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I am in the painful process of rebuilding my credit, and I have one credit card. Its an Orchard Bank secured card. I’ve had this card for almost two years and been paying it on time every month. I just found out the bank that issues this card (HSBC) is not offering any credit increases to ANY of there customers at all, I’m a little discouraged. I just applied for Capital One and got denied 🙁 So I guess my credit score isn’t good enough yet for a unsecured card. So I need a secured card that will at least over time up my limit. Any suggestions?

1 Thought on Are there any secured cards that after a period of time will automatically increase your credit limit?
  1. Reply
    October 15, 2011 at 12:13 am

    That secured card is never going to turn into a credit card unless you start using it wisely.
    You are paying an annual fee for nothing.

    With a secured card you need to replace the funds you use each and every month.
    Otherwise it can take decades before it turns into a credit card.

    Once you get a credit card, pay in full each month when you get the statement.
    This is the way to get easy great credit scores.
    Carrying balances and using credit unwisely will not only destroy your credit – it can destroy your life.
    Employers check, so do landlords and insurance companies (you’ll pay more).
    Stop fouling up your life – learn how to use credit wisely.

    Upping your limits will do absolutely NOTHING for your credit on a secured card – not sure how you got that idea.
    Replace the money you originally had on that card today.

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