Please share your Unsecured Line of Credit interest rates and lenders

Speedy1 wrote: ↑ Yes, 0% on all cards for 9 to 18 months. But there is a 1 to 2% up front fee for each card.

baxiaofei wrote: ↑ Do u mind sharing the best balance transfer card? Which one is 0 interest for 18 months with only 1% of one time fee. Thank you!

Speedy1 wrote: ↑ YMMV, this was with one of BMO credit cards.

I had like 4 BMO credit cards at that time. If I remember correctly, 1 card had offer of 2% upfront fee for 12 months and 1 had offer of 2% upfront fee for 18 months.

I moved my credit limit from 3 cards to the 1 card with the 18 month offer, thus I have a $50k credit limit.

For the 1% fee, I got it with my 2 CIBC credit cards ($30k and $40k credit limits) for 12 months. YMMV, I don't think CIBC offers 1% fee anymore. I did it about 4-6 months ago and I am an imperial service client. CIBC had a BT offer on my credit cards every month.

My MBNA balance transfer I think was also at 1% for 9 months or something like that.

MayorOfToronto wrote: ↑ Two questions

1) does Tangerine still not allow for LoC limit increases? They gave me a great rate a few years ago but the amount is basically nothing.

2) for those getting pre-approved with CIBC, do you do your primary banking with them? What other products of theirs did you use and for how long before receiving a pre-approval?

I want to get a CIBC LoC as I understand it can be used as a chequing account.

Speedy1 wrote: ↑ YMMV, this was with one of BMO credit cards.

I had like 4 BMO credit cards at that time. If I remember correctly, 2 cards had offer of 2% upfront fee for 12 months and 1 had offer of 2% upfront fee for 18 months.

I moved my credit limit from 3 cards to the 1 card with the 18 month offer, thus I have a $50k credit limit.

For the 1% fee, I got it with my 2 CIBC credit cards ($30k and $40k credit limits) for 12 months. YMMV, I don't think CIBC offers 1% fee anymore. I did it about 4-6 months ago and I am an imperial service client. CIBC had a BT offer on my credit cards every month.

My MBNA (Best Western) balance transfer I think was also at 1% for 9 months or something like that. Got a similar offer on my MBNA Alaska Air WE card but I didn't take it as I will be canceling this card soon since fyf is up.

SHR3WD wrote: ↑ Hi All,

Does any know whats the max uLOC BMO does?

I am looking for 70 80k limit. I do have a preapproved 10k with bmo but wondering if the best option is to make increase limit request with BMO or try someone new like National Bank under their professional plans / uLOC? Is it ok to try both the same day and risk two credit checks? I heard if you try to heloc locs around the same time it doesnt hurt too much.

My credit score is 768. No debts. Multiple credit cards with upto 100k limit aggregated with 0% utilization. 1 BMO LOC with 10k.

Speedy1 wrote: ↑ Why not check to see if any of your credit cards has a x% upfront fee and 0% interest for x number of months. Likely cheaper than getting uLOC.
A lot of credit cards seem to be quite aggressive with this 0% balance transfer promos. I have been getting one on my CIBC credit cards every month for like the last 9.
I combined my BMO credit card limits and now have a ~$50k balance transfer promo with them.
Catch is to be able to pay it off when promo ends. Credit card companies are betting that some can't pay off so they can charge ~20% plus interest.

SHR3WD wrote: ↑ I have some BT offers as well but i dont think Credit cards have the same flexibility or convenience. For example getting cash or bill pay options. I dont neccessarily have 5 digit expenses that can be charged through credit cards.

Unless there is a work around for that as well?

demanche1 wrote: ↑ Simplii gave me a new personal loc with a prime rate last month.

I’ll probably use it to help finance my next car, rate is lower.

aznaro wrote: ↑ Was there special circumstances to get this? Simplii is advertising rates as low as Prime + 2.9% when I called so I didn't bother making an application.

demanche1 wrote: ↑ Nope.. but when they called to go through the application, first thing I asked was the rate. I didn’t end up using it for the car we bought — just bought it with savings, but it’s now my emergency fund.

MayorOfToronto wrote: ↑ Two questions

1) does Tangerine still not allow for LoC limit increases? They gave me a great rate a few years ago but the amount is basically nothing.

2) for those getting pre-approved with CIBC, do you do your primary banking with them? What other products of theirs did you use and for how long before receiving a pre-approval?

I want to get a CIBC LoC as I understand it can be used as a chequing account.

Kresher wrote: ↑ Prime + 2.5% at Scotiabank for $6000 pre-approved

Kresher wrote: ↑ Prime + 2.5% at Scotiabank for $6000 pre-approved

SHR3WD wrote: ↑ Hi All,

Does any know whats the max uLOC BMO does?

I am looking for 70 80k limit. I do have a preapproved 10k with bmo but wondering if the best option is to make increase limit request with BMO or try someone new like National Bank under their professional plans / uLOC? Is it ok to try both the same day and risk two credit checks? I heard if you try to heloc locs around the same time it doesnt hurt too much.

My credit score is 768. No debts. Multiple credit cards with upto 100k limit aggregated with 0% utilization. 1 BMO LOC with 10k.

Advantage for individual members / Financing your projects

Lines of credit – Take advantage of a flexible financing solution

To get financing tailored to your needs, while making the most of reduced rates granted on the:

Desjardins Personal Line of Credit: prime rate
Versatile Line of Credit: prime rate