Secured Cards
Since most banks will not offer credit lines without some kind of insurance, they offer 'secured' offshore credit cards as an alternative. Secured offshore credit cards involve depositing a certain amount (usually 125-150% of the credit line) to cover what you borrow. For a credit line of 20,000 USD for example, a deposit of 25000-30000 USD may be required. This aside, the card operates to all intents and purposes like a normal credit card, and most carry a major label such as Visa or MasterCard.
Read more about this topic: Offshore Credit Card
Famous quotes containing the words secured and/or cards:
“His [the President’s] earnest desire is, that you may perpetuated and preserved as a nation; and this he believes can only be done and secured by your consent to remove to a country beyond the Mississippi.... Where you are, it is not possible you can live contented and happy.”
—Andrew Jackson (1767–1845)
“Oft have I played at cards and dice,
Because they were so enticing;
But this is a sad and sorrowful day
To see my apron rising.”
—Unknown. The Rantin Laddie (l. 1–4)