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Actually I think @simplicio might have hit the nail on the head. If you want to take out a line of credit from a bank, you have to be physically present at the bank to do so.

It would inconvenience SOME who don't live near a bank and shopping loan offers around will be harder than going on Quicken Loans, but it would also make it nearly impossible for the giant crime-rings that outside of the US to steal identities and open up credit cards.

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Every purchase you make with a credit card is a loan. Rapidly available, distributed credit is an amazing thing for society. I think both the genie is out of the bottle on the current credit paradigm. Forcing people to go to a physical location to conduct routine business should not be the primary solution to a problem in the 21st century.

Yes, but the line of credit is the credit card, not the purchase. You wouldn't have to go to a bank every time you wanted to buy something on a credit card, but you would have to go there to get a card.

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