When I first applied to Bank of America for a credit card, I was denied because of a less than perfect credit, and, instead was offered a debit card or the way they put it: "a secured account!" This meant that it was backed-up with the moneys in the account! Well, at first, it worked so that, if a debit was presented by a business; the bank would pay the transaction IF THE MONEYS WERE IN THE ACCOUNT AT THE TIME; IF THE MONEYS WERE NOT AVAILABLE, THE BANK WOULD NOT HONOR THE DEBT AN WOULD SENT THE DEBT BACK TO THE MERCHANT UNPAID!... read full review »