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Old 05-22-2007   #1 (permalink)
JoseYero
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Default secured bank lines

i have worked with secured bank loans before. i basically earn their trust to get a credit line unsecured in the future. works best in small towns where you can get to know someone. forget it with a bank of america.
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Old 05-22-2007   #2 (permalink)
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We don't have Bank of America here(yes, I'm in America). I don't like unsecured anyway though so I'm not complaining.
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Old 05-23-2007   #3 (permalink)
JoseYero
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Default it depends

different places have different rules and procedures. i prefer small towns to big cities for banks.
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Old 05-27-2007   #4 (permalink)
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What you are probably referring to is using a credit union instead of a corporate bank, although you can do the same thing at a large bank if you just get to know the bank manager. The idea used to be to take out several secured loans from different banks and pay them off to build up credit to get an unsecured loan. It's an old trick that does work for business credit, too.
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