I build my trap lines with no compensation for creep. Creep didn't appear to be a problem in the sets I have made so far.
I use a loop as that allows a fishermans hitch around any ring or shackle which is perfectly secure and allow quick and easy assembling/disassembling of trapeze line components. I learned from rock climbers about how practical closed loops are in securing lines. Through the same route I learned about the double figure 8 knot.
Additionally, this double figure 8 knot can double up as the knot holding the handle in place. It is nice and thick.
Wouter