Understanding Interest Rates on Unsecured Lines of Credit
Because it is unsecured, lenders evaluate creditworthiness based on factors like income, credit scores, and financial history; interest is only charged on the amount borrowed; and as a result of the increased risk for lenders, unsecured lines of credit often have higher interest rates than secured ones. 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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