Providian reporting secured.

Discussion in 'Credit Talk' started by David, Nov 29, 2000.

  1. David

    David Well-Known Member

    Just pulled my Equifax report online, and what do you know, Providian is reporting as "secured credit card" as has been reported by others on this board.

    I have the Visa Gold, $49.00 deposit to secure, $500.00 credit line, open 4 months.

    Will I have any luck having them remove the "secured" notation by threatening to close the account, as in, "I'm sorry, but I'd like to close my account because it is reporting as secured, and this does me no good" or something similar?

    Seems ridiculous that they report a $500 credit limit "secured" by 50 bucks as secured. This obviously does me no good at improving my rating in the eyes of a lender.

    Anyone had any luck with removing the secured notation? After how long?

  2. roni

    roni Well-Known Member

    RE: Providian reporting secure

    Why dont you keep the account 4 months and ask them to unsecure it?

  3. Michael

    Michael Guest

    RE: Providian reporting secure

    F.Y.I. Your FICO score will not be effected by a SECURED CARD Notation.

    2 of my best Clients had Secured Cards on their bureau report, and have built up about $40,000.00 in credit each!

    Machines don't pick this up, and people know you have to start somewhere. You can always add a consumer statement stating only $50.00 is secured and $450 is unsecured.

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