What is A Revolving Line of Credit

A revolving line of credit is basically an agreement between an individual or an entity and a bank or other financial institutions to borrow short-term money for a maximum fixed amount that is renewed when the balance is paid off or paid down. The bank will initiate a commitment fee the borrower must pay when opening the credit line.   When a borrower draws on a line of credit, interest expenses are charged. If charges are carried...

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How Many Credit Cards Should I Have?
Jun19

How Many Credit Cards Should I Have?

In a world of instant gratification and reward, credit card companies play in a field ripe with opportunity. It’s no surprise the average consumer has between three and four credit cards each, when around every corner an offer presents itself to open a line of credit. Credit card companies go all out in enticing the consumer with cash back incentives, deep discounts, and valuable rewards points. For those individuals with great...

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