Skip to main content
5 votes
Accepted

Is there such a thing as a BELOC (Business Equity Line of Credit), like a HELOC?

A Home Equity Line Of Credit (HELOC) is simply a special type of secured credit. Secured credit is credit provided to you, where the lender has some rights to an associated asset in the event that you ...
Grade 'Eh' Bacon's user avatar
4 votes
Accepted

Does a declined request to increase my credit limit hurt my credit score?

There are really only two ways that your credit limit will be increased on a standard credit card: You ask for it Most of the time this means you'll see a new hard inquiry on your credit report. ...
CactusCake's user avatar
  • 3,463
4 votes
Accepted

Using a line of credit for long-term investing

Sure, you'd make an $8.33 during that first month with little extra risk. Sounds like free money, right? (Assuming no hidden fees in the fine print.) I don't know that the extra money is worth the ...
NL - Apologize to Monica's user avatar
4 votes
Accepted

Market Line of Credit vs Debt - where to prioritize?

You're essentially borrowing money to invest in the stock market (whether that was your initial goal or not, that's effectively where you are now) which is a risky proposition. You're paying a ...
D Stanley's user avatar
  • 136k
3 votes
Accepted

Can/should you pay the down payment for your house on a line of credit?

A couple of things: the interest rate on my line of credit is only ~5.5% The line of credit is a loan. The lender will have to factor in the line of credit terms when calculating how much mortgage ...
mhoran_psprep's user avatar
3 votes
Accepted

How/why to borrow against assets?

What is the end game? It depends upon the tax jurisdiction that you are subject to. Step Up In Basis v. Estate Taxation In A U.S. End Game In the U.S., if you hold onto a capital asset until death, ...
ohwilleke's user avatar
  • 719
3 votes
Accepted

Buying a house with credit line and getting a mortgage later

Technically a mortgage is not a credit to buy a house but a credit that is secured against a house (in case you default in your debt the creditor gets to sell the house to recover it). So there is ...
SJuan76's user avatar
  • 2,545
2 votes

Paying for Spouse's Education with Savings vs Line of Credit vs RRSP (LLP)

Why not a 4th, but arguably better option? Normally with big money decisions there is always another option! Why not Cash flow the 15k? Why you wouldn't go for: Option 1 - Never reduce your ...
MattR's user avatar
  • 131
2 votes

Does a declined request to increase my credit limit hurt my credit score?

If the card issuer makes a "hard pull" of your credit history, a new hard inquiry will be added to your report and your score will be affected by a few points. This may or may not have an effect on ...
Rakurai's user avatar
  • 293
1 vote

Some companies charge a fee for using their credit card. What is this fee called?

Usually it is called a "convenience fee", but they could call it anything they want I guess. Depending on the card issuer and state, this practice may be against the rules for the merchant to do this (...
JohnFx's user avatar
  • 53k
1 vote

Should I get a personal loan or a line of credit?

Don't get a loan, just to improve your credit score. Being debt free is one of the best things in life. Avoiding Debt completely: If you don't have emergency fund, first set it up. The remaining ...
Venkataraman R's user avatar
1 vote

For a major expensive home renovation (e.g. addition, finished basement, or new kitchen) should one pay cash or finance with a loan? Would such a loan be "good" debt?

Some good points were added here, but in the end its about opportunity costs of money. Let's say you could fully finance, partially finance or pay in cash. The money percentage you put down influences ...
Thomas 's user avatar
  • 996

Only top scored, non community-wiki answers of a minimum length are eligible