Secured Credit Card

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Secured Credit Card

Secured credit card means credit card issued against security maintained with the respective banks. Normally banks issue secured credit card against FDR or other security. Credit limit will be 90% of the security value or the highest amount of card limit set by the bank. Card member cannot encash FDR/other security as long as he/she uses the card. For encashment of the FDR/other security, he/she needs to close the card. This card is very easy to process, since the assessment of cardholder’s income or earning does not require here. All credit card issuing bank usually issue secured credit card.


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