Be confident your secured card reports to all three credit rating agencies.
Here’s a little-known fact: Not all secured credit cards are created equal.
If you’re looking for a secured credit card, chances are you’re eager to build your credit from scratch or rebuild it from a low score. But in order to build that credit you need two things:
- To be responsible and prove to the world you can pay your balance on time.
- To use a secured credit card that reports your credit activity to the three major credit bureaus.
The first part rests in your hands, but did you know that not all secured cards report to the three major credit bureaus? The only way you can start paving your path to a higher score is if the credit bureaus see you’ve been responsible with your credit.
What are the three credit bureaus for secured credit cards?
There are probably hundreds of local and regional credit bureaus in the United States — in fact, each of the “big three” credit bureaus grew out of small local operations that grew until they became the large national rating agencies we’re familiar with today. The three main credit bureaus that you need to pay attention to for your secured credit card are:
Compare secured credit cards reporting to all three credit rating bureaus
Below are secured credit cards who report to the three big credit agencies. When you use these responsibly, these cards should help you on your road to better credit.
Are there secured cards with no annual fee that report to all three credit rating bureaus?
You’re in luck if you’re looking for a secured credit card with no annual fee that can help you build your credit. Check out one of these three cards to be sure that your spending and account activity will be relayed to the three major bureaus.
| Secured credit card | Annual fee | Minimum deposit | APR |
|
|
$0 | $200 | 25.24% variable |
|
Secured Mastercard® from Capital One®
|
$0 | $49, $99 or $200 (depending on credit) | 26.99% |
|
SDFCU Savings Secured Visa Platinum Card
|
$0 | $250 | 14.24% |
Two other secured credit cards that get a nod from us and will report your credit activity are the SDFCU Savings Secured Visa Platinum Card and the Citi® Secured Mastercard®.
Hi. I would like to know if I put my husband as a “secondary card holder” will it affect his and my credit scores?
Hello,
Thank you for your comment.
Because a secondary cardholder is not technically responsible for paying the bills, being an authorized user may not have a huge impact on your credit score. But it helps those with little or no credit history beef up their credit files if the card issuer reports authorized users to the credit bureaus.
Additionally, by simply adding authorized users to your credit card accounts will not have a negative effect on your credit report or credit scores. It’s their behaviour that could affect your credit. But their name, and the fact that you’ve added them as an authorized user will not show up your report.
I hope this helps.
Regards,
Jhezelyn
i am looking for sercured cards with no fees and report to all 3 credit angencys
Hi John,
Thank you for contacting finder.
You are on the correct page as listed on the table are the Secured Credit Cards that reports to the 3 Major Credit Bureaus. You may also compare the Secured Credit Cards that has No Annual Fee which can help you build your credit.
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