MoneyKey Line of CreditClaimed
in Personal Lines of Credit from MoneyKey Inc.
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|Community Rating||Mostly recommended|
|APR (Fixed APR)||24% - 399%|
|Loan Amount||$200 - $1,000|
MoneyKey Line of Credit Review
MoneyKey Line of Credit is offered by MoneyKey Inc., a direct lender founded in 2011 and based in Wilmington, DE. MoneyKey Line of Credit is offered in 3 states across the USA.
What APRs does MoneyKey Line of Credit offer?
MoneyKey Line of Credit offers a fixed APR product that ranges from 24% APR up to 399% APR.
Your APR can vary depending on several factors, such as your credit score. Find out what your credit score is and whether there is any false or inaccurate information in your credit history with these credit monitoring tools.
Does 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 MoneyKey Line of Credit charge a cash advance fee?Yes, MoneyKey Line of Credit may charge a fee of 10% to 15% of the amount of each cash advance.
Does MoneyKey Line of Credit charge a late fee?Yes, MoneyKey Line of Credit may charge borrowers a late payment 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 line of at least $200 and as much as $1,000. .
|Cash Advance Fee||10% - 15%|
|Late Payment Fee||N/A|
What do you need to qualify for MoneyKey Line of Credit?
Applicants with a credit score of at least 300 and up to 700 are eligible for MoneyKey Line of Credit. The minimum age to be eligible is 18 or the state minimum, whichever is higher.
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.
Only U.S. citizens and permanent residents can apply for a loan.
To qualify, applicants may need to provide the following documentation:
- Applicants must have an active and valid checking account
- Recent pay stubs
- Proof of income
What is the estimated funding time for a personal line of credit via MoneyKey Line of Credit?MoneyKey Line of Credit will typically approve (or deny) a line of credit application within 24 hour s and fund personal lines of credit within 2 business day s of approval.
Does MoneyKey Line of Credit report your account activity to credit bureaus?
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 can help improve your credit score.
How to apply for MoneyKey Line of Credit
- Visit the MoneyKey Inc. website.
- Fill in the application form. You will typically need to provide general financial information, such as your Social Security Number, address, annual income, and source of employment.
- Check the information is accurate and submit your application.
|No Origination Fee|
|No Prepayment Fee|
|Cash Advance Fee (%)||10% - 15%|
|Credit Score Range||
300 - 700
|Immigration Status Considered||
|Bank Account Required|
|Employment Statuses Considered||
|Supported Income Types||
|Joint Loan Applications Accepted||
|Verification Documents Required||
|Loan Amount||$200 - $1K|
|APR (Fixed APR)||24% - 399%|