topic Re: Do All Secured Credit Cards Report as "Secured Credit Card?" in Rebuilding Your Credit

Do All Secured Credit Cards Report as "Secured Credit Card?"

Anonymous — Wed, 03 Oct 2012 21:56:18 GMT

Just curious if all secured cards report as secured credit card? I just had US bank secured card hit my Equifax today and unfortunately it says "Secured Credit Card" in big bold writing.

Should it even matter to me? I guess I was thinking that lenders might see that and be less inclined to want to grant me credit a year from now.

Also my score went up from 673 to 725 with the deletion of one 25 dollar collection and also I guess because of the new credit.

Thanks

Re: Do All Secured Credit Cards Report as "Secured Credit Card?"

fuzzybean — Wed, 03 Oct 2012 22:03:18 GMT

I don't know if they all do, but the one I'm an AU on says secured on it, too.

Congratulations on the score jump!

Re: Do All Secured Credit Cards Report as "Secured Credit Card?"

apandabear — Wed, 03 Oct 2012 22:02:41 GMT

USAA Secured Cards don't. I can't speak for any others.

It probably only makes a difference in a manual review of your credit file.

If this is your only open CC, that would sure give you a point increase.

Along the same lines, if that was your only (or most recent) collection, your score would see a boost.

Re: Do All Secured Credit Cards Report as "Secured Credit Card?"

Anonymous — Wed, 03 Oct 2012 22:18:02 GMT

Thanks Fuzzybean, I had no idea one 25 dollar collection would drag me that far down. Or maybe it's the opening of the new US Bank Secured that has me up. I have no idea which bumped me up that high, just happy.

Re: Do All Secured Credit Cards Report as "Secured Credit Card?"

Tran92 — Wed, 03 Oct 2012 22:30:55 GMT

It is the collection that bumped you up. I had a $94 collection removed and it bumped up my score by nearly 60 points. It goes to show to PIF every time. (:

Re: Do All Secured Credit Cards Report as "Secured Credit Card?"

Anonymous — Wed, 03 Oct 2012 22:43:53 GMT

That's good to know, thanks for the info.

I'm wondering what's going to happen with my Repossession falls off next month. That's the last negative trade on my equifax report and the worst of the baddies with a 6000 balance. 725 to 775 maybe? I will check in next month.

Re: Do All Secured Credit Cards Report as "Secured Credit Card?"

yo-upacreek — Thu, 04 Oct 2012 00:41:50 GMT

My Capital One secured CC doesn't report "secured".

Re: Do All Secured Credit Cards Report as "Secured Credit Card?"

Anonymous — Thu, 04 Oct 2012 02:42:34 GMT

+1 on the capital one secured card - mine does not report as "secured" either

Re: Do All Secured Credit Cards Report as "Secured Credit Card?"

intherightdirection — Fri, 12 Oct 2012 21:43:47 GMT

My Open Sky does not report as "secured" either. I checked all 3.

Re: Do All Secured Credit Cards Report as "Secured Credit Card?"

Anonymous — Fri, 12 Oct 2012 21:47:45 GMT

Thanks

Re: Do All Secured Credit Cards Report as "Secured Credit Card?"

Guyatthebeach — Fri, 12 Oct 2012 23:47:54 GMT

I have a secured card from PNC and it shows up as a regular unsecured credit card.

Re: Do All Secured Credit Cards Report as "Secured Credit Card?"

Anonymous — Sat, 13 Oct 2012 19:20:47 GMT

+1 capital one secured. it doesn't show as secured on my credit reports and it shows my credit limit also.

Re: Do All Secured Credit Cards Report as "Secured Credit Card?"

hoping2rebuild — Mon, 15 Oct 2012 00:10:39 GMT

+ 1 here too my cap 1 shows as unsecured and it shows my credit limit, which it's nice to say they just gave me a little bump a couple months ago

Re: Do All Secured Credit Cards Report as "Secured Credit Card?"

KnewBee — Tue, 16 Oct 2012 03:06:27 GMT

I have 3 secured cards and none of them report as secured. New Millenium Visa and MC. First Premier secured.

US Bank Secured Card UPDATE

toi34 — Wed, 29 May 2013 07:21:36 GMT

Can someone please give the forum a May 2013 update about whether or not US Bank's Seucred Visa will report to the bureaus as "secured." I have read yes and no, but the posts were from 2007, 2010. This is VERY important to know BEFORE members apply.

If you have this card NOW please advise....

Thanks!

Re: Do All Secured Credit Cards Report as "Secured Credit Card?"

lg8302ch — Wed, 29 May 2013 09:20:31 GMT

@Anonymous wrote:
Thanks Fuzzybean, I had no idea one 25 dollar collection would drag me that far down. Or maybe it's the opening of the new US Bank Secured that has me up. I have no idea which bumped me up that high, just happy.

Mind me asking? Why secure card with the nice collection of cards you have?

EDIT: sorry...this is what happends when you do not look at the date of the original post

Re: US Bank Secured Card UPDATE

RetiredinNY — Wed, 29 May 2013 14:45:25 GMT

@toi34 wrote:
Can someone please give the forum a May 2013 update about whether or not US Bank's Seucred Visa will report to the bureaus as "secured." I have read yes and no, but the posts were from 2007, 2010. This is VERY important to know BEFORE members apply.

If you have this card NOW please advise....
Thanks!

I opened a secured US Bank VISA in February 2013. It reports as secured to all three bureaus.

Re: Do All Secured Credit Cards Report as "Secured Credit Card?"

llecs — Wed, 29 May 2013 15:46:18 GMT

@lg8302ch wrote:
@Anonymous wrote:
Thanks Fuzzybean, I had no idea one 25 dollar collection would drag me that far down. Or maybe it's the opening of the new US Bank Secured that has me up. I have no idea which bumped me up that high, just happy.
Mind me asking? Why secure card with the nice collection of cards you have?

EDIT: sorry...this is what happends when you do not look at the date of the original post

He's no longer around to answer.

Re: US Bank Secured Card UPDATE

llecs — Wed, 29 May 2013 15:51:45 GMT

@toi34 wrote:
Can someone please give the forum a May 2013 update about whether or not US Bank's Seucred Visa will report to the bureaus as "secured." I have read yes and no, but the posts were from 2007, 2010. This is VERY important to know BEFORE members apply.

If you have this card NOW please advise....
Thanks!

This is an older thread but it looks like someone answered it.

IMO and IME, it doesn't matter if a card reports secured or not. I have yet to see any poster concretely claim that they were denied for credit due to a secured TL reporting (or rather reported as secured).

IME, I was approved for 2 car loans under manual review with a secured CC reporting. I was also approved for prime cards like PNC, Amex, Discover, BofA (which was also secured), Wells Fargo and others with 2 secured CCs reporting at the time of the app. I was also approved for a mortgage with the same 2 secured CCs reporting. Nobody ever questioned it or raised it up as an issue.

Re: US Bank Secured Card UPDATE

toi34 — Thu, 30 May 2013 00:35:17 GMT

Oh great! I am trying to get my credit solid for mortgage apps and wanted to make sure that secured card showing on the reports as "secured" did not make me look undesireable to the lenders.

topic Re: Do All Secured Credit Cards Report as "Secured Credit Card?" in Rebuilding Your Credit

Do All Secured Credit Cards Report as "Secured Credit Card?"

Re: Do All Secured Credit Cards Report as "Secured Credit Card?"

Re: Do All Secured Credit Cards Report as "Secured Credit Card?"

Re: Do All Secured Credit Cards Report as "Secured Credit Card?"

Re: Do All Secured Credit Cards Report as "Secured Credit Card?"

Re: Do All Secured Credit Cards Report as "Secured Credit Card?"

Re: Do All Secured Credit Cards Report as "Secured Credit Card?"

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US Bank Secured Card **UPDATE**

Re: Do All Secured Credit Cards Report as "Secured Credit Card?"

Re: US Bank Secured Card **UPDATE**

Re: Do All Secured Credit Cards Report as "Secured Credit Card?"

Re: US Bank Secured Card **UPDATE**

Re: US Bank Secured Card **UPDATE**

US Bank Secured Card UPDATE

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Re: US Bank Secured Card UPDATE

Re: US Bank Secured Card UPDATE