Line of Credit FAQs

A Line of Credit is a set amount of funds that are available for you to borrow as needed. Once you decide to use the funds available to you, you will only pay interest on the amount you

decide to borrow. As you pay down the principal balance, you can borrow more money (up to your credit limit) as you please.

When compared with other personal loans, a Line of Credit offers more flexibility. This is especially helpful when you're unsure exactly how much money you need to borrow. You can draw as little as you need down to the minimum loan amount, or as much as you need up to your approved credit limit.

To apply for a Line of Credit you will need:

• To be at least 18 years old
• A valid ID
• A steady source of income
• An open bank account

If applying online, you will need to provide your Social Security number and a valid email address.

Lines of credit accrue daily interest on the amount you have borrowed from your approved line (your principal loan amount). Speedy Cash recommends only borrowing what you need to keep your interest as low as possible. Rates and terms can vary from state to state, so chat with a Speedy Cash team member or visit our Rates and Terms page for your state to learn more about availability and details.

Typically, your payments will be scheduled around your paydays. For example, if you are paid once every two weeks, you would make payments every two weeks. If you are paid monthly, then you would make monthly payments. At Speedy Cash, we encourage you to make additional payments to save on interest. Your contract will contain all the terms and your due date, please review it carefully.

No need to continuously reapply to withdraw funds from a Line of Credit. That's one of the benefits of this loan type! You can continue to withdraw from your available Line of Credit as you wish as long as the line is open.

Possibly, depending on a number of factors. Namely, the state in which you reside and our corresponding products offered. In some states, we only offer Lines of Credit. We also consider your current income, your ability to repay and credit score. For more information, contact your local store or call Customer Service at 1-888-333-1360.

At Speedy Cash, we take more than your credit score into account when making a lending decision. Your ability to repay and your income are part of the decision making process. If you have bad credit, we encourage you to speak with a team member and apply if a loan from Speedy Cash is your best option. We understand that bad credit can limit your options, and when possible, we try to help.

A credit line is a revolving loan that allows you to borrow money as you need it, up to your available credit limit. Availability and maximum borrowing amounts vary from state to state. The credit limit, or maximum borrowing amount, is the maximum amount you can withdraw. For example, if you're approved for $750 then $750 is your credit limit and the maximum amount you can borrow. Keep in mind, you don't have to borrow the full amount you're approved for when utilizing a Line of Credit.