A personal line of credit can be a big help when you need cash immediately. Think of it as a bridge to accomplishing certain goals, paying unexpected expenses, or keeping personal finances in balance. By definition, a personal line of credit (POC) is an unsecured revolving account with a spending limit that you can borrow money from as you need it. A POC comes with a variable (rather than fixed) interest rate and is designed to be available for a set period. When you choose the amount of your POC, the lender won’t give you a check for the full value. Instead, you can withdraw smaller amounts as needed.
The prevalence of online banking and other financial transactions means the need for smart cyber security has never been more important. According to the Federal Trade Commission
, more than 1.3 million Americans were victims of identity theft in 2020, and American consumers collectively lost more than $3.3 billion to fraud. So, what steps can you take to safeguard your information against scammers and identity thieves? Here is our Sound Advice for better cyber security and financial protection.
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