FYI, I have a secured VISA from Public Savings Bank, and I found out thaat it is not reflected on the credit reports as a secured account. Just listed as a credit card, like the others. I was curious, is all. So I assume proper use of this card can improve my credit rating.
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And also, since it's not listed as secured
thr reports don't indicate that is baacked by a savings account, which means anyone reading the reports is unaware of that cash asset. Nice~ -
I have the Public Savings account, and it has been reporting to all of the credit bureaus. The only thing is when I make a payment over a certain amount they hold it for a week before releasing my available credit. It's ok as I use it to make online purchases and pay the balance in full.Comment
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As far as credit reporting goes, there is no "Secured" versus "Unsecured" on your credit report. They all just report your limit, and payment history. The advantage of a unsecured is the amount of available credit, once you get past the starting line. Also, check to see when your secured card is eligible to "graduate" to an unsecured card, then take your savings deposit, and open a new account to increase your credit score by proving your capable of paying them. Best of luck to all of us!Ch 13 0% unsecured Filed 04/10.....Converted to Ch 7 11/10
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341 meeting 1/6/11.....Letter of No Distribution 1/7/11
.....Discharge....3/11/11 
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Ideally there is no designation as to type of credit card. However, I have a secured card from Amalgamated Bank with a 5k credit limit that is designated as secured on at least one of the credit reports (forgot which one). I was disappointed to see that since I was hoping to have no reference to it being a secured card.Originally posted by JvilleGarden View PostComment
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