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09-29-2014 05:00 PM
YES it does! ...They started reporting secured about 5 months ago.
It matters not what they report ..secured vs unsecured... it's the same damn thing for scoring purposes. It's like a card that gets closed at consumer's request vs closed at credit grantor's request - it doesn't really matter unless a loan officer is manually reviewing your report and even then it carries little weight.
Obvious they can't comprehend. It does not matter. Maybe after couple years some will catch on. Even in manual review. Payment history trumps what kind of card you got.
09-29-2014 07:28 PM
I hope to apply for mortgage which will certainly be a manual review. I think a secured card will not be favorable if not closed in good standing on the credit report?
09-29-2014 07:31 PM
No cards will be favorable if not closed in good standing. Secured cards are just as real as unsecured cards, the only difference is you are effectively collateralizing the line of credit with secured cards.
09-29-2014 07:41 PM
09-29-2014 09:15 PM
taxi818 please be polite and not rude. I am very new and asking questions for clarity. I have the freedom to ask what I need to. No I do not know the answers, just trying to understand. Thanks for your advice despite your tone. Now I know.
09-30-2014 02:30 AM
10-01-2014 05:29 AM
Ok it's all good. thanks
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