Money Tips: How do I Apply for an Open Line of Credit?

Posted On: November 1, 2005

Author: Board Monitor
Posted: Thu Feb 17, 2005 4:48 pm
Post subject: How do I Apply for an Open Line of Credit?

Hello,

I am looking to open a line of credit of around $20K to $25K. Is that something you can help me with? This is a serious inquiry.
_________________
Best Regards,
Curtis Arnold
Board Monitor
http://www.cardratings.com (501) 663-0314

Author: Polonius
Posted: Thu Feb 17, 2005 5:24 pm
Post subject: How do I Apply for an Open Line of Credit?

You go to your bank and say that you want to open a line of credit. Typically banks require “a deposit relationship” for one–so you need a business or personal checking account to get one. Of course, some banks may not have such a requirement…

Author: Daniel
Posted: Thu Feb 17, 2005 7:54 pm
Post subject: How do I Apply for an Open Line of Credit?

I have LOC’s with several banks.

Penfed offers a LOC @8.25% up to $25,000

USBank has a decent LOC as well but to get the best rate you need to have a checking account with them.

Author: nativechild48
Posted: Sun Feb 20, 2005 5:11 pm
Post subject: How do I Apply for an Open Line of Credit?

You can also apply for A Flex credit personal line of credit with GECF, which owns Monogram Bank and finances many other companies. Another option is a Credit Union that you are affiliated with.