CIBC LoC

[tbear]

Has anyone gone with CIBC for their LoC? I hear a lot about RBC and Scotiabank but I haven't heard much about CIBC. The reason I ask this is because this is the bank that I am currently with. Would it be easier just to stick with getting a LoC from my current bank or would it be worth it to explore other banks as well?

[rmorelan]

Has anyone gone with CIBC for their LoC? I hear a lot about RBC and Scotiabank but I haven't heard much about CIBC. The reason I ask this is because this is the bank that I am currently with. Would it be easier just to stick with getting a LoC from my current bank or would it be worth it to explore other banks as well?

 

I would always explore our banks

 

One of the reasons CIBC doesn't come up much is in the past, and quite possibly right now, they simply don't offer their LOC at prime. They charged a higher interest rate and thus going with them would make no sense. If that has changed (and things do - info can get out of date fast) then they may become a viable option again.

[polysicks]

You made me panic I was getting hosed by the man, so I rolled open my handy file drawer out to pull out my loc paperwork

 

My CIBC line of credit, started Sept 2011, has an interest rate of prime.

[rmorelan]

You made me panic I was getting hosed by the man, so I rolled open my handy file drawer out to pull out my loc paperwork

 

My CIBC line of credit, started Sept 2011, has an interest rate of prime.

 

Hahahah you are witnessing competition in action - last year it was not prime everywhere (we check every year) so they got shuffled to the side. I really don't know what they were even thinking to be honest.

 

Puts them at least online with everyone else - what amount did you get out of curiosity?

 

- and of course you should get prime. Period.