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Question by Running Man: Is anyone familiar with a reputable company that offers lines of credit?
I have a growing real estate business in WI. I need to find alternative resources for reserve and working capital. I have been sent offers for lines of credit by companies I have never heard of. Does any know where I can go and research?

Best answer:

Answer by koki_dola
i think having money on credit is not the best thing .
u may have a partner
or to invest ur relatives or friends money in ur business with a rate of the gains ( may be in loss to )
i think that’s the best .

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by Laughing Squid

Question by pita_wagner: How do you feel about personal lines of credit? Good or Bad?
I need to pay off a medical bill and my credit card and then have money to get back on track. Are personal lines of credit good for that? I’m only looking to get between 2 and 3 grand. I do not know anything about this so any advice would be much appreciated! Thanks.

Best answer:

Answer by Tony C
Good.. As long as you are discipline. The rates would be mush lower tat a loan and with the LOC you can always use it later. A loan you pay a cretain amount per month until it’s paid off. The LOC you could just pay the minimum payment if you had to for one month

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Question by friendly_apostle: How many open lines of credit is to many before it affects your credit?
Just read somewhere that if you have too many lines of credit open it could lower your credit score- Im including all credit cards, loans, mortgages, anything like that as a line of credit. How many can you have before you cant get anymore & it starts to lower your score.

Best answer:

Answer by dougls_99
It’s not the number of accounts you have; it’s how long they’ve been open, how much of your available credit you use from month to month (you shouldn’t exceed 30% on any one revolving credit card,) and your payment history that affect your score.

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