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moldex · 12-05-2013, 06:37 PM

I was recently contacted by my bank about opening a line of credit. I would like to open one in case of emergencies however the rate they gave me was prime + 3.75%. Now I want to negotiate it down but what's a good way to do this? What's a reasonable rate to ask? A friend of mine has prime + .5 unsecured which is ridiculous. Would asking for prime + 1.5% be reasonable?

12-05-2013, 06:37 PM	#1
moldex Proud to be called a RS Regular! Join Date: Nov 2013 Location: YVR Posts: 106 Thanked 73 Times in 18 Posts Failed 4 Times in 2 Posts	Line of credit I was recently contacted by my bank about opening a line of credit. I would like to open one in case of emergencies however the rate they gave me was prime + 3.75%. Now I want to negotiate it down but what's a good way to do this? What's a reasonable rate to ask? A friend of mine has prime + .5 unsecured which is ridiculous. Would asking for prime + 1.5% be reasonable?