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  SunTrust Select Credit Line

SunTrust Select Credit Line

in Personal Lines of Credit from SunTrust Bank

Claimed

SunTrust Select Credit Line

Claimed

in Personal Lines of Credit from SunTrust Bank

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Strongly recommended

1 user recommends
0 users are unsure
0 users don't recommend
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Highlights
Highlights
Community Rating Strongly recommended
APR  (Variable APR) 5.75% - 24%
Loan Amount $25,000 - $5,000,000

SunTrust Select Credit Line Review

SunTrust Select Credit Line is offered by SunTrust Bank, a bank founded in 1865 and based in Atlanta, GA. SunTrust Select Credit Line is offered in 50 states (and Washington, DC).

What APRs does SunTrust Select Credit Line offer?

SunTrust Select Credit Line offers a variable APR product that ranges from 5.75% APR up to 24% APR. Rate is quoted with autopay discount*.

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 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 Typically, fees range from 0.5% to 10% of the amount withdrawn.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.

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. .

SunTrust Select Credit Line Fees
Cash Advance Fee N/A
Origination Fee N/A
Prepayment Fee? No
Late Payment Fee N/A

What do you need to qualify for SunTrust Select Credit Line?

Applicants with a credit score of at least 600 and up to 850 are eligible for SunTrust Select Credit Line.

SunTrust Select Credit Line does not have or does not disclose a minimum annual income eligibility requirement. SunTrust Select Credit Line 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 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 loan.

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

  • Proof of income
  • Driver's license
  • Proof of identity

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 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 SunTrust Select Credit Line

  • Visit the SunTrust Bank 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.
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%

SunTrust Select Credit Line Community Reviews

 
 

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