Can I get a credit line?

[Steven]

If I need a credit line for let say $20,000 would there be a Canadian bank willing to give me one?

[Canadian]

Originally Posted by Steven

If I need a credit line for let say $20,000 would there be a Canadian bank willing to give me one?

Why don't you call your bank and find out? Just talk to sumebody toi get the feeling what are your chances, before actually submitting a credit line application.

[trent]

This will depend on many things like your current debt load, your credit rating, your job security, etc. The thing that doesn't depend on you - the economy is already in bad shape so this wouldn't help your chances of getting a credit line.

[Canadian]

Steven,

I'm curious did you talk to your bank about the line of credit?

[Steven]

I've actually applied for a credit line with RBC last week, and I'll let you know if I'm approved.

[bullish]

So did you get approved for the credit line? Royal Bank is the biggest Canadian bank and I doubt you'll have problems getting approved.

[Canadian]

Originally Posted by bullish

So did you get approved for the credit line? Royal Bank is the biggest Canadian bank and I doubt you'll have problems getting approved.

The bigger the bank, the bigger the trouble nowadays .

[bigeddy15]

I recently turned 19 and was approved for a $20,000 dollar line of credit. I dont actually need it for anything. I simply borrow 10,00 dollars the odd weekend and then put it back in my account to show i have good spending habbits. This will slowly stack up my credit rating. The interst is accumulated yearly also so it might cost me $10 dollars at the most to do. Hope that gives ya some inspiration!

[trent]

Originally Posted by bigeddy15

I recently turned 19 and was approved for a $20,000 dollar line of credit. I dont actually need it for anything. I simply borrow 10,00 dollars the odd weekend and then put it back in my account to show i have good spending habbits. This will slowly stack up my credit rating. The interst is accumulated yearly also so it might cost me $10 dollars at the most to do. Hope that gives ya some inspiration!

I'm not sure how exactly are FICO scores calculated, but using half of all your available credit, when you don't actually need it might hurt your credit score. If I were to do something similar I would borrow no more than 30% of the credit line at any given time.

[Rickson9]

Originally Posted by vionula09

i need a 1000 loan, but my credit isnt pefect. i was wondering if anyone knows a place where i can get a loan quickly that is not a payday loan

Russell Oliver?