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befudd

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Why does my score drop for using my SECURED card?
I understand the idea of credit utilization. But why should my score drop for using a secured card? After all, it's my deposit. It's my money. I'm not borrowing it from Capital One, I'm borrowing it from myself. As long as I keep paying it back on time, why should I be punished for using my own money?

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Your secured card gets reported the same as an usecured card.  That's what you want.  If the other banks know your card is secured they know that you aren't managing credit, you're essentially borrowing from yourself.  You need to use your card, but make sure that the balance is between 10-29% of your credit limit on the statement date.  

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RisingScores

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Also, you need to do everything you can to ensure you make all payments on time.  If you're going to be even one day late call customer support WELL IN ADVANCE and work something out.  After that you MUST adhere to any arrangement you make.  Under no circumstances can you let your account go 30 days past due.  If you need to use the money you have for a utilities bill to make a payment on your card, let the payment clear, and then use your card to pay the utility bill.  You can always counteract a drop in credit score due to high utilization by paying the balance down, but late paymets are there for 7 years.

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my credit score has also dropped

my sister cosigned for me a 200 limkit chase card every onth i pay the total amount off and always early...what is going on i really dont understand  any advidce

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credit score dropped over 45 points

I recently got approved for a 300 secured card. I got the card after being told this would help increase my credit score. After getting the card my credit score dropped 45 points with Transunion and almost 50 points with Equifax. I have only had the card for 1 1/2 months and I stay under 30 % credit utilization and pay on time. I have a old card from 2010 that has a 436 balance thats on my credit report as a write off. Could this old card balance along with my new balance cause my credit score to drop so much and how can i get my points back?

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