Is there any way to get a secured credit card without a credit report being pulled?

Bill T asked:


I don’t understand why if you give a bank money up front, and that’s your limit on the card, why they have to pull a credit report? Is there any way around? The reason I don’t want a report pulled is I’m trying to raise the score, but it’s already been affected negatively by too many inquiries.

Anthony

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2 Responses to “Is there any way to get a secured credit card without a credit report being pulled?”

1. Ed Atun Says:
   April 3rd, 2009 at 1:12 pm

   Jeanette

   Fair Isaac says that “credit inquiries” no longer hurt your credit score. They understand that shopping at 4 car dealers can result in 4 credit “pulls”.
   The new Rush credit card has no credit report. You are prepaying the entire amount of the card’s limit so the bank has zero liability. No need for a credit check..

2. Jim Q Says:
   April 3rd, 2009 at 4:24 pm

   Aaron

   “Too many inquiries” is rarely impacting your credit score. If these inquiries do end up opening credit to you, that will have an impact (if suddenly you went from no credit to $50k). I cannot explain why the bank needs to run credit if you are securing the entire line of credit with cash money. Generally I have never seen/ experienced any situation where credit score/ report was not run when applying for credit. The best way to increase your credit score is to get the secured card and use it and pay it off every month. You can also build credit with car payments, utilities, store credit card, etc. You need to have credit history to have a credit score. Too little activity is not a good thing.

   Also you can find some advice here…

   Have a nice day.