 TITLE: The Difference Between a Personal Loan and a Line of Credit CONTENT: Making the Choice\n-----------------\nThe bottom line is this: If you can figure out which financial product fits your situation best, there's a chance you could save money and simplify your life.\nIf you take out a personal loan that winds up being too small to cover costs on a big project, you could end up having to borrow again. This means the hassle of another application and the potential for your credit to be impacted negatively by an extra account and inquiry. On the other hand, if you take out a line of credit when you don't really need one, you might be charged a higher interest rate than you could have qualified for with a personal loan.\nDo your homework, including a credit check, before you decide which product to apply for and which lender to use. If you take your time and don't rush into a decision, you can be confident that you're choosing the best deal for your situation. END