Online loans and Online lenders have become very popular because of the ease and speed of what you can get your money but they are usually quite expensive and you can’t take out multiple loans from one creditor if you need more money. And because there is a need for these options lenders have created a new way how to get your money and it is called a “credit line” or “line of credit”. This offer is a mix of both the credit card and an online loan because you can borrow as many times as you like as long as you don’t exceed you borrowing limit. And you can do that online without the need to go to your bank and fill out all those messy papers. Because people like online loans better than bank loans but credit cards are also appealing then this offer is a great way how to get the best of both worlds!


It does not matter if you need cash or to make some online payments because as long you get your money in your bank account you can take it out as cash or use your debit card or other online money services to pay online payment. But with credit cards or debit card overdraft functions if you want to take that money as cash you will have to pay extra and that obviously is not a great deal.

A line of credit usually has much lower interest rates than regular online loans because it acts more like a consumer credit option not a short term debt. You can also get larger sums that can be up to 5000 GEL and that means you can do a wide range of things from home repairs to car repairs or even a surprise vacation that you have wanted for years. And the best part about these credit lines is that you have to pay interest only on the money that you borrow and the rest is just like a security option or insurance that you can use any time you want. For example if you get a line of credit with the maximum amount of 1500 Lari but only use 200 Lari then you will have to pay interest only about those 200 GEL not the whole sum. And if for some reason you will need to borrow more then you can make as much withdrawals from your lender as you want and only pay when you have requested that money.

How to get a credit line?

To get a line of credit service you have to first choose the right non-bank lender that has the lowest interest rates and that has a credit limit that you think is sufficient for your needs. After you have chosen the right lender by comparing them then you will have to register and supply all your data like name, surname, date of birth, phone number, place of residence and an email address. After this registration is complete you will have to make a small payment into the creditors bank account so they can know your identity and then you can proceed and take out as much money as you need. During the repayment schedule that is usually longer than just a few days you will be able to request additional funds without any hidden costs. And you will pay only for the amount that you borrowed and that is one of the best deals that I have seen!

Online loans vs credit line

When comparing online loans versus this credit-line then the obvious differences are that with a short term loan you have to pay interest for all the money you borrowed. And also credit line interest rates are usually much more lower than for these short term online loans. You can also get more money using a line of credit and you also get longer repayment terms. That is why I would advise you to look closely at this new offer and think hard if you really need those online loans and if they can’t be substituted with this credit line service.

Credit line alternatives

Of course there are also some alternatives like a regular bank credit card or a debit card with an overdraft option but usually people do not want to get additional loans apart from mortgages from their bank. If we look at non-bank lenders then consumer credit service is similar to the line of credit but when you take out your loans you will have to pay interest on all that money and you can’t get more funds if you need them. And of course the short term online loan is also another option but they are much more expensive and do not provide the same flexibility!