Credit, Loans and Debt: Lines of credit

A line of credit can be a good short-term loan solution; it often has lower interest rates than other credit products such as a credit card advance or account overdraft, and different repayment options. A line of credit works by allowing you to withdraw money, as needed, up to a maximum credit limit. You are charged interest from the day you withdraw money, until you pay the loan back in full.

As with other credit products, you have specific rights and responsibilities when you get a line of credit from a bank or any other federally regulated financial institution. Use the links below to get more information about your rights, and for answers to commonly asked questions about lines of credit.

Your rights and responsibilities
related to lines of credit