Unsecured LOC rates and credit limit increase (currently CIBC)
Currently have unsecured LOC at CIBC (had for about 11 years) with $25,500 limit and prime + 3.5%. I've been basically using it as a free chequing account and overdraft. Is that a decent amount/rate?
What's the potential of increasing the credit limit and/or asking for a better rate? What would the process typically be? I don't really want to go through a whole application process/proof of employment or whatever, but if it could automatically qualify like how my credit cards offer increases each year or so would be nice.
What's the potential of increasing the credit limit and/or asking for a better rate? What would the process typically be? I don't really want to go through a whole application process/proof of employment or whatever, but if it could automatically qualify like how my credit cards offer increases each year or so would be nice.