Talked to a "Financial Advisor" of my bank and he said some banks won't care about the higher LOC limits and some will. if i have insane outstanding balance it could effect mortgage rates. but i can cut down the limit any time i want, which is good to know. so i accepted the offer.

Also he said if i go for mortgage with them i can add that LOC limit in my mortgage.

thanks everyone for your valued suggestions/opinion.

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Inderpal Singh
Sorry - yesterday was the deadline for all complaints
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I am also AGAINST LOC ...

Why do u need to keep LOC at higher range ?

If u can maintain your credit then u don't need LOC , u can go to bank anytime for money for different loans ( again u hv to maintain your credit)

AND YES, loc when u apply for bigger loan like mortgage or business, even though u dont use LOC its still saw as liability.

And again, LOC rates change along with prime rate , so why bother , when u need money go to bank at that time and get the best possible rates...

BUT IF u r investor and u want to take chance of current low intrest rate then go for it or else u dont need to ..

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'Some goals are so worthy, it's glorious even to fail.' (Param Vir Chakra awardee Lt. Manoj Pandey)

HI Investpro !
Can you please check your PM ..
AG
ashwani72 at hotmail dot com

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Growing Old Is Mandatory ..Growing UP is Optional