Home equity lines of credit (HELOCs) and credit cards provide flexible access to funds, but understanding their differences is crucial. HELOC lenders typically require 15-20% home equity. HELOCs offer a draw period of 10 years with interest-only payments, while the repayment period lasts 20 years. Credit cards determine limits based on creditworthiness. HELOC rates are lower, around 8%, compared to credit card rates, which average 22.25%. HELOC interest may be tax-deductible for home improvements. Consider the risks and benefits of each option to make an informed decision based on your financial needs and goals.

Read more at Yahoo Finance: HELOC vs. credit card: Which should you choose?