Expired Hot Deals

Tangerine

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

  • Last Updated:
  • Dec 2nd, 2020 10:43 am
Deal Addict
User avatar
Dec 4, 2007
4169 posts
1826 upvotes
Quebec
HungJai wrote: I'm still not sure do I need this LOC... don't have any specific investment that worth the return and time...
try all in on red
Sr. Member
Oct 31, 2009
623 posts
137 upvotes
Hi All. I took this offer too for emergency purposes. At the same time I took advantage of the 0% interest free for 90 days. I believe that the minimum payment is 2% and my first payment will be on Nov. 21 and if anyone can confirm it's $300? and that $300 is available again to borrow at 0% for the next two months? Thanks
Deal Fanatic
Oct 7, 2007
9044 posts
4883 upvotes
The time to repay my LOC before the zero interest period ends is coming soon.

What is the quickest way to pay this down? Can I deposit a cheque via mobile deposit DIRECTLY to the LOC account? If so, that would seem to be the fastest but I haven't actually tried to see if this is possible.
Moderator
User avatar
Mar 23, 2004
46876 posts
12808 upvotes
Markham
choclover wrote: The time to repay my LOC before the zero interest period ends is coming soon.

What is the quickest way to pay this down? Can I deposit a cheque via mobile deposit DIRECTLY to the LOC account? If so, that would seem to be the fastest but I haven't actually tried to see if this is possible.
EMT to the TNG chequing account and do a transfer to LOC.
Member
Oct 5, 2011
413 posts
282 upvotes
Toronto
desertfox wrote: Hi All. I took this offer too for emergency purposes. At the same time I took advantage of the 0% interest free for 90 days. I believe that the minimum payment is 2% and my first payment will be on Nov. 21 and if anyone can confirm it's $300? and that $300 is available again to borrow at 0% for the next two months? Thanks
During the 90 day promo period, you only pay 25$ a month. Afterwards you pay the greater of 25$ or interest.
Deal Addict
Sep 1, 2007
2216 posts
1772 upvotes
Surrey
angel_wing0 wrote: EMT to the TNG chequing account and do a transfer to LOC.
Problem with this is you’re limited to $10000 week transfer limit (if your talking about Interac etransfer). If you’re talking about bank to bank transfer then it’ll take 5 days or more for the funds to clear and then transfer to the LOC
Deal Addict
Sep 1, 2007
2216 posts
1772 upvotes
Surrey
choclover wrote: The time to repay my LOC before the zero interest period ends is coming soon.

What is the quickest way to pay this down? Can I deposit a cheque via mobile deposit DIRECTLY to the LOC account? If so, that would seem to be the fastest but I haven't actually tried to see if this is possible.
If you still have a decent interest rate on your tangerine savings account do a bank to bank transfer to TAN savings a week in advance. Then when the money clears (becomes available) transfer it to the LOC on the last day. That’s what I’m doing as I’m not sure depositing a Cheque in the LOC will count immediately. Maybe it will but I don’t want to take that chance unless someone knows for sure
Sr. Member
Oct 31, 2009
623 posts
137 upvotes
chapman_w wrote: During the 90 day promo period, you only pay 25$ a month. Afterwards you pay the greater of 25$ or interest.
That's my thought initially. But checking my account it already shows minimum payment of $300 on Nov. 21 and my disclosure statement also states "minimum payment (1) 2% of new balance."
Deal Fanatic
Oct 7, 2007
9044 posts
4883 upvotes
ffonly wrote: If you still have a decent interest rate on your tangerine savings account do a bank to bank transfer to TAN savings a week in advance. Then when the money clears (becomes available) transfer it to the LOC on the last day. That’s what I’m doing as I’m not sure depositing a Cheque in the LOC will count immediately. Maybe it will but I don’t want to take that chance unless someone knows for sure
I'm with you. I don't have a HISA at Tangerine but it doesn't matter. Better safe than sorry. :)
Sr. Member
Nov 22, 2012
699 posts
803 upvotes
NS
desertfox wrote: Hi All. I took this offer too for emergency purposes. At the same time I took advantage of the 0% interest free for 90 days. I believe that the minimum payment is 2% and my first payment will be on Nov. 21 and if anyone can confirm it's $300? and that $300 is available again to borrow at 0% for the next two months? Thanks
Your minimum payment amount will be specified on your statement. 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. For New Balances less than $25, the entire New Balance is the Minimum Payment.

Your minimum payment would be $300 if you owe $15,000. Yes, you can borrow $300 from your LOC after your payment posts.
Sr. Member
Oct 31, 2009
623 posts
137 upvotes
jevonb wrote: Your minimum payment amount will be specified on your statement. 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. For New Balances less than $25, the entire New Balance is the Minimum Payment.

Your minimum payment would be $300 if you owe $15,000. Yes, you can borrow $300 from your LOC after your payment posts.
Thanks. I got this one confirmed by calling Tangerine too.
Member
Jul 5, 2004
246 posts
21 upvotes
They have now rolled this LOC out to everyone. Anyone can apply for this on their website. I just applied with them and was approved for only 3K and Prime + 6% = 9.95!? Are you kidding me? My credit score is 810 and I make good money. I have been with them since they were ING and have our mortgage with them and the World Elite card. I asked them to look into it because this is an insulting offer lol. I have a $10K LOC with BMO at 4.95%. They said because it's a new product they won't review applications. Anyone else had this happened? Or did anyone get an increase on their limit after some time?
Deal Fanatic
Nov 6, 2018
7383 posts
7929 upvotes
fttn wrote: They have now rolled this LOC out to everyone. Anyone can apply for this on their website. I just applied with them and was approved for only 3K and Prime + 6% = 9.95!? Are you kidding me? My credit score is 810 and I make good money. I have been with them since they were ING and have our mortgage with them and the World Elite card. I asked them to look into it because this is an insulting offer lol. I have a $10K LOC with BMO at 4.95%. They said because it's a new product they won't review applications. Anyone else had this happened? Or did anyone get an increase on their limit after some time?
They seem to pick rates and CLs out of hat for everyone.

The CC is a World card not a World Elite.
Deal Addict
Sep 19, 2009
2123 posts
901 upvotes
Toronto
I got a "You’re pre-approved† for a Tangerine Line of Credit"
*Your introductory rate of 2.95% is in effect for the first 90 days after the Line of Credit is opened (the “Promotional Rate Period”). After the Promotional Rate Period, your standard variable annual interest rate of Tangerine Prime◊ + 2.00%
I don't intend to use it but I cannot come up with any reason not to take it.

What do you guys think?
Member
Jul 5, 2004
246 posts
21 upvotes
Gtaphotog wrote: They seem to pick rates and CLs out of hat for everyone.

The CC is a World card not a World Elite.
It's insulting. Then I just tried to increase my crappy 4K credit card limit and got declined. I never get declined lol. I think they blacklisted me for complaining about the LOC.
Deal Fanatic
Nov 6, 2018
7383 posts
7929 upvotes
fttn wrote:
It's insulting. Then I just tried to increase my crappy 4K credit card limit and got declined. I never get declined lol. I think they blacklisted me for complaining about the LOC.
You have a higher chance of the winning the local lotteries than getting anything you're after from Tang.
Deal Addict
Sep 21, 2011
1807 posts
515 upvotes
Hey guys just went through the thread didnt see this offer posted is it tangerine prime + 0% = 3.95 percent after the first 3 months ? . I got offered this today been with tangerine about 6 months only.
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Deal Addict
Sep 19, 2009
2123 posts
901 upvotes
Toronto
Got the LOC but never used it. Since I cannot find a fee schedule on web, I am asking here:

  • Other than the 2.95% interest, is Tangerine charging any fees when credit used?
  • Do they charge interest for intraday credit?

Any other things I should be aware of before using it for the first time?

TIA.
Jr. Member
Aug 9, 2015
110 posts
40 upvotes
Vancouver, BC
If I don't take the offer now, will Tangerine offer a better rate in the future? Anyone have experience?

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