What does line of credit mean

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Credit Line Limits

With some companies, you can use a credit line only for purchases. However, unlike with a debit or check card that often has a daily spending limit, credit card companies can, but usually do not, limit how much you can spend each day as long as you do not exceed your established credit line. Many credit cards also include a cash advance feature that allows you to use part of your credit line as a short-term loan. A cash advance feature generally has a preset daily withdrawal limit.



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Source: ehow.com

Category: Credit

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