Business Loans

Tailored commercial financing with amounts up to $500K1,2 and flexible terms of up to 12 years1

Debt consolidation loan

Turn business debts into one fixed and affordable monthly payment

Existing business investment loan

Upgrade and expand your current business to increase your bottom line

New business opportunity loan

Buy into a business or develop passive income opportunities

Working capital loan

Boost your liquidity to finance all of your business needs and initiatives 

Personal Loans

Customized consumer financing with amounts up to $200K1 and flexible terms of up to 10 years1

Debt consolidation

Turn personal debts into one fixed and affordable monthly payment

Home improvement

Remodel your kitchen and bath, add a pool, or make other upgrades to your space

Other ways to use your funds

Pursue multiple goals with one comprehensive financial solution 

August 15, 2022

What is an Unsecured Credit Card?

What is an Unsecured Credit Card?

An unsecured credit card is a credit card that does not require you to put down any collateral. Instead, the credit card issuer will look at other factors like your credit history to provide you with financing. This makes them different from secured credit cards, which require upfront deposits from the cardholder to the issuer.

What are the benefits of unsecured credit cards?

The benefits of unsecured credit cards may include:

  • Lower annual fees
  • More competitive APRs (interest rates)
  • More options for perks including cash back and travel
  • No initial deposit
  • Revolving credit where you can pay the total balance off at the end of the month, move to a payment schedule, or move the payment to the next billing cycle (likely one month)


The potential benefits above will depend on the specific issuer and the credit card. At BHG Money, we provide a variety of unsecured personal credit card solutions designed to meet your needs. Choose between our lowest APR option and multiple cash back rewards cards.

One thing to note regarding unsecured credit cards is that it is important not to fall behind on your payments. Missing or late payments can result in negative impacts on your credit score.

What happens if you get declined for an unsecured credit card?

If you apply for an unsecured credit card and do not get approved, don’t worry. There are ways you can build your credit score and increase your chances of being approved for financing.

Keeping up with your current debts, for example, and making all your monthly payments on time can help you increase your score. These debts can include payments regularly reported to the credit bureaus like gym memberships, personal loans, and secured credit cards.

Now you know what an unsecured credit card is and what to keep in mind if you’re interested in applying for one. It’s also good to know that each lender has their own requirements and approval process.


Call our team to see what BHG Money can do for you.