FlyerTalk Forums - View Single Post - Chase closed my credit card account(s) [Archived 2013-mid 2019]
Old Aug 26, 2016 | 12:13 pm
  #1185  
josephstern
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Originally Posted by STS-134
Having a *Chase* mortgage seems like it could help, as if you go bankrupt, they could probably seize your house and sell it to recover the money, provided that you have a low enough LTV on your loan.
I don't think so. A mortgage is a secured loan - the house is the security. But only for that specific loan.

A credit card is an unsecured loan. Thus the higher interest rate.

There's no way a bank could use security for one loan to pay another.
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