Secured Business Credit Cards To Rebuild Credit
Does a secured credit card hurt your credit if it reports as secured?
We recently discharged from a chapter 7 bankruptcy after our business had to close. I want to rebuild my credit and went to my credit union to get a secured credit card. I was told it would report as secured. I know there are secured Credit Cards out there that do not report that they are secured. Does anyone know if it makes a difference how they are reported, and if it will rebuild my credit if it reports secured? I had perfect credit for 22 years prior to the BK, no collections, and no judgements. I need to start over. Thanks.
Secured Credit Cards are reported to the credit bureaus exactly like unsecured accounts. There is no special notation for secured accounts.
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