If you are starting or are trying to repair your credit, a secured credit card may be the way to go. When your credit history has improved, and you're ready to apply for an unsecured credit card, the period spent with a secured card is entirely up to you. The length of time you keep a secured credit card is determined by your account activity, how much you use the card, and whether or not the card's issuer offers to convert your account to an unsecured one.
How Long Will I Take to Improve My Credit Score
if I Use a Secured Credit Card?
A secured credit card might be a great way to improve if you are starting in the credit world or have a low credit score. If either applies to you, you won't be approved for a regular unsecured credit card. A secured credit card applicant must put money down as collateral for the credit limit.
Raise your credit rating.
Secured credit cards are used the same way as unsecured ones; they allow you to make purchases and pay off your monthly balance. Make sure the secured card issuer you choose discloses your payment history to at least one of the major consumer credit reporting agencies before applying (Experian, TransUnion, and Equifax). When you apply for credit or a loan in the future, lenders will look at your credit report and credit score.
The Best Way To Maximize Your Credit Is To Use It 
With timely payments and a positive payment history, you may soon be approved for an unsecured credit card with a greater limit and better perks. If you open a new account with a bigger credit limit and use only a portion of it, your credit usage will increase. That's useful because how much of your available credit you use accounts for a sizable chunk of your credit score.
The purpose of a secured credit card is to create a track record.
Getting a secured credit card isn't a magic bullet for improving credit. Maintaining a low amount and a history of on-time payments is essential while using a secured credit card. Your credit score should rise as a result of these actions.
Though the specifics of your credit goals will vary from person to person, keeping tabs on your report and score is a good place to start. Access your Experian report and FICO® Score free with Experian's credit monitoring service.
Should I cancel my secured credit card once my credit history has been established?
It's natural to want to get rid of the secured credit card once you've improved your credit score and no longer need it. Given that it has accomplished what it set out to do, it is the correct time to move on. Wait a minute!
If you have had a secured credit card for a while, your credit limit may increase after a specified period. If you make a particular number of payments on time, certain credit card issuers may automatically upgrade your card to an unsecured version. You will receive your money back and can immediately use your new, unsecured card.
Credit Card Application
You can apply for an unsecured credit card to see whether you are approved if this has yet to happen and you're keen to switch to one. If you can't, keep the secured card and keep working on raising your credit score; then, when you're ready, apply for an unsecured card.
Having to pay penalties for late payments
Even if you open an unsecured account, you may still want to keep the credit line open to retain that accessible credit because it affects your credit utilization ratio.
It's also a good idea to check your current balance and any applicable fees. There is no yearly charge and no late payment fees associated with a secured credit card. A better option could be to look for a card that doesn't impose an annual fee if you're already paying one.
Close a Secured Card the Right Way
Changing secured credit card providers is optional when you've outgrown your current one. Examine your account activity to see if you qualify for a switch to an unsecured account with your existing issuer. Keeping your balance low, paying your obligations on time, and having verifiable income are all factors that can increase your chances of acceptance.
