What is a bank line of credit?

Answer A line of credit is a type of loan received from a financial institution or bank. While the specific terms of a line of credit vary from bank to bank, general similarities can be made between most ... Read More »

Top Q&A For: What is a bank line of credit

How much of a credit line increase can I ask for with Bank of America?

You can ask Bank of America for a credit line increase for as much as you need. However, Bank of America will review your payment history, income, current credit balance, credit report showing othe... Read More »

What Can You Do If Your Home Equity Line of Credit is Canceled by Your Bank?

A home equity line of credit can give you a financial cushion in case of emergency or to make some major repairs in an older home. Lenders are tightening their rules about accessing a home equity l... Read More »

When can a bank freeze a home equity line of credit account?

A home equity line of credit (HELOC) is based on the amount of equity you have in your home. Equity is determined by your home's value less the amount left on your mortgage.SignificanceIf your bank... Read More »

How to Merge an Equity Line With a Secured Credit Line?

A home equity line of credit is secured by the equity in a home. For example, if you owe $150,000 on a home and the property value is $200,000 ,you have $50,000 of equity. A secured credit line is ... Read More »