10-03-2012 02:54 PM - edited 10-03-2012 02:56 PM
Just curious if all secured cards report as secured credit card? I just had US bank secured card hit my Equifax today and unfortunately it says "Secured Credit Card" in big bold writing.
Should it even matter to me? I guess I was thinking that lenders might see that and be less inclined to want to grant me credit a year from now.
Also my score went up from 673 to 725 with the deletion of one 25 dollar collection and also I guess because of the new credit.
10-03-2012 03:02 PM - edited 10-03-2012 03:03 PM
I don't know if they all do, but the one I'm an AU on says secured on it, too.
Congratulations on the score jump!
10-03-2012 03:02 PM
USAA Secured Cards don't. I can't speak for any others.
It probably only makes a difference in a manual review of your credit file.
If this is your only open CC, that would sure give you a point increase.
Along the same lines, if that was your only (or most recent) collection, your score would see a boost.
10-03-2012 03:18 PM
Thanks Fuzzybean, I had no idea one 25 dollar collection would drag me that far down. Or maybe it's the opening of the new US Bank Secured that has me up. I have no idea which bumped me up that high, just happy.
10-03-2012 03:30 PM
10-03-2012 03:43 PM
That's good to know, thanks for the info.
I'm wondering what's going to happen with my Repossession falls off next month. That's the last negative trade on my equifax report and the worst of the baddies with a 6000 balance. 725 to 775 maybe? I will check in next month.
10-12-2012 02:43 PM
My Open Sky does not report as "secured" either. I checked all 3.
Starting Score 08/12: EQ 526 | EX 552 | TU 569
Current Score: EQ 613 | EX 574 | TU 632
Goal Score: 700 Club