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LifeCU Mobile

Free - On the App Store

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LifeCU Mobile

Free - On the App Store

What is the difference between a signature loan and a line of credit?



Both of these loans are available without collateral. A signature loan is offered as a lump sum, whereas a line of credit is a source of funds that you can draw from whenever you choose. With a line of credit, the money that is repaid becomes available again. There are advantages to both, depending upon your needs and circumstances. A signature loans gives you more cash up front, whereas a line of credit is more flexible.