secured credit card
Word Rarity
Uncommon
Frequency: Zipf frequency 4.11 in modern English
26
Scrabble Score
17
Letters
5
Syllables
9
Unique Chars
Meaning
noun
A type of credit card that requires an upfront cash deposit from the cardholder, which serves as collateral and typically sets the credit limit.
Example Sentences
- "The plaintiff, a Florida corporation, offered a Massachusetts company the services of its resource system in issuing a secured credit card whereby the guaranteed cash surrender value of life insurance policies would be employed to secure credit card debt."
- "If you still need to build your credit history after owning a secured credit card, cash advance the maximum limit on that card, take the money to another bank, and follow the same procedure to get another secured credit card."
- "The message may be no more than a recording instructing the consumer to leave their name and address to receive an application, or provide the consumer with a list of banks that offer secured credit cards."