I wonder if there is a market for secured credit cards with low interest. Maybe backed by a HELOC or stock portfolio. By lowering the default risk significantly lenders should be able to offer loan values closer to car loan numbers than loan shark numbers.
I think people with enough assets to secure such a card might be those less likely to carry a balance, but maybe a lower interest rate would entice them.
>I wonder if there is a market for secured credit cards with low interest. Maybe backed by a HELOC or stock portfolio.
What's the difference between that and transferring your credit card balance to your HELOC? You don't pay any interest on credit cards within the grace period on your bill, so this only adds marginal convenience
> I wonder if there is a market for secured credit cards with low interest. Maybe backed by a HELOC or stock portfolio.
I would think the overlap between people who need to carry a balance on their credit card and those who have a HELOC (own a property with significant equity) or have a non-trivial stock portfolio, is rather small.
I think people with enough assets to secure such a card might be those less likely to carry a balance, but maybe a lower interest rate would entice them.