Preferred Credit Line
Flexible credit that's there when you need it.
- Use your credit line as needed and only pay interest on the amount you use.
- Save on interest with rates lower than typical credit cards.
- Borrow up to your line amount, repay, and borrow again.
- Easily access your funds in online and mobile banking.1,2
Overview
| Annual Fee |
$0 |
|---|---|
| Collateral Needed |
No |
| Line Amount | $500 to $25,000 |
| Minimum Monthly Payment | 1/120th of balance, or $50, whichever is greater |
| Interest Rate | Variable |
Use your credit line for what you need when you need it.
From car repairs or new appliances to dream-worthy trips, you’re covered.
Be ready for home updates, renovations, even new additions.
Be prepared for whatever comes your way.
Use it for overdraft protection on your KeyBank checking account.
Apply for a Preferred Credit Line
Visit us to talk to a banker and get started today.
Frequently Asked Questions About KeyBank Preferred Credit Line
Get answers to the most frequently asked questions about credit loan lines.
A preferred credit line is a flexible funding option that allows you to borrow money as needed, up to a pre-approved limit, and only pay interest on the amount you actually use.
On the other hand, a loan provides a lump sum of money and is repaid in fixed installments over a set period.
To apply, you must:
- Be 18 years of age or older
- Have a valid Social Security number
- Live within the following states: AK, CO, CT, ID, IN, MA, ME, MI, NY, OH, OR, PA, UT, VT, or WA
- Agree to provide additional personal and business information, if requested, such as tax returns and financial statements
- Certify that all information submitted in the application is true and correct
- Authorize the bank and/or a credit bureau to investigate the information on the application
The preferred credit line offers variable Annual Percentage Rates (APR). For more information on interest rates, interest charges, fees, and credit line amounts, visit Current Preferred Credit Line Rates & Fees.
Details about your account can be found in your monthly statement, in online and mobile banking, by calling 1-800-KEY2YOU® (1-800-539-2968 or dial 771 for TTY/TRS), or visiting a branch.
Your credit limit is the maximum amount of credit you can have outstanding on your credit line. KeyBank may choose to approve or deny a credit request that would cause your preferred credit line to go over its limit. If your preferred credit line exceeds its limit at any time, you must immediately pay the excess amount, or it may be included as part of your next minimum payment amount. KeyBank may increase or decrease the credit limit at any time, for any reason, as permitted by law.
All credit products are subject to credit approval.
Subject to terms and conditions in Service Agreement.
Messages and data rates may apply from your wireless carrier.
Your credit line may not be used for overdraft protection on a KeyBank Hassle-Free Account® or KeyBank Savings Account.
