Hi Paul

I agree with the sentiment stated by Richard (above). Unsecured PL's are very hard to obtain now.

I have had some success with obtaining Personal loans for clients, but only when those clients have a pre existing relationship with that lender,  have strong asset backing, stable income and no adverse credit. All the majors advise they still provide PL's but if you are "new to bank" your likelihood of success with that bank is very slim.

Interest rates vary from 12- 16% for unsecured personal loans but would normally be at the higher end of the scale now.

If you do seek an increase by CC – review the actual cost of cash advances with that CC as the rates for cash advances can be different from purchases.

Please also be aware if transferring CC balance to a new lender, be aware of honeymoon offers (such as Citibank offering now – 0% for 6 months on balance transfer but rate converts to19%). Other providers at around 12%pa may be a better option.

Kind regards
Brett Tayler
Finance Manager
Visionary Lending Solutions
ph 07 3226 9064

[email protected]