 TITLE: The Difference Between a Personal Loan and a Line of Credit CONTENT: When Should I Choose a Personal Line of Credit?\n-----------------------------------------------\nLines of credit represent a flexible borrowing option that can be helpful if you don't know in advance how much money you'll need to finance a particular project. Examples of times you might want to use a personal line of credit include:\n*   Home remodeling projects\n*   Ongoing projects with unknown costs\nPeople with variable incomes may benefit from lines of credit as well, to help them cover expenses during gaps in income.\nSome of the benefits of using a personal line of credit when you need to borrow money include:\n*   Flexible borrowing options for expenses spread out over time\n*   Quick access to funds on as-needed basis\nKeep in mind, if you don't have good personal credit, you may find that qualifying for a line of credit is more difficult. Also, while lines of credit can often be cheaper than credit cards, you could possibly qualify for a personal loan with a lower interest rate. END