 TITLE: How Secured Credit Card Deposits Work CONTENT: When Do You Get Your Secured Credit Card Deposit Back?\n------------------------------------------------------\nIt's reassuring to know that your secured credit card deposit is refundable. But exactly when will you get the money back? In most cases, your security deposit will be refunded once your account balance is paid off and the account is closed, or when your secured credit card is converted to an unsecured credit card. Review the card's terms and conditions for the issuer's rules about when you can get your deposit back.\nEven if you don't plan to use your secured credit card anymore, there may be good reason not to close the account. Closing a credit card account could increase your credit utilization ratio, the amount of available credit you're using, which can hurt your credit score.\nInstead of closing the card, see if you can transition to an unsecured card with the same credit card issuer. For instance, some issuers will automatically offer you an unsecured credit card after you've made on-time payments on your secured card for 12 months. Others require you to request an unsecured card. Once you've transitioned to an unsecured card, the card issuer will refund your security deposit, minus any outstanding fees. END