There are different kinds of lines of credit available, including personal lines of credit, business lines of credit, and home equity lines of credit (HELOCs). The lines of credit we refer to in this article are personal lines of credit. Personal lines of credit can be secured (meaning you have offered something valuable like your home for collateral if you default on your line of credit) or unsecured (meaning there is no collateral attached to your loan). Lines of credit also have higher borrowing limits, lower interest rates, and more flexible payment options than credit cards.