SALIENT FEATURES AVAILABLE ONLY WITH LINE OF CREDIT
A line of credit means giving extension of any financial source to a person, any business or any firm which needs credit extension. It simply gives access to person whenever he needs. People usually access credit line for biggest expenses like buying new car, managing new home in order to keep balanced other regular expenses. It is given in various forms to borrowers. For example: – Bank overdrafts, demand loan, protection drafts etc. Some special purpose credit lines come in form of export packaging credit, commercial bills purchase, traditional credit card account, discounting etc.
With line of credit facility, consumer can take benefits of up to $50,000. A borrower is supposed to pay interest fee on actual withdrawn cash for any use. It’s flexible repayment option give full control over financial matters. Even if you are not facing any expenses to meet up, you should apply for line of credit. Because it will ensure you that you are prepared for any emergency expenses in future. You will not need to run here and there in order to borrow immediate cash. Interest rates will be only implied when you will withdraw any cash.