National City secured Visa

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Anyone have any real-life experiences with National City's secured card? I have read the security agreement over and over again but I am still confused. Do they use your deposit only if you default? If I don't default, then that money stays there and they refund it to me when the card goes unsecured? I think I'm going to send in the minimun $250 to start and then add more later if i need to. I plan to just charge dinner a time or two each month and pay it immediately. Then, in 12 months, maybe they'll convert to unsecured and send me the money back. Is this right?

I would like some input before I mail my application. Also, is it true that it takes a month to get the card?!?!

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