0
CREDIT LINE - refers to purchasing power - translated into dollars your allowed to spend - not the same a cash! as in Equity line of credit - you own a house, your house is worth more then what is owed on it - therefore - you apply for a equity line of credit - you don't get cash, but you can use your equity to incur more debt..ie write checks from your mortgage bank to purchase Home improvements - cars - vacations - etc. Also some Retailers who use Mail order to sell products will send you an offer to apply for credit line and say you're credit worthy to the tune of $5,000 then they send you a Catalog, but you can only buy whats in the catalog.
Wiki User
∙ 16y ago
Add your answer:
Earn +20 pts
Do recorded mortgages need an amount?
No. Some are in the form of a credit line or commercial credit line and no amount is recited in the instrument.No. Some are in the form of a credit line or commercial credit line and no amount is recited in the instrument.No. Some are in the form of a credit line or commercial credit line and no amount is recited in the instrument.No. Some are in the form of a credit line or commercial credit line and no amount is recited in the instrument.
How do you get business lines of credit?
You can get a business line of credit by going to the bank and applying for a line of credit. You can also get a line of credit by going to a finance company.
What does it mean for an individual to have a personal line of credit?
Every individual has a line of credit. This line of credit is what determines your credit score and what will be used to approve or deny you credit cards or loans.
Is a line of credit mortgage bad for your credit score?
A line of credit is not bad by it self. It would be the balance of the line of credit that might raise some questions.
What is the meaning of revolving line of credit?
The meaning of a revolving line of credit is a line of credit that is not linked to a certain number of payments. It is the complete opposite of installment credit.
Do recorded mortgages need an amount?
No. Some are in the form of a credit line or commercial credit line and no amount is recited in the instrument.No. Some are in the form of a credit line or commercial credit line and no amount is recited in the instrument.No. Some are in the form of a credit line or commercial credit line and no amount is recited in the instrument.No. Some are in the form of a credit line or commercial credit line and no amount is recited in the instrument.
How do you get business lines of credit?
You can get a business line of credit by going to the bank and applying for a line of credit. You can also get a line of credit by going to a finance company.
What does it mean for an individual to have a personal line of credit?
Every individual has a line of credit. This line of credit is what determines your credit score and what will be used to approve or deny you credit cards or loans.
Is a line of credit mortgage bad for your credit score?
A line of credit is not bad by it self. It would be the balance of the line of credit that might raise some questions.
What is the meaning of revolving line of credit?
The meaning of a revolving line of credit is a line of credit that is not linked to a certain number of payments. It is the complete opposite of installment credit.
Line of Credit Payoff?
Line of Credit Payoff When will your line of credit be paid off? Use this calculator to see what it will take to payoff your line of credit, and what you can change to meet your repayment goals.
What is omnibus credit line?
sample format of letter of credit with omnibus line
Where can one get a line of credit?
Typically, people obtain lines of credit from their bank or credit union. Some businesses offer their employees a line of credit as well. Businesses may obtain a line of credit from another business.
What happens when paying off an equity line of credit?
Nothing happens when you pay of an equity line of credit. The equity that you used for your line of credit is now safe.
Is there a line of credit calculator?
There are indeed credit line calculators online. Credit calculators are great for those who are interested in finding out how much credit they currently have.
How do you calculate effective interest rate on a line of credit?
how is line of credit interest calculated
What is a gambling line?
A gambling line is a line of credit that a casino grants you in order to gamble. It is a pre established line of credit based on your history with them.
