What is the difference between a secured credit card and an unsecured credit card?
A secured credit card is secured by a deposit that you make to the credit card issuer’s bank. Deposits usually range anywhere from $200 to $5000. You get to use 100% of the funds available on your deposit. Secured credit cards are best for people who are having difficulty getting an unsecured credit card because of bad credit or no credit history. An unsecured credit card is credit extended to your with no deposit. You spend the money and then make monthly payments. Question: What are the best low interest rate unsecured credit cards for personal and business use? The following unsecured credit cards have the best and lowest interest rates*. • Blue Cash from American Express – 9.99% ARR with 0% interest rate for the first 12 months. • Blue Sky from American Express – 9.99% ARR with 0% interest rate for the first 12 months. • IberiaBank Visa Gold Cash Back Rewards Card – 9% ARR with 0% interest rate for the first six months. • SimplyCash Business Card from American Express – As low as P
