Credit Cards Center Credit cards from our partners
Reply
New Member
Posts: 3
Registered: ‎04-13-2017
0

Current Market Terms for Line of Credits

Hi all, very fortunate and excited to have come across this forum.

 

I'm reaching out to get a feel for what institutions are actively issuing lines of credit and at what balances and interest rates you all are seeing them at.

 

My research on here thus far suggests PenFed and NASA FCU are pretty popular and issue up to $25k at 10%+. Is this about right?

 

Any institutions going above $25k? I'm looking to get my first one for a business I'm starting (new business, no financial history), so I presume it will not qualify and I'll have to get a personal one.

 

Thanks in advance for any feedback and insight.

 

 

Senior Contributor
Posts: 5,403
Registered: ‎02-24-2015
0

Re: Current Market Terms for Line of Credits


psa5 wrote:

Hi all, very fortunate and excited to have come across this forum.

 

I'm reaching out to get a feel for what institutions are actively issuing lines of credit and at what balances and interest rates you all are seeing them at.

 

My research on here thus far suggests PenFed and NASA FCU are pretty popular and issue up to $25k at 10%+. Is this about right?

 

Any institutions going above $25k? I'm looking to get my first one for a business I'm starting (new business, no financial history), so I presume it will not qualify and I'll have to get a personal one.

 

Thanks in advance for any feedback and insight.

 

 


The ones I know about are PenFed, NFCU, Langley FCU, Santander Bank, Affinity FCU.

 

Rates I have range from 8% to 14% all variable.


FICO8 EQ 782 TU 803 EX 786 FICO5 EQ 747 Total revolving 503000
Regular Contributor
Posts: 117
Registered: ‎01-29-2017
0

Re: Current Market Terms for Line of Credits

Many places go higher.

 

Some examples.

Wells Fargo $100K

Santander $35K

Key Bank $50K

FICO 8 Scores 02/21/2017 EQ 593, TU 584 EX 602 -- Current - EQ 605, TU 628, EX 622
Highlighted
New Member
Posts: 3
Registered: ‎04-13-2017
0

Re: Current Market Terms for Line of Credits

Thanks SouthJamaica.

 

Anyone have insight on what FICO score is used for LOCs?

 

I just ran my Experian. Sitting at the scores below. Per the FICO 8 simulater, it seems like I have two 30 past due payments from July 2011 holding me back, becuase my score pops +75 to 811 in 16 months of on-time payments Smiley Sad

 

736 - FICO 8

740 - FICO Bankcard 8

772 - FICO 9

781 - FICO Bankcard 9

Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.

† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
‡ Credit cards for FICO Score ranges: The score ranges are guidelines based on internal myFICO analysis of actual applicant approvals, and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range. These ranges were not provided by any card issuer.

* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.