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Which has a similar effect to the cards not being available. If you're renting an apartment and riding a bus to work, what exactly are you going to put up as collateral? Organs?

If you live in Massachusetts, you might be able to soon:

https://www.technologyreview.com/2023/02/03/1067768/massachu...

I was really holding out hope this would be a story about piano playing

That's called debit card. Limit is the money in your back account.

It’s not quite the same thing. Secured credit cards exist, primarily for people with bad credit. e.g. https://www.hometrust.ca/credit-cards/secured-visa-card/

Personally, I already keep hefty minimum balances to avoid monthly fees on bank accounts that allow me to waive credit card annual fees. They could use that as credit card collateral.

That’s much worse than interest rates for the vast majority (that don’t have any assets to put up or can’t afford to actually lose them).

And much lower limits.