MoneyKey Line of Credit

MoneyKey Line of Credit Review

MoneyKey Line of Credit is offered through MoneKey, a direct lender founded in 2011 and based in Wilmington, DE. MoneyKey line of credit are available in 2 states across the USA.

What APRs does MoneyKey Line of Credit offer?

MoneyKey Line of Credit offers a fixed APR product that ranges from 280% APR up to 292% APR.

Does the MoneyKey Line of Credit charge an origination fee?

No, MoneyKey Line of Credit does not charge an origination fee.

An origination fee is what some lenders charge for processing, underwriting, and funding a line of credit. These fees can range from 0.5% to 5% of the line of credit amount. Whenever possible, go with lenders that don’t charge origination fees.

Does the MoneyKey Line of Credit charge a cash advance fee?

No, MoneyKey Line of Credit doesn't charge a cash advance fee. Some lenders charge a cash advance fee every time borrowers withdraw cash from their line of credit. Typically, fees range from 0.5% to 10% of the amount withdrawn.

Does the MoneyKey Line of Credit charge a statement balance fee?

Does MoneyKey Line of Credit charge a late fee?

How much can you borrow via MoneyKey Line of Credit?

Upon approval and based on your credit worthiness, your MoneyKey Line of Credit personal line of credit will be assigned a credit limit of at least $200 and as much as $2,500. .

What do you need to qualify for MoneyKey Line of Credit?

MoneyKey Line of Credit does not have or does not disclose a minimum annual income eligibility requirement. MoneyKey Line of Credit will consider borrowers regardless of their employment status if they can prove their ability to repay their obligations.

The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. APRs for the MoneyKey Line of Credit product fall outside of the MLA limits, and as a result, the product cannot be issued to these applicants. Active duty service members and their covered dependents are considered “covered borrowers" under the Military Lending Act.

U.S. citizens and permanent resident / green card holders are eligible to apply for the services offered by MoneyKey Line of Credit.

To qualify, applicants may need to provide the following documentation:

• Proof of income

What is the estimated funding time for a personal line of credit via MoneyKey Line of Credit?

Does MoneyKey Line of Credit report your account activity to credit bureaus?

Yes, MoneyKey Line of Credit reports your account activity to the following credit reporting agencies:

Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.

How to apply for MoneyKey Line of Credit

• Visit the MoneyKey Line of Credit website.
• Fill in the application form. You will typically need to provide general information such as your name, address, email address, Social Security Number, source of income and employment, and checking account information.
• Check the information is accurate and submit your application.