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2. Personal loan vs. personal line of credit: What’s the difference?

   www.aol.com/finance/personal-loan-vs-personal...

   Personal loans are best for one-time, set expenses. Personal lines of credit are best for projects or purchases that require flexibility. Both options offer lower average rates than credit cards ...

3. Line of credit - Wikipedia

   en.wikipedia.org/wiki/Line_of_credit

   A line of credit is a credit facility extended by a bank or other financial institution to a government, business or individual customer that enables the customer to draw on the facility when the customer needs funds. A financial institution makes available an amount of credit to a business or consumer during a specified period of time.

4. What is a personal loan? How it works — and what to know ...

   www.aol.com/finance/what-is-a-personal-loan...

   How personal loans work. A personal loan works by giving you a lump sum of money that you repay in monthly installments plus interest and fees. You can typically borrow between $2,000 and $50,000 ...

5. Credit - Wikipedia

   en.wikipedia.org/wiki/Credit

   Common forms of consumer credit include credit cards, store cards, motor vehicle finance, personal loans (installment loans), consumer lines of credit, payday loans, retail loans (retail installment loans) and mortgages. This is a broad definition of consumer credit and corresponds with the Bank of England's definition of "Lending to individuals".

6. 8 types of personal loans and their uses — plus 5 to avoid

   www.aol.com/finance/types-personal-loans-uses...

   Key takeaways. Personal loans come in many forms, including secured and unsecured loans, debt consolidation loans and personal lines of credit. Unsecured personal loans are common among lenders ...

7. Letter of credit - Wikipedia

   en.wikipedia.org/wiki/Letter_of_credit

   That is to say, a letter of credit is a payment method used to discharge the legal obligations for payment from the buyer to the seller, by having a bank pay the seller directly. Thus, the seller relies on the credit risk of the bank, rather than the buyer, to receive payment.