Understanding Interest Rates on Unsecured Lines of Credit
Since it is unsecured, lenders evaluate creditworthiness based on credit scores, income, and financial history; interest is charged only on the amount borrowed; and, despite the convenience and flexibility they provide, unsecured lines of credit often have higher interest rates than secured options because of the increased risk for lenders. An unsecured line of credit is a flexible borrowing option that does not require collateral and allows individuals or businesses to access funds up to a set limit, drawing and repaying as needed. https://www.fresnonewspost.com..../how-to-qualify-for-
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