Final answer:
The statement that a secured credit card is only issued to people without a savings account is false; these cards are for those looking to build credit and require a deposit that serves as the credit line. The Panic of 1819 did not increase faith in the Second Bank of the United States — that statement is false.
Step-by-step explanation:
The belief that a secured credit card is only issued to people who do not have a savings account is false. A secured credit card is typically available to individuals looking to build or improve their credit history. It requires the user to deposit a certain amount of money as collateral, which becomes the credit limit for that account.
This deposit is the security for the lender and can be made regardless of whether the individual has a savings account. As part of personal financial management, understanding the difference between various financial products is essential, including that credit cards, debit cards, and smart cards are different methods of moving money during transactions.
The Panic of 1819 did not increase the American people's faith in the Second Bank of the United States; rather it is false that it did. The economic downturn caused by the Panic of 1819 led to distrust in the Second Bank and broader financial systems of the time.