how does credit score work on usage of secured credit card. do i get any ratings on secured cr card.?

Public Comments

1. yea they report too the credit agencys every month try orchard bank.com after one year now i have three credit cards one with a 500, 750, and 1500$ limits
2. Yes, you will be able to establish a credit score with a secure card. Here are some additional tips: 1. Keep it open for more than a year 2. Pay on time, every time 3. For an optimal score, keep at least three open tradelines (credit card, car payment, mortgage, etc). 4. Keep the balance of the card below 1/3rd of the limit (ie, if it is a $300 card, don't charge more than $100). Needing a secure credit card suggests that you may have other issues with your credit. Time may be the only real cure... Best of luck.
3. Yes. They don't report that it's a "secured" card. And even still, you are making payments on time. And that is what they are looking for on the credit reports. Make all your payments on time.