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Secured Deposit CC & down the road refund?

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    Secured Deposit CC & down the road refund?

    I am curious if anyone can share their experiences with any secured CC's they have had or currently have.
    My question this:
    Lets say after making a $1000 deposit for a secured CC. You make every payment on time and paid in full each month.
    -Do they ever move you to a unsecured status?
    -Has anyone ever had a problem getting their secured deposit back?
    -Is it considered bad to close this account if that is the only way to get your secured deposit back?

    Please share your experience whether good or bad....

    TY
    *Filed Chp 7 bk 10/03/07 *DISCHARGED 2/4/08!!
    CLOSED 3/24/08 *10-14-08
    FUTURE HERE WE COME

    #2
    If you have a secured card by your own money, I would think you could get a cash advance for at least that amount then close it. You ask the wrong person for adivice on credit cards. I shall never own one again. 'Hub
    If I knew it all, would I be here?? Hang in there = Retained attorney 8-06, Filed 12-28-07, Discharge 8-13-08, Finally CLOSED 11-3-09, 3-31-10 AP Dismissed, Informed by incompetent lawyer of CLOSED status, October 14, 2010.

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      #3
      If you make timely monthly payments a bank might make your secured credit card a garden variety unsecured card and return your secured savings account - some banks after two years, others after three years.

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        #4
        thanks for the replies.
        if anyone has anything to add, feel free.
        regards
        BH
        *Filed Chp 7 bk 10/03/07 *DISCHARGED 2/4/08!!
        CLOSED 3/24/08 *10-14-08
        FUTURE HERE WE COME

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