Home equity lines of credit (HELOCs) and credit cards can be helpful for emergency expenses or big-ticket purchases. However, it’s crucial to understand how each one works — along with their pros and cons — before deciding which to use. Read more: Is now a good time to get a HELOC? HELOC vs. credit card: How they work Both HELOCs and credit cards are lines of credit that allow you to access funds — up to a certain limit — on a rolling basis. Here’s how each one works. How HELOCs work HELOC lenders typ ...