AceH wrote:Another local bank, that I do NOT have an account with, has better deals on major credit cards. Could I still apply for one of their cards even though I don't have an account with them?
There is no reason to o with your local bank for a card except if they give you a good deal. Often the bank you already have a relationship with your your best choice because they know you are a good customer. If your bank won't give you a card then there is no reason not to try elsewhere.
AceH wrote:I applied with my bank but since I don't have much of a credit history (NOT BAD CREDIT, just NOT ENOUGH CREDIT) was offered a Secured Card BUT they want to "freeze/ hold" twice as much as the card limit you specify. Example: if I wanted a $1000 limit, they would "freeze/hold" $2000. I think that's a bit extreme. Don't you?
It's a little extreme but you probably don't have much choice. They need to protect themselves and if you have no history they have no reason to trust you.
AceH wrote:Final question: Am I doing harm to the little credit history I have by having these different institutions check my credit?
If both institutions check your credit then you will have multiple inquiries and that does a tiny bit of harm. But you can hardly avoid it if you are just starting out so I would not worry too much about it. Your best bet is just to get a card with a low limit and then use it wisely.