107. What is an unsecured card?
Description
This article is from the Credit cards and Consumer Credit FAQ, by adams@spss.com (Steve Adams) with numerous contributions by others.
107. What is an unsecured card?
You may not often hear this term. Technically, a "regular" card is
unsecured. This means that the bank can't take specific assets of
yours if you don't pay the loan, but rather they have to sue you or
force you into bankruptcy.
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