Line of Credit in South Carolina
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
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.