Personal Finance

RBC Line of Credit at Prime rate promo

  • Last Updated:
  • Jun 3rd, 2019 10:32 pm
Member
Aug 9, 2015
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Vancouver, BC

RBC Line of Credit at Prime rate promo

As the title said... just got approved when my balance transfer promo rate is due soon :)

Not as attractive as 2% balance transfer fee.. but Unsecured LOC at prime is still an incredible rate!
Last edited by mangoCooper on Jun 1st, 2019 7:37 pm, edited 1 time in total.
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Why would you want to pay a 2% transfer fee?
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Aug 9, 2015
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titaniumtux wrote: Why would you want to pay a 2% transfer fee?
2% balance transfer fee + 0% interest = borrowing rate of 2%
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mangoCooper wrote: 2% balance transfer fee + 0% interest = borrowing rate of 2%
Why not 0%/10 months/1% BT fee? That's what's best in-market for now.
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Jan 17, 2019
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a little out of loop here. Could you give me more context on this? RBC has a promo for unsecured LOC or something?
Member
Aug 9, 2015
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Not all people get the 0%/10 months/1% BT fee... as far as I know, this RBC promo is for everyone, as long as you don't have a "bad" credit.

eksealant, this is an unsecured LOC.
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Dec 26, 2015
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mangoCooper wrote: Not all people get the 0%/10 months/1% BT fee... as far as I know, this RBC promo is for everyone, as long as you don't have a "bad" credit.

eksealant, this is an unsecured LOC.
did you get this rate by email or did you apply?
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mangoCooper wrote: Not all people get the 0%/10 months/1% BT fee... as far as I know, this RBC promo is for everyone, as long as you don't have a "bad" credit.

eksealant, this is an unsecured LOC.
All people in the nine non-QC provinces can get MBNA or CIBC cards with 0%/10 months/1% fee...if they can't, they probably can't get a uLOC, either.
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Veeshmack wrote: did you get this rate by email or did you apply?
I saw the ad on the ATM machine.. just call in
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titaniumtux wrote: All people in the nine non-QC provinces can get MBNA or CIBC cards with 0%/10 months/1% fee...if they can't, they probably can't get a uLOC, either.
Those are introductory promo and will expire in 10 months.
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titaniumtux wrote: All people in the nine non-QC provinces can get MBNA or CIBC cards with 0%/10 months/1% fee...if they can't, they probably can't get a uLOC, either.
Did something change recently? I'm in QC and have been taking advantage of the mbna and CIBC balance transfers...
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mangoCooper wrote: Those are introductory promo and will expire in 10 months.
Then keep getting new cards with intro BT offers.
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titaniumtux wrote: Then keep getting new cards with intro BT offers.
How many MBNA cards can you apply? How many do you now have?
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mangoCooper wrote: How many MBNA cards can you apply? How many do you now have?
I personally keep two MBNA cards (most of the time...I sometimes bump up to three). You can apply for as many MBNA cards as you like. But, you can only hold one affinity card at MBNA at a time, and must wait min three months between affinity cards if churning. You can have as many MBNA cards as you want, as long as each card has min $500 CL.
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do you have a pic of the promo or a number to call with reference number? My RBC account offer currently is Prime + 4.99% lol
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amplified wrote: do you have a pic of the promo or a number to call with reference number? My RBC account offer currently is Prime + 4.99% lol
Did you apply online, or have to go in for your line of credit. 4.99 good I say.
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titaniumtux wrote: I personally keep two MBNA cards (most of the time...I sometimes bump up to three). You can apply for as many MBNA cards as you like. But, you can only hold one affinity card at MBNA at a time, and must wait min three months between affinity cards if churning. You can have as many MBNA cards as you want, as long as each card has min $500 CL.
I got the BW card, was going to close it next week, and apply for it again. Your saying this wont work?

Also have the true line 12.9% thinking of getting the True line gold 8.9% is this a no go.

Titaniumtux what am I to doThinking Face
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amplified wrote: do you have a pic of the promo or a number to call with reference number? My RBC account offer currently is Prime + 4.99% lol
i didn't quote any reference number.. just told the CSR I saw an ad at the ATM machine and she helped me with the application over the phone.
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MrWalker wrote: I got the BW card, was going to close it next week, and apply for it again. Your saying this wont work?

Also have the true line 12.9% thinking of getting the True line gold 8.9% is this a no go.

Titaniumtux what am I to doThinking Face
The BW card is co-branded. The affinity cards are mostly university cards. AFAIK you should be fine to churn the BW. For the TL Gold, not sure whether you can hold both the TL and the TL Gold, but if you cancel the TL, you can definitely grab the TL Gold. My guess is you can have both. MBNA used to allow holding more than one of the same card, but then they changed that for the PP a year before it was grandfathered. I'd call in and ask whether you can apply for the TL Gold before applying and incurring a hard pull.
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Already have a HELOC with RBC Prime + 0.5% does it make sense to also get an unsecured LOC pretty sure I'd get approved Grinning Face With Smiling Eyes
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