Understanding Lines of Credit: Financial Flexibility at Your Fingertips A line of credit, often abbreviated as LOC, is a versatile financial tool that empowers you with on-demand access to funds. This revolving loan arrangement allows you to borrow money up to a predetermined limit whenever you need it, and you can repay and borrow again as long as the line remains open. How Does It Work? Imagine it as your financial safety net. Here's how it functions: - Credit Limit: You're assigned a maximum