unsecured credit

  

Definition

Credit extended only on the basis of the debtor's promise to repay, without any collateral security.

Use unsecured credit in a sentence

  • When the company took out a business credit card with a $50,000 limit, the manager was a little hesitant about having that much unsecured credit at the disposal of some unethical executives.

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  • Since I don't have many assets for collateral, the only type of credit that works well for me is unsecured credit, like credit cards

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  • The unsecured credit line had not been used yet so that was an acceptable method of generating cash at the time.

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