Please share your Unsecured Line of Credit interest rates and lenders
RBC jacked my LOC rate up a few years back and last week, TD mailed a notice stating that it will be increasing my wife's rate so much so that both LOC will be close to 8%. I know this is borderline high and our credit scores are decent 710 / 750.
I did write RBC a note through the secure messaging center a few months ago and they said they are willing to review our financial situation but I'm holding off until a few months after refinancing of our property is complete and 70-80% of our outstanding obligations are paid down so we are in a better position in negotiating.
Who do you bank with and my I know your LOC interest rates (APR or premium to the prime rate)?
Any tips on how to re-negotiate down these LOC interest rates? Do I have to add a few product lines or up my banking packages up a notch?
I don't foresee using them much and will be keeping them close to zero very soon but just in case we need to tap into them to help on a family member's obligations (credibility is 100% and my assistance will be entirely voluntary).