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One of the bad main advantages of a revolving credit line is the flexibility it offers. There are two main types of revolving credit lines: secured and unsecured.
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Those with a high credit score and a strong financial history may be eligible for a lower interest rate, while those with a lower credit score or a less-than-stellar financial history may be charged a higher rate. 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.