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How Does FICO VIew A Secure Credit Card

The FICO score doesn't care that its reported a secured. The score sees it as a credit card. You credit limit and your utilization ratio are considered in the calculation. But the FICO score doesn't take off points because you're using secured credit cards.


The score really detests late payments and high utilization ratios, though, so use the card responsibly and keep you balance low. So in reality if you had 3 secured credit cards you would have the best possible FICO score in that calculation.


Three things that matter in a secured credit card.


1) Will you get approved. Yes you can get denied and many people do get denied every year. This sounds crazy but its true. The reason for this is the issuing bank doesn't think you will make payments. They just don't want to be bothered with all the hassle. Most secured cards run a credit check.


2) Do they run a credit check. There are some that don't so you wont be denied.


3) Will the secured card become a non-secured card at some point.

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