What is the difference between a secured and an unsecured offshore credit card?
– Usually a significant amount of your hard-earned money down the drain! The majority of the offers you will find, promising you an ‘anonymous, unsecured and 100% approved’ credit card fall firmly into the too good to be true camp! Drawn by the promise of complete anonymity, the ‘low’ application fee, and the absence of security deposit, the unwary investor eagerly remits his initial administration fee, and in the majority of cases, this is the last he hears of it. Very rarely do reputable institutions offer unsecured credit cards, and then only to well known clients with substantial assets. As the saying goes: ‘You get what you pay for’ (or rather, you don’t get what you don’t pay for!) Unless you fall into the above category, you would be wise to ignore the pitches of unsecured offshore credit card promoters, and resign yourself to the idea of providing a security deposit in exchange for a genuine and legitimate offshore card.
