topic Secured Credit Cards Question in Credit Cards

Secured Credit Cards Question

CountryLivin — Sun, 13 Dec 2015 20:59:55 GMT

Just a question on secured cards. I noticed the other day when looking at CreditKarma, that my Discover IT card now says secured. Will that hurt my scores? It wasn't listed that way before, just this past month it showed up. Also, If I did another secured card (BOA Visa) would that be a bad thing? I was offered the $99/$500 Deal, and I am thnking about it. My FICO score from Discover says 647.

Re: Secured Credit Cards Question

Anonymous — Sun, 13 Dec 2015 21:11:41 GMT

A secured card notation will not hurt your scores. Congratulations on the BoA secured card offer, many on the board have used that card as a way to establish a relationship with BoA.

Re: Secured Credit Cards Question

Anonymous — Sun, 13 Dec 2015 22:16:33 GMT

If you are at 647 you might be out of the secured zone. If you kick the tires at Capital One pre qualifiy options (and some other places like citi) you might be able to get a non secured sub prime card.

Re: Secured Credit Cards Question

Anonymous — Mon, 14 Dec 2015 01:37:44 GMT

@CountryLivin wrote:
Just a question on secured cards. I noticed the other day when looking at CreditKarma, that my Discover IT card now says secured. Will that hurt my scores? It wasn't listed that way before, just this past month it showed up. Also, If I did another secured card (BOA Visa) would that be a bad thing? I was offered the $99/$500 Deal, and I am thnking about it. My FICO score from Discover says 647.

It won't affect your score.