Interest on Line of Credit

The interest rate on Line of Credit is variable, meaning that it may go up or down over time. You only have to pay back the interest on the money you borrow from the day you withdraw the money until the balance is pay back in full.

The interest rate is based on your credit score, the higher your credit score, the lower the interest rate on your line of credit will be as, the credit score shows how risky it is to lend you money.