Topic secured and unsecured credit cards
whats the difference between a secured and unsecured credit card?
An unsecured credit card has no collateral. If you receive an unsecured card the issuer has no guarantee that you will not go charge up to the credit limit and refuse to repay the debt. With a secured card the issuer requires that you deposit a certain % of the credit line to ensure that they are not left with charges and no payment.
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