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A personal line of credit allows you to borrow and repay funds in a way that is far more flexible than a traditional short-term loan. After being approved for a line of credit, you will have a certain amount — called the credit limit — that you can borrow up to. Whenever you need funds, you can quickly withdraw money from your line of credit, borrowing up to your limit without having to reapply.
Once you draw on your line of credit, you’ll be charged regular interest based on the amount you’ve withdrawn. Though there may be a minimum monthly payment, you’ll have an amount of flexibility in paying back what you owe. You can make your repayments as quickly as possible to reduce interest charges, or you can space your repayments by paying the minimum amount due for each payment period, costing you more in the long term.
At present, we don’t offer lines of credit in every state. In the states where we do offer them, our lines of credit work somewhat differently for each state. Though the basics of each line of credit product are similar regardless of state, there may be differences in the requirements to apply, the draw and administration fees, the credit limits, and the repayment process. Check our Rates & Terms page to see whether lines of credit are offered in your state and, if so, what the conditions are.
The basic requirements to be eligible for a CashNetUSA line of credit are simple:
If all those things are true, you can complete our application to see if you are approved.
In reviewing your application, we do not perform traditional credit checks but instead look at national databases like Clarity to get a picture of your financial history†. This doesn’t mean that your credit background doesn’t matter. Actions that can lead to a bad credit score like defaulting on loans or consistently paying bills late will show up on our search. Even though we don’t factor your credit score into our decision, these kinds of actions might disqualify you from being approved for one of our lines of credit.
If you have any more questions about CashNetUSA’s lines of credit, you can head to our FAQs page or contact us directly. Our customer service representatives are ready to help seven days a week via phone, email and online chat. For further information about lines of credit, check out our other informational pages: