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CreditFresh - Line of Credit

in Personal Lines of Credit from CreditFresh Inc.

Claimed Apply Now

CreditFresh - Line of Credit

Claimed

in Personal Lines of Credit from CreditFresh Inc.

Net Recommendation Score +100

SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +100, equating to 5 on a 5 point rating scale.

+100

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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Highlights
Community Rating

Rating not yet determined  

Loan Amount $500 - $3,500
APR  (Fee or Charge Based Product) 117% - 203%

CreditFresh - Line of Credit Review

CreditFresh - Line of Credit is offered by CreditFresh Inc., founded in 2019 and based in Newark, DE. It is made possible by a bank partnership with CBW Bank. CreditFresh - Line of Credit is available in 13 states across the USA.

CreditFresh - Line of Credit FAQ

What APRs does CreditFresh - Line of Credit offer?

CreditFresh - Line of Credit offers a fee or charge based product that ranges from 117% APR up to 203% APR.

CreditFresh - Line of Credit offers a charge-based product with an annualized rate dependent on how the product is used. Unlike most credit lines, which typically charge a simple daily interest rate, CreditFresh - Line of Credit does not have a periodic interest rate. Instead, it charges a billing cycle charge each payment period based on the average daily principal balance. The effective APR will vary depending on the line of credit usage and payment behavior.

Does the CreditFresh - Line of Credit charge an origination fee?

No, CreditFresh - 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 CreditFresh - Line of Credit charge a cash advance fee?

No, CreditFresh - 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 Typically, fees range from 0.5% to 10% of the amount withdrawn.

Is there a billing cycle charge?

Yes, CreditFresh - Line of Credit has a billing cycle charge of $5 to $350 each billing cycle.

Does CreditFresh - Line of Credit charge a late fee?

No, CreditFresh - Line of Credit will not charge you a late fee.

How much can you borrow via CreditFresh - Line of Credit?

Upon approval and based on your credit worthiness, your CreditFresh - Line of Credit personal line of credit will be assigned a credit limit of at least $500 and as much as $3,500. .

CreditFresh - Line of Credit Fees
Cash Advance Fee N/A
Origination Fee No
Prepayment Fee? No
Late Payment Fee No
Statement Balance Fee No
Billing Cycle Charge $5 - $350

What do you need to qualify for CreditFresh - Line of Credit?

CreditFresh - Line of Credit does not require or does not disclose a credit score minimum. The minimum age to be eligible is 18 or the state minimum, whichever is higher.

CreditFresh - Line of Credit does not have or does not disclose a minimum annual income eligibility requirement. CreditFresh - 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 CreditFresh - 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 are, of course, eligible for the services offered by CreditFresh - Line of Credit. Permanent resident / green card holders are also eligible to apply.

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

  • Proof of income
  • Proof of identity

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

CreditFresh - Line of Credit will typically approve (or deny) a line of credit application within 24 hour s and fund personal lines of credit within 1 business day of approval.

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

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

  • 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.

How to apply for CreditFresh - Line of Credit

  • Visit the CreditFresh - 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.
CreditFresh - Line of Credit Disclosure: The Line of Credit is offered by CBW Bank, Member FDIC and is available through CreditFresh. CBW Bank is responsible for underwriting, approving and funding the Line of Credit.  There is no periodic rate for this product. The Effective APR range represents an annualized effective rate which is based on the Billing Cycle Charge. See the Billing Cycle Charge table for the complete range of Billing Cycle Charges applicable to the Line of Credit. If you have an Outstanding Balance, you will be charged a Billing Cycle Charge based on the Average Daily Principal Balance that appears on your periodic statement. Your billing cycle may be monthly, semi-monthly, or bi-weekly. For example, if the Average Daily Principal Balance appearing on your periodic statement is $500.00 to $749.99, and you are paid weekly, bi-weekly or semi-monthly, your Billing Cycle Charge will be $40.00, but if you are paid monthly, your Billing Cycle Charge will be $80.00.  Additionally, a portion of your Minimum Payment will be applied to your Outstanding Principal Balance to help ensure you are always paying down what you owe. “Max. Monthly Payment” is the Minimum Payment due at the end of the billing cycle, which includes the applicable Billing Cycle Charge and a Mandatory Principal Contribution.  You must apply on the CreditFresh website to be approved for a Line of Credit (this includes consumers who receive a pre-qualified offer). It is your responsibility to review all offers available to you and choose the most appropriate offer for your financial circumstances. All requests are subject to standard underwriting policies. Terms displayed in the offer, specifically “Max. Monthly Payment”, “APR”, and “credit limit”, assume: the entire amount of the Line of Credit is withdrawn right away, no subsequent draws are made, and monthly due dates. Terms displayed may vary and are subject to change based on the consumer’s verified information, pay frequency, creditworthiness, Line of Credit usage and payment behavior.   Not all requests are approved; duration of approval process may vary. Any requested funds may be deposited into your bank account the same business day, depending on the time of request; timing of funding may vary. The date and time requested funds are made available to you by your bank are subject to your bank’s policies. For specific funding cut-off times, visit the FAQs on the CreditFresh website. Your account activity may be reported to both prime and subprime credit reporting agencies. The exact impact of reporting your Line of Credit account to your prime credit score is unknown as your credit score is influenced by numerous contributing factors. Documents requested to qualify for credit are subject to change and may vary based on individual circumstances. View CreditFresh - Line of Credit's published terms & conditions.
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Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Message From CreditFresh Inc.

With a Line of Credit by CBW Bank through CreditFresh, you will have a flexible way to access credit when you need it. You will only pay charges on what you borrow. The process to apply is quick and easy with clear repayment terms! The Line of Credit is offered by CBW Bank, Member FDIC.

Contact

  • Headquarters
  •   200 Continental Drive, Suite 401
    Newark, DE 19713
  •   Visit Site

Hours of Operation

  • Sunday 10:00am - 6:00pm
  • Monday 8:00am - 9:00pm
  • Tuesday 8:00am - 9:00pm
  • Wednesday 8:00am - 9:00pm
  • Thursday 8:00am - 9:00pm
  • Friday 8:00am - 9:00pm
  • Saturday 10:00am - 6:00pm

About CreditFresh - Line of Credit

Availability

  Available in 13 states
  • Delaware
  • Florida
  • Idaho
  • Indiana
  • Kansas
  • Kentucky
  • Missouri
  • Mississippi
  • Nebraska
  • Ohio
  • South Carolina
  • Tennessee
  • Wisconsin

Feature Breakdown

Annual Fee $0
Billing Cycle Charge $5 - $350
No Origination Fee
No Prepayment Fee
Origination Fee ($) $0
No Late Fees
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Self-Employed
  • Retired
  • Unemployed
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Joint Loan Applications Accepted
  • Individual Applications
Military Status
  • Non-Military
Minimum Age 18
Supported Income Types
  • Direct Deposit (W2, SSA, SSDI)
Verification Documents Required
  • Proof of Income
  • Proof of Identity
Approval Speed 24 hours
Credit Bureau Reporting
  • Other
  • TransUnion
Funding Time Range 1 day
Payment Options Automatic Payments
APR (Fee or Charge Based Product) 117% - 203%
Loan Amount $500 - $3,500

CreditFresh - Line of Credit Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +100, equating to 5 on a 5 point rating scale.

+100

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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