does a secured credit card show on my credit report as a regular credit card?
February 13th, 2009
remy186 asked:
How does a secured credit card show up on your credit report. Does it help your credit report?
How does a secured credit card show up on your credit report. Does it help your credit report?
There is no difference between a SCC and a CC.
I’m not sure how it shows on your credit report, but I do know that it will definitely help your credit if you pay on time each month.
Yes to both: it reports just like a regular credit card, and it will raise your FICO scores (assuming you pay your bill on time – if you are late on a secured card it’s just as bad as being late on a non-secured card).
A secured credit card is a great way to build or repair credit. If possible, always keep your balance at less than 50% of the available (even on a secured card). For instance, if your card has a limit of $500, don’t let the balance ever get over $250. That will raise your FICO scores faster than if the balance is over 50%.