Should i open a LOC acccount?
hey I need some financial advice...
my bank, CIBC, just offered me a $10,000 dollar line of credit.
The guy told me usually people need a credit check, income check, etc.. but told me I was preapproved.
I'm a student making about 10-15k/year...currently I am debt free, with 2 visa credit cards...
I don't have any real assets if that matters..
Does it make sense to take it out? It won't cost me anthing to use it, and it's 8% interest if I choose to use it..
Anything to ask/look for when i'm there?
Any advice would be helpful...pros and cons.. thanks in advance!
my bank, CIBC, just offered me a $10,000 dollar line of credit.
The guy told me usually people need a credit check, income check, etc.. but told me I was preapproved.
I'm a student making about 10-15k/year...currently I am debt free, with 2 visa credit cards...
I don't have any real assets if that matters..
Does it make sense to take it out? It won't cost me anthing to use it, and it's 8% interest if I choose to use it..
Anything to ask/look for when i'm there?
Any advice would be helpful...pros and cons.. thanks in advance!