What is a line of credit?

GRAND RAPIDS, Mich. (WOTV) When it comes to personal finance, there’s a lot to know. The experts at Fifth Third Bank have the answers to all of your questions about a line of credit.

What is a line of credit?

  • Intended for a client who doesn’t want a large sum of money for many years
  • Money will be available over the years
  • Gives you flexibility to only pay on what you advanced when money is needed

How to pay back

  • Pay aggressively
  • Make payments over time
  • Make larger payments when you can

Who is eligible?

  • Homeowner is first candidate
  • Don’t have to be a homeowner if you get unsecured line of credit

Don’t have to be a customer of Fifth Third Bank to ask about a line of credit. Talk to a personal banker or financial services manager at any bank branch. Find a list of locations on their website by clicking here.

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