how does an loc affect my credit score 
lenders conduct a credit check when you apply for an loc this results in a hard inquiry on your credit report which lowers your credit score in the short term your credit score will also drop if you tap into more than 30 of the borrowing limit 2the bottom lineconsumers and businesses rely on credit to make large purchases keep their operations going or make investments in their growth a line of credit is one type of product offered to consumers to help them achieve these goals to qualify for a line of credit a borrower must first qualify and be approved by a lender credit lines can be used by borrowers more than once up to their credit limit as long as they make the minimum payment 