How to Convert a Secured Credit Card to a Rewards Credit Card

If you’ve been demonstrating responsible usage of your secured credit card, you might be thinking of converting to an unsecured rewards credit card.
While secured credit cards are excellent credit-building tools for individuals with limited or poor credit, switching to a rewards credit card can help you earn points or cash back for your purchases, in addition to other perks.
Keep reading to learn everything you need to know about converting your secured card to a rewards card.
What’s a secured credit card?
With a secured credit card, you’ll typically have a lower credit limit and fewer options for rewards and benefits. Lenders are more likely to issue secured cards to individuals whom they deem risky borrowers since they know they’ll be able to claim the deposit if the borrower can’t pay their balance. 
Why would I want to switch from a secured credit card to a rewards credit card?
Unsecured cards don’t require cash deposits the way secured credit cards do and offer higher lines of credit. When you convert your card, your secured credit card deposit will be returned to you. Having a high credit limit can also boost your credit score by helping your credit utilization ratio, which is a comparison of the amount of credit you have available to the amount of credit you’re using.
Many unsecured cards can offer additional benefits such as cash back, rewards on purchases, purchase protection, and travel perks.
How to build credit with a secured card
By demonstrating responsible spending behavior with your secured card, you’ll increase your chances of moving to an unsecured card. Here are a few ways you can do so:
How to switch from a secured card to a rewards card
There are two ways you can switch from your secured card to an unsecured rewards credit card. You can either upgrade with the issuer or close your secured card and apply for a new rewards card.
Upgrade with the same issuer: Upgrading to an unsecured, rewards card with the same issuer is an easy way to transition. You’ll typically receive your secured credit card deposit back and be issued a new card.
Apply with a new lender: If you can’t or don’t want to upgrade with your current issuer, you should shop around for a card that has a low APR, no annual fee, and rewards that fit your lifestyle. Closing your current card and opening a new card might temporarily ding your credit score but the damage should only be temporary.
What credit score do I need for an unsecured card?
While there isn’t a definite number, you should be able to switch cards with a score of 650 or above. Remember: your credit score won’t increase overnight. It’s impossible to guess a timeframe for when your score will go up and by how much. Stay patient and consistent with your credit habits and you’re bound to see your score improve with time.  
Source: iQuanti, Inc.