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Which of the following is an example of secured debt?
credit card
What are the implications of credit cards being considered secured debt?
When credit cards are considered secured debt, it means that the credit card company can seize and sell the collateral (such as a house or car) if the cardholder fails to repay the debt. This can have serious consequences for the cardholder, as they risk losing their valuable assets if they are unable to make payments on their credit card.
Can you get credit cards after filing Chapter 13?
Credit cards after a bankruptcyOne can get a credit card after bankruptcy but I believe it has to be a "secured" credit card as opposed to an unsecured one. You will also have to be aware of secured credit card scams. There are compaines out there who know people are in unfavorable financial situations and will take advantage.Defintions of secured credit card I found on Google are:1.A credit card obtained by opening up a savings account with a bank offering this program. The bank will issue a major credit card and secure it with a deposit2.A credit card backed by collateral, usually cash in the form of a bank deposit account.3.A consumer uses savings or cash deposit to guarantee the credit card or loan; the limit of credit is based on the amount of deposit available.4.A credit card secured by a savings account that has been established in advance by the borrower. The amount in the account usually determines the limit on the credit card. These accounts present no real risk factor for creditors and are therefore much easier to obtain.--------------Yes you can, after all they issue Credit cards to Dogs and Dead people all the time... Odds are you'll have to get a secured Credit Card, where you are effectively borrowing your own money.My question is why would you get another Credit Card after going through Bankruptcy? Borrowing money hasn't been a blessing to you so far. If you continue down the same path you will continue to get the same results.-Goose--------------------------------------------------------------------------------------------Goose you dont know his situation so shut the trap ..Yes you can get a secured card thet is the begining of a fresh start, make payments on time and little by little they will offer you more credit, once it goes unsecured you can stop the credit increased at any time like lets say $ 200 dollars and use it for car rentals etc good luck to you !
Do you need a credit card in order to finance a car?
No, you do not need a credit card to finance a car. Auto financing typically involves a loan from a bank or financial institution, which is separate from a credit card. Your credit history and score will be important factors in securing a car loan, but a credit card is not required for this process.
What kind of credit can I get if I have a credit score of 529?
With a credit score of 529, one will not be able to get any prime or near-prime credit unless one obtains a co-signer with a notably higher credit score. The options available for one with a credit score of 529 include the following: * Subprime mortgage (at a very high interest rate) * Payday loans (at a very high interest rate) * Secured credit card (secured by a deposit, will help build credit score with ontime payments) * Auto title loan (if one owns the car and there is a reasonable amount of value in that car)
Can you rent a car with your credit card for your child who has no credit?
yes
Which of the following is an example of secured debt?
credit card
How can one rent a car with no credit card?
If you would like to rent a car but do not own a credit card you may be able to pay on a debit card instead. Rental companies understand that not everyone has a credit card and that this does not mean they have bad credit. All companies are different so it is best to check with them if they take payment via a debit card.
Will a financial institution accept an antique Ford car when applying for a secured corporate credit card?
No, a financial institution will not accept a car for a secured credit card. A bank requires a monetary deposit for a credit card. You can choose to sell your car to get money to put down, but it would not be wise as the car is worth much more than they are likely requesting you put down.
Do you need a deposit to rent a car from budget?
You need a valid credit card.
Do car rental agencies accept secured credit cards?
Yes, Car Rental Companies accept Secured Credit Cards. There are two types of cards. "Secured" and "Prepaid". Prepaid cards will be accepted at rental companies (or will be treated like a debit card). SECURE cards on the other hand are not like a credit card. The rental company has no way of knowing rather the card is secured or not.All secured cards say "debit", and have a Visa, Mastercard logo, etc. However, as with any credit card (secured or su-secured), they will take a deposit out on the card that covers the rental fee for your expected term. This will not be "charged", but "held" to your card until you return it, at such a time you can choose to authorize the payment to go through or pay the balance with a debit card, allowing the hold on the credit card to release.
Can you rent a car with a bank debit card?
No, only a credit card can be used. No cash in any form.
You usually have to be years old to rent a car?
Usually to rent a car you have to be 25 years old. Usually you are required to have a credit card as well.
Can you rent a car with a credit card and passport?
No... You will also need a valid driver's license...
Is there a car rental company that rents out to 20 year olds without a credit card?
Most don't but "rent-a-wreck" and "rent a lemon" do have less restrictive rental policies. You can also try checking with a used car lot in your area. Many used car lots will rent cars and not require a credit card.
Name something the clerk might ask you for when you rent a car?
drivers license, credit card
Why might a rental car company refuse to rent to someone?
bad credit, no credit card, age, no license, history of accidents
