secured credit card

secured credit card definition - finance
A credit card that is linked to a savings account, which allows the credit company to accept customers with riskier credit histories. The funds contained in the savings account may be used if the cardholder doesnÂ’t make the required payments.

Webster's New World Finance and Investment Dictionary Copyright © 2003 by Wiley Publishing, Inc., Indianapolis, Indiana.
Used by arrangement with John Wiley & Sons, Inc.

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