Why do secured credit cards have APRs (interest rates)?

I was looking into getting a secured credit card, meaning- I prepay for whatever I will be able to spend; so why is it that they have annual percentage rates for a card that doesn't even use their money? The definition of an interest rate is how much the borrower will pay on a LOAN- as this is no loan, I don't understand how this can be applied here?

Why do secured credit cards have APRs (interest rates)?

A secured credit card and a pre-paid card are two different things.

A pre-paid card like greendot is like a gift card. You pay money and it's loaded onto the card. You use the card and the balance goes down.

A secured credit card is an actual credit card account. You deposit $x which is held as collateral for the line of credit. You charge on the card then get a monthly statement billing you for those charges. You then pay all or part. If you carry a balance, you are charged interest.

Why do secured credit cards have APRs (interest rates)?

Because that's how they make money. If you want an interest free card, get a checking account with a debit card.

Why do secured credit cards have APRs (interest rates)?

I hope you get an answer to this as I would like to know.

Why do secured credit cards have APRs (interest rates)?

Here's the deal ( I work for a bank in credit card so here's the facts) opening a secured card is still considered a credit card, yes you determine the credit line according to your deposit but your money is used as collateral for the account to ensure that if you default the bank wont lose there money. Secured cards are for individuals with poor or no credit history . Typically after six months or one year you'll get your deposit back and your credit card will go unsecured. But your not using your own money while the card is secured.