Secured Credit

Voluntary surrender means the borrower returns collateral to the lender instead of waiting for involuntary repossession after default.

Property or funds pledged to support a debt, which can affect approval, pricing, and lender recovery rights.

Small installment product designed to build payment history and credit file depth, often for borrowers with thin or damaged credit.

Deficiency balance means the remaining debt still owed after collateral is taken and sold for less than the amount due.

Deposit-backed loan means a loan supported by money the borrower has on deposit, which helps reduce lender risk.

Upfront amount the borrower pays toward a purchase so less of the price must be financed.

Ratio comparing the loan amount with the value of the asset supporting the debt, often used to judge secured-loan risk.

Situation where the balance tied to secured property is greater than the property's current value.

Card account backed by a security deposit, often used to build or rebuild credit when unsecured approval is harder.

Secured-credit terms covering deposits, collateral, and lender claims that shape approval, pricing, and recovery.

Secured loan means a loan backed by collateral that gives the lender a stronger claim if the borrower does not repay.

Cash the borrower posts to support a secured credit account, often affecting approval, account terms, or credit limit size.

Lender's legal claim against pledged collateral, which becomes especially important if a secured debt goes into default.