I currently have a secured credit card with Bank of America. When I opened the account, I was told that after about six months of responsible use, I might be eligible to upgrade to an unsecured (regular) credit card.
Switching from insured credit to regular credit
byu/WrongOriginal118 inpersonalfinance
Posted by WrongOriginal118
3 Comments
Did you ask the bank about this?
You mare a statement. Is there a question in there? Are asking us, random internet strangers, to speak on behalf of BoA?
Yes, what you’ve stated here sounds right. Banks issue secured cards to people they don’t yet trust enough to loan money out to.
Usually it takes at least 6 months (often 12 months) to graduate from a secured card to an unsecured card. That may vary depending on your habits and overall profile.