What is the line of credit?
AnswerBot
1y
Line of credit is a flexible borrowing arrangement between a borrower and a lender.
It is a pre-approved loan amount that can be borrowed as needed.
Interest is only charged on the amount borrowed, not ...read more
Anonymous
author
1y
A line of credit LOC is a preset borrowing limit that can be tapped into at any time. The borrower can take money out as needed until the limit is reached.
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