Does having a secured card hur

Discussion in 'Credit Talk' started by Jim, Sep 30, 2000.

  1. Jim

    Jim Well-Known Member

    I already have 3 unsecured VISA cards and 2 dept store charges. If I receive a secured VISA card will it lower my score? I am not actually looking to get another VISA card at this time.

    My foreclosure was in 2/98.
    My Chap 7 B.K. was approved in 2/99.
  2. Michael

    Michael Guest

    RE: Does having a secured card

    Having another credit card will always lower your score.

    However if the credit card is open for a while, and if the credit is a good limit then this is countered with higher scoring in the other areas of FICO.

    Will a secured card affect your score more than a new unsecured card?


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