Sable offers customers to ability to graduate to an unsecured credit card after establishing a credit limit on their secured credit card and using their card wisely for at least 4 months. Some of the key milestones Sable looks at before graduating customers to the unsecured credit card are as follows:
Milestones for graduation*
- On-time secured credit card payments every month
- Transactions of at least $250 on your secured credit card every month
- Credit limit of at least $500 on your secured credit card for the last 4 months
- Monthly payroll direct deposits of at least $500 per month for the last 4 months
- 15+ transactions on your secured credit card per month
*Sable may consider additional factors not listed
Milestones increase the likelihood and speed you become unsecured however Sable does use other factors not listed to determine your path to graduation.
Not all milestones need to be reached, however the more milestones you reach the quicker your graduation may be!
Key factors taken into account when determining your eligibility include:
- Age of secured credit card account
- On-time payments history
- Spend amount and frequency
- Monthly active usage
- Secured credit limit size
- Credit outstanding balance
- Sable bank account balance
- Payroll direct deposit history
Sable determines eligibility based on responsible use of the secured card account. Sable may consider other factors not listed.