How Do Lines of Credit Work?

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How Do Lines of Credit Work? – This is a place for the community to provide tips and advice on How Do Lines of Credit Work?. This topic was created by Cynthia Hauck and the tips are provided by the community. The tips you add here can be your own or referred from another site. The best tips are then ranked at the top when up-voted by members of the community.

Tip 1 - The Basics Of Lines Of Credit

Published: 9 years, 2 month(s) ago | Submitted by wwwzedobenchcom | permalink

Lines of credit are potentially useful hybrids of credit cards and normal loans. Learn how a line of credit can help (and hurt) your finances, and how to find the best one to suit your needs.
Tags: Personal Finance

For further reading: http://www.forbes.com/sites/investopedia/2013/08/06/the-basics-of-lines-of-credit/ ^[1]

Tip 2 - How Lines of Credit Work

Published: 9 years, 2 month(s) ago | Submitted by Scott Moote | permalink

A line of credit can be a useful tool for a consumer or small business owner. Learn how lines of credit work at HowStuffWorks.
Tags: lines of credit, equity line of credit, business line of credit, line of credit

For further reading: http://money.howstuffworks.com/personal-finance/banking/lines-of-credit.htm ^[2]

Tip 3 - How to Use a Line of Credit to Your Advantage - The Simple Dollar

Published: 9 years, 2 month(s) ago | Submitted by Gavin Rajah | permalink

Your local bank or mortgage lender may be able to offer you a line of credit, though it's not always advertised. In times of financial hardship or emergenc

For further reading: http://www.thesimpledollar.com/how-to-use-a-line-of-credit/ ^[3]

Tip 4 - The Difference Between a Loan and a Line of Credit

Published: 9 years, 2 month(s) ago | Submitted by Teoh Hwa | permalink

A line of credit is a pool of available money that you can borrow from. Find out how they work and how they differ from other loans.

For further reading: http://banking.about.com/od/loans/p/lineofcredit.htm ^[4]

Tip 5 - How Line of Credit Works - Video | Investopedia

Published: 9 years, 2 month(s) ago | Submitted by Tcboy 88 | permalink

A line of credit is an arrangement where a bank offers a maximum loan amount that the borrower can draw upon at any time. The borrower – which can be an individual, business or government entity – has the flexibility to take out as much as they want, up to the maximum amount.
Tags: line of credit,personal loan,small business loans

For further reading: http://www.investopedia.com/video/play/how-line-credit-works/ ^[5]