What is the best place to go for Line of Credit?

[Red1Blue]

I dont need money, I want to see if I can get a 5k or 10K as LOC and keep it for emergencies.

What is the best place to go for it? I understand Citi Financial and WF Financial are not good for fico scores as they are reported as consumer finance companies.

What is the best source I can go to get a line. I never had luck with BOA. I just got 2 cards from Citi and I am not sure if they would give me LOC, they might want me to wait few more days.

My TU is around 700 and I want to see if I can locate a bank / company who would look for TU for the approval as my chances are better to get approval.

Any suggestions?

[MidnightVoice]

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concorduser wrote:

I dont need money, I want to see if I can get a 5k or 10K as LOC and keep it for emergencies.

What is the best place to go for it? I understand Citi Financial and WF Financial are not good for fico scores as they are reported as consumer finance companies.

What is the best source I can go to get a line. I never had luck with BOA. I just got 2 cards from Citi and I am not sure if they would give me LOC, they might want me to wait few more days.

My TU is around 700 and I want to see if I can locate a bank / company who would look for TU for the approval as my chances are better to get approval.

Any suggestions?

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I have a CC with a $10K limit and a low APR from my CU as an emergency line of credit.

Plus my trusty HELOC

Message Edited by MidnightVoice on 04-18-2008 04:34 PM

[Red1Blue]

Hi MV, I asked Affinity CU couple of months ago and did not have much luck. I did not have much luck with any of the CU's except my first secured card SVCU who helped me get started.

I dont want to risk a Hard inq again. I want to make sure I am absolutely sure and then go for it. If I wait few months I might get one from Citi as I have 2 cards with them with CL over $15K each and they might pull TU which is my good scores. I want to try with a Bank or CU that pulls TU as my chances are higher of getting approved.

[Anonymous]

Not a TU puller, but Navy Federal gave me a 10k LOC and 10k CC pretty easily.

[Red1Blue]

Do you have to be working for navy to become member of navyfed? I am a civilan.

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FretlessMayhem wrote:
Not a TU puller, but Navy Federal gave me a 10k LOC and 10k CC pretty easily.

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[Anonymous]

Citibank Flex LOCs are pretty good. Hard to get though, and you need virtually $0 UTL on revolving to be approved. Score of 700 is cutting it close for a Flex LOC. If you pay off all Rev debt to $0 you might have a shot. Their interest rate was lower with no other fees to have. Great for emergencies I thought. I applied but was denied because of Rev Debt too high. They report as revolving LOC not installment and I think peak out at $25k limits.

On the other hand you could also apply for a over draft line of credit for a checking account. If you ever need the money you can write a check and use the over draft credit. Bank of America and just about all banks have overdraft locs. I again found Citibank's annual fee of $5 to be the cheapest over draft loc I could find.

It might just be easier to have a credit card in the sock drawer for the same emergency. All 3 ways should do the same thing.

Message Edited by ilovepizza on 04-18-2008 04:16 PM

[Anonymous]

i got e-mails about flex loc 2 months in a row now. the prob w/flex loc

1. no online access

2. doesn't report a total limit, but does report as revolving (so even $1.00 balance will show 100% uti)

[Red1Blue]

I applied for citiflex couple of months ago. They pulled TU and my app declined. Two weeks later I am approved for Smith  Barney Credit Card from Citi with $15k CL. My scores were around 706 and my util is less than $150 or so. I was thinking may be I'll wait another 3-4 months and let both my Citi cards show some activity and then apply again and see what happens. Hopefully my scores also should go up by that time.

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ilovepizza wrote:
Citibank Flex LOCs are pretty good. Hard to get though, and you need virtually $0 UTL on

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