What is a Line of Credit?

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Information What is a Line of Credit?

Title	:	What is a Line of Credit?
Lasting	:	4.00
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Views	:	61 rb

LOC are better than loans because with a loan you get a hard inquiry each time you borrow For people who like to use leverage, a LOC is a better way to go!
Comment from : @scnager1

Has anyone purchased a vehicle with a PLOC?
Comment from : @robertjr9844

Thanks, Christy, for your clear and concise explanation about the LOC It did help us a not God bless you!
Comment from : @antoinetteabouantoun1530

Us bank #JazzyIsheA #shopJazzyIsheA
Comment from : @jasmineholmes5573

If you get a $10,000 loc , and you drop it on your car loan , does it effect the payment amount ? Does it go down ? I’ve watched many of your videos but haven’t heard you explain that What it does to your payment schedule How it changes and what it would look like Love your videos !
Comment from : @douglasmcfatridge7366

I’m here at the basis
Comment from : @delmyvillanueva7669

thank you for this meaningful lesson I am newbie on the market and luckily found this at the top search results
Comment from : @sternhardern9906

Is LOC something that is owed to us or why would bank institutions even offer us LOC and HELOC?
Comment from : @wmpetroff2307

Good information
Comment from : @MelMelx365

Can I use personal line of credit to pay off credit card bills? Thank you
Comment from : @tenzinyangchen9642

Thank You for breaking this down for me🙂
Comment from : @Dastormcoming

Can you believe that I have been watching your channel, since you started, and we have never, been able to Signup & get started on working your amazing programs magic, because of my health, & my wife's dought! I believe it works, so many have proven you right!
Comment from : @WILLIAMALLENAYL-SUCCESS

I’m from the UK, is this just an American thing?
Comment from : @Reciprocation_of_goodwill

My boss explained this to me and I looked at him like he had a 2nd head coming out his neck, he actually uses this technique for the business and his credit is in the 800s
Comment from : @austinknight6028

Thanks for info Van
Comment from : @SeymourHenry-pw3qr

LIKE, COMMENT, SHARE, AND SUBSCRIBE!!! 💯💯💯💯💯💯💯💯💯
Comment from : @MrAnderson610

Can you please show it instead of talking about it Thanksg
Comment from : @THECREATORTHEDESTROYER

Also thanks for just a simple explanation video
Comment from : @mithrilsilver575

Thanks I'm going to see about a ploc asap to buy a new car
Comment from : @mithrilsilver575

1:18 you said line of credit can be a credit card and 2:39 you said the interest of the line of credit is charged different than a credit cardim confused enlight me
Comment from : @freshflashZenith

How do I apply for a line of credit for a business to pay off credit card debt and start velocity banking ?
Comment from : @jhonnygarcia7396

Great video Very helpful and I appreciate the information But, I’ve noticed that my mind keeps trying to piece together what’s written behind you The first time I watched I couldn’t really retain what you were saying I understood it, but the whole time my thoughts were on the chalk board Are you doing that on purpose?
Comment from : @letsbefrank2174

Christy, I purchased the Mini Course, how can I download it, send me the web address to access again And do you have any help on rebuilding my own credit/fico scores?
Comment from : @jaimesanchez1295

Thank you
Comment from : @TheGrilledCheeseSandwich

Anyone has a good bank to apply for a ploc? And is this a personal loan
Comment from : @sylviaz4951

This video helped clear up a LOT for me I plan on buying my first home later this year and will be using velocity banking to pay it off in no time
Comment from : @khukri_wielderxxx1962

This made money so simple for me❤thank you
Comment from : @glendagray1046

All this sounds great BUT getting a LOC takes high creditbut most ppl in massive debt are gonna have horrible credit
Comment from : @NickJamesHarrier

Thanks for the info
Comment from : @Fiiercepro

Hello I currently have an interest only line of credit at 13500 dollars at 121 I recently got a preapproved line of credit through the mail from another bank for 20,00000 at 1119 percent I was thinking of paying the first line off with the new line of credit So I applied for this preapproval on line and they said we are now opening your new line of credit on the next business day My question is how do I know if its interest only or principal and interest payment ? Thanks
Comment from : @36obba

nice
Comment from : @milyhossain4983

This was really good, simple & straight forward, thank you I have 2 questions, if i get a line of credit & never use it does it take from my borrowing power?? Example, if before I got the line of credit I had a borrowing power of $75,000, I get a $25,000 line of credit but never use it until I see an invesrment opportunity, does that now reduce my borrowing power to $50,000?? Also would you suggest getting dental work (dentures or implants) with a line of credit?? It is somewhat of an investment, just an investment into yourself, which could also prove valuable with how others view you more positively thus potentially creating better opportunities
Comment from : @DJ_504la

hi does the line of credit brings the fico score down when you pull money line credit card or it is only the hard pull like the loan
Comment from : @stecder2470

I've been watching your videos and am really interested in in the velocity banking approach, sounds like a no brainer I just bought a truck and am about to start the payments on a 60 month loan, not to mention my mortgage so this would be perfect for me My only problem is that my bank does not offer a ploc at all and they are not offering a heloc right now "due to current market conditions" Would you recommend trying to get a loc from another bank and is it possible to get one without a savings or checking account at that bank?
Comment from : @timmy4579

what the best small loan to start a business
Comment from : @moonbasealpha-nd6zh

make of video about llc and loans
Comment from : @moonbasealpha-nd6zh

But what is better a Peloc or Heloc? thanks
Comment from : @doublex632

So can I use a credit cards as my line of credit?
Comment from : @utrinqueparatusman

So to buy a car is okay ?? brA car for 15000 € for example?brGreat video !!
Comment from : @andrefarinha419

Ok I can take out a ploc to buy my car or a house Preferably for big purchases
Comment from : @goddessk3740

Great video
Comment from : @laciavinquez

Let's say if I use money from my line of credit and pay it back the exact same day will I have to pay interest
Comment from : @ygbodybuilder3023

What if your PLOC is not set up with a card that you can use like your debit/credit card? How would you use that for velocity banking?
Comment from : @SamanthasYouTube

Got it! Thanks 🤗
Comment from : @andreamuse2002

A PLOC is just a personal unsecured line of credit loan, which requires more stringent approval, because if you fail to pay it back as agreed, you loose nothing but your credit rating The bank is taking a high risk It’s an unsecured credit card… sorta You get an account; not a card
Comment from : @chrisper7527

I wanted ask about zero interest for 15 month credit card I want to transfer my Lowe’s credit card balance into the zero interest card but it is more that the limit they gave on the zero interest one So I applied for another zero interest and it’s not enough either My question is can I split the balance of the credit card I owe on that I need to transfer into both of the zero balance ones?
Comment from : @franceslay

What is the best line of credit to get? A ploc, hloc, or eloc?
Comment from : @jeremyrebel8931

So glad your channel popped in my recommendations, subbed I have a lot to learn and appreciate you sharing your knowledge
Comment from : @ABasedTohan

Understanding personal finances and investing will most likely lead to greater financial independence By being knowledgeable about money and investing, individuals can make informed decisions about how to save, spend, and invest their money A trader made over $350k in this recession influenced market
Comment from : @graywilliams_77

Proof video…the Power of VELOCITY BANKING youtube/iwtr-o57-R0
Comment from : @azman67

Is it hard to get a PLOC if you have good credit (760) but a really high DTI ratio? Say 53? Velocity banking will only work for us if we do a PLOC or HELOC, but I really doubt we'd get approved
Comment from : @KariCox-i7t

Hi Christi, you just posted a video and it’s coming up as private instead of public Was this correct?! Cause I was ready to view the video and I can’t because it’s set up as private Thanks
Comment from : @chanillep3927

So for the sale of your home, you will have home equity line of credit paid off before you get any of your other residual equity?brbrCan the bank ever cancel the line of credit and force you to sell your home to pay it off?
Comment from : @TraumaChaplain

Just got a home equity loan line of credit I got a question
Comment from : @juansaldana84

Well, I was inspired from you and I did itI am nervous, not gonna liebut if it worksI'll be so happy!! I'll update you in a few months haha
Comment from : @veeeff2323

Great info! Thanks for sharing!
Comment from : @NeutronRob

I seen that Aven credit card that's secured with a HELOC, but would like to see more about it Miss VANNtaatic, any thoughts?
Comment from : @ItsaPlanetKiller

Would be extra special if Christy could give us her top choices in lenders of PLOCs She's so smart about this What would be the critical elements of a good PLOC?
Comment from : @JeffreyGLutz

Just tuning in, learning soooo much thank you for the information! ❤
Comment from : @klittles5128

Im having issues downloading the work sheet Can i please have a link that works?
Comment from : @LOVETOBEWITHYOU60

❤
Comment from : @jcorpus209

Vantastic 🤗
Comment from : @lewisteixeira1012

Thank you for the information Good luck
Comment from : @cparker8439

Good foundation Thank you ❤
Comment from : @mmlsweet

Excellent clarity! Thank You! keep it going andbr Give us some more! ❤
Comment from : @ericspivey8729

I am not sure if you had heard of this app before it's called "Tally" but they give a line of credit to pay off debt Apr is 79- 299 Haven't looked into it much thought to mention it
Comment from : @Anna-n5h7b