Line of Credit in Missouri
In the current challenging economy, it’s prudent to have a cash safety net that can help you cover expenses in case of a financial surprise like job loss, unplanned home repairs, car trouble and medical bills. Minute Loan Center offers a line of credit in Missouri that can give you a sense of security and stability in readiness for whatever may come up.
Minute Loan Center offers a line of credit of up to $5,000. As the best credit lender in Missouri, we work harder to say YES to your application and you’re likely to qualify, even with a low credit score, given our 97% approval rate.
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What is a Line of Credit?
A line of credit is an arrangement reached by a lender and a borrower to provide a credit line of a particular amount to be borrowed over a specified period. The money is available to you whenever you need it, for immediate use or for withdrawal over time. As such, a line of credit gets you better flexibility and liquidity than a regular loan.
Acquiring a line of credit in Missouri would be GREAT for:
- Flexibility and safety of quick access to funds.
- Pool resources for proper budgeting.
- Managing debt payments.
- Lifeline during periods of cash flow uncertainty.
- An emergency buffer for unexpected household expenses.
What Do I Need to Apply?
Although Minute Loan Center seeks to be the most amenable credit lender in Missouri, our approval process is thorough. Our in-house credit experts work hard to ensure that the information you provide is accurate to be sure of your identity and for our customers’ protection from identity theft.
Our underwriting requirements are that 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 Missouri, be earning a regular income and have a valid email to receive electronic disclosures. We also ask that you agree to the terms and conditions of our underwriting.
How It Works
Having a Minute Loan Center line of credit in Missouri cancels the need to make numerous trips to a credit lender and go through underwriting whenever you need money. After getting approved for a particular amount, the money is available to you for withdrawal from your account, within the specified period. You may choose to draw down the entire amount, a portion of it, or none of it just yet. The repayment is scheduled for 5-19 days after your first withdrawal.
Some ways you can utilize your financial safety net in Missouri are:
- Cover emergencies like unexpected non-payday, medical bills, etc.
- Home improvements like buying appliances, furniture, decor, etc.
- Travel and entertainment like getaways and cruises.
- Debt consolidation.
- Overdraft protection for irregular income earners.
A Missouri line of credit allows you to cushion yourself from unforeseen financial emergencies, enjoy special life events, and make your payments without worrying about money. Minute Loan Center stands out as the best credit lender in Missouri and we are happy to offer this financial safety net for you. Apply for a loan today!
Frequently Asked Questions
How does my credit limit work?
Our credit limit avails up to $5,000 to each VIP Member. You can access and draw down funds from your account as needed without going through underwriting each time you need money. With our super fast approvals, having a line of credit in Missouri gives the security of knowing you have access to funds when you need them.
What Is My Annual Percentage Rate (APR)?
Minute Loan Center APRs are customized. Always check your contract to see what your interest rate is. Depending on your original underwriting, the APR may change as you take out separate advances. In essence, each customer and each borrowing is different, and you should check your contract and your account for more details. But, we aim to be the most affordable credit lender in Missouri.
Can I Choose a Billing Period?
We strive to make repayment as comfortable and convenient as possible for our customers. You can schedule automatic payments on your statement due date or make the deposits yourself. The billing cycle for a Missouri line of credit is synchronized to your Primary Income Pay Cycle, in that the due dates match your pay dates, except for Weekly paid customers who take up a Bi-Weekly schedule.
The Pay Date Option is the most convenient, and it makes it easier for our VIP Members to budget their money and effectively meet their obligations.
When is My First Billing Period?
Your billing period starts 5-19 days after your first advance raw, but the exact date is set to match your pay date.
How Can I Receive My Statements?
As your credit lender in Missouri, we make your statements available on your account page. However, if you would like to receive them periodically by mail, we charge a small fee to send them to you.
Why Does My Minimum Payment Vary?
The minimum payment for your line of credit in Missouri is designed to vary, to make sure that your payments are affordable. The formulation for this can be complex, but it helps you pay down the principle of the advance so that with each payment, you bring down what you owe and the interest due.
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