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Tangerine

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

  • Last Updated:
  • Dec 2nd, 2020 10:43 am
[OP]
Jr. Member
Nov 21, 2012
146 posts
175 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%.
606 replies
Deal Addict
Sep 14, 2015
1555 posts
1233 upvotes
Mont-Royal, QC
my offer is 4.99% for 60 days
so, definitely YMMV offer...
Member
Apr 22, 2005
426 posts
222 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.
Deal Addict
User avatar
Oct 24, 2016
1286 posts
1203 upvotes
ON
hprockets wrote: 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.
”If you buy things you don’t need, soon you will have to sell things you need.”
Jr. Member
Apr 22, 2007
189 posts
41 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
1999 posts
1657 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
6650 posts
986 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
78 posts
57 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
146 posts
175 upvotes
mzdspd wrote: 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
95 posts
150 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
4168 posts
1823 upvotes
Quebec
mzdspd wrote: 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
2563 posts
1182 upvotes
How many $$ are people being approved for?
[OP]
Jr. Member
Nov 21, 2012
146 posts
175 upvotes
YAMI wrote: 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
4168 posts
1823 upvotes
Quebec
mcooler9 wrote: 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
146 posts
175 upvotes
HyperTech wrote: what about your debt ratio?
Not carrying any balances but have a fresh mortgage and car loan... that's probably it. Oh well.
Deal Addict
User avatar
Dec 4, 2007
4168 posts
1823 upvotes
Quebec
mcooler9 wrote: Not carrying any balances but have a fresh mortgage and car loan... that's probably it. Oh well.
yep, might explain...

800 bacon score here,

over 100k of credit without any balance

no mortgage on my house, no car loan...

here the offer i have

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◊ + 4.00% = 7.95%
Sr. Member
Mar 25, 2005
650 posts
69 upvotes
Bowmanville
they offered me 7k at 0% for 90 days and then Prime + 6 afterwards.

Interesting considering they offered me a credit card with a $29k limit just a month ago that I turned down.
Deal Addict
User avatar
Dec 4, 2007
4168 posts
1823 upvotes
Quebec
hprockets wrote: 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.
i thought mbna ended all 0% bt?
Sr. Member
Mar 25, 2005
650 posts
69 upvotes
Bowmanville
HyperTech wrote: i thought mbna ended all 0% bt?
Nope - just logged into my account - have an offer sitting there for 0% til April - 2% BT fee.

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