Both personal loans and personal lines of credit offer the ability to borrow money without collateral. But the way you receive and repay the loan is very different between the two options.

Facing a big expense is stressful. Finding money for that big expense can be, too. Among your options may be a line of credit and a personal loan. A personal loan provides a lump sum of cash. A line ...

Just like an unsecured loan, there is no collateral that secures this credit vehicle. As such, these require the borrower to have a higher credit score. Personal lines of credit normally come with ...

If you have strong credit, you likely have a better shot of qualifying for a personal loan with lower rates and more favorable repayment terms. But if you have a poor credit score of 550 or lower, you ...

Whether you choose to use a line of credit or a credit card will depend on your personal situation. Here’s what you need to know about how both options work and can help you get the funds you need.

He primarily covers loans, including personal loans ... or playing tourist in her free time. Personal lines of credit allow you to cover expenses as needed, and you only pay interest on the ...

A line of credit allows you to borrow up to a pre-set balance for any purpose you like, and interest accumulates immediately on any funds you borrow. You’ll make regular payments, but payments vary ...

Most companies that offer personal loans use a risk-based pricing model to determine whether to approve your application and what interest rate to charge you. Using your credit profile, employment and ...

Her work has appeared on Business Insider, Credit Karma, LendingTree, and more. Jordan Tarver has spent seven years covering mortgage, personal loan and business loan content for leading financial ...

Statements for personal line of credit accounts are typically issued once a month, depending upon your account activity and if you have made a payment or have an outstanding balance on your account.