ROTFLMAO! Anyways, I finally got my secured card in the mail today. They actually made it a GOLD Wells Fargo Credit card. I don't know if my FICO made a difference, or if it was because I've never had a late payment, but the Gold color sure is nice in my wallet! I have yet to see how it reports to the credit bureaus (as secured or standard card).
Just got a copy of my credit report and my Wells Fargo Secured card DOES report as a secured credit card. Just FYI. David Kinder
But if you scroll down to the 'features and benefits' section of their secured card page, you'll see that the card supposedly offers "Confidentiality. No one will know your card is secured." No one except the person actually viewing your credit report, I guess. In any case, though, is having a card reporting as secured a big deal? In other words, with all other things being equal (credit limit, account age, utilization, etc.), would you see a score difference with having, say, a year-old secured account vs. an unsecured one? Just curious... wajaba
It's not like it says "Secured Credit Card" on your actual credit card. That would be an embarassment to use. For it reporting as secured vs unsecured, I'm not an expert in those matters. I wish I was. I figure that an account in good standing is an account in good standing - secured or unsecured. That's my simple way of thinking.
Bump, any negative affects of the reporting of "secured"? Any better secured card out there nowadays?
