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  SunTrust Personal Credit Line Plus

SunTrust Personal Credit Line Plus

in Personal Lines of Credit from SunTrust Bank

Claimed

SunTrust Personal Credit Line Plus

Claimed

in Personal Lines of Credit from SunTrust Bank

SuperMoney Net Recommendation Score +40

SUPERMONEY NET RECOMMENDATION SCORE

This product is mostly recommended by SuperMoney users with a score of +40, equating to 3.8 on a 5 point rating scale.

+40

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.

Mostly recommended

3 users recommend
1 user is unsure
1 user doesn't recommend
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Highlights
Community Rating Mostly recommended
Loan Amount $25,000 - $500,000
APR  (Variable APR) 8.65% - 24%
Number of Reviews 5

SunTrust Personal Credit Line Plus Review

SunTrust Personal Credit Line Plus is offered by SunTrust Bank, a bank founded in 1865 and based in Atlanta, GA. SunTrust Personal Credit Line Plus is available in 10 states (and Washington, DC).

Suntrust personal line of credit FAQ

What APRs does SunTrust Personal Credit Line Plus offer?

SunTrust Personal Credit Line Plus offers a variable APR product that ranges from 8.65% APR up to 24% APR. Rate is quoted with autopay discount*.

Does Suntrust personal 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 Suntrust personal line of credit charge a cash advance fee?

No, they do not 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 Typically, fees range from 0.5% to 10% of the amount withdrawn.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 the SunTrust Personal Credit Line Plus charge a statement balance fee?

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

Does SunTrust Personal Credit Line Plus charge a late fee?

Yes, they may charge borrowers a late payment fee.

How much can you borrow via Suntrust personal 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 $25,000 and as much as $500,000. .

SunTrust Personal Credit Line Plus Fees
Cash Advance Fee N/A
Origination Fee No
Prepayment Fee? No
Late Payment Fee No
Statement Balance Fee No

What do you need to qualify for SunTrust Personal Credit Line Plus?

Applicants with a credit score of at least 600 and up to 850 may be eligible for SunTrust Personal Credit Line Plus. The minimum age to be eligible is 18 or the state minimum, whichever is higher.

SunTrust Personal Credit Line Plus does not have or does not disclose a minimum annual income eligibility requirement. SunTrust Personal Credit Line Plus only considers borrowers who are employed.

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 SunTrust Personal Credit Line Plus. Their rates fall within the limits of The Military Lending Act.

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

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

  • Proof of income
  • Driver's license
  • Proof of identity
  • Proof of citizenship or residence permit

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

Suntrust personal line of credit will typically approve (or deny) a line of credit application within 48 hour s and fund personal lines of credit within 7 business day s of approval.

Does SunTrust Personal Credit Line Plus report your account activity to credit bureaus?

Yes, SunTrust Personal Credit Line Plus 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 Suntrust personal 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.
SunTrust Personal Credit Line Plus Disclosure: Subject to credit approval, eligibility and credit qualifications. 1 To qualify for this line, $100,000 or more in verifiable eligible investable assets held with SunTrust Bank or other financial institutions are required. 2 Personal Credit Line rates will vary with the market based on the Prime Rate. The Prime Rate means the highest per annum "Prime Rate" of interest published by The Wall Street Journal in its "Money Rates" listings, which was 5.50% on 12/20/2018. For a Personal Credit Line Plus, standard APRs could range from Prime + 3.15% (currently 8.65% APR) to Prime + 3.95% (currently 9.45% APR) and are based on your credit line amount and creditworthiness. For a Select Credit Line, standard APRs could range from Prime + 0.50% (currently 6.00% APR) to Prime + 0.95% (currently 6.45% APR) and are based on your credit line amount and creditworthiness. The maximum APR for loans in AL, AR, DC, GA, MD, SC and VA is 24%. The maximum APR for loans in TN is 21%. The maximum APR for loans in FL, MS, NC and WV is 18%. 3 A 0.25% interest rate reduction off the standard rate is provided if payment is automatically deducted from a qualifying SunTrust checking, savings or money market account using a recurring, automatic payment. All loan and line discount offers are subject to change. Relationship pricing and ACH discounts are not available on existing consumer loans or lines of credit. Relationship pricing discounts may not be applicable for all products. Consult your banker for details.
SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
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.

Availability

  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 Origination Fee
No Prepayment Fee
Credit Score Range 600 - 850
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
  • Individual Applications
Military Status
  • Active Duty Military
  • Military Dependent
  • Non-Military
  • Veterans
Minimum Age 18
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)
Approval Speed 48 hours
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) 8.65% - 24%
Loan Amount $25,000 - $500,000

SunTrust Personal Credit Line Plus Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

This product is mostly recommended by SuperMoney users with a score of +40, equating to 3.8 on a 5 point rating scale.

+40

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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