Q: Is there a secured card that converts to a regular credit card after
paying on time for a year?
A: This will require some leg or "finger" work. There are only a few
issuers offering secured cards compared to regular cards. Call each one
and ask about their policy on upgrading to a regular card. The factors
to do a conversion vary widely and in the current unprecedented market,
many issuers be a reluctant to do conversions after the
first year. Also ask how the secured card is reported to the credit
bureaus. Some flag the card as "secured" while others report it as a
"regular" card.
