Personal Line of Credit
Access funds whenever you need them with a revolving line of credit that gives you the flexibility to borrow, repay, and borrow again - all without reapplying each time.
Apply Now Calculate a PaymentFlexible Access to Funds
A Personal Line of Credit gives you ongoing access to funds up to your approved credit limit. Unlike a traditional loan, you only borrow what you need and only pay interest on the amount you use. As you repay your balance, your available credit is restored, giving you continued flexibility for future expenses.
How a Personal Line of Credit Works
A Personal Line of Credit is designed to provide ongoing access to funds whenever you need them.
- Apply once and receive an approved credit limit.
- Borrow only the amount you need.
- Pay interest only on the amount you've borrowed.
- As you repay your balance, your available credit is restored for future use.
Borrow as Needed
Access funds whenever you need them without applying for a new loan each time.
Revolving Credit
As you repay your balance, your available credit becomes available to use again.
Pay Interest Only on What You Borrow
You're charged interest only on the portion of your credit line that you use - not your full approved limit.
When is a Personal Line of Credit a Good Choice?
- Cover unexpected expenses
- Finance home improvements
- Manage temporary cash flow needs
- Prepare for emergencies
- Borrow over time instead of taking one lump sum
Personal Line of Credit vs. Signature Loan
| Personal Line of Credit | Signature Loan |
|---|---|
| Borrow as needed |
Receive one lump sum |
| Revolving credit | Fixed loan amount |
| Available credit is restored as you repay | New application required for additional funds |
| Pay interest only on the amount borrowed | Interest applies to the full loan amount |
Frequently Asked Questions
What is a Personal Line of Credit?
A Personal Line of Credit provides ongoing access to funds up to your approved credit limit. You can borrow only what you need, repay it over time, and reuse your available credit without applying for a new loan.
How is a Personal Line of Credit different from a Signature Loan?
A Signature Loan provides a one-time lump sum with fixed monthly payments. A Personal Line of Credit allows you to borrow funds as needed and reuse your available credit without applying for an ew loan.
Do I pay interest on my entire credit limit?
No. Interest is charged only on the amount you borrow, not your full approved credit limit.
Can I borrow again after repaying my balance?
Yes. As you repay your balance, your available credit is replenished and can be used again up to your approved limit.
Helpful Resources
Looking for financing without collateral? Learn more about our Signature Loan options.
Use eligible collateral to potentially qualify for competitive rates and affordable monthly payments.
Estimate your monthly payment before you apply.
Ready for Flexible Financing?
Whether you're preparing for the unexpected or planning ahead, a Personal Line of Credit gives you convenient access to funds when you need them most.
Apply for a Personal Line of Credit
