Posted by William Charles on December 12, 2013
Credit Cards

Published on December 12th, 2013 | by William Charles

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Does It Matter If A Secured Credit Card Reports As Secured?

Question:

I’m a new immigrant to America with no credit history. I’ve been doing some lurking of your secured credit card reviews and I noticed that you always tell us if it reports as secured or not. Is this important? Should I only look for cards that don’t report as secured?

Answer:

When calculating credit scores (e.g the FICO score) cards being reported as secured or unsecured are not taken into consideration. The reason we let consumers know if they report as secured or not is because some individuals think this could hurt them if they apply for a loan and somebody manually checks their credit report.

We haven’t heard of any lenders actually looking at this information before, but it’s something some people are concerned about so we like to include that information on the website. If we were you, we wouldn’t worry about that particular criteria. It’s not something we looked at when we looked at the best secured credit cards.



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