What Secured Credit Card Does Not Report as a Secured Credit Card?
Answers:2 | LastUpdateAt:2012-09-15 05:19:04
Question- Tania
- Asked at 2012-09-01 02:16:08
I 'm on the basis of repairing my credit so sad . I do not know my score , but I know that I have not reported anything positive , but me paying past debt and my student loan being delayed because I'm at school . MedlinePlus
MedlinePlus
I just want to set up a secured credit card that does not correspond with a prepaid card - . From what I understand it still hurts your credit MedlinePlus
MedlinePlus
Thanks for any help !
Answer1amritpalAnswered at 2012-09-05 13:17:04
Secured credit cards and prepaid cards are completely different . MedlinePlus
MedlinePlus
Prepaid cards are like gift cards . You put money on the card and use it until the money is gone. Then you can put money on the card. Prepaid cards do not report to the credit bureau , as they are not an extension of credit . MedlinePlus
MedlinePlus
Secured cards require you to pay a deposit which is held as collateral against the line of credit . You use the card , you will receive a monthly statement showing the charges and must make at least the minimum payment . Secured cards are reported to the credit bureau and no special notation . They appear as any other regular credit card .
Answer2GodswillAnswered at 2012-09-15 05:19:04
I think the Wells Fargo and Bank of America declared as non- insured, or at least not for long
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Question:What Secured Credit Card Does Not Report as a Secured Credit Card?
