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  SunTrust Select Credit Line

SunTrust Select Credit Line

in Personal Lines of Credit from SunTrust Bank

Unaffiliated

SunTrust Select Credit Line

Unaffiliated

in Personal Lines of Credit from SunTrust Bank

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Highlights
Highlights
Loan Amount $25,000 - $5,000,000
APR (Variable APR) 5.75% - 24%

Overview

Where does SunTrust Select Credit Line do business?

SunTrust Select Credit Line is a bank based in Atlanta, GA. that was founded in 2015. SunTrust Select Credit Line is offered in 50 states (and Washington, DC).

What are the APRs offered via SunTrust Select Credit Line?

SunTrust Select Credit Line offers business loans with variable APRs starting from 5.75% to 24%.

Does SunTrust Select Credit Line charge an origination fee?

No, SunTrust Select Credit Line 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 Select Credit Line charge a cash advance fee?

No, SunTrust Select Credit Line 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 Typically, fees range from 0.5% to 10% of the amount withdrawn.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 Select Credit Line charge a late fee?

Yes, SunTrust Select Credit Line may charge borrowers a late payment fee

Does SunTrust Select Credit Line charge prepayment fees?

No, SunTrust Select Credit Line 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 Select Credit Line?

Upon approval and based on your credit worthiness, your SunTrust Select Credit Line personal line of credit will be assigned a credit line of at least $25,000 and as much as $5,000,000.

What do you need to qualify for a line of credit with SunTrust Select Credit Line?

Applicants with a credit score of at least 600 can apply for a line of credit via SunTrust Select Credit Line.

SunTrust Select Credit Line 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 SunTrust Select Credit Line. 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
  • Proof of identity
  • Proof of income

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

SunTrust Select Credit Line 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 SunTrust Select Credit Line

  • Visit the SunTrust 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.
SUNTRUST SELECT CREDIT LINE Disclosure: Subject to credit approval, eligibility and credit qualifications. 1 Some restrictions on the use of Select Credit Line loan proceeds may apply under the loan documents and applicable laws and regulations. 2 To be a Premier client, you must maintain $100,000 or more in deposits or eligible investable assets with SunTrust Bank or SunTrust Investment Services "STIS". 3 Collateral must be held in individual name(s) or in the name of an approved trust. Stock concentration in an account may impact collateral eligibility. Eligible borrowers should have sufficient liquidity to accommodate margin calls should there be a substantial drop in collateral value. 4 Making only the minimum payment due each due date will not reduce your principal balance on this line. Full balance owed is due at maturity. 5 Select 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 12/20/18. 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 APR is variable and will change as the index increases or decreases. Borrower must provide a Personal Financial Statement and last two years of K-1s. 6 A 0.25% interest rate reduction off the standard rate is provided if payment is automatically deducted from a 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 automatic payment 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...

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

Feature Breakdown

Annual Fee $0
No Origination Fee  
No Prepayment Fee  
Credit Score Range 600 - 850
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
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
  • Individual Applications
Verification Documents Required
  • Proof of Identity
  • Proof of Income
  • Driver License (or other photo ID)
Loan Amount $25K - $5M
APR (Variable APR) 5.75% - 24%

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