How does a credit line work

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After the draw period, the on an as-needed basis instead of taking out a fixed. But you do not pledge the standards we follow in.

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Using a Credit Card as a PLOC for #velocitybanking
A line of credit is an arrangement between a bank and a customer that establishes a preset borrowing limit that can be drawn on repeatedly. Operating like a credit card, a personal line of credit can be opened for whatever amount of money you need and be used on a revolving basis. A credit line is a flexible loan that allows you to borrow as needed up to a certain limit. Just like a credit card, you don't need to take the whole amount.

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Overdraft protection on some accounts: If you are worried about overdrafting an account, some banks will let you use a PLOC as overdraft protection. Firstly, if you have poor credit, you may not even get approved for this product. Revolving accounts such as LOCs and credit cards are different from installment loans such as mortgages and car loans. With any loan product, you can run the risk of getting into more debt than you can manage. Credit lines can be used by borrowers more than once up to their credit limit as long as they make the minimum payment.