A Line of Credit is a quick and easy way to manage shortfalls in your monthly cash flow. You can borrow as much or as little from your available credit with flexible payment options. After your first Line of Credit, whenever you have available credit you can request additional funds without the hassle of reapplying. The cash can be deposited into your existing checking account as soon as the next business day. With successful payment history, you'll be eligible for an increased credit limit.
What is required to get a Line of Credit?
Borrowers will need to be receive at least $1,000 net (after taxes and deductions) monthly, and a checking account that has been open for at least 60 days where paychecks are received via direct deposit. Borrowers also need to have an active email address and phone number. Minimum age requirements are 18 years old. All applications are subject to verification and not all applications will be approved. Additionally, not all applicants will qualify for the maximum amounts available.
How much can be borrowed?
As a first-time applicant, borrowers can receive a maximum line of credit up to $600. After a successful payment history, a customer can get a line of credit up to $1500.
How soon can a borrower access the cash? If the application is approved by 4PM EST, the funds will be electronically transferred (ACH) to the borrowers bank that day (Monday through Friday excluding bank holidays). The funds should arrive at the bank on the following Business Day. Weekend requests will be treated as though they are Monday requests, so funds requested on a Saturday will not appear in a checking account until the following Tuesday. *Note: Some banks can take two (2) days to process and transfer the funds into your account. You may wish to contact the ACH department of your bank to verify that the funds have been credited to your account. My Quick Wallet accepts neither responsibility nor liability for delays caused by an outside financial institution. What if the borrower has poor credit or has filed bankruptcy? Poor credit ratings will not affect the approval of a line of credit. That said we may not be able to extend a cash advance to those who have filed for bankruptcy within the past year or those who have filed multiple times.