It is not considered a temporary loan, since the facility allows the borrower to repay or re-contract the loan for a given period of time. In contrast, a fixed-term loan provides funds to a borrower, followed by a fixed payment plan. This makes a revolving line of credit similar to a cash advance, as funds are available in advance. Lines of credit generally have lower interest rates compared to credit cards. Revolving credit lines may or may not be financed in full. On the other hand, a non-revolving credit has more purchasing power, as you can be approved for higher amounts, depending on your income, credit history, and other factors. Because of the risk involved, banks often limit the amount you can borrow for revolving loans. For example, you may not be allowed to buy a home with a credit card without having a credit limit high enough to cover the fees…