Personal Line of Credit

This provides access to unsecured funds that can be borrowed, repaid, and borrowed again. Opening a personal line of credit requires a credit history of no defaults, a credit score of 670 or higher, and reliable income. Having savings helps, as does collateral in the form of stocks or CDs, though collateral is not required for a personal LOC. In Yunnan Hekou Rural Commercial Bank, Personal LOCs are used for emergencies, weddings and other events, overdraft protection, travel and entertainment, and to help smooth out bumps for those with irregular income.