General Inquiries
What is an online Line of Credit?
A Line of Credit online is an open-ended loan – this means you can withdraw money at any time so long as you have available credit and your account is in good standing.Online Line of Credit loans through MoneyKey can have a credit limit of up to $2,500, depending on your state of residence. As you pay down your principal, more of your credit limit will be available to you. You are only charged based on the amount of credit you have withdrawn, not on your approved credit limit.
What is a credit limit?
A credit limit is the maximum amount of money you’ve been approved for. If you have a $500 credit limit, $500 is the maximum amount or limit you can withdraw from your account at once. You can request cash advances, also called “draws”, as long as the amount does not exceed the available credit limit.
What is a Minimum Payment?
If you have an outstanding balance, a Minimum Payment is the amount of money you are required to pay on your Line of Credit to keep your account in good standing. A Minimum Payment is calculated for each billing cycle and needs to be paid by the due date set out in your periodic statement. Each Minimum Payment will consist of fees/interest/charges, as applicable, and a payment towards your principal (or amount borrowed). You are encouraged to make payments above your Minimum Payment to reduce your balance and increase your available credit.
When should you use a Line of Credit?
Line of Credit loans online are ideal for
unexpected expenses that may occur in your day-to-day life. These expenses could include home and car repairs or medical emergencies. If approved, you can withdraw any amount up to your available credit limit when you need funds**; however, it’s important to only take out the amount you need, as you will be charged based on the amount you withdraw.
Why choose an online line of credit over an online installment loan?
There are advantages to choosing online line of credit loans over an online installment loan. One of the advantages of an online line of credit over an online installment loan is that typically, if you’re approved, you can withdraw funds up to your available credit limit when you need it**. As you pay down your balance, more of your credit limit will be available for you to draw. On the other hand, with an installment loan, if approved, you will receive a fixed loan amount. As you pay down your balance, you will not be able to draw more funds if you need extra money.
Application Inquiries
Do you offer an online Line of Credit in my state?
The MoneyKey Line of Credit is currently offered in
Kansas and
Tennessee. Alternative loan products like
Installment Loans are also offered through MoneyKey in
Delaware,
Idaho,
Mississippi,
Missouri,
Texas,
Utah, and
Wisconsin.The CC Flow Line of Credit available through the MoneyKey website is currently offered to consumers residing in
Alabama,
Alaska,
Arizona,
Arkansas,
Florida,
Hawaii,
Indiana,
Kentucky,
Louisiana,
Michigan,
Minnesota,
Montana,
Oklahoma, and
Wyoming. The CC Flow Line of Credit is offered by CC Flow, a division of Capital Community Bank, a Utah Chartered bank, located in Provo, Utah, Member FDIC.
How much am I allowed to borrow?
The credit limit for a Line of Credit through MoneyKey ranges between $200 to $2,500
†. The amount you may be eligible for depends on several factors, such as your state of residence, monthly income and the maximum loan amount offered in your state of residence. To view the loan amount available in your state, see our
Rates & Terms Page.
Why choose MoneyKey for an online Line of Credit?
MoneyKey is a trusted lender and loan servicer committed to exceptional customer service. Customers are a priority and their highly trained Customer Care team can answer any loan-related questions you may have. Customer Care may be reached by phone, email or online chat.Here are some other benefits of choosing an online Line of Credit through MoneyKey:
- Quick application process to get you the money you need.
- Your information is protected in accordance with industry standards.
- Rates are transparent with no hidden charges.
- Committed to responsible lending.
What are the required payments on my online Line of Credit?
Since a Line of Credit is an open-ended loan, if you have an outstanding balance, you will be required to make regular Minimum Payments. These Minimum Payments include charges/fees/interest, depending on your state of residence, and a required principal contribution, depending on your pay frequency.
Can I make additional payments?
Yes. So long as your account is in good standing, you can make additional payments towards your principal. You can also pay the full outstanding balance at any time by contacting MoneyKey by phone or email.
Account Inquiries
How do I check my available credit?
You can
log into your account to check your available credit.
How do I check the outstanding balance?
You can
log into your account to review your outstanding balance or contact Customer Care at
1-866-255-1668.
How do I view my periodic statement?
You can
log into your account to view your periodic statements.