topic Looking to add another LOC... in General Credit Topics

Looking to add another LOC...

NYFan63 — Sat, 20 May 2017 15:46:38 GMT

Will be meeting with Andrews FCU Monday morning as I already have a HELOC and a personal loan with them. The very nice branch manager I spoke with mentioned that their limits on unsecured credit is $50k. My personal loan with them has a balance of $18k left, so I could possbly get $32k - we'll see...

I applied with my bank TD bank. I was conditionally approved for $50k @ 14.25% but they wanted to pay my Andrews FCU loan which has an interest rate of 10.99%. I need to credit line but dont want to pay the higher rate for it. So I called Andrews and will meet with them Monday morning...

Does anyone have any other recommendations? I know some have the Santander LOC...

Thanks in advance...

Re: Looking to add another LOC...

RobertEG — Sat, 20 May 2017 22:15:44 GMT

Are you seeking another LOC for credit scoring purposes, or because you need the cash?

Re: Looking to add another LOC...

SouthJamaica — Sat, 20 May 2017 23:06:58 GMT

@NYFan63 wrote:
Will be meeting with Andrews FCU Monday morning as I already have a HELOC and a personal loan with them. The very nice branch manager I spoke with mentioned that their limits on unsecured credit is $50k. My personal loan with them has a balance of $18k left, so I could possbly get $32k - we'll see...

@I applied with my bank TD bank. I was conditionally approved for $50k @ 14.25% but they wanted to pay my Andrews FCU loan which has an interest rate of 10.99%. I need to credit line but dont want to pay the higher rate for it. So I called Andrews and will meet with them Monday morning...

Does anyone have any other recommendations? I know some have the Santander LOC...

Thanks in advance...

I can recommend Santander, Langley, PenFed, and NFCU.

Also Affinity FCU, but they're pretty conservative.

Re: Looking to add another LOC...

NYFan63 — Sun, 21 May 2017 03:39:17 GMT

Thanks SJ - I do have NFCU and Penfed

@RobertEG - looking for potential funds for real estate investment instead of using HML.

Re: Looking to add another LOC...

NYFan63 — Thu, 25 May 2017 00:53:45 GMT

I went into the local Andrews FCU branch Monday morning and had the branch mgr complete my app and dropped off latest check stubs. I already have a HELOC and personal loan with them so the process did not take long at all. I called today to check on the status and they informed me they approved me for a $15k personal LOC.. I originally applied for $32k...which is fine.