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Originally posted by m2611

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Originally posted by rajcanada

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So my question is
1.If I process this personal LOC from TD & don't use - will this affect my credit history
2. If I process this personal LOC from TD & really use when required - will this affect my credit history

Please also remember, for this personal LOC from TD which is Pre-approved by bank they will not check my credit history during processing

Thanks

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It does not matter if this "offer" gets expired. Either the TD bank has already checked your history or will check your history before giving you your final LOC. I have not seen any bank providing LOC without checking your credit history even if you are their customer. Can they provide you in writing that they will not check your credit history? Every time you apply for credit and your history is checked, your score will come down by few points but should go back up after some time.

If you really want additional credit, you can apply again after your closing. At least this way you will not be disturbing your credit history and score until the day of closing and the bank would have already provided you with mortgage money.

If you really want additional credit now then you should consult a professional in this field.