Line of Credit in Kansas

Line of Credit in Kansas

Getting access to money when you need it is easy with a Kansas online loan from MoneyKey in the form of a line of credit. A Line of Credit is a borrowing option that gives you access to any amount of funds up to your credit limit. It is a revolving loan that, unlike a payday or installment loan, remains active even after you have paid it down to a zero balance.

An online loan in Kansas can be a valuable resource during unexpected emergencies. It can be used to help you deal with things like medical emergencies, unexpected home repairs, and car repairs when your savings are running low.

We make applying for online loans in Kansas fast and secure. Our friendly and knowledgeable Customer Care agents are available 7 days a week to assist you throughout the application and repayment process. They can answer any credit-related questions you may have.

Getting an Online Loan in Kansas

Between its rolling hills and expansive prairies, Kansas has plenty of natural beauty to see. But don’t sleep on the famous Kansas barbeque! Whether you’re visiting cities like, Kansas City, Wichita, or Topeka, there’s plenty to do and see in this great state.

In terms of population, Kansas ranks closer to the bottom of all states and the cost of living is fairly low as well, compared to the national average.

Having said that, it’s still important for residents of Kansas to be financially prepared in case of an emergency. Things like unexpected car repairs, emergency medical care, or essential home repairs can crop up at any time, and if your savings are low, you’ll need to have an alternative way of dealing with these expenses. In case of an emergency, a line of credit in Kansas may be a potential solution to bridge the gap between your savings and the cost of your expense.

Understanding the Line of Credit

Unlike an installment loan, you only need to apply once for a MoneyKey Kansas Line of Credit. If you are approved, you will have access to funds up to your credit limit, regardless of how many draws you make.

Line of Credit Amount

The amount of your Kansas Line of Credit will range between $200 and $2,500. After we review your application, we’ll let you know if you’re approved and how much you may qualify for.

Line of Credit Cost

You will be charged interest on the outstanding principal balance of your Line of Credit at a daily rate of 0.8000%. The corresponding annual percentage rate (APR) is 292%. This interest is only charged on the amount you use (the outstanding principal balance), not your total credit limit.

Making a Draw

You can withdraw the total credit available to you all at once, or in smaller amounts over time as you need it. When you request a draw, funds may be deposited to your bank account the same business day*.

Making a Payment

Before your due date, you will be issued a periodic statement outlining how much you owe. You are required to make your minimum payment by your due date, and you can also pay more to pay down your outstanding principal balance.

Your Minimum Payment

Your minimum payment for each billing cycle will consist of 2 components:

1. Interest: charged at a daily rate of 0.8000% on your outstanding principal balance for each day of your billing cycle;
2. A required principal payment: based on your pay frequency, as outlined below.

The exact amount of your minimum payment and the corresponding due date will be outlined in your periodic statement.