secure credit card vs non secure credit card

I read that a credit card that is less then $1,00 can actually count against u on ur credit score. Would a secure credit card for $1,000 be better then a non secured credit card for $350?

I'm not sure where you read about this but whoever wrote it is wrong.

There is no difference between a secured card or a non secured credit card. There is no indicator in your credit report that says the credit card is secured or not secured. And remember, if it's not in your credit report then the credit score model can't use it in its calculation.

The thing to remember about credit cards (secured or not) is to keep your balances as low as possible. When you have a 1,000 limit on card with a 300 balance, you're about 30% utilized on that account. For the most possible points, you should really try to keep your revolving utilization at 10% or less. Make sense?

dtempleton wrote:I'm not sure where you read about this but whoever wrote it is wrong.

There is no difference between a secured card or a non secured credit card. There is no indicator in your credit report that says the credit card is secured or not secured. And remember, if it's not in your credit report then the credit score model can't use it in its calculation.

The thing to remember about credit cards (secured or not) is to keep your balances as low as possible. When you have a 1,000 limit on card with a 300 balance, you're about 30% utilized on that account. For the most possible points, you should really try to keep your revolving utilization at 10% or less.

Thanks for that information. My question was relating more to hearing that a credit card with a low credit limit can actually count against you on your credit score. Thoughts?

The lower limit credit cards don’t hurt you any more (or any less) than larger limit cards. The important part of this equation is your revolving utilization. Keep in mind that 30% of your score looks at your ratio of balances to available credit limit.

The problem is that the lower limit cards are much easier to over utilize. If you have a lower limit card of say... $300 then you’d need to keep your utilization at $30 or less in order to keep your revolving utilization at 10% or less.