Use a Personal Line of Credit to Cover Holiday Shopping


Avoid paying high interest rates by receiving a personal line of credit from Colonial. Below we’ve put together a few of the most common questions asked about personal lines of credit.It’s the most wonderful time of the year. The holiday season has arrived and it’s time to begin making your holiday shopping list – and checking it twice. Finding the perfect gift for your loved ones can be a little difficult – especially if you’ve found yourself a bit short on cash this year.

During the holidays, many people turn to payday loans and credit cards when they are short on funds. But what they may not know is these come with high interest rates and steep fees that can put you in a financial hole that may be difficult to dig yourself out of.

Avoid paying high interest rates by receiving a personal line of credit from Colonial. Below we’ve put together a few of the most common questions asked about personal lines of credit.

What is a Personal Line of Credit?

A personal line of credit is a type of loan that gives you a set amount of funds. This allows you to withdraw from those funds when you need them – only making payments on the money you use. A personal line of credit differs from a traditional loan that you must begin repaying the borrowed amount from the start.

When Can I Use it?

Using a personal line of credit doesn’t limit you to specific purchases. Use it for your holiday shopping needs to avoid credit cards, help with your child’s college tuition, or pay-off higher interest credit card debt. Whatever holiday needs you have, the money will be available when you need it.

Is it Easy to Apply?

Applying is a snap! Colonial offers a variety of personal loans and personal lines of credit to our customers at competitive rates. You can apply online in five simple steps. To find out more information about a personal line of credit, give us a call today at 817.390.2000, or visit GoColonial.com to browse all that Colonial has to offer.

 

Having a lot of bills and debt is discouraging, but it doesn’t have to consume your life. Learn how to Make a Plan to Reduce Debt.

 

Related Articles

Leave a Reply