Payment terms for a line of credit are very similar to those that you see with a credit card or other revolving credit options.  You only pay the principal and interest on the part of the line that you’ve used.  Once you’ve paid back what you’ve drawn, that amount is available for use again.  Different from credit card payments, is that your payment schedule can be daily, weekly or monthly (though, it usually falls under weekly or monthly payments), depending on the product you select.