Line of Credit in Kansas
Did you know that you can access funds several times throughout the year without having to go through underwriting every time? Minute Loan Center has a new exclusive online loan product for our valued customers in Kansas that will enable you to do just that.
With a line of credit in Kansas, you can keep drawing from the same loan account and pay later. Ours is one of the most generous line of credit offers with a limit of up to $5,000. Read on to see how you can apply for the line of credit.
Lower Payments
Apply Once
Always Available
Flexible
Quick Access
What is a Line of Credit?
A line of credit is an arrangement a lender has with a borrower to avail a credit line of a particular amount to be borrowed over a specified period. With a line of credit, you enjoy greater flexibility and liquidity than with a regular loan because the money is available to you whenever you need it – unlike loans for which you must apply and go through underwriting when the funds are depleted. In addition, you pay interest only on the amount borrowed.
A line of credit in Kansas would be GREAT for:
- The safety and security of knowing you have quick access to funds.
- When you aren’t sure how much money you need.
- When you don’t want to owe more than you need to.
- When you do not know how long you will need the funds.
- Managing unpredictable or unexpected household expenses.
What Do I Need to Apply?
Minute Loan Center seeks to be the most accommodating credit lender in Kansas. We work harder to say YES to your application, but there are a few criteria you must meet to qualify. You must be 18 years or older, with a valid government ID and an active checking account or debit card.
You must also live in Kansas, be earning a regular income, and have a valid email to receive electronic disclosures. We also ask that you agree to our terms and conditions and provide proof of your meeting our underwriting requirements.
How It Works
A line of credit gives you convenient cash access. You do not need to approach a credit lender in Kansas and go through underwriting every time. Once we approve you for a particular amount, the money is available to you for withdrawal whenever. You may choose to draw down the entire amount, a portion of it, or none of it just yet. You only repay the amount borrowed and the interest accrued.
Here are some ways to utilize a personal line of credit in Kansas:
- An emergency fund for unexpected expenses.
- Home improvement like buying appliances, furniture, decor, etc.
- Making big purchases like a downpayment for a car.
- Pay for unexpected opportunities like a cruise, vacation, etc.
- Debt consolidation.
- Bridge income gap for irregular income earners.
Apply for a line of credit today and have the money to resolve life’s emergencies, enjoy special, and to ease making your payments. Our goal, as a credit lender in Kansas, is to help you see your financial goals come alive.
Frequently Asked Questions
How does my credit limit work?
Our line of credit has an available credit limit of up to $5,000. You can have access to and draw down funds up to your credit limit. You can take an advance for all of it, none of it, or draw down different amounts as you need it without having to go underwriting each time. Our line of credit in Kansas is a fast, super‐convenient way to know you have access to funds when you need them.
What Is My Annual Percentage Rate (APR)?
Always check your contract, as each contract is personally customized. Interest is always disclosed in the contract. Based on your original underwriting, the APR can vary when you take out separate advances. In essence, each customer is different, and you should check your contract for more details. But, we aim to be the most affordable credit lender in Kansas.
Can I Choose a Billing Period?
We strive to make this as convenient as possible for our customers. Customers can choose to schedule automatic payments on their statement due date. The billing cycle will be determined by the Primary Income Pay Cycle, which should match the customer’s pay dates, except for Weekly paid customers being moved to a Bi-Weekly schedule.
The Pay Date Option is designed to make it easier for our VIP Members to manage their budget and fulfill their obligation.
When is My First Billing Period?
The first billing period is based on the VIP Member’s pay date and could range between 5 to 19 days after the first advance draw.
How Can I Receive My Statements?
Our product provides a statement available to our customers on their account page, or the customer can choose to receive their statements by mail for an additional fee.
Why Does My Minimum Payment Vary?
Unlike an installment loan, which has a fixed payment amount and a fixed term, the line of credit in Kansas is open‐ended; and like a credit card, it offers a minimum payment. These minimum payments can vary, and while the formulation can be complex, it is designed to make sure minimum payments are affordable and help pay down the principle of the advance. Unlike some credit cards and short-term products, every payment pays down the advance.
The Minimum Payment Amount is calculated based on the following formulas:
Monthly Customers
((Unpaid Fees + Unpaid Principal) * 0.13) + Unpaid Interest
All Other Cycles
((Unpaid Fees + Unpaid Principal) * 0.07) + Unpaid Interest
