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These might seem like a good idea because they come to you, but they can actually be risky. This is especially convenient for those who have busy schedules or live in rural areas where access to traditional lending institutions may be limited. A revolving credit line, also known as a line of credit or a credit limit, is a type of loan that allows the credit borrower to access a predetermined amount of money as needed.
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These loans often have much higher interest rates and fees than online loans or traditional loans, which can make them difficult to repay. Another benefit of online loans is that they often have more flexible eligibility requirements than traditional loans.