cancel
Showing results for 
Search instead for 
Did you mean: 

personal lines of credit

Auto Loans for ANY Credit Situation. Immediate Response.
Advertiser disclosure
Highlighted
New Member

personal lines of credit

Hello, which banks or credit unions are the best for personal lines of credit.

 

6 REPLIES 6
Frequent Contributor

Re: personal lines of credit


@Junior123 wrote:

Hello, which banks or credit unions are the best for personal lines of credit.

 


That question is simultaneously too hard and too easy. The best answer I can think of is: whichever bank or credit union you like that is willing to extend to you a personal line of credit with terms that you are willing to accept. Your FICO score is probably the major determinant.

Credit Scores: (FICO 8) 829 Experian November 2019, 824 TransUnion November 2019 | (FICO 9) 846 Equifax December 2019
Credit Cards (newest to oldest): NFCU VISA Platinum $25,000 | BECU Cash Back VISA $10,000 | American Express BCE $3000 | Simmons Bank VISA Platinum $7500 | Capital One No Hassle Rewards VISA Platinum $500
Message 2 of 7
Super Contributor

Re: personal lines of credit


@Junior123 wrote:

Hello, which banks or credit unions are the best for personal lines of credit.

 


In my experience, credit unions are better than banks. If you have a geographically restricted credit union, or other limited membership credit union, for which you qualify, look into their offerings for a personal line of credit. The main thing I would be looking for is low interest rate.

 

As to credit unions with more open membership, the best personal lines of credit I know of would be with

 

-Hanscom FCU

-Unify FCU

-Langley FCU

-Summit CU

-Affinity FCU


Total revolving limits 732500 (606000 reporting) 12/4/20 FICO 8 scores: EQ 715 TU 760 EX 735
Message 3 of 7
Valued Contributor

Re: personal lines of credit

Without much DP to start with we’re all gonna be throwing stones in the dark. But if your EQ FICO 9 is in the mid 700s and higher with less than 8.9% UTIL and low HPs and new accts then PENFED’s PLOC with 6.49% APR might sound enticing to you. Good Luck and keep us posted.
BK7 dc in 01/2011 with FICO8 in the 500s

HPs EX 5 EQ 4 TU 1
AAoA 5y2m
UTIL 1% - 3%

$200K+ Total Limits







New cc TLs 1/6 ; 1/12 & 4/24
Message 4 of 7
Frequent Contributor

Re: personal lines of credit


@JR_TX wrote:
Without much DP to start with we’re all gonna be throwing stones in the dark. But if your EQ FICO 9 is in the mid 700s and higher with less than 8.9% UTIL and low HPs and new accts then PENFED’s PLOC with 6.49% APR might sound enticing to you. Good Luck and keep us posted.

The personal loan is as low as 6.49%. The PLOC is fixed at 14.65% and the check line of credit is 17.99%. 

$mart $$$: #1 Prioritize health, #2 Invest, #3 Limit debt
My Garden Goal: Mortgage ready and below 5/24

Last spade:Current spade:
Message 5 of 7
Valued Contributor

Re: personal lines of credit


@Namaste7 wrote:

@JR_TX wrote:
Without much DP to start with we’re all gonna be throwing stones in the dark. But if your EQ FICO 9 is in the mid 700s and higher with less than 8.9% UTIL and low HPs and new accts then PENFED’s PLOC with 6.49% APR might sound enticing to you. Good Luck and keep us posted.

The personal loan is as low as 6.49%. The PLOC is fixed at 14.65% and the check line of credit is 17.99%. 


 

Didn’t realize that. Thanks for catching my mistake.

BK7 dc in 01/2011 with FICO8 in the 500s

HPs EX 5 EQ 4 TU 1
AAoA 5y2m
UTIL 1% - 3%

$200K+ Total Limits







New cc TLs 1/6 ; 1/12 & 4/24
Message 6 of 7
New Contributor

Re: personal lines of credit

Most credit unions offer them, so if you can join one, I'd check there first.

 

Of the "big" banks, I believe only Wells Fargo and US Bank offer them.  Chase, Citi and BOA do not.

$11,500 FNBO Prime Visa, $10,600 Quicksilver One, $6000 US Bank Kroger, $3300 Barclay Apple Visa, $5000 Chase United Explorer, $4600 Discover, $2900 Wells Fargo 1% Cash Back, $2000 Chase Unlimited, Amex Gold with $30,000 POT, $3500 PayPal Credit, Walmart $1500, Citi CostCo $8500, Citi AAdvantage $2900, Delta Amex Gold $3000, WF PLOC $7500, Everyday Preferred $10,000, Amazon Prime Store Card $1200.
Message 7 of 7
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.