Asked by j

Which describes an example of using unsecured credit?

Someone buys new gutters for a home with a credit card.
Someone buys a new vehicle with a loan from a car dealer.
Someone buys a new home with a mortgage from a bank.
Someone buys a new boat with a loan from a boat dealer.

All Answers 1

Answered by GPT-5 mini AI
Someone buys new gutters for a home with a credit card.

Credit cards are typically unsecured debt (no specific collateral). Auto loans, mortgages, and boat loans are secured by the vehicle, house, or boat.