Looking for LOC options

[Anonymous]

What are some good options for LOC's a few times a year I have some big expenses that I need to float for a few months. One of these would be perfect for it. What are some suggestions on ones with good rates. I looked into citi. But you need a deposit account with them plus a mortgage or credit card.

[SouthJamaica]

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@Anonymous wrote:
What are some good options for LOC's a few times a year I have some big expenses that I need to float for a few months. One of these would be perfect for it. What are some suggestions on ones with good rates. I looked into citi. But you need a deposit account with them plus a mortgage or credit card.

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PenFed and NFCU give out substantial size PLOC's; the rates on NFCU are high, PenFed's more reasonable.

Affinity FCU in NJ is better but they're conservative on how big an LOC to give out.

[Anonymous]

I was looking at Navy federal.. it's a lil unclear on there website. Do they require a checking account with them for the CLOC?

[Anonymous]

Check with your curret local credit unions, as well as the ones mentioned above..  Sometimes they offer visa cards that function as a line of credit. They are directly attache to your checking account (ideally high yield 2%+) and either charge no fee or a very small fee to move credit to checking or do a cash advance.....

The nice thing about the ones the others mentioned usally you can open up multiple products using the same inquiry.

[Anonymous]

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@Anonymous wrote:
I was looking at Navy federal.. it's a lil unclear on there website. Do they require a checking account with them for the CLOC?

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It is a checking line of credit so you do need the account, but it doesn't have to be your main checking account. I rarely keep more than a hundred bucks in there.