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You load money onto the card, then the issuer uses card responsibly and paying your balance on time.
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Douglas perry | A credit card can help you reach new financial heights by allowing you to build credit with responsible use. Furthermore, major credit card networks offer zero liability protections as a matter of customer services. No deposit is required More opportunity for rewards and cash back Higher credit limits possible. Deposit products and services are offered by Citibank, N. Late payments, delinquencies or other derogatory activity with your credit card accounts and loans may adversely impact your ability to build credit. |
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Whats the difference between a secured and unsecured credit card | 66 |
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6 Credit Misconceptions: Secured vs. Unsecured CreditThe core difference is the cash deposit that secured credit cards require. Otherwise, secured and unsecured credit cards work in similar ways. The main difference between secured and unsecured credit cards is the security deposit. Secured cards require a one-time deposit to open an account. Secured and unsecured credit cards are mostly identical, except secured credit cards generally require an upfront security deposit. Learn more.
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