Secured credit

**Secured Credit**

Secured credit is a type of credit that is backed by collateral, such as a savings account, vehicle, or other valuable assets. This collateral reduces the risk for lenders, making it easier for borrowers to qualify for credit, especially if they have a limited or poor credit history. Common examples of secured credit include secured credit cards, auto loans, and home equity loans. Using secured credit responsibly can help build or rebuild your credit score over time.