Low APR LOCs

[JKXX]

Hey all,

I'm looking to borrow $20-25k for some expenses and therefore need to open up a LOC.

I've been searching this forum but have been having trouble finding a good list of low APR LOCs that are available.

I'll be able to fully pay it back within a 2-3 months so I don't need any set term. 

Any suggestions? Stats in my sig.

[Anonymous]

That's a large sum and will likely be difficult to get with a low APR quickly without some type of security (home equity etc.)
You local CU is likely your best bet.

[JKXX]

Yea I'm currently looking for ones from CUs. Looked at ones offered by Western, Apple, NASA, etc but just trying to figure out what the best option is. Is Western known to give out decent lines to good profiles or do you have to bank a lot with them? I know NASA does but it seems western has a better APR.

[Simply827]

If you're in PA, you can try PSECU. They have a Visa/PLOC combo product that many members here have gotten with good limits. 20k is the max I believe.

[slickshoes182]

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@JKXX wrote:

Yea I'm currently looking for ones from CUs. Looked at ones offered by Western, Apple, NASA, etc but just trying to figure out what the best option is. Is Western known to give out decent lines to good profiles or do you have to bank a lot with them? I know NASA does but it seems western has a better APR.

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Since you don't have much experience with 20K+ lines from what I see in your signature, and no previous relationship with Western, I think it would be easier to get a LOC + CC than 1 big line. On the fixed rate card that I have, they seem to always be offering 4.99% balance transfers with no balance transfer fee (they're offering it right now even), so you can use that to get an even better rate than the LOC (but it takes a while to process a balance transfer).

I've never kept a lot of money there, but I did eventually get to 50K in unsecured credit at Western (which was the limit last time I checked.. I assigned it as 25K LOC + 25K CC... the LOC can never go above 25K but the credit card can go up to 50K if you don't use the LOC ). The main thing they cared about was having experience with the line, and showing enough income and assets (I sent paychecks and statements from my taxable unrestricted brokerage account).

For Apple, the Visa Platinum CC has a better rate than their LOC and no cash advance fee. I quizzed several people there to figure out what advantage the LOC has over the CC and all I could figure out is that it's easier to acces the LOC for cash since you have to fax in a signed paper (or was it call in?) for the Apple credit card cash advance. Maybe you can do a large cash advance at a (co-op) branch, too (I don't remember).  If you don't mind the inconvenience, the credit card is better to use as a LOC then. I was told the maximum unsecured credit they offer is 35K (CC + LOC), so Nasa or Western would be a better bet for large lines.