Have you ever had to deal with an emergency expense? How well did you handle it? Were you able to calmly reach into your savings and pay for it out of pocket? Or did you scramble to come up with the funds you needed to pay it off?
As much as we’d all like to fall into the former category, the truth is, a large portion of Americans may not have the means to easily deal with even a small, unexpected expense. So, if you count yourself amongst this group, what is your best course of action if you don’t have an emergency fund at the ready?
In these situations, online personal loans may be a viable short-term solution! With a CC Flow Line of Credit in Minnesota, you may be able to qualify for a personal line of credit with a credit limit between $500 to $2,500.
The CC Flow Line of Credit is provided by CC Flow, a division of Capital Community Bank (CCBank), a Utah Chartered bank, located in Provo, Utah, Member FDIC. CC Flow maintains control over loan origination, underwriting approvals, and regulatory and compliance oversight management. The CC Flow Line of Credit is available through MoneyKey, an authorized servicer.
So, why would you submit a request for this Minnesota Line of Credit? Well, for starters, it simplifies the application process, making it fast and easy to work your way through. With this straightforward process, the terms are clearly laid out in your credit agreement. If approved, you may be able to get your funds deposited from CC Flow into your bank account on the same business day that you request a draw*!
When you come up against an unexpected expense, you might think that your first step is to find a loan to apply for to help you out if you don’t already have the savings to deal with it. But before you do that, it’s important to stop and think about the nature of the expense you’re trying to deal with. Is it really an emergency that needs to be taken care of immediately, or is it something that can wait?
For example, if your car breaks down and it’s your only way of getting to work, you may have no choice but to miss work shifts if you don’t deal with it immediately. On the other hand, if you have other means of getting to work, it might be a good idea to hold off on the loan application and save up for the cost of the repair instead. In the end, it’s up to you to figure out whether or not you consider your situation to be an emergency.
With that in mind, there are certain scenarios that may be commonly seen as emergencies by most people. This can include things like:
In any case, a line of credit may be able to help you deal with your emergency expense! Here are some of the key details of a CC Flow Line of Credit.
If approved, your credit limit will range between $500 and $2,500, depending on certain criteria. Depending on eligibility and payment history over time, your credit limit may increase up to $3,500†.
If you’re in need of funds, you can withdraw however much money you need from your available credit, as long as your account remains in good standing. This could be all the funds you have available to you in that moment, or you could draw funds in smaller amounts.
If you have an outstanding balance on your account, you will need to make a Minimum Payment for each Billing Cycle.
Your Minimum Payment will be made up of two components:
You can always make additional payments on your Line of Credit. Log into your secure account to make a payment online. Contact a friendly Customer Care agent at 1-866-255-1668 if you have any questions.
If you have an outstanding balance, you will be charged a Billing Cycle Charge each billing cycle based on the Average Daily Principal Balance that appears on your periodic statement. A portion of each Minimum Payment will always contribute to paying off your principal balance.
For further details, visit the CC Flow Cost of Credit page.
The CC Flow Line of Credit is provided by CC Flow, a division of Capital Community Bank, a Utah Chartered bank, located in Provo, Utah, Member FDIC. Requests for the CC Flow Line of Credit can be submitted through the MoneyKey website.
In order to request a CC Flow Line of Credit in Minnesota, you must:
Please note that currently, no credit products offered through MoneyKey have rates that would meet the requirements applicable to lend to covered members of the US Armed Forces and their dependents.
No, you won’t. This will often be the case with online loans in general. With a CC Flow Line of Credit in Minnesota, you can submit a request online whenever you’d like, as long as you’re connected to the Internet.
If you’d like to submit a request, all you need to do is click here to start the application process. It’s easy to submit a request for this online Line of Credit in Minnesota and it only takes a few minutes to complete◆.
If you’d like more information on this process, you can call us at 1-866-255-1668 and someone from the Customer Care team will be happy to help you.
Yes you can, if you can afford to. By making more than your minimum payment, you can decrease the charges you’ll need to pay on what you’ve drawn from your line of credit. It can also help you pay down your balance and increase your available credit. If you’d like to make additional payments on your CC Flow Line of Credit, log into your secure online account any time to make a payment or contact 1-866-255-1668.
Submitting a request for a CC Flow Line of Credit in Minnesota should only take you a few minutes. The application process is fast and simple. If you’re approved, you may be able to request a draw and receive your funds from CC Flow as soon as the same business day*. You can take a look at the general FAQs section to learn more about the specific details regarding funding times.
If you’re looking for a personal line of credit to help you deal with an unexpected expense, a CC Flow Line of Credit may be able to help! You can submit a request from anywhere you can access the Internet. As you can request this online Line of Credit 24/7, you won’t need to worry about travel time or business hours!
In general, if the payments you make on your loan are reported to a credit bureau, and you’ve been able to make them all in a timely manner over a relatively long period, your credit score may be affected. You should always do your best to make your payments in a timely manner as missing payments or making late payments on your line of credit or personal loan may have a negative impact on your credit score.
No, lines of credit are not the same as payday loans, which are short-term loans that you’ll need to repay by your next pay date.
How are they different? Well, one important distinction between the two is that if you’re approved for a line of credit, you will not be required to pay back what you’ve borrowed on your next payday. Instead, you’ll gain access to a credit limit which you can draw funds from as long as you have available credit. To maintain an account in good standing, you’ll have to keep up with your minimum payments during each payment cycle. Having said that, you should try to make more than your minimum payment whenever you can afford to.
A line of credit falls under the umbrella of revolving credit. With a CC Flow Line of Credit in Minnesota, you will be charged billing cycle charges based on the money that you’ve drawn, not on the total amount of your approved credit limit. If you have an outstanding balance, you’ll be required to make Minimum Payments each Billing Cycle to keep your Line of Credit account in good standing. You can request draws from your available credit so long as your account is in good standing.
With an installment or payday loan, there’ll be no credit limit to draw from, with your money coming in a lump sum instead. If you’re approved for a payday loan online, you’ll need to pay back what you owe by your next pay date. With an installment loan, you’ll pay back your loan over the course of several pre-determined, scheduled payments.