topic Re: Secured Credit Cards not reporting as "secured" and not pulling a hard inquiry... in Credit Cards

Secured Credit Cards not reporting as "secured" and not pulling a hard inquiry...

CMS70 — Sun, 06 Jan 2013 23:47:18 GMT

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.

Re: Secured Credit Cards not reporting as "secured" and not pulling a hard inquiry...

beb86 — Sun, 06 Jan 2013 23:54:55 GMT

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!!!!

Re: Secured Credit Cards not reporting as "secured" and not pulling a hard inquiry...

HiLine — Sun, 06 Jan 2013 23:59:58 GMT

For the second condition:

http://ficoforums.myfico.com/t5/Credit-Cards/What-secured-cards-do-not-report-as-quot-secured-quot/td-p/1755540

Re: Secured Credit Cards not reporting as "secured" and not pulling a hard inquiry...

jsucool76 — Mon, 07 Jan 2013 00:00:04 GMT

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)

Re: Secured Credit Cards not reporting as "secured" and not pulling a hard inquiry...

CMS70 — Mon, 07 Jan 2013 01:28:40 GMT

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.

Re: Secured Credit Cards not reporting as "secured" and not pulling a hard inquiry...

beb86 — Mon, 07 Jan 2013 02:18:28 GMT

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

Re: Secured Credit Cards not reporting as "secured" and not pulling a hard inquiry...

Anonymous — Mon, 07 Jan 2013 02:27:29 GMT

@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).

Re: Secured Credit Cards not reporting as "secured" and not pulling a hard inquiry...

HiLine — Mon, 07 Jan 2013 03:23:40 GMT

@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.