Line of Credit in South Carolina
Still need funds? You may qualify for a CreditFresh Line of Credit* with a credit limit of up to $3,500 by clicking ‘Continue’ below.
*The CreditFresh Line of Credit is offered by CBW Bank, Member FDIC. MoneyKey does not assume responsibility or liability for any actions taken by you in relation to any products and/or services offered through CreditFresh.
Getting access to cash whenever you need it is easy with a MoneyKey South Carolina Line of Credit. Unlike a traditional payday or installment loan, this revolving loan stays open and available even after you have paid it down to a zero balance. It’s like having money on standby in the case of an emergency.
We make applying for an online Line of Credit in South Carolina 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 are more than happy to answer any credit-related questions you may have.
How It Works
1. Submit Your Application
2. Get Approved
3. Get Money The Next Business Day*
Understanding the Line of Credit
Unlike a traditional installment loan, once you are approved for a MoneyKey South Carolina Line of Credit, you may access funds up to your credit limit without re-applying.
Line of Credit Amount
The credit limit refers to the amount of cash that you can access. For this Line of Credit, credit limit amounts will range between $625 and $1,000. After we review your application, we’ll let you know if you’re approved and how much you qualify for.
Line of Credit Cost
For your South Carolina Line of Credit, you will be charged interest on the Outstanding Principal Balance 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.
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, with a required minimum draw of $610. 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 than your Minimum Payment to pay down your Outstanding Principal Balance.
Your Minimum Payment
Your Minimum Payment for each Billing Cycle will consist of 2 components:
- Interest: charged at a daily rate of 1.09315% on your Outstanding Principal Balance for each day of your Billing Cycle; and
- A Principal Contribution: 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.
Outstanding Principal Balance
Your Minimum Payment includes a mandatory contribution towards your Outstanding Principal Balance – this is your Principal Contribution. It is calculated for each Billing Cycle based on your pay frequency.
If you receive your income weekly, bi-weekly or semi-monthly, your Principal Contribution as shown on your Periodic Statement will be 2% of your Outstanding Principal Balance as of the end of each Billing Cycle.
South Carolina Disclosures
- Consumer Rights and Responsibilities Regarding Loans (Opens in PDF)
- Maximum Rate Schedule (Opens in PDF)
MoneyKey – SC, Inc. is a Supervised Lender licensed by the Department of Consumer Affairs and governed by all applicable laws.
Line of Credit in South Carolina: Frequently Asked Questions
How do I qualify for a Line of Credit?
To qualify for a MoneyKey Line of Credit in South Carolina, you must:
- Be at least 18 years old
- Be a US citizen or a permanent resident
- Be a resident of South Carolina
- 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.
Is this a payday loan?
This is not a payday loan. In fact, we don’t offer payday loans in South Carolina. A payday loan is a short-term loan that you pay back in full on your next payday. This is a South Carolina 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-end loan where you are charged interest only on the amount you use. Since a line of credit is an open-end loan, making your minimum payments will keep your account in good standing. MoneyKey recommends that you pay more than your Minimum Payments to pay off your Line of Credit sooner.
Can I get same day funding?
If you’re approved, you’ll typically get your money the next business day* after we receive a draw request from you.
How do I access my account?
You can always log in to access your online account to see your up-to-date account information.
Can I pay more than the minimum payments?
Yes you can. In fact, 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 any applicable fees and interest. If you’d like to make additional payments, please contact us 1-866-255-1668 at least 24 hours before your due date.
I don’t live in South Carolina, can I still apply for a South Carolina Line of Credit?
Unfortunately, you have to live in South Carolina to get a South Carolina Line of Credit. Whether you live in the French Quarter of Charleston, the suburbs of Mount Pleasant, or on the coast in Myrtle Beach, applying for a Line of Credit in South Carolina is easy and secure.