Line Of Credit
A Line of Credit is a quick, easy, and confidential way to get a loan. Terms and Fees vary by state, and are only available in certain states. The application process only takes a few minutes and less then perfect credit will qualify. Apply once online and the application will be approved for a credit limit. You can request advances up to your credit limit at any time. While your loan is active you may request additional funds when needed, up to your available credit limit. Generally, after on time payments are made, additional credit limits can be applied for.
A Line of Credit works similar to a credit card. You will be approved for a credit limit, and you can get a cash advance for as much money as you need, up to your credit limit. This can be paid back, and you can get another cash advance at any time. Similar to a credit card, you can use as much as you need at any time, after you pay it down to a zero balance, you may get another cash advance whenever you need it. The typical interest is charged at 24% APR. In addition, there is an account protection fee that is billed on your billing cycle dates. However, if you pay off your balance before your billing cycle date, you will avoid being charged this fee. In addition, if you become unemployed due to a lay-off or reduction in force (‘lay-off’) by your employer, for the period of time you are unemployed, you will not be charged the Account Protection Fee or interest from the date that you provide written confirmation of your lay-off from the employer or governmental unemployment office.
Annual Credit Review: As an additional benefit for the payment of the Account Protection Fee, at Customer’s request, Lender will review available consumer reports or credit information and inform you as to matters affecting your credit based on the available information.
Paper Billing Statement Fee: We encourage the use of paperless electronic statement as a measure to help protect the environment. If you sign up to receive electronic statements with us, we will not charge the Paper Billing Statement Fee.
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