Both a line of credit and a credit card are types of revolving credit where you can borrow up to a certain amount and only pay interest on what you borrow. A line of credit typically has a lower APR ...

What Is a Line of Credit? A line of credit (LOC) is a flexible financial tool offered by banks and other financial institutions that allows individuals or businesses to borrow up to a predetermined ...

When individuals or businesses need to borrow money, they typically go to a bank for a loan or line of credit. Before going, however, knowing the difference between the two is important. With a loan, ...