topic Secured Vs. Unsecured? in Credit Cards

Secured Vs. Unsecured?

Anonymous — Mon, 05 Oct 2015 03:23:54 GMT

Heyy guys,

Quick question.

I do not have the best credit:

EQ - 469 1/18/15
EQ - 536 9/30/15

TU - 487 1/18/15
TU - 528 9/27/15

EX - 476 1/18/15
EX - 503 10/1/15

And I am looking into getting a new CC. Either the Wells Fargo Secured Card or OpenSky.

Wells Fargo shows up as unsecured on a credit core and the opposite for OpenSky.

I currently only have one other card that's fully in my name. So, which would be better for me and rebuilding my credit?

THANKS!

Re: Secured Vs. Unsecured?

Anonymous — Mon, 05 Oct 2015 04:10:24 GMT

I have a Wells Fargo Secured card and it is listed as "secured" on the credit reports, but the Wells Fargo card does unsecure after a year or so.

Re: Secured Vs. Unsecured?

Anonymous — Mon, 05 Oct 2015 04:13:05 GMT

@Anonymous wrote:
I have a Wells Fargo Secured card and it is listed as "secured" on the credit reports, but the Wells Fargo card does unsecure after a year or so.

My Wells Fargo also says secured.

The only secured I have that doesn't say secured is Navy.

Wells Fargo will pull Experian.

I have six secured cards lol.

Re: Secured Vs. Unsecured?

takeshi74 — Mon, 05 Oct 2015 13:19:54 GMT

@Anonymous wrote:
I currently only have one other card that's fully in my name. So, which would be better for me and rebuilding my credit?

It's not the card that matters but your management of the card and how that impacts your reports. You may want to consider secured cards that don't require a credut check.

Re: Secured Vs. Unsecured?

Anonymous — Tue, 06 Oct 2015 01:27:03 GMT

I just recently closed a DCU secured card (Digital Federal Credit Union). They do not report secured; however, they will pull your credit twice - once for membership and once for the CC.