A line of credit can be a good way to get some extra cash quickly. If you have a good credit history then you can often qualify easily for a line of credit that usually comes with much lower interest rates than most credit cards.

There are various kinds of lines of credit including home equity line of credit and business line of credit. The advantage to a line of credit is that you do not have to use it if you do not want to and it is often a better alternative to getting a high interest credit card. Also unlike a conventional loan you do not get one lump sum that you have to repay back so you can choose to only use the amount you need and make payments only on that particular amount instead of a larger loan amount.