Unbanked

The term unbanked is used for people who prefer to use cash, money orders, or prepaid debit cards for all of their transactions. An unbanked person can have a variety of reasons for not owning a bank account. The unbanked trend in America is a growing concern to the credit card industry that often relies on bank account attachments to recover the funds owed on their terminated credit card accounts.

Click for the full glossary of credit card terms.

Similar Articles:

Credit Cards

Disclaimer: This content is not provided or commissioned by American Express, Visa, MasterCard, Discover, or any other credit card company or issuer. The opinions expressed here are the author's alone, not those of any credit card company or issuer, and have not been reviewed, approved or otherwise endorsed by any credit card company or issuer. Credit Card Chaser may be compensated through various affiliate programs with advertisers. As always, Credit Card Chaser is an independent website commmitted to helping people research credit card offers and find the best credit card!