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What is the difference between line of credit and revolving credit?
A line of credit is one type of revolving credit, which works similarly to a credit card. Both a line of credit and revolving credit have a set amount available to use, and when you pay down or pay off the amount, the credit is available for you to use again. A line of credit may use collateral to secure the loan, such as a business building, or it may be unsecured or without collateral, such as a credit card.
What kind of collateral is used for a personal loan?
It depends on the type of personal loan. It is possible to get a loan using only a good credit score as collateral. If you do not have good credit, it is still possible to get a loan without collateral, but you can expect to pay a much higher interest rate. It is also possible to use a vehicle or property as collateral.
Do you have to have have homeowners insurance with a credit line?
Yes, if the line of credit is a home equity line where the home is the collateral for the loan then you will have to prove that you have insurance on the home for the home equity loan. Any time you use collateral for a loan then part of the loan agreement will involve proof of insurance on the collateral.
Where can I gert a loan using my car as collateral?
I dont have great credit & need a loan bad I have a 2004 Chevy Venture Van paid for that i can use for collateral where can I go to get a loan?
Where can you find a bad credit lender in Van Nuys California?
The Collateral Loan Credit Lender in Van Nuys lends to those with bad credit. You must have some form of collateral in exchange for your loan.
What is the difference between line of credit and revolving credit?
A line of credit is one type of revolving credit, which works similarly to a credit card. Both a line of credit and revolving credit have a set amount available to use, and when you pay down or pay off the amount, the credit is available for you to use again. A line of credit may use collateral to secure the loan, such as a business building, or it may be unsecured or without collateral, such as a credit card.
What kind of collateral is used for a personal loan?
It depends on the type of personal loan. It is possible to get a loan using only a good credit score as collateral. If you do not have good credit, it is still possible to get a loan without collateral, but you can expect to pay a much higher interest rate. It is also possible to use a vehicle or property as collateral.
Do you have to have have homeowners insurance with a credit line?
Yes, if the line of credit is a home equity line where the home is the collateral for the loan then you will have to prove that you have insurance on the home for the home equity loan. Any time you use collateral for a loan then part of the loan agreement will involve proof of insurance on the collateral.
Is credit card debt unsecured, meaning it is not backed by collateral?
Yes, credit card debt is unsecured, which means it is not backed by collateral.
Where can I gert a loan using my car as collateral?
I dont have great credit & need a loan bad I have a 2004 Chevy Venture Van paid for that i can use for collateral where can I go to get a loan?
Where can you find a bad credit lender in Van Nuys California?
The Collateral Loan Credit Lender in Van Nuys lends to those with bad credit. You must have some form of collateral in exchange for your loan.
What are the 3 Cs of credit?
The three C's of credit rating are Capicity,collateral, and Character.
Which credit card option allows for the fastest building of credit?
A secured credit card is often the fastest option for building credit because it requires a cash deposit that serves as collateral, making it easier to qualify for and use responsibly.
What kind of a credit card can customers with a bad credit history get?
One that's secured by collateral
What are the 3 C's of credit rating?
The three C's of credit rating are Capicity,collateral, and Character.
What does credit include?
credit include- collateral , interest rate , documentation requirement and mode of repayment
What kind of credit card can customer with a bad credit history get?
One that's secured by collateral
