What is the difference between a line of credit and a short-term loan?

Answers:2   |   LastUpdateAt:2017-04-25 19:13:57  

Question
mrs johnson
Asked at 2012-08-06 04:13:47
What is the difference between a credit line and a short term loan ?
Answer1PryiaAnswered at 2012-08-06 20:20:04
A line of credit is like a credit card - you can withdraw money at any time , to its credit limit, monthly payments and the account can remain open forever.

A short term loan is where it gets a lot of money and pay it back within a certain amount of time, and then the account is closed .
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