TD Line of Credit

[edwardalex]

Has anyone used easyweb to apply for this?

I was checking online and it said that an email response is given within 2 business days.

[ottawa_guy]

For best results, I always recommend you going to a branch.

I tried once using easyweb for a VISA increase, and got denied. Branch approved it no problem.

[smokescreen15]

I was approved for a TD LOC which I applied for through Easyweb. I called to confirm 3 days later and I received documentation about a week later.

...A strange thing did follow, I received 2 letters in the following weeks stating I was denied for the LOC. I called Easyline and they said to ignore the decline letters as it was an error in there system.

If I applied in-branch maybe I would have received a better interest rate, o well...

[Jeroyds]

Apply in branch, bring all of your financial documents (T4/Paystubs/Investments) to speed up the process. They can do the application in the office and let you know on the spot. That would be the easiest way if you're in a rush. If you have trouble making it to a branch you can always do an application over the phone, you will eventually need to visit a branch to complete the paperwork.

[budfrogs]

TD seems to have you people pre-approved for a certain amount.

When I went in they had me pre-approved for X amount. They did X-TD Visa limit and that was what I could get for my LoC with no work at all.

If you are already a TD customer they probably have this X amount already figured out. If you want more you will probably have to provide documentation and plead your case which would be better in-branch.

[Jeroyds]

TD seems to have you people pre-approved for a certain amount.

When I went in they had me pre-approved for X amount. They did X-TD Visa limit and that was what I could get for my LoC with no work at all.

If you are already a TD customer they probably have this X amount already figured out. If you want more you will probably have to provide documentation and plead your case which would be better in-branch.

This is generally for long term clients with high profitability. The average customer generally doesn't have a pre-approved amount waiting for them, they will have to complete a full application and calculate total debt servicing ratios based on annual income to determine how much (if any) credit can be extended to them.

If you're looking for $5K and they offer you $10K, the best advice I can give is take it if you can handle it. I've seen too many people come that NEED credit and are unable to get it. Get it while you have the income, but don't go crazy with it. Save it for when you really need it - ie. job loss.

[edwardalex]

I was approved for a TD LOC which I applied for through Easyweb. I called to confirm 3 days later and I received documentation about a week later.

...A strange thing did follow, I received 2 letters in the following weeks stating I was denied for the LOC. I called Easyline and they said to ignore the decline letters as it was an error in there system.

If I applied in-branch maybe I would have received a better interest rate, o well...

Did you have to go into the branch to sign any documents?