Line Of Credit / Credit Loan
A line of credit loan is an online cash loan where credit is extended to individuals to be used as needed over a period of time. It uses a debit card to provide the credit, which the consumer uses for purchases. A line of credit varies in the total amount that is made available to the consumer, but is flexible in how much is borrowed and how frequently. The lender will set a maximum amount the individual can borrow, allowing them to access the funds on an as-needed basis.
- Like a payday cash loan, a short-term line of credit is non-secured which means physical collateral is not required to secure the loan. The lender assesses the borrower’s ability to repay the loan based on the information submitted in the application.
- A line of credit enables an individual to draw upon the line of credit at any time to pay a bill or make a purchase as long as the credit limit is not exceeded.
- Borrowers are typically not charged interest on the unused funds in the line of credit.
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A "personal loan" is a financial product that provides consumers with a low amount, short-term cash loan. These loans are typically 2-3 weeks in duration and are not based on the borrower’s credit. Using a simple application, like the one on this website, personal loans provide borrowers with a financial option for quickly acquiring the money they need to cover small unexpected expenses.
Installment loans are very similar to online personal cash loans in that it's a lending product that enables consumers to quickly acquire money needed to pay for immediate, and often, unexpected expenses. However, an installment loan is repaid over time based upon a set number of scheduled payments, instead of one lump sum like a personal cash loan.
Auto title loans, also referred to as car title loans or cash title loans, are a type of secured loan where the borrower can use their vehicle title as collateral. Borrowers must allow a lender to place a lien on their car title, and temporarily surrender the hard copy of their vehicle title, in exchange for the loan.
A line of credit loan is an online cash loan where credit is extended to individuals to be used as needed over a period of time. It uses a debit card to provide the credit, which the consumer uses for purchases.
A line of credit loan is an online cash loan where credit is extended to individuals to be used as needed over a period of time. It uses a debit card to provide the credit, which the consumer uses for purchases.
