Member
CMS70
Posts: 8
Registered: ‎01-05-2012
Secured Credit Cards not reporting as "secured" and not pulling a hard inquiry...

I am wanting to buy a house later this year, to help raise my score I am looking for a secured credit card with the following;

 

1)  one that will not pull a hard inquiry (soft at best) 

2)  Reports to all three credit bureaus as a regular credit card (not putting "secured" in the description).

 

I know the 'secured' issues will not effect my credit but could cause raise an eyebrow if my report is hand reviewed.

 

If anyone has first hand knowledge of one that fits, please post.

Valued Contributor
beb86
Posts: 1,117
Registered: ‎10-31-2011
Re: Secured Credit Cards not reporting as "secured" and not pulling a hard inquiry...

on the HP you are looking for credit so it will be a HP as it rightfully should be...as for reporting as secured on your CRAs I havent seen any secured cards report anything different than as a normal CC would. 

 

welcome to the forums!!!!

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Blogger
HiLine
Posts: 2,836
Registered: ‎10-19-2012
Re: Secured Credit Cards not reporting as "secured" and not pulling a hard inquiry...
Valued Contributor
jsucool76
Posts: 2,770
Registered: ‎12-11-2011
Re: Secured Credit Cards not reporting as "secured" and not pulling a hard inquiry...
1) the only (secured) card i know of that does not do a HP is with either dcu or sdfcu (cant remember which)
2) the only secured card that i know of that doesnt report as secured is the capital one secured card (which will pull all 3 reports)
Wallet: Capital One Cash Rewards 3500CL, Wells Fargo Cash Back College Visa: 900CL, Paypal Smart Connect: 1286CL, Walmart Discover: 2000CL, UPromise Mastercard: 1000CL, Chase Slate: 500CL, Discover IT: 2000CL, Citi Forward: 1500CL, Bank Of America Student Travel Rewards: 700CL
Member
CMS70
Posts: 8
Registered: ‎01-05-2012
Re: Secured Credit Cards not reporting as "secured" and not pulling a hard inquiry...

Thanks beb86 for you response...There are quite a few that advertise 'no credit check' (like Applied Bank & Horizon Gold) and a few that don't add the description of "secured account" to their reporting but I am looking for a company that does both.

Valued Contributor
beb86
Posts: 1,117
Registered: ‎10-31-2011
Re: Secured Credit Cards not reporting as "secured" and not pulling a hard inquiry...

keep in mind that inq have very very little bearing when obtaining a mortgage and at most will require a LOE. how is your credit profile and why are you looking at a secured CC? I would stay away from horizon gold...When I got my mortgage I had like 15 hard inq and I have a cap1 secured which doesnt report

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Senior Contributor
Wolf3
Posts: 3,198
Registered: ‎01-24-2010
Re: Secured Credit Cards not reporting as "secured" and not pulling a hard inquiry...

CMS70 wrote:

I am wanting to buy a house later this year, to help raise my score I am looking for a secured credit card with the following;

 

1)  one that will not pull a hard inquiry (soft at best) 

2)  Reports to all three credit bureaus as a regular credit card (not putting "secured" in the description).

 

I know the 'secured' issues will not effect my credit but could cause raise an eyebrow if my report is hand reviewed.

 

If anyone has first hand knowledge of one that fits, please post.


Do you have no major credit cards?  That is about the only way this will help your credit score.

 

Capital Bank Open Sky CC fits your criteria,   It costs $50 AF and has not grace period ( so don't use it much or pay it quickly as you go).

Blogger
HiLine
Posts: 2,836
Registered: ‎10-19-2012
Re: Secured Credit Cards not reporting as "secured" and not pulling a hard inquiry...

CMS70 wrote:

Thanks beb86 for you response...There are quite a few that advertise 'no credit check' (like Applied Bank & Horizon Gold) and a few that don't add the description of "secured account" to their reporting but I am looking for a company that does both.


I don't think such a card exists.