How is a line of credit different from a loan?

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asked Sep 24, 2019 228k views

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Axiac · Answer 1 · 2019-09-28T20:53:57+0000

A line of credit is similar to a credit card in that it is a flexible borrowing solution. You can draw on this revolving loan simply by writing a check. you are also able to borrow any part of your credit line again once you have paid it off.

How is a line of credit different from a loan?

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