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SunTrust Bank

in Personal Lines of Credit

Unaffiliated Visit Site

SunTrust Bank

Unaffiliated

in Personal Lines of Credit

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Overview

Where does SunTrust Bank do business?

SunTrust Bank is a bank based in Atlanta, GA. It was founded in 1865 and offers personal lines of credit in 10 states (and Washington, DC).

What are the APRs offered via SunTrust Bank?

SunTrust Bank offers a variable APR personal line of credit that ranges from 7.9% up to 24%.

Does SunTrust Bank charge an origination fee?

No, SunTrust Bank 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 SunTrust Bank charge a cash advance fee?

No, SunTrust Bank 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 Typically, fees range from 0.5% to 10% of the amount withdrawn..

Does SunTrust Bank charge a late fee?

Yes, SunTrust Bank may charge borrowers a late payment fee.

Does SunTrust Bank charge prepayment fees?

No, SunTrust Bank 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 SunTrust Bank?

Personal lines of credit start at $25 and go up to $500.

What do you need to qualify for a line of credit with SunTrust Bank?

Applicants with a credit score of at least 500 can apply for a line of credit via SunTrust Bank. The minimum age to apply for a line of credit is 18 or the state minimum, whichever is higher.

SunTrust Bank only considers borrowers who are employed.

Active duty servicemembers and their covered dependents cannot apply for a line of credit via SunTrust Bank. The Military Lending Act prohibits lenders from charging servicemembers more than a 36% APR.

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
  • 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 SunTrust Bank?

SunTrust Bank will typically approve (or deny) a line of credit application within 48 hours and fund personal lines of credit within 7 business days of approval.

Does SunTrust Bank report payments to credit bureaus?

SunTrust Bank may report credit data to the following credit reporting agencies:

    \
  • Equifax
  • Experian
  • Transunion
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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 10 states and Washington, D.C.
  • Alabama
  • Arkansas
  • Washington, DC
  • Florida
  • Georgia
  • Maryland
  • Mississippi
  • North Carolina
  • South Carolina
  • Virginia
  • West Virginia

Feature Breakdown

No Fees
No Origination Fee
 
No Prepayment Fee
 
Minimum Age
18
Credit Score Range
500 - 850
850 300 500
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Retired
  • Self-Employed
Supported Income Types
  • 1099 Misc. Income
  • Cash
  • Direct Deposit (W2, SSA, SSDI)
  • Payroll Check or Prepaid Card
Verification Documents Required
  • Proof of Identity
  • Proof of Income
  • Driver License (or other photo ID)
  • Proof of citizenship/residence (Green Card)
Dollar Amount
Loan Amount
$25 - $500
    $25 $100K
Percentage
APR
(Variable APR)
7.9% - 24%
    6% 250%+

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