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Get a competitive rate and only pay interest on the portion of your credit line that you choose to use.

A personal line of credit is waiting to make your life easier. Use it to take care of all your ongoing projects and expenses, or keep the funds aside for emergency purposes.

Details About Our Personal Line of Credit

  • Competitive credit union rates
  • Credit limits up to $10,000
  • Use your funds to cover all your financial needs including:
    • Home improvements projects
    • Prospective business plans
    • Seasonal needs
    • Debt consolidation
    • Family vacations
    • Medical expenses
    • Car repairs
  • Flexible repayment terms, customized according to your unique needs
  • Revolving credit means more funds become available as you pay your balance down
  • Only pay interest on the portion of funds you're using
  • Easy application process
  • Local decision-making and processing in the Greater Sacramento area
  • Helpful, customized service throughout the entire process

You can apply for a personal line of credit if you live, work, worship, or attend school in Sacramento, Placer, El Dorado, Yolo, and San Joaquin Counties and become a member of Heritage Community Credit Union.

FAQ About Personal Lines of Credit in Sacramento

How is a personal line of credit different from a personal loan?

Answer: A personal line of credit is a revolving source of credit, like a credit card.

  • You can use as much or as little of the funds as you want at any given time.
  • You pay down your balance on a schedule that suits you and then you can use the funds again.
  • If you don't carry a balance, you don't pay any interest.

In contrast, a personal loan is an installment loan that gives you a lump sum payment.

  • You are given all the funds at once.
  • You make equal monthly payments until the loan is paid off in full.
  • You get a fixed rate based on your loan term and financial situation.

How is a personal line of credit different from a home equity line of credit?

Answer: A personal line of credit and HELOC work in the same way. The difference is that a HELOC is secured by your home so if you don't repay the funds, you might get a lien on your property.

A personal line of credit isn't secured so you won't lose any assets if you don't make your payments. But keep in mind:

  • Regular, timely payments are a key part of establishing and maintaining a good credit score.
  • If you miss payments, your credit will drop and it will take some time to repair it.
  • Good credit opens doors for home financing and other significant loans.

What can I use my personal line of credit for?

Answer: You can use your credit line for just about anything. Common uses for the funds include:

  • Home improvements projects and remodeling
  • Debt consolidation of high-interest credit cards and loans
  • Family vacations and weddings
  • Medical, vision, and dental expenses
  • Car repairs and appliance replacement
  • Business development

How is interest calculated on a personal line of credit?

Answer: Just like a credit card, interest is calculated on your balance at the end of your monthly cycle.

  • You pay interest on the funds you use, not on your entire credit limit.
  • If you don't use any funds, you won't pay any interest.
  • Your rate is based on your credit score and financial situation.

Can I use a personal line of credit to build my credit score?

Answer: Yes, a personal line of credit gives you the opportunity to show you can borrow and repay funds in a timely manner.

  • As you continue to make your payments on time each month, your credit score will improve.
  • For best results, you should aim to use less than 30% of your available credit across all your accounts, including your personal line of credit and any credit cards.
  • This will boost your debt-to-credit (DTI) ratio, also known as your credit utilization rate.


More Convenient Loan Options in Greater Sacramento

Still considering your financing options? Here are two more ways Heritage Community Credit Union can save you money through lower rates.

Personal Loans

Borrow up to $20,000 with low rates and no payments for 90 days. Choose a term of up to 72 months to fit your budget and goals. Get a lump sum payment and use your funds for just about anything!

Learn More

Payday Advance Loans

Borrow up to $1000 for 30 days when you take advantage of HCCU's Payday Advance Savings Solution (P.A.S.S.). All you need to qualify is an automatic deposit into your Checking or Savings Account. Avoid predatory lenders!

Learn More