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106. What is a guaranteed card?




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This article is from the Credit cards and Consumer Credit FAQ, by adams@spss.com (Steve Adams) with numerous contributions by others.

106. What is a guaranteed card?

It's another name for a secured card, typically offered through 900
numbers. Though technically legal, these are not a good deal for
the consumer when they carry an application fee or a 900-number
charge; see section 2, "Good deals, bad deals."

 

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