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Individual credit lines have showed up as an element of bank-offered overdraft protection plans

Individual credit lines have showed up as an element of bank-offered overdraft protection plans

Whenever Credit Line Is Beneficial

More often than not, credit lines aren’t designed to be employed to fund one-time acquisitions such as homes or cars—which is exactly what mortgages and automobile financing are for, respectively—though personal lines of credit can help obtain products which is why a bank may not ordinarily underwrite that loan. Most frequently, individual credit lines are designed for exactly the same basic function as company credit lines: to smooth the vagaries out of adjustable monthly earnings and costs or even to fund tasks where it might be hard to ascertain the actual funds needed in advance.