Unlock the Convenience of a Revolving Line of Credit
Borrow what you need, when you need it, with simple interest rates.
What is a Line of Credit?
Flexible
A revolving Line of Credit (LOC) is an agreement between the Minute Loan Center and you, the borrower. After applying for a revolving line of credit, you prequalify for an amount of money (say $1,000) that you can borrow against when you need it.
Simple
Our simple interest line of credit means that when you borrow against the amount, you agree to repay the amount borrowed, with interest, in regular payments. Unlike credit cards that charge compound interest (interest on the amount borrowed plus on any interest accrued), our line of credit charges interest on only the amount you borrow. You can also borrow more at any time against the total, just not more than the total available from your LOC.
Reliable
If this sounds enticing, a revolving line of credit from Minute Loan Center could be the solution for you. With a Minute Loan Center LOC, you can prequalify for credit and access cash advances whenever you need them. Get peace of mind with convenient, reliable funding from Minute Loan Center.
How a Minute Loan Center Line of Credit Compares to Other Loan Options
Here’s how our Line of Credit compares to other options*:
|
Product |
Term |
Access to Credit |
Repayment |
|---|---|---|---|
|
Line of Credit (MLC Option) |
As long as the borrowing arrangement remains |
As needed, up to a preset limit, within the term |
Monthly payments based on the amount borrowed. |
|
Payday Loan |
Fixed Term (Next Payday) |
Often based primarily on proof of income and a bank account |
Entire loan amount plus fees on next payday. |
|
Title Loan |
Fixed Term |
Typically based on the vehicle's value |
Scheduled payments over a short period. |
|
Bank Loans |
Fixed Term |
Generally more restrictive than payday loans or title loans |
Fixed, scheduled payments. |
* Comparison is provided for general informational purposes only. Terms, rates, fees, repayment obligations, and eligibility requirements vary by lender and product. Refer to your Line of Credit Agreement and Truth-in-Lending disclosures for complete details.
States Offering Lines of Credit
How do I prequalify?
The Minute Loan Center application process is easy and protected by bank-level security protocols. You don’t need a strong credit score.
Simply register for a VIP member account, and we’ll let you know how much you prequalify for. We maintain physical, electronic, and procedural safeguards in compliance with federal banking regulations to guard your nonpublic personal information.
Frequently Asked Questions
A line of credit can provide more flexibility than other types of loans. Like a credit card, you have access to a certain amount of credit, against which you can borrow. You only pay interest on the amount you borrowed, and never on any interest accrued.
/nThis combination of features provides flexibility – you only borrow the amount you need, and control, because each payment pays down your principal, reducing the amount used. Many Americans find an LOC to be a very useful credit tool.
Disclaimer: Loan approval and terms are subject to verification of application information, underwriting review, and compliance with applicable state law. Not all applicants will qualify for the lowest advertised rates or for same-day funding. Funding times may vary based on bank processing schedules and customer verification requirements. Fees, repayment terms, and product availability differ by state. Please review your loan agreement carefully for complete terms and conditions. Please borrow responsibly. Loans are intended for short-term financial needs and are not a long-term financial solution. This content is for educational purposes and does not constitute an offer to lend or a solicitation in any state where we are not licensed.