New Contributor
Posts: 124
Registered: ‎06-28-2007

? about secured CCS again please

For the credit limit if I deposit a higher amount. Does it show that on my CR and if you have a higher CL does it mean anything point wise or for any lenders looking at it? Would I be better putting on $2000 say compared to $300 on either an orchard bank or bank of america? TY
Valued Contributor
Posts: 2,374
Registered: ‎03-15-2007

Re: ? about secured CCS again please

Assuming it reports on your CR, yes, higher limits are better for your FICO score.

Of course, if you take a broader view of your financial situation, one must ask the question of whether there are better things you could do with $2000 than put it up for collateral for a larger secured card. If not, then two $1000 secured cards would probably help your credit score over time more than one $2000 card.
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in a credit-scoring postnuclear Stone Age...
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