Regions Bank Preferred Line of Credit

Regions Bank Preferred Line of Credit Review

Regions Bank Preferred Line of Credit is offered through Regions Bank, a bank founded in 1873 and based in Huntsville, AL. Regions Bank line of credit are available in 15 states across the USA.

Regions Bank line of credit FAQ

What APRs does Regions Bank Preferred Line of Credit offer?

Regions Bank Preferred Line of Credit offers a variable APR product that ranges from 8.74% APR up to 18.74% APR. Rate is quoted with autopay discount*.

Does Regions Bank line of credit charge an origination fee?

No, they do 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 Regions Bank line of credit charge a cash advance fee?

Yes, they may charge a fee. starting at $10

Does the Regions Bank Preferred Line of Credit charge a statement balance fee?

No, this lender does not charge a statement balance fee.

Does Regions Bank Preferred Line of Credit charge a late fee?

Yes, they may charge borrowers a late payment fee of up to $29 , which is triggered if you're 10 days late.

How much can you borrow via Regions Bank line of credit?

Upon approval and based on your credit score and credit history, your personal line of credit will be assigned a credit limit of at least $3,000 and as much as $50,000. .

Regions Bank Preferred Line of Credit Fees

Cash Advance Fee	N/A
Origination Fee	No
Prepayment Fee?	No
Late Payment Fee	$29
Statement Balance Fee	No

What do you need to qualify for Regions Bank Preferred Line of Credit?

Applicants with a credit score of at least 600 and up to 850 may be eligible for Regions Bank Preferred Line of Credit.

Regions Bank Preferred Line of Credit does not have or does not disclose a minimum annual income eligibility requirement. Regions Bank Preferred Line of Credit only considers borrowers who are employed. Note that borrowers can add a cosigner to either meet eligibility requirements or qualify for lower interest rates.

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. Active duty service members and their covered dependents are eligible to apply for a loan via Regions Bank Preferred Line of Credit. Their rates fall within the limits of The Military Lending Act.

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

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

• Applicants must have an active and valid personal checking account
• Proof of income
• Driver's license
• Proof of identity
• Proof of citizenship or residence permit
• Proof of residence

What is the estimated funding time for a personal line of credit?

Regions Bank line of credit will typically provide a credit approval decision in less than an hour and fund the line of credit within 7 business days .

Does Regions Bank Preferred Line of Credit report your account activity to credit bureaus?

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

• Equifax
• Experian
• Transunion

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.

Is Regions Bank a legit company?

Regions Bank was founded in 1873, it is a well-established company that has been in business for 150 years.

Unfortunately, we don't have sufficient community reviews to provide a reliable rating of their user experience and customer service.

How to apply for Regions Bank line of credit

• Visit the 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.