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There are many times when you know you'll face a bill, but you're not sure when. Even if you can anticipate how much it will cost, it's not always easy to tell when it has to be paid.

Although you'd love to have a big emergency savings account for these situations, it may not be possible. Nearly 40% of Americans would have to go into debt to pay an unexpected $400 bill, while 12% wouldn't be able to pay for it at all.

In this scenario, what might work best is not a loan but an online line of credit. Balance Credit may be able to help, with a loan that offers the flexibility to withdraw the amount you need at the right time. See if you are eligible now.

What Are Online Line of Credit Loans?

Many loans give you a lump sum of money and immediately charge interest on it. When you aren't sure when you'll need the money, you often want something with a little more flexibility. A line of credit gives you the ability to withdraw money as long as the principal balance doesn't exceed the credit line limit.

Once you use the line of credit, you receive information about the payments you need to make and when they are due. If you need the money in several stages, you can get periodic cash advances up to the limit. This way, you aren't required to make payments until you withdraw the money.

How Do Online Credit Loans Work?

Applying for a line of credit is fairly simple. If you have only requested loans from your bank or local lender, you might be pleased to see how quickly it works. The application requests some relevant information, such as the amount of money you need and whether or not you want to receive any portion of the credit line right away.

If you're approved for the loan, you can spend the money in any way you prefer:

  • Pay the mechanic to fix your car
  • Be ready for an upcoming dental bill
  • Take care of a series of emergency expenses
  • Get current on outstanding bills

Knowing you have a plan in place can reduce a lot of stress at a difficult time. That's why in December 2019, Holly said Balance Credit is an "easy company to work with for emergencies."

Does Balance Credit Offer an Instant Line of Credit Online?

When Balance Credit mentions an instant line of credit online, it's easy to see that the process is fast. Most of our customers get a lending decision on their application immediately. If you agree to the terms of approval, you might get the money you need by the next business day.** In December 2019, J. Allen said Balance Credit is a "great company when you need quick cash."

How Can I Apply for a Line of Credit Online?

If you know you'll need money but are unsure when, Balance Credit might be the ideal solution. Apply now.

In some cases, the decision may take longer. Some customers applying for Balance Credit or third-party loans may be required to submit additional documentation to verify application information.

**Customers whose applications are received and approved by 6:00 PM Central Time on a business day will typically receive ACH deposits from the lender to their bank accounts the next business day.

Customer testimonials and ratings reflect the individual's own opinions and are not necessarily representative of all experiences. Testimonials from TrustPilot.