Personal Line of Credit vs. Credit Card: Which Is Better?
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Editor’s note: Lantern by SoFi seeks to provide content that is objective, independent and accurate. Writers are separate from our business operation and do not receive direct compensation from advertisers or partners. Read more about our Editorial Guidelines and How We Make Money.
What Is a Personal Line of Credit?
How Does a Personal Line of Credit Work?
What Is a Credit Card?
How Does a Credit Card Work?
Personal Line of Credit vs. Credit Card: What Are the Differences?
Access and Rewards
Credit Terms and Limits
Application Requirements
How They Affect Credit Score
Making payments on time. Keeping your total credit utilization under 30%. Maintaining your personal line of credit and credit cards as long-standing accounts to increase the length of your credit history.
The Takeaway
Frequently Asked Questions
Photo credit: iStock/Anchiy
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About the Author
Kelly Boyer Sagert is an Emmy Award-nominated writer with decades of professional writing experience. As she was getting her writing career off the ground, she spent several years working at a savings and loan institution, working in the following departments: savings, loans, IRAs, and auditing. She has published thousands of pieces online and in print.
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