You can access the home equity line of credit at any time you want but
without going over the credit limit.
Not exact matches
Credit cards have a preset spending
limit, which you are not allowed to
go over without being penalized or having your card declined.
Your card issuer will let you
go over without charging a penalty, but to protect your
credit score, keep your purchases below that soft
limit.
Some of my
credit cards have
gone over limit by a significant amount (e.g. 140 % of
limit)
without any transactions being declined.
If you
go over your
credit limit and / or miss repayments, your bank might lower your
credit card
limit without asking you.
It's common to want to balance the potential need for immediate access to cash
without the risk of
going over your
credit limit or being turned down for an additional loan.
The law took specific aim at a range of requirements for
credit card companies that prevent them from doing things like giving
credit without assessing a consumer's ability to pay, arbitrarily raising interest rates for being a day late with payment, or allowing a consumer to
go over the
limit with a card before imposing a fee for doing so.
Credit cards have a preset spending
limit, which you are not allowed to
go over without being penalized or having your card declined.