Tuesday Jul 22, 2014

Using Your Royal Credit Line at Royal Bank of Canada

14 April 2009

prestamo quirografo 150x150 Using Your Royal Credit Line at Royal Bank of CanadaWith a bit of management you can use your Royal Credit Line from Royal Bank of Canada (RBC) for your everyday expenses, home renovations, investments and to pay off other debts you might have. As a matter of fact, you do not even need to borrow right now, it is better that you apply for Royal Credit Line today for future expenses. Once your credit line has been established you can have peace of mind knowing that you have ready for any emergencies or unplanned expenses.At RBC there are two types of line of credit; a Secured Line of Credit and an Unsecured Line of Credit. A Secured Line of Credit allows your real estate holdings, or guaranteed investments to secure a higher credit limit. Your credit limit is from $5,000 to as much as 80% of the equity in your home, less than any prior mortgages. There are competitive interest rates to match any other bank.

An Unsecured Line of Credit is a quick and easy approval process. Your credit limit is from $5,000 to $50,000 with no security required. An interest rate is given based on your financial standings.

With a Royal Credit Line, once you apply once and never have to apply again. Once your account is in good standing there will always be credit available for you. Money is at your fingerprints; you can write a cheque, withdraw or transfer money at an RBC ATM Machine or through Telephone Banking or Online Banking.

With your Royal Credit Line, you can manage it easily with the variety of payment options which will be able to suit your needs. You can set a fixed payment schedule which can include principal and interest; pay interest only on a monthly basis with the payments at your discretion. You can have your payments scheduled for your budgeting ease. The only requirement with RBCs Royal Credit Line is that you repay the interest owing each month, but you can pay more without a penalty.

RBCs Royal Credit Line is a great way to help with expenses, present or future ones. Well what credit line isn’t, but with RBC you are banking knowing you are getting the best customer care.

About the Author

Sensei

My favorite weapon of choice is the samurai sword. I use it to cut my chicken during dinner, cut my hair and periodically carve my name into stone when I am bored. I love meditating on top of a 15ft high pole and eating those sushi’s with smoked salmon on top. I love everything there is about Canada and everything financially related to Canadians. I write deily posts from Canadian Banks to Credit Card information.

Comments (3 )



Jason Sawler Wrote:

Don’t count on your low credit line rate to last. I have an RBC credit line with a limit of 20,000 – interest rate of prime plus 1.25% – I recently received a notice that the new rate will be prime plus 3.75%. I was told the bank can change the rate any time they want :(

[Reply]

Bank Guru Wrote:

Well this article is a couple months old but still that is really unfair of the Bank to change the rate ‘anytime they want’. Makes it hard to manage your finances for certain individuals who rely on credit.

[Reply]

Jim Wrote:

If you chose to deal with this bank get something in writing as to what they can do with there “premium” rate. I just got notice that this rate is increasing by 1% to prime plus 3.25% on an unsecured line of credit. So thats 2.25% plus 3.25%. A little excessive. Annoying more then anything else.

[Reply]

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