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SDFCU is now reporting as "SECURED"

Super Contributor

Re: SDFCU is now reporting as "SECURED"


Jlu wrote:

toi34 wrote:
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. 


Message 21 of 27
Established Contributor

Re: SDFCU is now reporting as "SECURED"

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?

In the garden as of March 17, 2017.

Amex PRG NPSL | Amex Hilton Surpass $6K l Aviator Red $3.5K | Best Buy $6K | Amazon $6K | Chase $5K | BBVA $6K | UFCU $10K | NFCU $15K
Message 22 of 27
Established Contributor

Re: SDFCU is now reporting as "SECURED"

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.

AMEX SPG $30K | Citi TY Premier $20k | PenFed PlatRewards $25k | Barclay Arrival+ 40k | Chase Freedom $20k | BofA AMEX $15k | Discover IT $20k | | NASA Platinum-Advantage $20k | CapOne Quicksilver $15k | Amazon Card $10k |

My Journey from Sub-600s:
Message 23 of 27
Super Contributor

Re: SDFCU is now reporting as "SECURED"

I still have secured card from 9 years Ago. 500 dollars. Even u don't use it. And yes it says secured on my report. If I close it. I'm screwed. As it's my oldest. So manual review does not matter. Even for mortgage. It's just a loan. If you think you know answer why ask question. We told you it does not matter if it says secured or free card. Only thing matters. Did it create payment history. UtilizTion? Anything else you're talking is nonsense. No banker says. You're denied you have a secured card. Please. Get real already.

Message 24 of 27
Established Contributor

Re: SDFCU is now reporting as "SECURED"

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.

In the garden as of March 17, 2017.

Amex PRG NPSL | Amex Hilton Surpass $6K l Aviator Red $3.5K | Best Buy $6K | Amazon $6K | Chase $5K | BBVA $6K | UFCU $10K | NFCU $15K
Message 25 of 27
Super Contributor

Re: SDFCU is now reporting as "SECURED"

First of all if you got a tone from my quote. I don't know how. 2nd I never mentioned you or anyone else. As I said. It's now been many days of answering this and you or someone else keeps coming back to question. If you are op. Many have stAted it does not matter. It's not thT difficult to understand be it new member or not. If you don't believe the advice then thAts on you. But I never made rude jester. Straight facts only. So accept or not. I could care less. Question asked. I looked back where I answered this a while back. You came back with other answer. You are right. This is to help members understand. And if member don't like answer and persist still. Me and others will clarify. It's thAt simple.

Message 26 of 27
Established Contributor

Re: SDFCU is now reporting as "SECURED"

Ok it's all good. thanks 

In the garden as of March 17, 2017.

Amex PRG NPSL | Amex Hilton Surpass $6K l Aviator Red $3.5K | Best Buy $6K | Amazon $6K | Chase $5K | BBVA $6K | UFCU $10K | NFCU $15K
Message 27 of 27