Credit Card Glossary: Terms and Definitions
Unsecured credit cards
Unsecured credit cards are the most common type of credit cards. They are not secured by collateral. That means that unlike secured loans, such as mortgages or auto loans, unsecured credit cards are not directly connected to property that a lender can seize of the cardholder fails to pay. Issuers of unsecured cards must make use of other means — such as the courts or garnishment — to collect unpaid debts. Customers qualify for unsecured cards based on their credit history, their financial strength and their earnings potential.
Terms from A-Z
Search the CreditCards.com glossary for every credit-related term from "account holder" to "zombie debt." Select a letter for alphabetized terms and definitions.