- Discussion board

i am in the military and have pretty good credit, but no credit cards. i am trying to find out the differences of unsecured and secured cards and whats the best one for me.

Secured credit cards, you put an amount of money on hold. You have to front the cash before you can get the card, and then generally what ever amount you place on hold, is the limit of your card. It is basically a safety feature, so if you dont pay the credit card back, they can just take it from the money you put down for the card.

Unsecured is just the oposite, you dont front any sort of money, so its more of a chance for the company if you dont ever pay the credit card back.
They just give you a car with a balance, and you have to pay it back.

If you have pretty good credit then you might aswell just pick an unsecured credit card. Unless of course you have cash just lying around that you can spare in putting into a secured one. Secured credit cards are normally for ppl with bad credit, because they are riskier clients they require that money to be secure to guarantee payment.

"secured" means you put money as a collatera, to guarantee at least part of your spending line..

"unsecured" means your credit is good enough for a credit card company to give you a credit line without collateral.

all normal cards are unsecured. but they don't normally state that since anything ending with "secured" (whether or not it is "UN-secured") has come to connotate something negative about the card (usually a fee and/or a high APR).