Personal Finance

Which is the best bank to get a Easy Line of credit

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Sr. Member
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Jul 6, 2007
553 posts
62 upvotes

Which is the best bank to get a Easy Line of credit

help me please I have a 650 score
12 replies
Deal Fanatic
Jul 1, 2007
7685 posts
551 upvotes
budfrogs wrote:
Jul 2nd, 2008 11:02 pm
Or personal banking forum: http://www.redflagdeals.com/forums/foru ... y.php?f=41

By the question you are looking at TD being their Line of Credit is called Easy line.
No, that's telephone banking.

With a 650 score and good income and otherwise unblemished (and not over-used) credit you probably could get a LOC from TD.
Newbie
Jul 2, 2008
78 posts
ontario
Thalo wrote:
Jul 3rd, 2008 12:04 am
No, that's telephone banking.

With a 650 score and good income and otherwise unblemished (and not over-used) credit you probably could get a LOC from TD.
You probably could at RBC was well but the rate wont be that great, probably prime +4.75 (because of your credit score) but its still better than a credit card.
Deal Addict
Feb 24, 2007
1364 posts
49 upvotes
I heard BMO was easier but that is based off of information from way back and that could differ from branch to branch. Really just hit up all the banks and go with the lowest offer.
Deal Expert
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Jan 27, 2004
34332 posts
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Toronto
try MBNA or Citibank.
Those companies are credit whores!
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[OP]
Sr. Member
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Jul 6, 2007
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UrbanPoet wrote:
Jul 3rd, 2008 3:26 pm
try MBNA or Citibank.
Those companies are credit whores!
Deal Addict
Feb 24, 2007
1364 posts
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Is 650 really that bad of a score? I think I used to have 620 awhile ago and I was still able to get all the cc's I applied for. The second I paid off the balances from all the BT cc offers it jumped up to the mid 700's. I think it is time to apply for more BT cc offers.
Deal Expert
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Jan 27, 2004
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as a last resort... you could get a Credit card with a 'low interest rate' option... That'll be easy enough for a 650 score.

RBC has a low rate visa @ 11.9% for $20/yr.
I imagine that all the big5 banks will have a similar/comparable product.

but try MBNA or Citibank... those guys hand out credit like candy!
MBNA gave me a $5400 M/C no problem... and the recently upped it to $10k.
My salary is in the low $30's. So they already gave me credit thats nearly 1/3 of my annual salary.
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Newbie
Jun 14, 2010
2 posts
Toronto
Daniel: Hello, I am happy to assist you today with your on-line application. May I have your name please?
you: my name is salim shaikh....I need help for a line of credit ?
Daniel: Hi Salim.
you: hello
Daniel: Let me inform you that MBNA does not offer Line of Credit, however along with the card upon approval you will receive two cash advance cheque's you can write the cheque in your name and transfer the money to your checking account and use the money according to your convenience.
Daniel: You can go ahead and apply for the Platinum Plus Credit Card.
you: rate of interest ?
There may be a problem communicating with Daniel. Please wait while your chat is transferred to another operator.
You are now being connected with Daniel, an Online Application Specialist.
Daniel: Hello, I am happy to assist you today with your on-line application. May I have your name please?
you: my name is salim shaikh....I need help for a line of credit ?
you: i know you dont do LOC
you: so what is the cash advance cheques amount ?
you: limit i mean...and rate of interest
Daniel: This card comes with the promotional interest rate of 0% for the first 10 months on balance transfers and cash advance cheques, and comes with no annual fee.
Daniel: The credit limit will be decided by MBNA, however it can go anywhere upto $100,000 upon approval .
Daniel: Once you receive your card upon approval you may contact our customer service department to increase or decrease your credit limit.
you: I understand....how about the amount limit for cash advance and the rate of interest for the cash advance only
Daniel: You can transfer upto 98% of the approved credit limit.
you: rate of interest..thanks
Daniel: Well this is also 0% interest rate for the first 10 months.
you: after 10 months
Daniel: The regular interest rate on the card is as follows:

Daniel: Retail: 17.99%
Daniel: Balance transfers:19.99%
Daniel: Access cheques and deposits: 19.99%
Daniel: Cash advances: 19.99%


you: thats too high.....
you: seriously I though you might have a product on lines with the line of credit....cash advance seems good option...but after 10 months it will kill me....
Last text message receivedDaniel: Well 10 month is a long duration you can certainly go head and consolidate all your debts and save lot of your hard earned money.
you: thanks....and what do I do after 10 months??? I need a product like a line of credit which I can use on long term ...not looking for temporary options...
Daniel: Well I cannot comment on that.
you: Great...thansk for your help...have a great day....
Daniel: If you are looking for a lower interest rate card, you can goahead and apply for the TrueLine Credit card.
Last text message received
Daniel: This card comes with a fixed low annual interest rate of 9.99% on purchases, balance transfers and cash advance cheque's, and comes with no annual fee.
you: sure...bye now
Deal Addict
Dec 30, 1969
1254 posts
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YVR, BC
I think Scotiabank is OK but you might need to provide verifications.
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