Hello,
I am thinking of switching my personal unsecured LOC (balance 5k, prime +4) and chequing account ($13.95/month) from BMO to PC Financial.
I no longer have my mortgage with BMO (switched to CIBC) and my various investments (RRSP,RESP) are handled through an investment channel affiliated with my employer.
Since I only have two products left with BMO, my thought was to save some money in service fees and interest. That said, what is the best way to go about in doing this? Will I hurt my credit score if I open a LOC somewhere else and close the one with BMO?
Finally, is Prime +2.75 a good rate for an unsecured LOC? This is what PC offered…much better than the Prime +4 I currently have with BMO.
Thanks for the input.
I am thinking of switching my personal unsecured LOC (balance 5k, prime +4) and chequing account ($13.95/month) from BMO to PC Financial.
I no longer have my mortgage with BMO (switched to CIBC) and my various investments (RRSP,RESP) are handled through an investment channel affiliated with my employer.
Since I only have two products left with BMO, my thought was to save some money in service fees and interest. That said, what is the best way to go about in doing this? Will I hurt my credit score if I open a LOC somewhere else and close the one with BMO?
Finally, is Prime +2.75 a good rate for an unsecured LOC? This is what PC offered…much better than the Prime +4 I currently have with BMO.
Thanks for the input.