Need to make a major purchase or take an once-in-a-lifetime trip? Rather than racking up debt on high-interest credit cards or using the equity in your home, you can get the funds you need quickly with a personal credit line or loan.

Personal credit line or loan vs. home equity loan
While it’s true that you can benefit from tax advantages when you take out a home equity loan, here are some reasons you might prefer a personal credit line or loan.

• Immediate funding
  You can access funds potentially on the same day with a personal credit account.
• Quick decisions
  Receive an approval decision generally within two business hours.
• Lower minimum amounts
  You can borrow amounts as low as $500.
  

So, if you need a smaller amount, you need it quickly, or you don’t want to use the equity in your home (or you don’t own your home), a personal credit line or loan may be the best choice for you.

Reduce your debt
When you consolidate bills from credit cards or store charge cards into a personal credit line or loan, you may find it easier and more manageable to reduce your debt.

Rolling all of your bills into a single loan won't immediately reduce your debt, but it may reduce your monthly payments, and having just one bill will make tracking and payments easier. With what you save on interest payments, you can increase your savings or pay down more of the principal balance to see your debt shrink even faster.

You’re in control
Use the funds in your personal credit line or loan to buy a car, pay for medical expenses, take a trip, replace your washer and dryer, or simply enjoy the reassurance of having a reliable source of cash for emergencies. It's your choice!

You will have immediate access to the cash you need whenever and wherever you need it — so you're always prepared for whatever comes along.