US Bank Premier Line of Credit Review

US Bank Premier Line of Credit is offered by US Bank, a bank founded in 1863 and based in Minneapolis, MN. US Bank Premier Line of Credit is available in 50 states (and Washington, DC).

What APRs does US Bank Premier Line of Credit offer?

US Bank Premier Line of Credit offers a variable APR product of 12.5% APR.

Does US Bank Premier Line of Credit charge an origination fee?

No, US Bank Premier 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 US Bank Premier Line of Credit charge a cash advance fee?

Yes, US Bank Premier Line of Credit may charge a fee of 4% of the amount of each cash advance.

Does US Bank Premier Line of Credit charge a late fee?

Yes, US Bank Premier Line of Credit may charge borrowers a late payment fee.

US Bank Premier Line of Credit Fees

Cash Advance Fee	4%
Origination Fee	N/A
Prepayment Fee?	Yes
Late Payment Fee	N/A

What do you need to qualify for US Bank Premier Line of Credit?

Applicants with a credit score of at least 600 and up to 850 are eligible for US Bank Premier Line of Credit.

US Bank Premier Line of Credit does not have or does not disclose a minimum annual income eligibility requirement. US Bank Premier Line of Credit 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 US Bank Premier Line of Credit. Their rates fall within the limits of The Military Lending Act.

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

Does US Bank Premier Line of Credit report your account activity to credit bureaus?

US Bank Premier Line of Credit 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 US Bank Premier Line of Credit

• Visit the US 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.