The $35 secured card from my local bank actually got me a real limit

I opened a secured card with Wells Fargo 8 months ago with $300 down, figuring it was just a stepping stone. Last week they auto graduated it to a $1500 unsecured limit and returned my deposit after 7 on-time payments. I thought you had to use those online builder programs or wait 2 years, but my branch manager at the one on 5th said consistent small balances work better than carrying a lot. Has anyone else had a secured card convert faster than they predicted?

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1 Comment

ray_martinez824d agoTop Commenter

Bet on the small fish, not the whale. I put $200 down on a Capital One secured card and kept it under 10% each month, just buying gas and paying it off. Nine months later they bumped me to $1,000 and gave my cash back too. Carrying a big balance makes you look risky, like you can't handle the limit. Small steady payments say you're boring, which banks love. That Wells Fargo manager gave you solid advice, most people just don't ask.