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InfiniteJoy
12-15-2004, 01:49 PM
Alright,

I was just wondering if anyone could point me in the right direction to help me with something here. I am looking for a way to get about $2000 on a loan or on a very low interest line of credit. I can't pay back the loan immediately though, so I need something that I can have 6 months or so to pay off.

My credit is fine (I think it is.. I've put about $10,000 on my credit card in the last year and not been late for a single payment), so I was just wondering if anyone had any ideas/tips for my to aquire these funds :)

Thanks
QuasarCav
12-15-2004, 02:19 PM
Lines of credit are usually 10K or more. Why dont you get your CC extended and get 2g's that way?
bspot
12-15-2004, 02:22 PM
^ Cuz you get raped leaving $2K on a credit card for 6 months
QuasarCav
12-15-2004, 02:24 PM
2K at 8% a year, so lets say 4% for the 6 month term.

=80 dollars, that is not too bad.
Gspotracer
12-15-2004, 02:24 PM
Originally posted by QuasarCav
Lines of credit are usually 10K or more. Why dont you get your CC extended and get 2g's that way?

He needs like 6 months to pay it off, not smart to pay interest on $2,000 on a credit card for 6 months @ 18%+/-, go to your bank & get a line of credit, or even a small personal loan:thumbsup:
QuasarCav
12-15-2004, 02:25 PM
What kind of CC's are you using to get 18%?

I pay 7.9 and I'm 21.
Gspotracer
12-15-2004, 02:29 PM
Originally posted by QuasarCav
What kind of CC's are you using to get 18%?

I pay 7.9 and I'm 21.

18% is about average for a credit card isn't it?, doesn't really matter to me cause I never carry a balance.:dunno:
max_boost
12-15-2004, 04:05 PM
BMO Mosaik Mastercard has a low rate option 7.9% for cash withdrawals/cheques. You have to pay a service fee to get that low rate though.
QuasarCav
12-15-2004, 04:11 PM
My VISA is 7.9 with a 25$ a year fee. 1.9 on balance transfers.

But CC's are not the way to go if you have to carry a balance, a personal loan will be your best choice.
FiveFreshFish
12-15-2004, 04:15 PM
You can apply for an unsecured line of credit at your bank. I think the minimum is $5000 which more than covers what you require. The rate is something like prime plus 3% or whatever you can negotiate depending on your credit history. With a line of credit, you only have to pay the accumulated interest each month.