Getting Credit Unions to compete.

[natesezgoblue]

OK so we're looking to spend about 4k on new floors.   Yesterday I just had a CL increase from 3k-9k through our local credit union on our LOC.  Previously my utilization was at about 65% now it'll be around 20%.  This credit line does have a pretty high interest rate @ 15%.  I'd like to go to our other credit union to see about getting a more competitive rate.   Before this week was scores were all around 625 and a utilization of about 60%.  Becasue my utilization will go down due to the CL increase, how long should i wait before going to our other credit union to see if they can get us a better rate.  Our other CU is BECU.

[RBFool]

I'd assume to wait until the new CLI shows on the credit report... so a month? or next statement cut? I'm not sure the best answer so I'm following

[juggalo9er]

---

@natesezgoblue wrote:

@Anonymous so we're looking to spend about 4k on new floors.   Yesterday I just had a CL increase from 3k-9k through our local credit union on our LOC.  Previously my utilization was at about 65% now it'll be around 20%.  This credit line does have a pretty high interest rate @ 15%.  I'd like to go to our other credit union to see about getting a more competitive rate.   Before this week was scores were all around 625 and a utilization of about 60%.  Becasue my utilization will go down due to the CL increase, how long should i wait before going to our other credit union to see if they can get us a better rate.  Our other CU is BECU.

---

my cu cc has a lower apr than this....maybe dc....shame you do not live in indiana 4.9% fixed for 1 year 9.9 after

[ezdriver]

Other than requesting a review of the int rate on that LOC, there isn't much else that you can do with that CU. Is waiting and saving for the cost of replacing your flooring an option?

[natesezgoblue]

yes!  my thought was to wait until november to have done