Mines 7.7. No idea if that's good or bad, I have heloc at something lower but zero balance on both.
Mines 7.7. No idea if that's good or bad, I have heloc at something lower but zero balance on both.
Just checked mine is at 8.89% as of today.
Don’t know. My credit is “excellent” 830/850. Wife has an even better credit and hers is over 10%This quote is hidden because you are ignoring this member. Show Quote
Looking around
Wondering what became
Of what I once knew
You're bank is screwing you. Mines at 6.87% today with similar credit score.
I'm circumsized though, so they probably assume I'm jewish and give me a discount.
Prime + 2.17%
Last edited by Tik-Tok; 07-14-2022 at 11:11 AM.
This quote is hidden because you are ignoring this member. Show QuoteThis quote is hidden because you are ignoring this member. Show Quote
I guess it's up to bargaining/shopping around? I am also at 850.This quote is hidden because you are ignoring this member. Show Quote
I guess older loans are cheaper? Mine started in the late 90s at Prime+2% but back then, Prime+2% was like 11-12%.
I have never seen LOC lower than prime+1% tho and revisiting this thread, seems like Prime+4 to 5% is the norm.
credit score rarely have anything to do with the rate offered (more so just for the approval). Most banks look at relationship pricing. If you have investment and mortgage with them. They usually offer you better rates on lending products such as LOC.
Prime + 4.34 is what I’ve had since 2018. I wish I had an older one.This quote is hidden because you are ignoring this member. Show Quote
I have a fuck load of savings with this bank but my mortgage isn’t with them. Perhaps that plays into it as well, like what Team Maclaren said.
Looking around
Wondering what became
Of what I once knew
Curiously checked my LOC. I can't see in my banking app what my specific rate is. When i login manually on my phone there is no specific info. For whatever reason only way I can see my rate is by downloading my statements but I can only see one statement in last 12 months which was in March. Rate went up to 5.15 at that time.
I must be around 7% knowing all the increases we have had since March.
Scotiabank sucks compared to everyone else who can login and see what their rate is.
Going back to 2014 rates. Average ULOC at TD was 9%+
Anything below 8% was good but rare. Its not that the bank was ripping you off, each persons LOC status depends on multiple factors. This whole rate comparison means nothing other than a dick measuring contest. If you want a good rate then its a HELOC.
Prime +4.5 for unsecured with RBC
Prime +0.5 for secured heloc td
The goal is to die with 7.2 worth of debt
But every now and then the credit card will send you a 0% interest balance transfer with a 2-3% 1x fee on the balance. Those are yummy too.
I am user #49Originally posted by rage2
Shit, there's only 49 users here, I doubt we'll even break 100
Looks like I'm scotia bank prime +2.75 (7.45). Speaking of this.....I tried to get an increase of $200 to make the total an even $47k and they wouldn't do it/making me jump through hoops.....then the next day offer me an 10k rrsp cath up LOC at prime. How does scotiabank make decisions????
Last edited by arcticcat522; 07-14-2022 at 08:46 PM.
Different products. RRSP LOC/loan is secured via your investment. you CANNOT cash out unless the loan is paid out.This quote is hidden because you are ignoring this member. Show Quote
A limit increase often needs a new application. Which is more or less the same as getting a new LOC. to get a $200 limit increase for all that work isnt really worth it.
I'm at 7.4
Submaker.Illest.
I flipped my mortgage to a Heloc years ago when I first started contracting.
Lack of employment history meant no Bank would touch it...
Currently sitting at an average rate of 3.4741...
I am religious about paying this down as its the only big debt I have.
Don't want to give them any excuse to call it in and jack up the rates.
2011 Ram 1500 QC Sport
2017 Jeep Cherokee Limited
Is that a fixed portion of helco @ 3.47? if so, why pay it off, GIC is paying over 4% now, that's basically free money.This quote is hidden because you are ignoring this member. Show Quote
6.95%
LOC is 10+ old
Tangerine had a deal a while ago so I opened a LOC. Currently 4.7% (prime + 0.00%)
Ultracrepidarian