Personal Loan vs Credit card vs Line of credit which should I get?

showmethepaper

Ok so here is the scenario I have a 665 Equifax Score and a 660 Transunion score I have one collection on my account for $297 that has a last payment(activity) date of 2013/04 which means it should be coming off at the end of april 2019.

I have only 1 secured capital one credit card for $300 I have used that to rebuild my credit from 520 to 665+ in the last 6 months.

6 months ago I applied for a Canadian Tire triangle rewards CC and got denied because my score was too low I have a decent paying full time job and make around $20.00 an hour (36-42k annually)

Im looking for either a Personal Loan, Line of Credit or a Credit card.

The reason I need these products is because I want to help my father pay off some of his outstanding debts such as credit card taxes and bills + I also want to put a down payment on a new vehicle possibly. Dad has about 5k in CC debt and 10k in City Tax debt + behind 1 payment on mortage of $800.

out of a PL,LOC or CC which is the best option for me?

P.S dont have to pay all those debts I mentioned above at once might but 2500 on CC and work out payment plan for taxes so Im looking for a 5-20k loan or LOC or CC with that limit

sourcrates

Hi,

What country are you in, I’m guessing the USA, or Canada ?
both lovely countries, lucky you, but this site is UK based, and we cannot really comment constructively as the systems are so different to over here.

I am sorry we can’t be of much use to you.

showmethepaper

Toronto Canada

showmethepaper

np thanks for the quick response though