Not exact matches
One of the interesting aspects of wisely managing your
credit utilization rates is that
credit line increases are
often great news.
Just keep in mind that requesting a
credit line increase often results in a hard
credit check, which can knock a few points off your
credit score.
To avoid repayment and keep a
credit line open, borrowers
often seek a new HELOC at the end of the draw period, refinancing their HELOC so they can continue borrowing while avoiding a big
increase in the minimum monthly payment.
Like other forms of home equity loans,
lines of
credit are
often used for improvement of the home itself, thereby
increasing the value and, as a result, the homeowner's equity.