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05-14-2015, 07:56 AM #1
How Long Until a Bank Changes Your Card to Unsecured ?
Are big banks better or worse at this for customers who are trying to improve their credit?
I have heard some horror stories and even head scratchers where people have auto loans and even a mortgage with the same bank yet they keep them locked into a secured card.
Last edited by Frank C; 05-18-2015 at 08:13 AM.
05-18-2015, 08:11 AM #2
Banks and card issuers usually have their own internal policy on things like that. Their is no golden rule or federal law I know of that limits it to 3, 4, or X amount of years.
06-03-2015, 07:54 AM #3
It could be never if that is the verbage in their terms and conditions. Sometimes they have no obligation to upgrade you to a better card.
08-18-2015, 09:13 AM #4
They do need some kind of set term instead of varying periods from different banks. It seems unfair for consumers with good paying histories.