Topic: Difference between Secured Unsecured Credit Cards
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Answers to Common Questions
What is a Unsecured Credit Card?
An unsecured credit card is one that is not backed, or guaranteed by any money held as a deposit. You don't put anything up as collateral, the card is issued based on your credit information only. Read More »
Source: http://answers.ask.com/Business/Finance/what_is_a_unsecured_credi...
How to Convert a Secured Credit Card to Unsecured
Secured credit card issuers generally require cardholders to make a cash deposit to a savings account that serves as collateral if cardholders don't pay off the charges on their cards. The amount of the deposit usually establishes a cardhol... Read More »
Source: http://www.ehow.com/how_5560560_convert-secured-credit-card-unsec...
How to Change a Secured to an Unsecured Credit Card
Many people don't qualify for an unsecured credit card due to a poor credit history. These people often resort to credit cards secured by cash they put down up front in order to have the power that credit cards afford. You can eventually ch... Read More »
Source: http://www.ehow.com/how_2317486_change-secured-unsecured-credit-c...
More Common Questions
Answers to Other Common Questions
A secured credit card requires a deposit. If you don't pay your bill, then they keep the deposit. Unsecured cards aren't secured.
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Source: http://www.chacha.com/question/what-is-the-difference-between-sec...
A secured credit card is a pay to play system. That is you must bank a certain amount with the issuing bank before you may use the card. If that balance is met or exceeded, your ability to use the card will end. An unsecured card is a type ...
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Source: http://wiki.answers.com/Q/What_is_a_secured_credit_card_and_an_un...
A secured credit card is a card that a bank issues that gives them an interest in either your savings account or a certificate of deposit. It's almost like a loan of your own money.
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Source: http://answers.ask.com/Business/Finance/what_is_a_secured_credit_...
A secured credit card is one which has an asset tied to it that the credit grantor can go after if you don't pay your bill. Something like cash in an account or your home equity, etc. An unsecured credit card is one that they grant you with...
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Source: http://answers.yahoo.com/question/index?qid=20060926201801AAIRjkj
Are you considering applying for an unsecured credit card? This is a decision that must not be taken lightly. Consider carefully your purposes for applying, as well as your planned use of the credit. This article will provide you with the e...
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Source: http://www.ehow.com/how_4587751_apply-unsecured-credit-card.html
Whether you are trying to build credit for the first time or simply want more purchasing freedom, an unsecured credit card helps you meet your financial needs while also creating a purchasing record that demonstrates your responsible spendi...
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Source: http://www.ehow.com/how_4859306_unsecured-credit-card.html
Do you want to build a credit history that can help you obtain the best rates on auto loans and home loans? If so, an unsecured credit card can help. With an unsecured credit card, deposits aren't required and applicants can obtain credit w...
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Source: http://www.ehow.com/how_4744513_obtain-unsecured-credit-card.html
