Five Common Uses for a Personal Line of Credit

man doing home repair

You can use a personal line of credit for many different purposes. Whether you have an unexpected emergency expense, or just need cash in a pinch, a line of credit can come in handy. Here’s a list of five common uses for a personal line of credit:

Car Repairs

One of the most common uses for a personal line of credit is car repairs. This might be anything from a flat tire to blowing a transmission. It is very important to have cash quickly for car repairs since we often use our cars to transport us to our place of work. Car troubles have a ripple effect that can cause us to not have access to many other needs. You can find a list of common car problems by state on our blog.

Medical Bills

Another common expense people use a line of credit for is medical bills. Medical issues can often be a burden not only physically but also financially. When you need cash quickly to pay an unexpected medical bill, you might consider getting a personal line of credit. This allows you to get the cash you need and pay it back over time.

Home Repairs

Home repairs are another common use for a personal line of credit. Home repairs are something that must be dealt with as soon as possible. Basement flooded? Roof leaking? It is important to make sure you have a plan in place if any of these things happen to you. With a line of credit, you are able to get a little extra cash in your pocket when home repairs and expenses come your way.

Funeral

A death in the family is something that can cause a ton of stress on those surrounding the individual. When you are already going through a tough time, it can be hard to even focus on the financial burden of the funeral. With a personal line of credit, you can get cash quickly to pay for the funeral and worry about the finances later.

Job Loss

Unexpected job loss is something that many Americans deal with during their life. This can be a difficult time to navigate financially. When people depend on their paycheck, and they don’t know when their next paycheck will come, it can be extremely disheartening. A line of credit can help you get from point A to point B. With an Advance Financial line of credit, you are able to pay back the loan on your own timeline such as when you receive your next paycheck.

Hot to get a Line of Credit

To get approved with Advance Financial, click on “Get Cash Now” at the top of the page. Depending on your state, you will be offered an online line of credit or an online installment loan to get the cash you need. Fill out our quick and easy application form, and our team will be here to answer all your questions and offer a world-class customer experience throughout the process.