What's the line credit?

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What's the line credit? Is it important?

adonis · Posted: Wed Sep 19, 2007 5:35 am Post subject:

The line of credit specifies the borrower's limit extended by a lending institution on the basis of his creditworthiness. It allows him to obtain number of loans without re-applying each time as long as the total fund does not exceed the limit.

Guest 0.10 Dollars($)

Are you speaking of an home equity line of credit?

livinginnky · Posted: Wed Sep 19, 2007 12:18 pm Post subject:

A "line of credit" or "credit line" is any account that a lender has given you that involves a loan of money for anything. Credit cards, auto loans, mortgages, heloc's are all lines of credit.

liaoyu03 · Joined: 09 Sep 2007 Posts: 198 7.29 Dollars($)

Hi. The line credit is a credit limit needed your credit and applying. you can be allowed when you need it. when you repay the credit that you have used, it becomes available to you to use again quickly. you don't have to apply again ,when you been approved.
it can be used when you expect to have ongoing expenses for which you need to borrow money. When you have a complex credit needed or expect you will need to borrow frequently , you'd better use the line of credit may be the solution. the line credit has a lower interest than ordinary credit card .
So, it's very important for you.

larry · Joined: 27 Jun 2007 Posts: 3328 473.40 Dollars($)

Hi Guest,

A line of credit is a type of credit arrangement in which a financial institution offers a specified borrower to have immediate access to a predetermined amount of credit upon demand. He can demand the cash without even applying for a loan.

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