What’s The distinction between a relative credit line and that loan?
That loan is normally for a hard and fast amount, with fixed payments, and it is paid down over a group time. You can’t re-borrow the funds which you have actually repaid. You have to apply again (and pay the involved fees) with success uncertain if you ever want more money.
A credit line, having said that, allots you a quantity of income, the borrowing limit, to utilize as so when you would like. […]