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Registered: ‎08-13-2017
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Secured Card CL

Does the amount deposited on a secured credit card account make any difference with your FICO score?
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Re: Secured Card CL

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Re: Secured Card CL

The amount deposited is not reported   The credit shows up just like any other credit card in the scoring algorithms, no reference to it being secured. 

High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727 FICO Simulator 2014: $20k balances = 812 FICO.
March 2017 $20k on $300k 6% util EQ 824 TU 824 EX 815

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Re: Secured Card CL

[ Edited ]

NRB525 wrote:

The amount deposited is not reported   The credit shows up just like any other credit card in the scoring algorithms, no reference to it being secured

Are you sure that there is no reference in a credit report to a card being secured?  I always thought some (perhaps many cards) are listed on one's report as secured (if indeed they are).


That's a different question of course from whether FICO takes that data field (secured card vs. unsecured) and uses it to affect a person's score.  In that I think everyone is agreed: secured cards are treated the same as unsecured.

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