Chip Lupo, Credit Card Writer
Yes, most secured credit cards do pull your credit report when you apply, which means they will add a hard inquiry to your TransUnion, Equifax or Experian credit report when evaluating your track record as a borrower. Only a few secured credit cards do not require a hard pull of your credit for approval.
No Credit Check Secured Credit Cards
Keep in mind that even if a secured card does not require a credit check, it will have other approval requirements. For instance, applicants must be at least 18 years old and have enough income to afford the initial security deposit, as well as minimum monthly payments.
Also, you should not rule out secured credit cards that do a hard pull, even if you have bad credit. Secured credit cards are designed for people with damaged or limited credit. And while it’s true that a hard pull can cause a small drop in your credit score, the effect can last no longer than 12 months. Plus, your credit score will quickly bounce back if you use your secured card responsibly.
To limit credit score damage, avoid submitting multiple credit card applications at the same time. If you want to better gauge your chances of approval, check for pre-approved offers before you apply. You can also sign up for a free WalletHub account to receive personalized credit card picks that match your credit profile.
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