off my report, they may give me a credit limit increase. I have received offers for the Cash+ and the Triple Cash Rewards cards, but after my recent approvals, I will be gardening for the next 24 months.

[OmarGB9]

I just went back and re-read your post. It's interesting they did it on their own with no HP required, and at a lower score than they would normally approve. 

[celestiz]

I found it interesting as well, but I did have several paid of credit builder loans, a paid off Sofi Loan, and about 8 credit cards with low to no balances when it unsecured.

[TheRedHat]

This is interesting as I, too, have a $300 Secured Cash+ card that's coming up on one year. I'm curious if anything will happen, but I won't hold my breath.

[Boribori]

Mine is also coming up on a year. They said they will review in june. fingers crossed

[Lurker22]

I have 2 secured with them (C+ and Alt Go), one passed 12 months back in October, the other passes it this month and will be eligible to graduate next month, so far the first hasn't graduated .... it'll be interesting to see how long it takes