Freefall wrote:Cant add too much to the OP question except Ive had their secured product for 2 years now and have been VERY happy with their product and service. I just wish it didnt report "Secured" on the CR's
Freefall: Funny you mentuon that. That is one of my only complaints against their secured card, I was told by my banker that it would not report as secured and yet it did. I don't think it mattes whether it reports secured or unsecured, however someone far wiser will surely weigh in on this. In fact, my banker had very little accurate information about the secured card...however their knowledge and understanding of literally every other banking product I have used with US Bank has been outstanding. If they charge you that Af for year two call for a graduation to an unsecured card. I switched at two years only to find out I could have switched at 1 year. Good luck!
Gypsy82 wrote:
Freefall wrote:Cant add too much to the OP question except Ive had their secured product for 2 years now and have been VERY happy with their product and service. I just wish it didnt report "Secured" on the CR's
Freefall: Funny you mentuon that. That is one of my only complaints against their secured card, I was told by my banker that it would not report as secured and yet it did. I don't think it mattes whether it reports secured or unsecured, however someone far wiser will surely weigh in on this. In fact, my banker had very little accurate information about the secured card...however their knowledge and understanding of literally every other banking product I have used with US Bank has been outstanding. If they charge you that Af for year two call for a graduation to an unsecured card. I switched at two years only to find out I could have switched at 1 year. Good luck!
Not wiser, but a lot creakier and greyer. 
Secured vs non-secured has no effect on your scores.
Many people worry that other lenders will get all sniffy when they see "secured" on your reports.
My own feeling is that hey, we all have to start/ re-start somewhere, and lenders are certainly familiar with all the things that consumers have gone through over the last 3-4 years. I've never seen convincing evidence that a lender has gotten sniffy about the presence of a secured account. (It does seem that if all you have are a bunch of $300-$500 cards, they're often reluctant to be the first to take you up to $1K.)
If a secured card will help you establish/ re-establish your credit by providing month after month of clean credit history, then I think they're worth it. I don't see much point in being defensive about the presence of a secured card on your reports. From what I've read here on the forums, lenders have seen far, far worse. 
haulingthescoreup wrote:
Gypsy82 wrote:
Freefall wrote:Cant add too much to the OP question except Ive had their secured product for 2 years now and have been VERY happy with their product and service. I just wish it didnt report "Secured" on the CR's
Freefall: Funny you mentuon that. That is one of my only complaints against their secured card, I was told by my banker that it would not report as secured and yet it did. I don't think it mattes whether it reports secured or unsecured, however someone far wiser will surely weigh in on this. In fact, my banker had very little accurate information about the secured card...however their knowledge and understanding of literally every other banking product I have used with US Bank has been outstanding. If they charge you that Af for year two call for a graduation to an unsecured card. I switched at two years only to find out I could have switched at 1 year. Good luck!
Not wiser, but a lot creakier and greyer.
Secured vs non-secured has no effect on your scores.
Many people worry that other lenders will get all sniffy when they see "secured" on your reports.
My own feeling is that hey, we all have to start/ re-start somewhere, and lenders are certainly familiar with all the things that consumers have gone through over the last 3-4 years. I've never seen convincing evidence that a lender has gotten sniffy about the presence of a secured account. (It does seem that if all you have are a bunch of $300-$500 cards, they're often reluctant to be the first to take you up to $1K.)
If a secured card will help you establish/ re-establish your credit by providing month after month of clean credit history, then I think they're worth it. I don't see much point in being defensive about the presence of a secured card on your reports. From what I've read here on the forums, lenders have seen far, far worse.
+1 
Very wise words.
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