An unsecured credit card is just another name for a “regular” credit card. Unsecured means that debt on the card is not backed or secured by collateral. All the lender has is your promise to pay it back. With traditional loans, you must offer something as collateral to reduce the risk to the lender that you won’t repay...
The article What Is an Unsecured Credit Card? originally appeared on NerdWallet.
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