From microloans (hundreds of dollars) to major loans (six figures), these loans allow you to
open a line of credit where you don't start paying interest until you reach your maximum.
Not exact matches
Lines of credit on the other hand, are
open accounts
where you can withdraw the amount you need, when you need it and repay it as you can, provided that you return every month a minimum payment that usually consists on the interest for the money that you withdrew.
Opening new
lines of credit, even in cases
where you are refinancing and replacing a current
line of credit, will always impact your score in the short term.
must be able to be
opened in - branch at any branch in all or the majority
of the Canada's provinces and territories or
opened online through non-face-to-face account
opening procedures without requiring a mobile mortgage or banking specialist to come to your home
where the product will be sold in conjunction with a mortgage / home equity
line of credit
This is the portion
of your score
where recently
opened credit lines and inquiries come into play.