@Anonymous wrote:
So I’ve had my unsecured Cap One card for about 4 mos with a CL of $300 (it should move up to $500 by next month) and I’d like to apply for a new CC. Current fico is 655 but I can get pre-qualified for all the big names, Chase, Citi, AMEX, Discover, etc. If I opened a secured card that could graduate, is that considered a downgrade? Should I just wait for my score to boost and apply for another unsecured?
No, it's not considered a downgrade. It's treated like any other credit card in FICO.
Can't get approved for any offers on Discover! I was hoping to at least see an offer for the secured. 
I'd wait......just because waiting for unsecuring is crappy. I kick myself for not waiting a few more months. Disco tells me, after 7-8 months I may unsecure plus reaching the 1 yr. mark before I can app for another card.
If you can wait you save yourself a lot of the hoops you have to jump through. I feel like mine is a downgrade cause when I compare my scores and cards to dh's scores and cards he fared far better than me and my scores are a lot higher.
So here I sit twiddling my thumbs since Oct til June to see if they deem me acceptable to unsecure. My scores are in the 740's but when I app'd they were in the high 5's and low 6's. Had I waited just two months like I did for dh...........
Thanks @Laurachrissy! I can wait... I might just be having an obsessive moment. LOL. 
@Anonymous wrote:Thanks @Laurachrissy! I can wait... I might just be having an obsessive moment. LOL.
This forum will do that to folks 
The upside to going secured is that you have some control over your starting limit. I went secured with USBank because I know they can be stingy with starting limits. I don't mind waiting for it to unsecure, and I'm happier knowing I don't have a pitiful SL. When I do unsecure/graduate (if/when), I know at least what the minimum will be, and it works for me
@SouthJamaica wrote:
@Anonymous wrote:Thanks @Laurachrissy! I can wait... I might just be having an obsessive moment. LOL.
This forum will do that to folks
Them be the facts 😐
@calyx wrote:The upside to going secured is that you have some control over your starting limit. I went secured with USBank because I know they can be stingy with starting limits. I don't mind waiting for it to unsecure, and I'm happier knowing I don't have a pitiful SL. When I do unsecure/graduate (if/when), I know at least what the minimum will be, and it works for me
Good point @calyx but like you pointed out (if/when). If that's gonna bother OP then I'd just quietly step around the corner. It drives me nuts!....and shhhh, I'm not far from there.
If OP's scores may increase in the near future though, I think waiting would be better. My dh's sl were 3k while I'm churning $500.