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Created page with "=Emergency LOC= * Interest rates for LOCs are almost always variable and vary widely from one lender to another. * LOCs do not provide the same regulatory protection as credit cards. Penalties for late payments and going over the LOC limit can be severe. * An open LOC can invite overspending, leading to an inability to make payments." |
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Revision as of 20:49, 27 September 2025
Emergency LOC
- Interest rates for LOCs are almost always variable and vary widely from one lender to another.
- LOCs do not provide the same regulatory protection as credit cards. Penalties for late payments and going over the LOC limit can be severe.
- An open LOC can invite overspending, leading to an inability to make payments.