A secured loan may or may not hurt your credit, depending on how you manage the loan. When you apply for a secured loan, such as a mortgage or a car loan, the lender will conduct a hard credit check, which can temporarily lower your credit score by a few points. However, making regular, on-time payments on the loan can have a positive impact on your credit score over time. If you miss payments or default on a secured loan, it can have a negative impact on your credit score.