Line of Credit in Kansas

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Line of Credit in Kansas

Getting access to money when you need it is easy with a MoneyKey Kansas Line of Credit. A Line of Credit is a borrowing option that gives you access to any amount of funds up to your credit limit. It is a revolving loan that, unlike a traditional payday or installment loan, remains active even after you have paid it down to a zero balance. This means that when you pay off your balance, you don’t have to submit a new application. Instead, you can continue to withdraw money up to your available credit limit.

We make applying for an online Line of Credit in Kansas fast and secure. Our friendly and knowledgeable Customer Care agents are available 7 days a week to assist you throughout the application and repayment process. They can answer any credit-related questions you may have.


Understanding the Line of Credit

Unlike a traditional installment loan, you only need to apply once for a MoneyKey Kansas Line of Credit. If you are approved, you will have access to funds up to your credit limit, regardless of how many draws you make.

Line of Credit Amount

The amount of your Kansas Line of Credit will range between $200 and $1,000. After we review your application, we’ll let you know if you’re approved and how much you may qualify for.

Line of Credit Cost

You will be charged interest and fees when you use a Line of Credit in Kansas.

You will be charged interest on the Outstanding Principal Balance of your Line of Credit at a daily rate of 1.09315% . The corresponding annual percentage rate (APR) is 399%. This interest is only charged on the amount you use (the Outstanding Principal Balance), not your total credit limit.

There is also a 15% cash advance fee charged on the amount drawn, each time you draw funds from your Line of Credit.

Making a Draw

You can withdraw the total credit available to you all at once, or in smaller amounts over time as you need it. When you request a draw, we will typically deposit the funds in your account the next business day*.

Making a Payment

Before your due date, you will be issued a Periodic Statement outlining how much you owe. You are required to make your Minimum Payment by your due date, and you can also pay more to pay down your Outstanding Principal Balance.

Your Minimum Payment

Your Minimum Payment for each Billing Cycle will consist of 3 components:

    1. Interest: charged at a daily rate of 1.09315% on your Outstanding Principal Balance for each day of your Billing Cycle;
    2. A cash advance fee: 15% on all amounts drawn during the Billing Cycle; and
    3. A Required Principal Payment: based on your pay frequency, as outlined below.

The exact amount of your Minimum Payment and the corresponding due date will be outlined in your Periodic Statement.

Key Terms

Outstanding Principal Balance

This is the amount of money you’ve used or borrowed on your line of credit, not including any interest and/or fees you may owe.

Billing Cycle

The period of time between periodic statements. Your periodic statement is generated a day after the billing cycle ends.

Periodic Statement

Periodic statements contain a listing of all transactions, fees, and interest within a Billing Cycle. Your first statement will typically be generated on your first pay date after you make your first draw. Subsequent statements will be generated on each due date. You can access and download your periodic statements from your online MoneyKey account.

Required Principal Payment

Your Minimum Payment includes a mandatory contribution towards your Outstanding Principal Balance – this is your Required Principal Payment.

If you receive your income weekly, bi-weekly or semi-monthly, your Required Principal Payment as shown on your periodic statement will be 5% of your Outstanding Principal Balance as of the end of each billing cycle.

If you receive your income monthly, your Required Principal Payment as shown on your periodic statement will be 10% of your Outstanding Principal Balance as of the end of each billing cycle.

State License

MoneyKey – KS, Inc., is a Supervised Lender licensed by the State of Kansas, Office of the State Bank Commissioner, Consumer and Mortgage Lending Division. The Line of Credit will be governed by all applicable laws of the State of Kansas.


Line of Credit in Kansas: Frequently Asked Questions

To qualify for a Line of Credit in Kansas, you must:

  • Be at least 18 years old
  • Be a US citizen or a permanent resident
  • Be a resident of Kansas
  • Have an active bank account
  • Have a regular source of income
  • Have a valid contact number and an active email address

Please note that we currently do not offer credit products with rates that allow us to lend to covered members of the US armed forces and their dependents.

This is not a payday loan. At this time, we don’t offer Payday Loans in Kansas. A payday loan is a short-term loan that you pay back in full on your next payday. This is a Kansas Line of Credit, which is different because it doesn’t require you to make a lump-sum payment on your next payday. Instead, this is an open-ended loan on which you are only charged interest for the amount you use.
If you’re approved, you’ll typically get your money the next business day* after we receive a draw request from you.
You can always log into your online account at MoneyKey.com to see your up-to-date account information.
Absolutely. MoneyKey encourages you to make additional payments above your Minimum Payment in order to pay down your Outstanding Principal Balance, increase your available credit and decrease your interest charges. If you’d like to make additional payments, please contact us at 1-866-255-1668 at least 24 hours prior to your due date.
You have to live in Kansas to get a Kansas Line of Credit. Whether you live in Kansas City or Wichita, applying for a Line of Credit in Kansas is easy and secure.

If you live in another state, please check our rates page to see if Lines of Credit or other products such as Installment Loans and Payday Loans are available in the state that you currently live in.

Have more questions? Please refer to our general FAQ page or contact our Customer Care team at 1-866-255-1668.

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Not all applications are approved; duration of approval process may vary.

* The date and time the funds are made available to you by your bank is subject to your bank's policies. For customers who opened their Line of Credit on or after September 12, 2018: if you request a withdrawal before 9:00 PM ET Monday through Thursday, or before 7:00 PM ET Sunday, your funds will typically be deposited into your bank account the next business day, otherwise, your funds will be deposited into your bank account in two (2) business days. For customers who opened their Line of Credit before September 12, 2018: if you request a withdrawal from your Line of Credit before 7:30 PM ET Monday through Friday, your funds will typically be deposited into your bank account the next business day, otherwise, your funds will be deposited into your bank account in two (2) business days.

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