Secured credit card to get even with no credit score

[JM-AM]

Orchard reports to all CRA's. They also do not say they are secured in any of the remarks. 

[Anonymous]

Hi pretzel. Your name is making me hungry!

I'm not entirely sure if Orchard Bank does report to all three major credit bureaus, but I know that Public Savings Bank does report their secured Visa credit card to all three major credit bureaus each month. I know that they don't check your credit either.

It's a win/win situation with them.

[JM-AM]

When Orchard reports it shows up as HSBC on the reports. It has no indication at all that it is a secured card. 

Public savings is also a secured card that reports but can "NEVER" be upgraded to unsecured card. Also it does show it is a secured card on reports.

Showing secured or unsecured on CRA's has no impact on scores, but it does have an impact when lenders review your CRA's.

Good Luck

[Wolf3]

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@JM-AM wrote:

When Orchard reports it shows up as HSBC on the reports. It has no indication at all that it is a secured card. 

Public savings is also a secured card that reports but can "NEVER" be upgraded to unsecured card. Also it does show it is a secured card on reports.  NOT TRUE

Showing secured or unsecured on CRA's has no impact on scores, but it does have an impact when lenders review your CRA's.

Good Luck

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I have secured cards from both.   Both report to all 3 credit bureaus.   Neither show as secured cards on the reports.

[Anonymous]

Though not exactly what you were asking. My response would be to get with a credit union and start with a secured line of credit vs a CC. Typically interest rates will be far less as well as being able to grow beyond most CC limits. My credit union started with a $500 min for a line of credit.

[Wolf3]

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@Anonymous wrote:

Though not exactly what you were asking. My response would be to get with a credit union and start with a secured line of credit vs a CC. Typically interest rates will be far less as well as being able to grow beyond most CC limits. My credit union started with a $500 min for a line of credit.

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What was the interest rate on the secured card you got?

[Anonymous]

It's been so long now I forgot exactly but it was in the single digits I remember that much.

[Anonymous]

And it wasn't a card it was a LOC Line of credit.