which type of credit is most likely to be unsecured? \n auto loans \n credit cards \n mortgage loans \n…
which type of credit is most likely to be unsecured? \n auto loans \n credit cards \n mortgage loans \n personal loans
Answer
Brief Explanations:
To determine which credit is most likely unsecured, we analyze each option:
- Auto loans: Secured by the vehicle.
- Credit cards: Typically unsecured, as they don't require collateral (though some secured cards exist, standard credit cards are unsecured).
- Mortgage loans: Secured by the property.
- Personal loans: Can be secured or unsecured, but credit cards are more commonly unsecured by default. Among these, credit cards are most likely to be unsecured.
Answer:
B. credit cards