Secured Card Question????

[eparker]

Has anyone ever received a secured card and a score increase?  I am asking as soon as it hits your credit report.  My credit union does not do a inquiry.  Everyone is approved and it appears as a secured card on CR.

I read on here someone getting a incresae in score after getting a secured card.  Just checking.  I was thinking about this card anyway.  My credit union just started it again.  My credit union is called Resource One, if anyone was wondering.....

Thanks

[JM-AM]

In my personal case it did improve my score by 3 points when was 1st reported on EQ. Tu did not have any increase for 4 months. Ex did not increase for 2 months. One thing to note is my secured card did not report as secured, whether that makes a difference or not I really do not know. May be some one with more experience and knowledge will chime in with better information for you. Good Luck

[Anonymous]

Which credit union it is?, I'm interested since it doesn't do inquiry

[eparker]

Ok...thanks......credit union is Resource One.  I bank there personally, and I spoke to a rep abouot a week ago.  She told me they had just started the card about 2-3 weeks ago.  She said, they dont do a credit check.  Also after a year I believe she said I could apply for unsecured.  So I think it may not automatically become unsecure.  She told me once I tried to unsecure after the year, then an inquiry would take place.

Hope that helps @ nelsondavid...

[Wolf3]

Sounds like a good deal.

The no inquiry helps with the score, but how the new card changes your score will mostly depend on how it changes your AAoA, Utilization and number of accounts.  .It should help your score grow over the next year.