how do secured credit cards go to collections?

I put the money upfront as a deposit so if I decide to stop paying, they can just take my deposit. Why am I seeing secured credit cards marked as collections on my credit report 


the entire balance was sent to collections  with credit one 

5 Answers

  • Anonymous
    4 weeks ago

    Late fees & interest??

  • 4 weeks ago

    Because you're still required to pay.  The deposit is to protect them, not you.

  • 4 weeks ago

    If you owe more than the deposit (including late fees and interest) then they'll take you to court for the difference.

  • 4 weeks ago

    Your balnace was more than the deposit perhaps?

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  • 4 weeks ago

    Secured cards still charge things like interest and late fees, so it is possible to owe more than your deposit on a secured card.  If the amount you owe exceeds your deposit, the card issuer may choose to send the remaining amount to collections.

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