11-06-2008, 05:17 PM
|
#1
|
|
The new goggles also do nothing.
Join Date: Oct 2001
Location: Calgary
|
Interest rate on unsecured line of credit, prime + 2%?
Being offered an unsecured line of credit at prime + 2%, just wondering how good a deal that is.
Sounds average to me, but going somewhere else would require a lot of effort (have to give a new lender all our info, which takes forever), so what are the chances I could find something significantly better elsewhere?
TIA
__________________
Uncertainty is an uncomfortable position.
But certainty is an absurd one.
|
|
|
|
11-06-2008, 05:18 PM
|
#2
|
|
Franchise Player
Join Date: Jun 2008
Location: Spartanville
|
Quote:
Originally Posted by photon
Being offered an unsecured line of credit at prime + 2%, just wondering how good a deal that is.
Sounds average to me, but going somewhere else would require a lot of effort (have to give a new lender all our info, which takes forever), so what are the chances I could find something significantly better elsewhere?
TIA
|
I don't know but can only tell you for comparison I've a secured one at prime.
Sorry, not much help.
|
|
|
|
|
11-06-2008, 05:19 PM
|
#3
|
|
Lifetime Suspension
Join Date: Sep 2005
Location: Lethbridge
|
Quote:
Originally Posted by photon
Being offered an unsecured line of credit at prime + 2%, just wondering how good a deal that is.
Sounds average to me, but going somewhere else would require a lot of effort (have to give a new lender all our info, which takes forever), so what are the chances I could find something significantly better elsewhere?
TIA
|
I have an unsecured at prime+1.5% at Royal Bank, and that to me was average at the time.
|
|
|
|
|
11-06-2008, 05:20 PM
|
#4
|
|
The new goggles also do nothing.
Join Date: Oct 2001
Location: Calgary
|
I've got a couple of HELoC's at prime - 0.5%, but they won't expand either one 
I guess it's expected to be more difficult to borrow right now even for a person due to the credit crunch?
__________________
Uncertainty is an uncomfortable position.
But certainty is an absurd one.
|
|
|
|
|
11-06-2008, 05:21 PM
|
#5
|
|
Unfrozen Caveman Lawyer
Join Date: Oct 2002
Location: Crowsnest Pass
|
prime +2 % sounds standard
|
|
|
|
|
11-06-2008, 09:35 PM
|
#6
|
|
Franchise Player
Join Date: Dec 2006
Location: Calgary, Alberta
|
For an unsecured line that sounds like a good deal to me.
|
|
|
|
|
11-06-2008, 09:49 PM
|
#7
|
|
The new goggles also do nothing.
Join Date: Oct 2001
Location: Calgary
|
Alright thanks guys, makes me feel better about it.
__________________
Uncertainty is an uncomfortable position.
But certainty is an absurd one.
|
|
|
|
|
11-06-2008, 10:26 PM
|
#8
|
|
Scoring Winger
Join Date: Mar 2004
Location: Calgary, AB
|
I have an unsecured LOC at prime + 1%, and a secured LOC at prime. Both are with CIBC.
|
|
|
|
|
11-06-2008, 11:50 PM
|
#9
|
|
The new goggles also do nothing.
Join Date: Oct 2001
Location: Calgary
|
1% difference is probably worth saving all the work of getting our info to a new institution, at least for the time frame we're thinking of having this LoC around.
We've got enough rentals, corporations, etc running around that it's an ordeal any time we approach a new lender.
__________________
Uncertainty is an uncomfortable position.
But certainty is an absurd one.
|
|
|
|
|
11-06-2008, 11:54 PM
|
#10
|
|
Scoring Winger
|
P+2% is for an unsecured line is a good deal.
Right now the best we can offer customers is prime + 1 for a SECURED line. We used to be able to do prime on all secured lines and visas.
Average unsecured is probably P + 3%
|
|
|
|
Posting Rules
|
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
HTML code is Off
|
|
|
All times are GMT -6. The time now is 05:03 PM.
|
|
