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 What is the purpose of a line of credit?

Answer Lenders offer lines of credit, or loan terms, to borrowers. A debtor may borrow up to the maximum amount of the credit line.Credit CardsA credit card offers borrowers terms at either a fixed or a v... Read More »
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Top Q&A For: What is the purpose of a line of credit

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 »
http://www.ehow.com/how_6812355_merge-line-secured-credit-line.html

Is it Wise to Consolidate Credit-Card Debt Into a Home-Equity Line of Credit?

An acquisitions specialist buys products and services for her company, often for resale. Acquisitions specialists are often referred to as buyers or purchasing agents. They often determine which ty... Read More »
http://www.ehow.com/decision_6957465_wise-debt-home_equity-line-credit_.html

What is Home Equity Credit Line of Credit (HELOC), whst is the advantage and disadvantage of that?

A Home Equity Line of Credit is a line of credit based on the precentage of your home you have already paid for. For Ex. you have a loan for $100,000 and you have paid 30,000 of it off and owe $70... Read More »
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How long do you need an active credit line to achieve a valid credit score?

On One Hand: Just a Few MonthsIf a borrower opens up a trade line and uses it frequently, it should take him just a few months to create a valid credit score. However, it should be noted that the c... Read More »
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