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  KeyBank Preferred Credit Line

KeyBank Preferred Credit Line

in Personal Lines of Credit from KeyBank National Association

Unaffiliated

KeyBank Preferred Credit Line

Unaffiliated

in Personal Lines of Credit from KeyBank National Association

Net Recommendation Score -100

SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly not recommended by SuperMoney users with a score of -100, equating to 1 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

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Loan Amount $250 - $50,000
APR  (Variable APR) 9.24% - 24.24%

KeyBank Preferred Credit Line Review

KeyBank Preferred Credit Line is offered by KeyBank National Association, a bank founded in 1929 and based in Cleveland, OH. KeyBank Preferred Credit Line is available in 15 states across the USA.

Key Bank line of credit FAQ

What APRs does KeyBank Preferred Credit Line offer?

KeyBank Preferred Credit Line offers a variable APR product that ranges from 9.24% APR up to 24.24% APR.

Does Key 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 Key Bank line of credit charge a cash advance fee?

Yes, they may charge a fee of up to 10% of the amount of each cash advance. .

Does the KeyBank Preferred Credit Line charge a statement balance fee?

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

Does KeyBank Preferred Credit Line charge a late fee?

Yes, they may charge borrowers a late payment fee of up to $35 .

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

Upon approval and based on your credit score, your personal line of credit will be assigned a credit limit of at least $250 and as much as $50,000. .

KeyBank Preferred Credit Line Fees
Cash Advance Fee up to $10.
Origination Fee No
Prepayment Fee? No
Late Payment Fee $35
Statement Balance Fee No

What do you need to qualify for KeyBank Preferred Credit Line?

KeyBank Preferred Credit Line 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.

KeyBank Preferred Credit Line does not have or does not disclose a minimum annual income eligibility requirement. KeyBank Preferred Credit Line 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 KeyBank Preferred Credit Line. Their rates fall within the limits of The Military Lending Act.

U.S. citizens are, of course, eligible for the services offered by KeyBank Preferred Credit Line. Permanent resident / green card holders are also eligible to apply.

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

  • Applicants must have an active and valid personal checking account
  • Driver's license
  • Proof of identity

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

Key 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 KeyBank Preferred Credit Line report your account activity to credit bureaus?

Yes, KeyBank Preferred Credit Line 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.

How to apply for Key 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.
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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.

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Other Services by KeyBank National Association

Availability

  Available in 15 states
  • Alabama
  • Colorado
  • Connecticut
  • Idaho
  • Indiana
  • Maine
  • Massachusetts
  • Michigan
  • New York
  • Ohio
  • Oregon
  • Pennsylvania
  • Utah
  • Vermont
  • Washington

Feature Breakdown

No Origination Fee
No Prepayment Fee
Annual Fee $50
Cash Advance Fee (%) Up to 10%
Late Fee Amount $35
Minimum Payment $20
Checking Account Required
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Retired
  • Self-Employed
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Joint Loan Applications Accepted
  • Cosigner
Military Status
  • Active Duty Military
  • Military Dependent
  • Non-Military
  • Veterans
Minimum Age 18
Verification Documents Required
  • Proof of Identity
  • Driver License (or other photo ID)
Credit Bureau Reporting
  • Equifax
  • Experian
  • TransUnion
Funding Time Range 1 - 7 days
Payment Options
  • Automatic Payments
  • Check by mail
  • Credit/Debit Card
APR (Variable APR) 9.24% - 24.24%
Loan Amount $250 - $50,000

KeyBank Preferred Credit Line Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly not recommended by SuperMoney users with a score of -100, equating to 1 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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