What Is The Difference Between A Secured Vs. Unsecured Credit Card?
Hello Alice offers two credit cards: an unsecured card with a revolving credit line, and a secured card. A secured card is a type of credit card that requires a security deposit in order to open an account. Once a cash deposit is made, you may charge purchases anywhere that credit cards are accepted. Responsible use of a business credit card also helps owners like you establish, build, or rebuild credit, which can be beneficial in qualifying for other financing and improve future borrowing terms, perks, loans, and improve future borrowing term. If you choose to close your credit card account at any point, your entire security deposit will be returned. An unsecured card means you do not have to pay a security deposit in advance to be approved.