什么是line of credit？
- 主题发起人 cleeh
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line of credit其实和信用卡区别就在于:
1.你没有那张卡片.
2.最低的信用额度起点比较高
3.如果你用了,利息比信用卡在一般情况下要低.
如果你没有MORTGAGE在银行,也没有让银行HOLD住你的钱不动,一般情况,你获得的line of credit是unsecured.利息也非常低,要看你的信用等级决定.
如果你有MORTGAGE,并且你的MORTGAGE没有超过你房子总价值的75%,那么你可以获得secured的line of credit,如果你的信用等级足够好,你可以获得和prime rate一样的利息.
当然,如果你需要信用卡,你也可以再申请 line of creidt visa card,其实用起来和信用卡一样,利息低多了.
这个能够帮助你建立你的信用度,和贷款买房不能说没有联系,但是并不是那么密切.
你如果不用,没有费用发生.
如果你有好的投资方式,获得的return rate比prime rate 高,当然就用line of credit,不用自己的钱了.如果获得的回报不高,就要比较衡量了.
1.你没有那张卡片.
2.最低的信用额度起点比较高
3.如果你用了,利息比信用卡在一般情况下要低.
如果你没有MORTGAGE在银行,也没有让银行HOLD住你的钱不动,一般情况,你获得的line of credit是unsecured.利息也非常低,要看你的信用等级决定.
如果你有MORTGAGE,并且你的MORTGAGE没有超过你房子总价值的75%,那么你可以获得secured的line of credit,如果你的信用等级足够好,你可以获得和prime rate一样的利息.
当然,如果你需要信用卡,你也可以再申请 line of creidt visa card,其实用起来和信用卡一样,利息低多了.
这个能够帮助你建立你的信用度,和贷款买房不能说没有联系,但是并不是那么密切.
你如果不用,没有费用发生.
如果你有好的投资方式,获得的return rate比prime rate 高,当然就用line of credit,不用自己的钱了.如果获得的回报不高,就要比较衡量了.
不错
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LOC is good stuff. It won't charge you anything if you don't use the money. The interest rate is much lower than credit card.
If you have LOC, that means you always have certain amount of cash available in the bank. It can be used for emergency purpose at least.
Basically, LOC won't affect your application of mortgage if you don't use it.
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说获得的条件高也就是在于the minimum limit is higher than that of credit card.也就是说在于每个人的收入是否能够承担偿还那么多债务的能力.
缺点也算不上,现在能想到的如果算的上缺点的话就是一个人能够申请的信用额度是有一定范围的,如果申请了line of credit,必然能申请其他信用额度的范围就会降低(现在这里说的是unsecured credit limit,和mortgage的关系在于你所有的unsecured and secured credit总和构成你affordable credit limit总和).但我不认为这个算缺点,因为有效的使用这个额度,目前line of credit还是最好的产品之一.
缺点也算不上,现在能想到的如果算的上缺点的话就是一个人能够申请的信用额度是有一定范围的,如果申请了line of credit,必然能申请其他信用额度的范围就会降低(现在这里说的是unsecured credit limit,和mortgage的关系在于你所有的unsecured and secured credit总和构成你affordable credit limit总和).但我不认为这个算缺点,因为有效的使用这个额度,目前line of credit还是最好的产品之一.
if u have $5000 term deposit in the bank locked for 5 years ,
u can not take out during these 5 years,
now u want to buy a car and have no money,
u can apply for line of credit for $5000,the interest rate is 5%,
and every month u have to pay some back.
u can not take out during these 5 years,
now u want to buy a car and have no money,
u can apply for line of credit for $5000,the interest rate is 5%,
and every month u have to pay some back.
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Car dealers may provide better rate than most of banks.
And generally, if you really need to hold something to get credit products, most banks at least hold 120% amount of the money,but not necessarily for 5 years.
The rates of your line of credit have relations with your credit record, can as low as prime rate. May varies across banks.
And generally, if you really need to hold something to get credit products, most banks at least hold 120% amount of the money,but not necessarily for 5 years.
The rates of your line of credit have relations with your credit record, can as low as prime rate. May varies across banks.
With Line of Credit setup, you don't have re-apply loan from Bank
for different purpose. For examples, if you want to buy car you can
either go to car dealer or Bank to get a loan. Suppose you go to Bank,
Bank will asses your application and either reject or approve. It
takes time to do that. After you can the car loan, you find that you
want to pay tuition and you have to go to Bank again to apply the
loan and run the same process. With Line of Credit, you don't have
to go through these processes and you can borrow the money at any
time. The rate is usually Prime+1%.
I will say it is better to have this setup for emergency cash. If you
don't use it, it costs you nothing.
for different purpose. For examples, if you want to buy car you can
either go to car dealer or Bank to get a loan. Suppose you go to Bank,
Bank will asses your application and either reject or approve. It
takes time to do that. After you can the car loan, you find that you
want to pay tuition and you have to go to Bank again to apply the
loan and run the same process. With Line of Credit, you don't have
to go through these processes and you can borrow the money at any
time. The rate is usually Prime+1%.
I will say it is better to have this setup for emergency cash. If you
don't use it, it costs you nothing.
