MANAGEMENT

Detailed explanation-1: -An unsecured loan requires no collateral, though you are still charged interest and sometimes fees. Student loans, personal loans and credit cards are all example of unsecured loans.

Detailed explanation-2: -Common types of unsecured loans Revolving loans: These are loans that the borrower can use and repay repeatedly. Credit cards and personal lines of credit are examples of this type.

Detailed explanation-3: -Most credit cards are unsecured. Unsecured credit cards tend to come with better perks and rewards, lower fees and lower interest rates.

Detailed explanation-4: -Unsecured loans are debt products offered by banks, credit unions and online lenders that aren’t backed by collateral. They include student loans, personal loans and revolving credit such as credit cards.

Detailed explanation-5: -While the most common type of unsecured loan is personal loan, there are other loans such as education loans or student loan, overdraft protection line of credit, paycheck lenders, credit cards.