Line of Credit: Good Idea, or Bad Idea?
April 28, 2011 6:55 AM Subscribe
Financing company offered me a 2000$ line of credit. I have questions.
posted by br4k3r to Work & Money (13 answers total) 1 user marked this as a favorite
Questions: Is it advantageous for someone with less than stellar credit to obtain and responsibly use said line of credit?
My interest rate is retarded, prime +19.50% (my credit card is the same rate, and my car loan is not too far under that).
I don't really "need" the money, but should I apply, use it a little bit and pay it off right away? Will this help me establish more credit?
I need help mefi! Let the discussion begin.