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Line of Credit

We’ve got you covered if you need help financing your current reno, an out-of-nowhere expense or to consolidate higher interest debt. Borrow what you need when you need it.

  • Great rate: 2.99% for the first 3 months o
  • No annual fee
  • Apply online and get approved in minutes*

What is a line of credit?

A line of credit lets you borrow up to a set limit, often at lower rates than credit cards.

 

Use and reuse those funds as needed — no need to reapply. It offers flexibility to borrow anytime and for any purpose, up to your available credit.

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A smart way to borrow

Low variable interest rate†. No annual fee. Borrow up to $30,000*.

Flexible repayment

Pay off your balance at your own pace only making your minimum payments. Use and reuse available credit as you need it.

Simple online convenience

Apply online in minutes. Get easy access to your funds online.

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Eligibility checklist

If you meet the conditions, you could be eligible for a Personal Line of Credit.

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Find out if you’re eligible to apply for a Tangerine Line of Credit

✔️ Age of majority in the province or territory where you live

✔️ Permanent resident of Canada 

✔️ Clear of bankruptcies for at least 7 years

Once you apply, we’ll check whether you meet our other credit criteria and will let you know if you’ve been approved.

Put your credit into view

Just about any major purchase in your life can be connected to your credit. So knowing and understanding the basics can help you accomplish your goals.

Check your TransUnion credit details

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Uses of a Personal Line of Credit

One great advantage of using a personal line of credit to borrow funds is its flexibility. It can cover many different types of expenses and can be used and reused as needed.

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A rainy day or emergency fund

If you don't have accessible savings, a line of credit can offer quick access to borrowed money when you need it.

Ongoing projects

Facing home repairs? The flexibility of a line of credit can make it ideal to cover your expenses.

Consolidate higher-interest debt

Carrying debt on your credit cards or other high-interest loans can be costly. Consolidating your debt with a line of credit could help you pay less in interest.

Unexpected travel or trip expenses

Cover costs of unplanned travel or unexpected trip expenses.

Large planned expenses

If your savings aren’t sufficient to cover education costs, wedding expenses, or other planned expenses, a line of credit could be a good solution to cover the difference.

Credit to use when & how you need it

Apply in minutes and enjoy flexible access to funds, up to your approved limit, at a low interest rate.

Don’t have our Mobile Banking app3 yet? Download it today, so you can bank easily from anywhere.

Sticky Notes

Personal Line of Credit FAQs

To be eligible for a Tangerine Line of Credit, you need to have reached the age of majority in the province or territory where you live. You also need to be a permanent resident of Canada and be clear of bankruptcies for at least 7 years. Once you apply, we'll check whether you meet our other credit criteria and will let you know if you’ve been approved.
 

A personal line of credit can help or hurt your credit score, depending on how you use it and make payments on it. It may improve your credit score by adding to your credit mix and building your credit history—particularly if you make payments on time.
 

Using your line of credit responsibly—by borrowing within your credit limit and making regular payments on time —can be a great way to build your credit over time.
 

However, missing payments or not paying at least the minimum amount when due each month can negatively impact your score, just like with any other credit product.
 

Check your credit score to help you stay on top of your credit health. https://www.tangerine.ca/en/tools-and-calculators/credit-score

There’s currently no annual fee or monthly fee for a Tangerine Line of Credit. However, certain other fees may apply—for example, an over-limit fee may be charged if your balance exceeds your approved credit limit. Remember that fees are subject to change.
 

When you borrow money, you agree to pay it back with interest. A loan is typically expected to be paid off over a set period of time with fixed payments. A line of credit allows the flexibility to repay as much as you want or as little as the minimum payment each month. You can pay your balance in full at any time without a penalty on a line of credit.

 

A loan isn’t a revolving form of credit, which means that once the debt is paid off under a loan, you no longer have access to re-borrow those funds and would need to reapply in order to borrow once again. 

 

A line of credit is a revolving form of credit, which means you only need to apply once and can borrow up to your credit limit, unless you’d like to increase your credit limit and then an additional application for that increase may apply. With a line of credit, you can borrow up to your credit limit, pay the funds back, and borrow again.
 

Currently, once you’re approved for a Tangerine Line of Credit, the credit limit can’t be increased.

 

Join with our Mobile Banking app

Become a Client completely digitally with our Mobile Banking app3. Sign up without leaving your home or having to call us—it’s a fast, convenient and secure mobile experience.

Don’t have our Mobile Banking app3 yet? Download it today, so you can bank easily from anywhere.

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Take a look at our other products

Home Equity Line of Credit

Borrow at a low interest rate using the equity you’ve built in your home.

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Money-Back Rewards on everyday purchases. 

o The Introductory 2.99% Rate Offer (the “Offer”) applies if the new Tangerine Line of Credit (the “Account”) is opened (regardless of the date you apply for the Account) and will continue for 3 months from date of Account opening (the “Promotional Period”). After the Promotional Period, the promotional 2.99% interest rate on any unpaid balance in the Account will increase to the regular variable annual interest rate that applies to your Account. Offer may be changed, cancelled or extended at any time without notice and cannot be combined with any other offers.

Losing your promotional rate: If we don’t receive the minimum payment on your Account by the payment due date on your statement, two consecutive times, you will lose the benefit of this promotional rate Offer and the interest rate that applies on any unpaid balance will increase to the regular variable annual interest rate that applies to your Account.

How we apply payments: Your payment cannot be applied to the balance(s) of your choice.

For Quebec residents: If there are different annual interest rate(s) on the Account, we apply your payment first to the amounts on your New Balance shown on your Monthly Statement, with the highest annual interest rates, then to other amounts in decreasing order of annual interest rates, then to any other amounts owing on the Account including on any Advance or transactions that have not yet posted on your Account.

For other residents: In general if you make a payment that exceeds your minimum payment, we will apply your payments to the Account on a proportionate basis among each group of billed charges on your Account. We group charges based on the interest rate that applies to the group of charges. See your Tangerine Line of Credit Account for more information about how we apply payments to your Account.

*Subject to credit approval and other conditions. Online approval pending credit checks and eligibility.

† The interest rate on your Tangerine Line of Credit is set out in your Tangerine Line of Credit Account Agreement and is expressed as Tangerine’s Prime Rate plus an adjustment factor. The interest rate you pay on your Line of Credit will vary automatically when Tangerine’s Prime Rate changes. “Prime Rate” is the prime lending rate published from time to time by Tangerine and is subject to change without notice. Access to funds on your Tangerine Line of Credit Account are subject to available credit. See your Tangerine Line of Credit Account Agreement for more details about the Tangerine Line of Credit. Go to tangerine.ca/en/rates (Other Rates) for Tangerine's current Prime Rate.

3 Some conditions may apply. Service is subject to availability and successful digital verification.

4 As of May 21, 2025 there were 44.7K reviews with an average rating of 4.5 from the Google Play Store and 72.5K reviews with an average rating of 4.8 from the App Store.

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