@Anonymous wrote:
Again this is a personal choice that i do find to be much better having a Credit Line than having a regular Credit Card. I know the convenience of using the card but its that same convenience that makes it easy to make useless purchases on a credit card...
My credit line has been at much lower interest rate, in order to use it, i have to do an online transfer to checking account and the whole process while seemless, promotes a better usage than a credit card.. I think am done with credit card and i can always get a low interest loan incase i need more... with these guys.. (link removed)
Personal Loan Rates
4.74% APR2 - 10.79% APR2
Variable Interest Rate Range
5.95% APR2 - 12.49% APR2
Fixed Interest Rate Range
Credit lines are fine but generally much higher rates than credit cards IF you use a credit card correctly. Many cards offer balance transfers at 12 to 18 months at eirher low rates aka currently 4.99% for 18 month or ZERO percent for 12 months with a 3% fee (current Discover offer). Many other cards offer ZERO percent for up to 21 months for balance transfers, most with a 3% fee, several with no fee. Property owners can get equity lines at very low interest rates through credit unions and banks both at fixed terms or revolving credit & payments.
It's one thing to use a credit card for what you can afford to pay in full every month (net = NO Interest) or for special financing at special rates (Lowes 5.99% project financing comes to mind because I've used it), it's another thing to take out a credit line and use it as a "credit card" which I would NOT suggest.
Note: I edited out your link because your post reads like an advertisment for a business.
