SECURED CC Question

[Anonymous]

Does it matter to the 3 bureaus how secured cards report? For example, I know that the Capital One secured card reports to them as it being unsecured, but others report to them as being secured. Thanks!

[gibeon]

It does not matter to the CRA's or to your score.

It may (and that is a very slight may) matter if you have a manual review of an application, but it sure as heck hasn't hurt me any. 

[jacetx]

---

@Anonymous wrote:

Does it matter to the 3 bureaus how secured cards report? For example, I know that the Capital One secured card reports to them as it being unsecured, but others report to them as being secured. Thanks!

---

It does not matter. It counts as a unsecured card regardless of how it is reported.

[Anonymous]

Thank you for your reply, do you have any personal experience with any secured cards (we have already been approved for Capital One secured) and are trying to find another secured card to apply for. Wells Fargo turned us down and encouraged us to open a savings account and try for the secured card again once we have a good standing account with them. 

[jacetx]

---

@Anonymous wrote:

Thank you for your reply, do you have any personal experience with any secured cards (we have already been approved for Capital One secured) and are trying to find another secured card to apply for. Wells Fargo turned us down and encouraged us to open a savings account and try for the secured card again once we have a good standing account with them. 

---

I'm not sure what your situation is but it would help if you would provide more information (scores, inquiries, baddies). Normally I would recommend to use the secured card for 6 months and then try prequal sites (Capital One, Amex, Citi).

[Anonymous]

Experian is 544, Eqifax530, TU 529 most baddies are medical. There are 2 utility bills that we didn't know we had and didn't get forwarded to our new address when we moved. We only have 1 postive which is a truck loan. Never late always on time. 

[gdale6]

Hi there OP,  

I have removed your cross posted thread on this subject from the applications forum. Please refrain from posting the same topics in multi forums it can lead to confusion by the members and it isnt inline with our TOS. I thank you for your understanding on this

[Anonymous]

sorry wasnt sure where to post thanks.

[jacetx]

---

@Anonymous wrote:

Experian is 544, Eqifax530, TU 529 most baddies are medical. There are 2 utility bills that we didn't know we had and didn't get forwarded to our new address when we moved. We only have 1 postive which is a truck loan. Never late always on time. 

---

Use the new card like I wrote previously and let your scores improve before you apply for anything else. Those collections, are they unpaid? Is there a way that you can PFD?

[gibeon]

---

@Anonymous wrote:

Thank you for your reply, do you have any personal experience with any secured cards (we have already been approved for Capital One secured) and are trying to find another secured card to apply for. Wells Fargo turned us down and encouraged us to open a savings account and try for the secured card again once we have a good standing account with them. 

---

http://www.beverlyharzog.com/the-best-and-worst-secured-credit-cards/

That blog is great for figuring out the "deal" with a lot of secured cards.