I took 25000 but the first 3 months it’s obly 25$ per paymentflaming homer wrote: ↑ Yes, the payment is automatically scheduled on first of the month, you should see it pop up November 1
As for $25 monthly payment, you only took out $1250 ?
I took out $10K, expect my next 3 payments $200, $196, and $192.08
Tangerine
Targeted - Tangerine Unsecured Personal Line of Credit, 0% Introductory Rate for 90 days
- SCORE+84
- ratatapa
- Deal Addict
- Nov 28, 2013
- 2735 posts
- 1157 upvotes
- Quebec
- S0lidus
- Deal Addict
- Sep 9, 2015
- 1432 posts
- 1054 upvotes
- Nanaimo
I called and they said the loc is something they're rolling out in the near future. I don't have this in my offers so I can't get it at all.
- jellytime
- Deal Addict
-
- Feb 19, 2014
- 3295 posts
- 2172 upvotes
- Langley
With this promotion, I got a $15k LOC.
How exactly does it work?
I confirm the LOC, and when do I have access to the money, and how do I have access to it?
Am I able to transfer it to my TD bank right away?
How exactly does it work?
I confirm the LOC, and when do I have access to the money, and how do I have access to it?
Am I able to transfer it to my TD bank right away?
- TIPIT
- Deal Addict
-
- Aug 31, 2005
- 1394 posts
- 285 upvotes
- Quebec City
It takes a few clicks to get the account opened, and yes the money is available right away, ready to be used or transferred wherever you want.
Anew account appears in your accounts list, you just move the money the same way you do now with checking or savings account.
Balance is 0 at first, and increase when you take money out (it's a "loan" account)
- TIPIT
- Deal Addict
-
- Aug 31, 2005
- 1394 posts
- 285 upvotes
- Quebec City
Depends of your account. Some have "Interest only" (min. 25$)", and others have "Interest + 2% of balance" or something similar.flaming homer wrote: ↑ Yes, the payment is automatically scheduled on first of the month, you should see it pop up November 1
As for $25 monthly payment, you only took out $1250 ?
I took out $10K, expect my next 3 payments $200, $196, and $192.08
- jellytime
- Deal Addict
-
- Feb 19, 2014
- 3295 posts
- 2172 upvotes
- Langley
Exactly the information I was looking for. Thank you for your insight!TIPIT wrote: ↑ It takes a few clicks to get the account opened, and yes the money is available right away, ready to be used or transferred wherever you want.
Anew account appears in your accounts list, you just move the money the same way you do now with checking or savings account.
Balance is 0 at first, and increase when you take money out (it's a "loan" account)
- TorontoEh
- Deal Fanatic
-
- Dec 11, 2005
- 8941 posts
- 1502 upvotes
- TO
Not sure if it's worth even with a HISA like b2b because all is taxable at your projected earn rate at tax time. I mean taking it out for 90 days tax free from TAN to move to a HISA to earn interest.
"You can't soar with the eagles if you're hanging with the turkeys - Gary Kent
- veilleuxpbd
- Newbie
- Aug 4, 2016
- 26 posts
- 35 upvotes
- quebec city
I found a way to get my offer back. In the accounts section you can select ''open new account'' and under more info on their PLC, they state the special offer.ndiniwachojeff wrote: ↑ Any updates to what happened to it?
- TorontoEh
- Deal Fanatic
-
- Dec 11, 2005
- 8941 posts
- 1502 upvotes
- TO
I assume it's best to use in a savings outside of Tangerine as their terms state we can't use the LoC $ to get interest?flaming homer wrote: ↑ Yes, the payment is automatically scheduled on first of the month, you should see it pop up November 1
As for $25 monthly payment, you only took out $1250 ?
I took out $10K, expect my next 3 payments $200, $196, and $192.08
"You can't soar with the eagles if you're hanging with the turkeys - Gary Kent
- 7865875
- Member
- Dec 14, 2017
- 486 posts
- 491 upvotes
I was offered $30,000 and 0% promotional interest rate until the new year.
I took out $30,000 and put it in my Tangerine savings account which currently has an interest promotion until the new year.
I plan to pay back the line of credit a week in advance of the interest free promo ending.
What cost can I expect to pay here? Just one $25 fee?
I took out $30,000 and put it in my Tangerine savings account which currently has an interest promotion until the new year.
I plan to pay back the line of credit a week in advance of the interest free promo ending.
What cost can I expect to pay here? Just one $25 fee?
- mcmax20
- Member
- Dec 26, 2017
- 213 posts
- 147 upvotes
From my understanding you make a monthly payment of $25 during the promo period and at the end you should owe $30k less your payments. In my case it’ll be 2 payments so I’ll pay back $29,950.00 at the end of the promo
- litebrite
- Deal Addict
- Oct 9, 2003
- 3572 posts
- 1000 upvotes
- Vancouver
You will need to confirm what's the minimum monthly payment back towards the principle of the LoC. My offer was for $10K and my minimum monthly payment is $200. I think the minimum is $25 and it goes up depending on the amount you borrow.7865875 wrote: ↑ I was offered $30,000 and 0% promotional interest rate until the new year.
I took out $30,000 and put it in my Tangerine savings account which currently has an interest promotion until the new year.
I plan to pay back the line of credit a week in advance of the interest free promo ending.
What cost can I expect to pay here? Just one $25 fee?
I made the $200 monthly payment and immediately withdrew it back from the LoC.
As per the terms: Your Minimum Payment is the greater of: (1) 2% of your New Balance plus any interest, past due and Over-limit amount, or (2) $25.
- 7865875
- Member
- Dec 14, 2017
- 486 posts
- 491 upvotes
So, I believe mine is $25.litebrite wrote: ↑ You will need to confirm what's the minimum monthly payment back towards the principle of the LoC. My offer was for $10K and my minimum monthly payment is $200. I think the minimum is $25 and it goes up depending on the amount you borrow.
I made the $200 monthly payment and immediately withdrew it back from the LoC.
As per the terms: Your Minimum Payment is the greater of: (1) 2% of your New Balance plus any interest, past due and Over-limit amount, or (2) $25.
Does that mean that I can just pay $25 into the LOC right now?
This is confsuing to me, but I guess better to learn now rather than later how to use these.
- djino
- Deal Expert
-
- Feb 24, 2008
- 15288 posts
- 6604 upvotes
- Gatineau
When you accepted the LOC, you had to select an account to use for automatic payments.
On the due date of your statement, it will automatically withdraw the minimum payment from your selected account. Though you are free to make a payment prior to the due date instead.
It's simply no different to having a credit card setup for automatic payments.
Djino
- EDL67134234
- Deal Addict
- Feb 10, 2018
- 1545 posts
- 1028 upvotes
30k for 7.44 % with Tangerine, 10k at 6.44 % with Scotia or 30k at 7.44% with RBC?
Got preapproval for all. Don't really have a use for it right now, but was thinking being with Scotia might help me get Scotia Amex eventually since I want it with my Ultimate Plan but keep getting rejected.
Got preapproval for all. Don't really have a use for it right now, but was thinking being with Scotia might help me get Scotia Amex eventually since I want it with my Ultimate Plan but keep getting rejected.
- bryceton
- Deal Addict
- Aug 24, 2006
- 1150 posts
- 593 upvotes
RBC one is less valuable due to not being able to use it as a chequing account ( positive balance)EDL67134234 wrote: ↑ 30k for 7.44 % with Tangerine, 10k at 6.44 % with Scotia or 30k at 7.44% with RBC?
Got preapproval for all. Don't really have a use for it right now, but was thinking being with Scotia might help me get Scotia Amex eventually since I want it with my Ultimate Plan but keep getting rejected.
Tangerine results in hard check I believe, unsure of scotia
- djino
- Deal Expert
-
- Feb 24, 2008
- 15288 posts
- 6604 upvotes
- Gatineau
- bryceton
- Deal Addict
- Aug 24, 2006
- 1150 posts
- 593 upvotes
- Shadow Rider
- Deal Addict
- Sep 11, 2006
- 2049 posts
- 732 upvotes
- ratatapa
- Deal Addict
- Nov 28, 2013
- 2735 posts
- 1157 upvotes
- Quebec
Put my money in a TFSA and will get the money back 3 days before the deadline