>secured line of credit
>implying I want to allow the bank to hold my own money as collateral for a loan
I just really really don't like the idea of this. I think it's beyond absurd. A bank should be able to give out a small line of credit to first time people without needing to do this. They've the fucking bank, they have enough money to take the minuscule risk of giving me a $200 line of credit.
I have been with my bank for 10 years. Over that period of time, I have maintained a balance between $15,000 and $25,000 at all times. I've never overdrafted or made any stupid mistakes. I put a steady paycheck into the account every single week. I am as low risk as it gets.
I inquired about a credit card. They told me that because I'd never had credit before, the ONLY thing they could do for me is give me a secured line of credit for $200 for 6 months, then upgrade me to an unsecured $500 line of credit. What a fucking joke. I find that insulting, that they couldn't take a quick look at my past 10 year history with them and see that I'm not a high risk borrower. I told them to go fuck themselves and emptied my account on the spot