A personal line of credit is a “renewable” amount of money you can borrow from the bank. When you pay off the money you’ve borrowed, you can borrow it again. Whereas, a personal loan is a one-time ...
A line of credit is an amount of money you can borrow from a bank or credit union on an ongoing basis. You can pay it back and reborrow it at any time. But it does typically come with some unique ...
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