So, what exactly is a line of credit?
A line of credit is money you have at the ready when you need it. You will be approved to draw up to a certain amount on the line of credit, and then you pay interest on what you borrow. If it turns out you don’t need to use the money, you are not charged interest. So you borrow the money by transferring it to your Elements checking account, pay it back, and then borrow it again if and when you need it.