Understanding Interest Rates on Unsecured Lines of Credit
Because it is unsecured, interest is only applied to the amount borrowed, and because lenders are taking on more risk, unsecured credit lines frequently have higher interest rates than secured ones. Lenders assess creditworthiness using criteria such as income, credit scores, and financial history. A flexible borrowing option that doesn't require security, an unsecured line of credit enables people or organizations to access money up to a certain amount and make withdrawals and repayments as needed. https://www.fresnonewspost.com..../how-to-qualify-for-
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