Line of Credit Loans Frequently Asked Questions

A line of credit is a loan where you're approved for a credit limit. The credit limit is the maximum amount that you can withdraw. You can make multiple withdrawals whenever needed; the entire credit line is yours. Pay back in scheduled payments or all at once at your convenience. You will only pay interest on the amount borrowed, and the rest of the credit line is open for future use.

A line of credit works differently from a traditional loan. When applying for a personal line of credit, you use it once and are approved for the maximum amount. Withdraw money when you need it up to your approved amount. You can borrow what you need now; the rest remains available.

With a line of credit, you apply for a loan once, and we approve the amount you're eligible to withdraw. You can make multiple withdrawals up to your approved amount if you qualify. Unlike payday or installment loans, you must repay the entire loan before borrowing more money. But with a line of credit loan, as soon as you repay your loan or principal amount, you can continue to borrow up to your approved amount.

A line of credit is a good choice for borrowers still determining how much money they will need, and having an open line of credit always helps. Considering it offers more flexibility to how and when to use funds. You can use a line of credit to handle unexpected expenses in an emergency.

For over 20 years, CASH 1 has been providing hassle-free loans to people denied by traditional banks and other lenders. At CASH 1, we know you're more than just a credit score. Our streamlined approval process provides you with access to cash when needed.

Once you are ready to apply for a line of credit, click "Apply Now" at the top of the page. Keep in mind the documentation needed to use will vary by your state. Below are the easy steps you'll need to complete to apply.

Step 1: Complete the application online and provide your personal information.

Step 2: Receive your instant pre-approval amount decision in seconds.

Step 3: Decide the amount you wish to borrow (up to the maximum approved amount)

Step 4: Accept your loan and set up payments.

Step 5: Electronically sign your loan agreements.

Step 6: Receive your cash directly deposited in your bank account.

The line of credit is currently offered in Utah, Kansas, Missouri, and Idaho.

In most states, you will only need the following to apply for a line of credit:

18 Years of Age or Older

Proof of Income

Open Checking Account

Not on Active Duty in the Military

Requirements for New Customers.

Currently, we offer loan amounts/credit limits from $100 to $2,500. Approved loan amounts can vary based on your income, ability to repay, and state of residence. Please review our Rates and Terms page to learn more.

We all know life can throw lemons at you anytime. In these times, it's best to have an emergency fund to tackle unexpected expenses. Still, we all know sometimes that's not possible. A line of credit provides you with the money faster to handle it. You apply just once, and the money remains open for withdrawal anytime. You only pay interest for the money you withdraw. If you don't use it, the funds remain intact for future use.

The interest rates are specific to your state. For loans available in your state, you can view fee information here.

No, you do not need to apply again after you paid off your line of credit loan. You can use the same line of credit established initially and continue withdrawing money up to the maximum approved credit limit until your line of credit expires.

You can continue using your line of credit as often as possible if you make timely payments.

Yes, make your first three payments on time, and we will increase your credit limit by $100. The best way to increase your credit limit is to set up Auto-Pay.

With a line of credit loan, payments are due on your following pay dates, either bi-weekly or monthly. Usually, your payment(s) will be withdrawn from your checking account on your loan's due date via ACH (Automated Clearing House).

Yes, you can make a pre-payment if you have funds available. We don't charge any pre-payment penalties. Suppose you make a partial payment of the amount you have borrowed. In that case, the rest of the amount will be paid via an automatic withdrawal on the scheduled payment date via ACH (Automated Clearing House).

CASH 1 will work with you to establish payment arrangements for your line of credit loan and get you back on track. And We're committed to collecting past-due accounts professionally and legally. If you cannot pay your loan on time, please get in touch with us as soon as possible at your local store or our toll-free number.