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dah
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dah
Posts: 2
Registered: ‎04-28-2009
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secured card to build good credit?

Does anyone know of a secured card that does not pull credit and reports to all 3 bureas?
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Creditaddict
Posts: 22,045
Registered: ‎10-23-2007
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Re: secured card to build good credit?

you can't get a credit card without one credit pull.
Fico Scores: EQ- 626 Overstck., TU 696 Walmart, EX 695 Chase (11-05-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
Lowest Limit: Target $200
66 Cards and Counting :smileytongue:
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Epic Contributor
haulingthescoreup
Posts: 28,098
Registered: ‎04-01-2007
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Re: secured card to build good credit?


dah wrote:
Does anyone know of a secured card that does not pull credit and reports to all 3 bureas?

If you want credit, you have to accept that this will be reported, via a credit pull (hard inquiry). That's the whole purpose of inqs.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
dah
New Visitor
dah
Posts: 2
Registered: ‎04-28-2009
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Re: secured card to build good credit?

OK...just wondering......thank you. Im in the process of buying a home. My lender asked me to get at least two secured cards. The two pulls....would they hurt before the cards help?
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haulingthescoreup
Posts: 28,098
Registered: ‎04-01-2007
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Re: secured card to build good credit?

If you don't have any current open revolving (= credit cards) credit at all, you will probably not be penalized for seeking new credit. The FICO scoring formula *wants* you to have some revolving in there.

Have you had revolving credit, i.e., credit cards in the past? If so, which banks? Did you ever "burn" them/ --charge-off, bankruptcy, settled for less than agreed.

I would get with a local credit union that offers CC's right away. They are the most reasonable about working with new creditors. If you absolutely must go with a secured card from a bank instead, look at Bank of America and Orchard.

If you're willing, you can post a summary of your current credit here, and you will get lots of advice (wanted or no, lol.) Post the info from screen 2 of the FICO EQ and TU reports, along with the Credit-at-a-Glance screen.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007

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