topic Re: Secured CC Question in Credit Cards

Secured CC Question

CreditDrama85 — Wed, 19 Dec 2007 15:16:58 GMT

I went over the cl on my secured CC by $5 when my statement closed (due to interest); otherwise i have had an excellent history.

do you think i will still be able to "graduate" to an unsecured card? will this be held against me?

Re: Secured CC Question

Creditaddict — Wed, 19 Dec 2007 15:39:39 GMT

As long as you didn't get hit with a late charge or over the limit charge, the computer probably won't pick up that you did anything wrong on the account.

Re: Secured CC Question

Anonymous — Wed, 19 Dec 2007 15:44:35 GMT

Who is the card with. I know with my regular card they do not count it as OL as long as it is caused by finance charges and is brought down before the next statement date. I would call. Keep in mind, banks don't like to see high uti even on secured cards.

Re: Secured CC Question

CreditDrama85 — Wed, 19 Dec 2007 16:24:29 GMT

no, i did not get an overlimit fee and i have never been late. the card is with WF. it only has a 500 cl so i can easily pay it off a few months before my review period.

does this help? what do you guys think?

Re: Secured CC Question

Anonymous — Wed, 19 Dec 2007 16:40:32 GMT

Even though FICO scoring gives a snapshot of your credit at one point in time, banks generally reveiw 6 mos at a time.

Re: Secured CC Question

Red1Blue — Wed, 19 Dec 2007 17:18:55 GMT

Normally CC secured or otherwise give few days grace before they charge you late. I am not sure how many days that is allowd. It could be different from one issuer to another. It happned to me once are twice and they said it is ok. However you never want to bring your balances to that level as it will hurt your fico score bad. Try to pay the balance before the statment closes so it wont report to CR. That way you can get the best of the both worlds. Also if possible ask them to increase your CL. My CU would increase the Limit even though it is secured card with out additional security deposit.

Re: Secured CC Question

dangphuocloc72 — Wed, 19 Dec 2007 19:24:04 GMT

credidrama85 wrote :

" no, i did not get an overlimit fee and i have never been late. the card is with WF. it only has a 500 cl so i can easily pay it off a few months before my review period.

does this help? what do you guys think? "

why you needs few months to pay off . pay it as soon as you can , your score will go up next month .

Re: Secured CC Question

Anonymous — Wed, 19 Dec 2007 19:42:15 GMT

dangphuocloc72 wrote:

credidrama85 wrote :

" no, i did not get an overlimit fee and i have never been late. the card is with WF. it only has a 500 cl so i can easily pay it off a few months before my review period.

does this help? what do you guys think? "

why you needs few months to pay off . pay it as soon as you can , your score will go up next month .

Because Dang, eveyone is in a different position to pay or not.