Anyone who's a Catholic, when asked whether a Jew or a Mohammedan or a Protestant or a schismatic can be saved, MUST ANSWER NO. To say anything else constitutes nothing less than an obviously heretical denial of Catholic dogma.
Now, the only way to get people into the Church and, therefore, saved ... without this blatant heresy ... is to apply distinctions, in particular, the formal vs. material distinction. I know a Protestant. Even though he looks like a Protestant, goes to a Protestant Church, believes as Protestants do, etc., he's really deep down, without even knowing it, a Catholic. In other words, he's materially a Protestant but formally Catholic. Tragically, most Catholics, and most Traditional Catholics even, do not even answer this way, and are therefore in open heresy on the matter. But for those that DO make this distinction, what we have here is nothing other than ANONYMOUS CATHOLICISM. Tip of the hat to Karl Rahner.
And, what we have here is nothing other than VATICAN II ECCLESIOLOGY, where, within the Church, and therefore eligible for salvation, are not only Catholics, but all kinds of people who, while appearing to be non-Catholic on the outside (materially), are really Catholic on the inside (formally). So we have this strange frankenchurch which consists of Catholics, Protestants, Jews, Mohammedans, etc. And EVERY SINGLE ERROR OF VATICAN II reduces to THIS FUNDAMENTAL ECCLESIOLOGICAL PROBLEM.
So most Traditional Catholics are really ANONYMOUS CONCILIARISTS.
Honestly, if I believed this crap that most Traditional Catholics promote, then I would have no choice but to state that there's nothing substantially wrong with Vatican II and that I have been schismatic for having been out of communion with the Post-Vatican II Church.