What is credit card loan? I don’t understand it.
Understanding credit card loan is easy. It is nothing but a loan extended by your credit card provider or issuer. The loan is generally pre-approved and the amount is determined based on your creditworthiness, credit repayment history and credit usage.
Interestingly, there is no collateral attached to the credit card loan. It is an unsecured loan. You don’t have to wait too long for its approval and there is some flexibility in its repayment.
This should answer your query. If you have something more on your mind, please share.