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what is the difference between unsecured and secured mean |
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Date:
October 10, 2007, 1:24 pm |
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what is the difference between unsecured and secured mean |
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Answer:
Thank you for your question. We are glad to answer and to solve this problem. Secured credit cards requre collateral to secure your credit and to guarantee you will pay off you bills in good faith. This collateral may be some kind of property (e.g. a car) or a certain amount of money. These are regarded the best variant for those who want to start building their credit history (i.e. have no credit) or rebuild it (have bad credit). As of unsecured cards, these don't require collateral. They are standard credit cards, and the customers can apply for an unsecured credit card taking into consideration their credit histories, credit scores, and financial possibilities. |
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