What is collateral backing?

🤔 Understanding collateral A loan that's backed by collateral is a secured loan (because it offers security for the lender). Some loans come with collateral built-in. If you take out a loan for a car or a house, that asset is the collateral on that loan.

learn.robinhood.com - What is Collateral? - Robinhood Learn

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What are the pros and cons of collateral?

As a borrower, it might seem both inconvenient and intimidating to put up collateral for a loan. After all, what if you can’t afford to make your monthly payments, and the lender seizes your collateral? While that’s certainly a possibility, there are some advantages for you as well. Secured loans often come with a lower interest rate than unsecured loans (those without collateral). You can assume that the more risk a lender takes on by lending you money, the higher your interest rate is going to be. So when you offer collateral as a form of security, they’re likely to give you a lower interest rate. Consider the difference in the average interest rate between two popular types of loans. Auto loans are typically secured loans because the car you’re buying is the collateral. The national average for a car loan in 2019 was 4.21%. A personal loan, on the other hand, is often unsecured. The average rates for this type of loan ranged from 10% to 28% in 2019. But keep in mind, the 10% rate was only available to those with excellent credit. With the national average credit score being around 703, most people would only have access to an interest rate of 13.5% to 15.5%. Another advantage of collateral-backed loans is that they provide the opportunity to build credit for people who wouldn’t normally qualify for a regular loan or credit card. One way financial institutions do this is by offering secured credit cards. Unlike a regular unsecured credit card, a secured credit card requires you to deposit money before you start charging. You make monthly payments as you would on a regular credit card, but the company holds your cash in case you don’t pay them back. After a certain period of time, you may be able to upgrade to an unsecured credit card and get your cash back. The purpose of a secured credit card is to help those with poor credit build up their creditworthiness so they can be eligible for other types of loans and credit in the future. Despite the potential savings they provide, collateral-backed loans do pose some inherent risks. If you can’t afford to make the payments at some point, you risk losing the associated asset like your car or even your home. Think carefully before using anything as collateral that you can’t afford to lose. The other potential problem with collateral-backed loans is that they’re only available to those that have a valuable asset to use. For someone with low income and few assets, getting a loan of any kind might be a huge struggle.

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What are female gamers called?

dictionary.com - Gamer girl Definition & Meaning - Dictionary.com

usage note for gamer girl

The term gamer girl is used by some to distinguish female gamers from the traditional male gamer demographic, but not without controversy. Many girls and women who play video games would prefer to leave their gender out of it. They just want to be called gamers, and see any other label as diminishing their gaming abilities or membership in the gaming community. Other female gamers embrace the term and self-identify as gamer girls. A different use of gamer girl is sexualized and disrespected. Often called “fake gamer girls” or “gamer gurls,” these women are accused of feigning interest in video games to attract male gamers. Most people use the terms gamer girl and girl gamer interchangeably. For people who associate the term gamer girl with the negative “fake” stereotype, the alternative girl gamer is a way to emphasize the gamer part of their identity. Girl gamers are a kind of gamer, but gamers first and foremost. On the other hand, the word order girl gamer is criticized for introducing gender where it should be irrelevant. Just as the label “woman lawyer” detracts from a qualification-based recognition of a lawyer who is female, so does girl gamer. Use these terms with caution. Either one may be considered disparaging when used to label a gamer other than yourself. Referring to female gamers simply as gamers is the safest choice.

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