LMAO...go figure...the ONLY one that doesn't allow positive balances (PBs).
lol...there's nothing TO convert it to. It's an LOC. That's it. Enjoy!
Bingo!I know with the checquing i need to keep it above $1500 i think to avoid paying fees, so you're saying in the loc, there is no minimum... right?
Bingo x2!from the looks of it, there is no need to have a checquing acount... i have it to make checques about 5 times a yr and i have an pre authorized payments on it... so everything can be done on the loc.
Here's the beauty....Unlike Chequing Accts which Banks don't make money on you if you use them (hence their only source of revenue is to charge service fees, or cloak those fees in 'waived service charges' if you forfeit interest on maintaining a min balance (as you described)...LOCs are a money-making venture all around, so Banks PROACTIVELY SEND you Cheques to use FOR FREE LOLz.Can we still order personalized checques on this LOC, i like having a carbon copy to avoid looking up the cheques and have a log in case i need it later...
...if you can guarantee that return everybody would be doing this. as mentioned by jerryhung, you lucked out. Had the circumstances been different, you wouldn't be bothering disclosing of your $0 profit (at best, more likely significant LOSSES at norm) AND the need to pay interest $240 regardless
Good point. Take-home? Use it fairly?gq_fuzion wrote: ↑where i definately agree with this tactic, the banks also have the right to revoke your LOC if they can prove you are using it as a chequing account to evade service charges
your LOC's are reviewed generally on an annual basis
depending on who's reviewing it, you may get lucky
banks do not want their LOC's in credit balances
Would be good to find out.
RFD really needs to look into installing the latest version of vBulletin along with a few more plug-ins. This is definately one of those threads I'd give mad reputation props for. Did my barage of pms get your thread-writing juices flowing tng11? ?
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