Personal Finance

Tangerine non-secured LoC?

  • Last Updated:
  • Dec 12th, 2018 11:19 am
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Newbie
Dec 3, 2016
56 posts
37 upvotes
Got one too! 2.99% for 90 days then prime plus one thereafter. 25k limit.
Deal Addict
User avatar
Dec 17, 2008
2223 posts
1027 upvotes
Winnipeg
Do you guys have lots of savings with Tangerine? Or does your direct deposit go there? Trying to figure out what they may have used to pick a target group
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Sr. Member
Jan 23, 2017
914 posts
735 upvotes
Calgary
Was offered 3.99% for 90 days, then prime + 3%, on $10k LoC.
Deal Expert
User avatar
Sep 4, 2003
18474 posts
108 upvotes
Toronto
Mine offer..

Here are the details of your pre-approval offer:

Your pre-approved Credit Limit of up to $30,000.

Your introductory interest rate 2.99% for your first 90 days.*

Your annual interest rate after 90 days Tangerine Prime + 1.00% = 4.95%.
Jr. Member
Jan 25, 2008
189 posts
25 upvotes
Got offered 30k LOC a well. Would it be wise to accept it if applying for a mortgage in the next year or two? It will be unused and used more for extreme emergencies.
Deal Addict
Apr 5, 2016
2813 posts
1543 upvotes
Calgary/Vancouver
I'm tempted to just open a tangerine account just to wait for this offer.
Current Fido customer.
Ex Koodo customer.
Member
Jan 4, 2017
305 posts
140 upvotes
Are you guys receiving these offers because you have mortgages with Tangerine? They don't have a personal unsecured line of credit listed on their site.
Sr. Member
Feb 17, 2017
725 posts
440 upvotes
Calgary
zcypher wrote:
Nov 29th, 2018 1:48 am
Are you guys receiving these offers because you have mortgages with Tangerine? They don't have a personal unsecured line of credit listed on their site.
They seem to now, probably trying it with some existing customers before they advertise them again.
Deal Addict
Jan 21, 2014
3398 posts
1282 upvotes
Should I accept the offer? I already have both ULOC & HELOC with other banks which I don't really use at the moment. I don't know if adding another ULOC (I probably won't use) makes any sense or not
Sr. Member
Aug 27, 2004
914 posts
8 upvotes
Toronto
This is a new product and they're doing a test run. I've been requesting this and nagging them for 2 years now.

I don't know their criteria for selection; I don't have mortgage with them but I do have my paystubs going into tangerine and it's my main banking account for everything. I was regretting that decision for a long time actually because Tangerine didn't have LOC and I was sure if I had the same volume and amount of transactions in any of the big banks I would have gotten offers for LOC from the big banks.

I was actually planning to move most of my banking off of tangerine sometime soon for this exact reason but now I'll happily stay.
Sr. Member
Mar 21, 2013
913 posts
622 upvotes
EDMONTON
I only carry 16k in RRSP investments with them and I got the best offer. And a Tangerine credit card that I rarely use. If that helps.
Last edited by Blubbs on Nov 29th, 2018 10:38 am, edited 1 time in total.
Jr. Member
Mar 14, 2014
116 posts
158 upvotes
How does this uLOC compare to the same products being offered by other institutions? I'm curious to know what features the Tangerine uLOC offers such as ability to overpay, e-Transfers, etc,. As already mentioned, the promotional borrowing rate is low and long term it's P+1%, which is very good.
Member
Jan 4, 2017
305 posts
140 upvotes
Wow, well that's interesting and pretty surprising if they are actually offering personal unsecured LOC at P+1%!
Jr. Member
Apr 28, 2012
109 posts
62 upvotes
Vancouver, BC
I only have the standard chequing and savings accounts, and keep my money in EQ unless Tangerine have a better offer available. I was offered $15k at 4.99% for the first 90 days, then P+4%. Unsurprisingly won't be taking them up on it, but slightly surprised they offered it all, as I have no credit products with them (although a high credit score).
Sr. Member
Nov 8, 2017
628 posts
260 upvotes
BRKAMZN wrote:
Nov 28th, 2018 3:20 pm
I guess I am the poorest of the bunch. I got Prime + 4 and 3.99 for 90 days, and only $10k limit.
it's not like it's "your" $ anyways , so you're just getting "less" of not your $. Lol

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