Equity Miles
Aug 28, 2005 | 12:31 pm
#2
Join Date: Aug 2005
Location: SFO
Programs: UAL:1K, DL:Plat, CO:Plat, HH:Diamond, SPG:Plat
Posts: 338
Go through the awards network. Wachovia is the only lender that is still participating in the HELOC bonus and have really tightened their rules and regulations (also made it more expensive and time consuming to get the loan) bc so many people got loans strictly for the miles. There is an entire thread on this subject if you search for it. I think you are better off getting the loan through another bank as you will get a better rate and end up paying more for the miles than its worth.
Aug 28, 2005 | 12:33 pm
#3
Join Date: Aug 2005
Location: SFO
Programs: UAL:1K, DL:Plat, CO:Plat, HH:Diamond, SPG:Plat
Posts: 338
Originally Posted by Joe Harris
Which airline has the best mileage plan for home equity loans? I am taking out a small loan (50-75K) for home improvements and wish to supplement my mileage account.
Joe
Joe
Sep 6, 2005 | 9:18 am
#6
Join Date: Dec 2000
Location: Sebastopol,CA
Posts: 180
Originally Posted by Joe Harris
You are right. My bank is running a prime minus 1/2% for the loan life special.
My last Wachovia was at prime minus 1/2%, no points, fees, or appraisal fee. I received 5000 United miles for each 10,000 borrowed (for my loan it was 250,000 miles for $140 interest cost).