To know the crux of the title let us first understand what secured and unsecured loans are. When a loan is given against a property or any asset it is a secured loan. Contradict to this unsecured loans are given without any security. In case of secured loans if you fail to repay the loan then your property is auctioned to recover the loan money.

credit card unsecured loans


When you apply for a credit card you supply your salary certificate and other details to the bank. Remember you are not supplying any property papers. Bank on the basis of your salary and other details furnished gives you a credit card with a particular amount limit say for example £50,000. This means you can purchase goods worth upto £50,000 without paying for them in cash. Hence credit cards are considered as unsecured loans.
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