Quote:
Originally Posted by dapperfied
I just got pre-approved from my bank (RBC) with a rate of 7.49% unsecured. Should I accept it?
|
Cool story. Without knowing your credit score, debt servicing calculations, and how valuable you are to the bank, it's useless to speculate.
My $20k unsecured LOC is Prime + 1.25% (currently 4.20% total). From what I see, this is a very good rate and is not typical - the default rate at my bank if you are not an employee is Prime + 3.50% I believe, or 6.45% currently.
-Mark