Key Takeaways

• A credit line has integrated freedom, which can be its primary advantage.
• A line of credit is an open-end credit account, which allows borrowers to spend the money, repay it, and spend it again in a never-ending cycle unlike a closed-end credit account.
• While a credit line’s advantage that is main flexibility, prospective drawbacks consist of high-interest prices, serious charges for belated re re payments, together with potential to overspend.