There are usually two types of credit available to consumers: unsecured credit and secured credit.
Unsecured credit is given without having collateral given for the debt, e.g credit cards, cell phone bills, personal loans or student loans.
Secured credit is a loan that was given where there a tangible piece of property that can be seized if the debt is not paid. e.g. if you stop making payments on your car or home, then the loan or mortgage holder would come and seize the property.