It’s called an unsecured card because you’re not using any type of collateral to “secure” approval and usage of the card. Sometimes unsecured cards charge interest if you carry a balance over to the next pay period. You can use it however you want, then pay off that balance at the end of the pay period. If you’re denied, you might be able to apply for a secured credit card.Īn unsecured credit card is a card with a limit based off your credit score. If your credit is strong and you can prove you’re responsible with credit, you’ll most likely be approved for an unsecured card. When applying for a credit card, your credit score and history are evaluated to see if you’re a good candidate to use the card. Secured vs Unsecured Credit Card: What’s the Difference? Here’s how secured and unsecured credit cards work and how you can use them both to your advantage. While both can be spent the same way, both cards are handled differently. One of the biggest distinctions between cards is secured vs. For instance, some are best for travel, while others are great to use at the gas station. To learn more about relationship-based ads, online behavioral advertising and our privacy practices, please review Bank of America Online Privacy Notice and our Online Privacy FAQs.Different credit cards have different uses. These ads are based on your specific account relationships with us.
In addition, financial advisors/Client Managers may continue to use information collected online to provide product and service information in accordance with account agreements.Īlso, if you opt out of online behavioral advertising, you may still see ads when you log in to your account, for example through Online Banking or MyMerrill. If you opt out, though, you may still receive generic advertising. If you prefer that we do not use this information, you may opt out of online behavioral advertising.
#MAKE THE JUMP FROM SECURED TO UNSECURED CREDIT CARD OFFLINE#
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