Trust and Loans - line of credit or credit card? - Canada

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RE: line of credit or credit card?

Postby DanielBl » Thu Aug 18, 2011 09:48:33 PM

All your posts have about the same number of words. LOL. How do you get cyber persons to do that?
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RE: line of credit or credit card?

Postby AlysaLee » Thu Aug 18, 2011 09:33:00 PM

A line of credit is any credit source extended to a government, business or individual by a bank or other financial institution. A line of credit may take several forms, such as overdraft protection, demand loan, special purpose, export packing credit, term loan, discounting, purchase of commercial bills, etc.
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line of credit or credit card?

Postby johnsmith1 » Tue Jan 04, 2011 04:54:07 PM

Hello,

My credit was very poor about 2 years (500) but I've managed to bring it up to 657. I know this isn't the best score and i still have some work to do to get it in the mid 700 and higher but at this point I'd like to try and get a small line of credit or credit card with a decent limit.

Currently I have a RB visa with a limit of $1000 (currently owing $700) and a very high interest line of credit I obtained when my credit was very bad which is maxed out at $2000 (I've had both of these for a year and have missed no payments). I would really like get some money to pay off these two debts while still having a little extra just in case. My goal is to essentially only have one debt at a reasonable interest rate to pay (I make around 45K a year and been at the same place for 5yrs)

Can anyone tell me what lender/bank/trust would approve me for a high limit credit card or low line of credit (5k) given my current scenario? (i don't want to apply to be declined, hurting my credit). Thank you.
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