is it normal to have to pay a balance when you first get a credit card?

Question

I apllied for a "V" total card about a year ago and I had my balance full, meaning i owed them money for the stupid piece of plastic.... I owed them 200 bucks and have used it monthly, by adding money to the card before i used it..

soo... do credit cards work this way, or is it just because it's my first card?

I never paid them in full, i guess i have to do that before it expires right?

they don't charge me to put money on it... does anyone have a card that they would recommend that doesn't do this?

Answer 1

Its a secured credit card.
A secured credit card requires that you deposit money with the issuing bank, and the bank will issue a credit card in the same amount for your use. Secured cards are guaranteed to be approved, because the bank has your deposit money in case you do not pay your balance. A secured credit card for bad credit operates much like a regular credit card. You receive a monthly statement, and you pay your minimum monthly payment or the balance in full each month. You are charged an interest rate, annual fee and possibly other fees for a secured credit card account. go to : http://www.credit-card-gallery.com and comapre all credit card and apply for a best one according to your credit.

Answer 2

You now have established credit by using this card, now you need to apply for a card which is not a "secured" card and dump this one. By the way, they should give you part of the money back that you used as security. Contact your state AG to see your state's rules on this.

Answer 3

Nope, you got ripped. It's a secured card which does absolutely nothing for you or your credit. Do they charge you to add money to it too?

Answer 4

Not normal for people with normal credit.

Answer 5

u got ripped