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[Tangerine] Targeted - Tangerine Unsecured Personal Line of Credit, 0% Introductory Rate for 90 days

  • Last Updated:
  • Sep 21st, 2019 3:35 pm
[OP]
Jr. Member
Nov 21, 2012
141 posts
151 upvotes

[Tangerine] Targeted - Tangerine Unsecured Personal Line of Credit, 0% Introductory Rate for 90 days

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Tangerine
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Just got a pre approval offer in my insights. Seems like Tangerine is now offering an unsecured Line of Credit. 0% for 90 days, then prime + 6%.
498 replies
Deal Addict
Sep 14, 2015
1224 posts
747 upvotes
Mont-Royal, QC
my offer is 4.99% for 60 days
so, definitely YMMV offer...
Member
Apr 22, 2005
361 posts
122 upvotes
Maple
Wow prime+6% is very high!

Got the same offer but my interest after 90 days is prime+3% = 6.95%

Not worth it imo...better to go with MBNA 0% BT instead.
Sr. Member
User avatar
Oct 24, 2016
573 posts
385 upvotes
ON
hprockets wrote:
Aug 22nd, 2019 3:25 pm
Not worth it imo...better to go with MBNA 0% BT instead.
I recall that they have now increased the balance transfer fee to 3%? Although the interest rate remains 0%. Previously I think the transfer fee used to be 1%.

But yes, the loc rate would still be higher. The only time loc might make sense is if you were borrowing credit for a very short period.
Isn't it great to live in the 21st century where deleting history has become more important than making it.
Jr. Member
Apr 22, 2007
147 posts
11 upvotes
I got 0% for 90 days and prime+4% afterwards. I have never used line of credit before. Does it mean that I can borrow it for free for 3 months and put it to a high interest savings account?
Deal Addict
Dec 4, 2008
1159 posts
594 upvotes
Accept your pre-approval† offer by October 20, 2019

Here are the details of your pre-approval offer:

Your pre-approved credit limit of up to $10,000

Your introductory interest rate 0.00% for your first 90 days*.

Your annual interest rate after 90 days Tangerine Prime◊ + 5.50% = 9.45%
9.45%? Wow what the ****?
Deal Fanatic
Oct 1, 2004
5799 posts
501 upvotes
Toronto
Are you guys getting offers via email or in my account?
What limit are you guys getting?

Wonder what the lowest unsecured loc one can get? Best I got for HELOC is p+.5%.
Newbie
Nov 26, 2015
77 posts
55 upvotes
Edmonton, AB
I got 0% for 90 days and then prime + 1.50%.. Way better then my Scotiabank LOC...
[OP]
Jr. Member
Nov 21, 2012
141 posts
151 upvotes
mzdspd wrote:
Aug 22nd, 2019 3:47 pm
I got 0% for 90 days and then prime + 1.50%.. Way better then my Scotiabank LOC...
Lol why are people getting offers that kick the shit out of mine! My credit is flawless and I make 6 figures, yet i'm looking at close to 10% interest.
Newbie
Sep 5, 2018
27 posts
34 upvotes
This is what I got. I've never had a line of credit, does it make any sense just to open one just in case? I mean, it doesn't cost anything if you aren't borrowing anything, correct? I never carry a balance on anything.
Here are the details of your pre-approval offer:

Your pre-approved Credit Limit of up to $10,000

Your introductory interest rate 0.00% for your first 90 days*.

Your annual interest rate after 90 days Tangerine Prime◊ + 2.00% = 5.95%
Deal Addict
User avatar
Dec 4, 2007
3454 posts
1200 upvotes
Quebec
mzdspd wrote:
Aug 22nd, 2019 3:47 pm
I got 0% for 90 days and then prime + 1.50%.. Way better then my Scotiabank LOC...
that's an awesome rate for a non secur loc.
Deal Addict
Dec 12, 2003
1841 posts
288 upvotes
How many $$ are people being approved for?
[OP]
Jr. Member
Nov 21, 2012
141 posts
151 upvotes
YAMI wrote:
Aug 22nd, 2019 3:43 pm
I got 0% for 90 days and prime+4% afterwards. I have never used line of credit before. Does it mean that I can borrow it for free for 3 months and put it to a high interest savings account?
You could, but it wouldn't be worth the hassle.

If you had 10k at 2.25% for the 3 months wouldnt that only be like $60 made? And god help you if you forget to pay it back. Its a loan.

Plus I believe you still need to be making minimum payments on the balance which would be a lot if you max it.
Deal Addict
User avatar
Dec 4, 2007
3454 posts
1200 upvotes
Quebec
mcooler9 wrote:
Aug 22nd, 2019 3:50 pm
Lol why are people getting offers that kick the shit out of mine! My credit is flawless and I make 6 figures, yet i'm looking at close to 10% interest.
what about your debt ratio?
[OP]
Jr. Member
Nov 21, 2012
141 posts
151 upvotes
HyperTech wrote:
Aug 22nd, 2019 3:52 pm
what about your debt ratio?
Not carrying any balances but have a fresh mortgage and car loan... that's probably it. Oh well.

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