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Valued Contributor
JM-AM
Posts: 3,303
Registered: ‎06-09-2010
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Re: Florida that doeRe: Secured credit card to get even with no credit score

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

Good Luck
May all your dreams and wishes become a reality!
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CreditDarling007
Posts: 8
Registered: ‎09-15-2010
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Re: Florida that doeRe: Secured credit card to get even with no credit score

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.

Valued Contributor
JM-AM
Posts: 3,303
Registered: ‎06-09-2010
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Re: Florida that doeRe: Secured credit card to get even with no credit score

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

Good Luck
May all your dreams and wishes become a reality!
Senior Contributor
Wolf3
Posts: 3,198
Registered: ‎01-24-2010
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Re: Florida that doeRe: Secured credit card to get even with no credit score

 


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


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

 

New Member
KColston
Posts: 8
Registered: ‎04-11-2008
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Re: Secured credit card to get even with no credit score

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.

Senior Contributor
Wolf3
Posts: 3,198
Registered: ‎01-24-2010
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Re: Secured credit card to get even with no credit score

 


KColston 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.


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

 

New Member
KColston
Posts: 8
Registered: ‎04-11-2008
0

Re: Secured credit card to get even with no credit score

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

New Member
KColston
Posts: 8
Registered: ‎04-11-2008
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Re: Secured credit card to get even with no credit score

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


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