Line Of Credit

Eugine · #1 (**permalink**) 01-19-2011, 03:08 AM

A line of credit (also called a credit line or credit limit) is the maximum amount of money a bank will lend to an individual or business without requiring additional approval. The lender determines a line of credit based largely on the individual's credit worthiness and income potential. Certain large corporations and high-profile public figures have such a substantial line of credit they can literally borrow money against it for a lifetime.

Gillogly · #2 (**permalink**) 01-22-2011, 08:08 AM

Lines of credit are often extended by banks and financial institutions... to creditworthy customers to address liquidity problems; such a line of credit is often called a Personal Line of Credit. The term is also used to mean the credit limit of a customer, that is, the maximum amount of credit a customer is allowed.

loanguy7 · #3 (**permalink**) 02-20-2011, 06:01 PM

you can get a asset based loan as a credit line alternative as well as HELOC are tough to get even with 800 credit scores and low LTV.

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