What is the difference between secured and unsecured credit loans?

Answers:1   |   LastUpdateAt:2012-09-27 19:47:02  

Question
Laney
Asked at 2012-09-22 11:19:02
I'm looking at gettting my first loan and need to know what the difference between a safe and an unsecured credit line .
Answer1AkesaAnswered at 2012-09-27 19:47:02
Secured loans are backed by assets as collateral. Unsecured credit lines are not backed by collateral . You may prefer a secured line of credit to qualify for a higher credit line or better terms with your lender .
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