Nov 06
I know the difference between the two cards, but I want to know if there is a difference between the two on your credit report. For example, would it be more beneficial to have an unsecured card for your credit score? Or does it not make a difference which card you have?
No difference on your credit report. Secured cards tend to be lower limit.
Secured cards will give you the credit amount equal to your deposit or upto 3x your deposit which is determined by how they determine their risk.
Unsecured is higher limit. Credit reports will reflect only your credit balance outstanding and the current payment status. All lates will be reported. Even if your late a week it may show as 30 days late.
no difference it just shows the basics. one will not help builder your credit better than the other. the rules apply the same dont be late keep balances at 30% preferably or lower or at least not above 50% and you should be in good shape.
No. There’s no difference. Actually obtaining an unsecured credit cards is better simply becasue you do not have to put money into a savings account for collateral. You may also visit my website for more info:
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