One of the most prevalent ideas that comes up in the credit conversation, is that secured cards matter the most.
If we go back to the premise of credit and understand that the more bureaus reporting the better, then we understand that having a secured card report all three credit bureaus is most beneficial.
WHY DOES THIS MATTER?
When we first come into contact with our credit scores on the three major credit bureaus, we sometimes notice the scores are different. This is because of the accounts we open, either report to all 3 or do not.
I would argue to maximize all 3 scores to their highest potential, only establish credit that reports to all 3.
WHY IS THIS SIGNIFICANT?
Because when buying a home, a car, or even financing a boat, when they pull your credit report they may select which score to choose from, your lowest, or as some like to say “your middle score”.
Luckily for all of my clients, I have a list of about 15 primary accounts, that may not be easy on the eyes, but do the job as far as establishing credit.
