If the lender hasn’t converted it to an unsecured card by now, it’s time to move on. Call the issuer and give them one last chance to covert it. If they do not, try opening a new unsecured card with another lender.
Once you are able to do so, you may want to think about closing the secured card simply to get away from the annual fees. Also, you’ll get your deposit back.
Closing the secured card altogether, however, isn’t the best scenario because closing credit card accounts hurts your credit scores (in the first place, because you lose the positive credit history if you close the card). Hopefully the issuer will convert the secured card to an unsecured card, increase your credit limit, and return your deposit. That is the best outcome.
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