Q&A: credit card?
High Risk & Low Risk Merchat Services

Q&A: credit card?

Question by just fun12: credit card?
what is deffrence between student credit card and secured card?

Best answer:

Answer by bevrossg
Don’t have any credit card. Pay cash and stay out of debt!

Give your answer to this question below!

Comment (1)

  • a secured card is usually backed by a CD. let’s say you have a $ 500 limit. the creditor will purchase a $ 500 CD for you which is basically the security or collateral for the card. you pay for that CD over time, as well as any purchases you make. if you default on the card, the lender cashes in the CD and gets (most of) their money back. a student credit card has no collateral. they usually start with a lower credit limit and are designed for students to build credit. i recommend a student card, used sparingly, and paid on time to build credit.