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  Regions Bank Preferred Line of Credit

Regions Bank Preferred Line of Credit

in Personal Lines of Credit from Regions Bank

Unaffiliated

Regions Bank Preferred Line of Credit

Unaffiliated

in Personal Lines of Credit from Regions Bank

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Highlights
Highlights
Loan Amount $3,000 - $50,000
APR (Variable APR) 8.74% - 18.74%

Overview

Where does Regions Bank Preferred Line of Credit do business?

Regions Bank Preferred Line of Credit is a bank based in Huntsville, AL. that was founded in 1873. Regions Bank Preferred Line of Credit is offered in 15 state s across the USA.

What are the APRs offered via Regions Bank Preferred Line of Credit?

Regions Bank Preferred Line of Credit offers personal lines of credit with variable APRs starting from 8.74% to 18.74%.

Does Regions Bank Preferred Line of Credit charge an origination fee?

No, Regions Bank Preferred 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 Regions Bank Preferred Line of Credit charge a cash advance fee?

Yes, Regions Bank Preferred Line of Credit may charge a fee. starting at $10

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

Yes, Regions Bank Preferred Line of Credit may charge borrowers a late payment fee of up to $29 , which is triggered if you're 10 days late

.

Does Regions Bank Preferred Line of Credit charge prepayment fees?

No, Regions Bank Preferred Line of Credit does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the line of credit off and close the account.

How much can you borrow via Regions Bank Preferred Line of Credit?

Upon approval and based on your credit worthiness, your Regions Bank Preferred Line of Credit personal line of credit will be assigned a credit line 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 N/A
Prepayment Fee? No
Late Payment Fee $29

What do you need to qualify for a line of credit with Regions Bank Preferred Line of Credit?

Applicants with a credit score of at least 600 can apply for a line of credit via Regions Bank Preferred Line of Credit. Regions Bank Preferred Line of Credit only considers borrowers who are employed, or have a regular source of income or benefits

Active duty servicemembers and their covered dependents are not considered covered borrowers. In other words, they are eligible to apply for a line of credit via Regions Bank Preferred Line of Credit. Their rates fall within the limits of The Military Lending Act. Only U.S. citizens and permanent residents can apply for a line of credit.

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

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

What is the estimated funding time for a personal line of credit via Regions Bank Preferred Line of Credit?

Regions Bank Preferred Line of Credit will typically provide a credit approval decision in less than an hour and fund the line of credit within 7 business day s .

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

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

  • Equifax
  • Experian
  • Transunion

Making regular and on-time payments on a credit card that reports your account activity to credit bureaus will demonstrate that you consistently manage debt well and can help increase your credit scores.

How to apply for Regions Bank Preferred Line of Credit

  • Visit the Regions Bank .
  • 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.
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Availability

Alaska Alabama Arkansas Arizona California Colorado Connecticut Washington, D.C. Delaware Florida Georgia Hawaii Iowa Idaho Illinois Indiana Kansas Kentucky Louisiana Massachusetts Maryland Maine Michigan Minnesota Missouri Mississippi Montana North Carolina North Dakota Nebraska New Hampshire New Jersey New Mexico Nevada New York Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Virginia Vermont Washington Wisconsin West Virginia Wyoming
  Available in 15 states
  • Alabama
  • Arkansas
  • Florida
  • Georgia
  • Illinois
  • Indiana
  • Iowa
  • Kentucky
  • Louisiana
  • Mississippi
  • Missouri
  • North Carolina
  • South Carolina
  • Tennessee
  • Texas

Feature Breakdown

No Origination Fee  
No Prepayment Fee  
Annual Fee $50
Late Fee After (number of days) 10
Late Fee Amount $29
Cash Advance Fee ($) Starting at $10
Minimum Payment $20
Credit Score Range 600 - 850
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Bank Account Required  
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Retired
  • Self-Employed
Military Status
  • Active Duty Military
  • Military Dependent
  • Non-Military
  • Veterans
Supported Income Types
  • 1099 Misc. Income
  • Cash
  • Direct Deposit (W2, SSA, SSDI)
  • Payroll Check or Prepaid Card
Joint Loan Applications Accepted
  • Cosigner
  • Individual Applications
Verification Documents Required
  • Proof of Identity
  • Proof of Income
  • Proof of Residence
  • Driver License (or other photo ID)
  • Proof of citizenship/residence (Green Card)
Minimum Draw $100
Loan Amount $3K - $50K
APR (Variable APR) 8.74% - 18.74%

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