Line of Credit FAQs

A Line of Credit is a set amount of funds that are available for you to borrow as needed. Once you decide to use the funds available to you, you will only pay interest on the amount you

decide to borrow. As you pay down the principal balance, you can borrow more money (up to your credit limit) as you please.

A Line of Credit offers more flexibility. If you’re unsure on the exact amount of money you need, a Line of Credit may be your best choice. That way, you are only paying interest on the money you utilized.

• Complete an application online, in-store, or over the phone where available..
• Receive a quick lending decision.
• If approved, select how much you would like to borrow (up to your maximum approval amount).
• Review and sign your loan documents.
• Receive your funds when you draw on your credit line.
• Make scheduled loan payments (make additional or larger payments if you’d like to save on interest charges).
• Continue to access your Line of Credit (up to your credit limit) as needed.

To apply for a Line of Credit you will need:

• To be at least 18 years old
• A valid ID
• A steady source of income
• An open bank account

If applying online, you will need to provide your Social Security number and a valid email address.

Speedy Cash offers Lines of Credit in select states. Depending on the state you live in, you may be able to apply for a Line of Credit online, in-store, or over the phone where available. Check your state’s page to find out what options are available to you.

Speedy Cash offers an online application to those whose states allow it, and can be completed in about 10 minutes. Once your application is submitted, we will provide you with an instant lending decision.

Lines of Credit accrue daily interest for the amount you have borrowed on your line (your principal loan amount). Speedy Cash recommends only borrowing what you need to keep your interest as low as possible.

Typically, your payments will be scheduled around your paydays. For example, if you are paid once every two weeks, you would make payments every two weeks. If you are paid monthly, then you would make monthly payments. At Speedy Cash, we encourage you to make additional payments to save on interest.

If you have credit available on your loan, you can access it by visiting a store, or by signing into your account online.

Contact Speedy Cash to let them know if you are experiencing financial hardship. In most cases, we’ll be willing to work with you to make alternate payment arrangements.

Not at all! As long as you’re in good standing, you can continue to withdraw from your available Line of Credit as you please.

Possibly, depending on a number of factors. Namely, the state in which you reside and our corresponding products offered. In some states, we only offer Lines of Credit. We also consider your current income, your ability to repay and credit score. For more information, contact your local store or call Customer Service at 1-888-333-1360.

We are sympathetic to those with bad credit and understand the challenge of managing finances with a bad credit score. Based on your income and ability to repay the loan, you may still qualify for a Line of Credit in spite of bad credit.

A credit limit - credit line - is the amount that you're approved to borrow. For example, if you're approved to borrow $750 then $750 is the maximum amount that you can withdraw.

Payments include a percentage of your principal balance, plus the accrued interest. Daily interest will be charged on the amount you borrow. You can choose to pay off your balance at any time – putting you in control of the amount of interest you pay. See your state's Rates and Terms page for examples of loan amounts with calculated APR and payments.