Preferred Line of Credit Info
Unlike a HELOC (Home Equity Line of Credit), KeyBank's Preferred line of credit does not require you to use your home as collateral to provide you with money. It's a variable-rate loan that you can use, pay off and reuse.
Also, you have the possibility to enable automatic payment, it has no check limit, you can manage it through mobile banking and you have operations in any branch. To get it, you only have to meet a few requirements:
- Be over 18 years old
- To attest that the information registered in the application is reliable.
- Live in: AK, CO, CT, ID, IN, MA, ME, MI, NY, OH, OR, PA, UT, VT, or WA.
- Grant approval to show additional personal information (bank balances and tax returns)
- Allow this bank or a credit bureau to make an investigation of the information given on the application.
You should know that this revolving financing includes a $50 annual fee that you can avoid by signing up for a checking account at the time of application. And if you have a checking account with this bank, you can link it to this line of credit to cover you in case of an unexpected overdraft.
We like KeyBank's Preferred line of credit because it gives you a substantial amount, doesn't ask for collateral and has flexible terms and conditions.
Despite its advantages, we can't tell you to choose it based on your first impression. You can rely on Busconomico to compare the best personal loans on the market, such as those offered by entities like Ally online bank or US Bank.
Español: Línea de crédito Preferred de KeyBank