KeyBank Preferred Credit Line

KeyBank Preferred Credit Line Review

KeyBank Preferred Credit Line is offered through KeyBank, a financial services company founded in 2009 and based in Cleveland, OH. Key Bank line of credit are 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 and credit history, 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 and permanent resident / green card holders are eligible to apply for the services offered by KeyBank Preferred Credit Line.

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.

Is KeyBank a legit company?

KeyBank was founded in 2009, it is a well-established company that has been in business for 14 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 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.