Deciding which line of credit loan to take can be tricky, particularly if your circumstances aren’t as straightforward as you would like them to be. Add this to the plethora of loan types and providers available, and this task can suddenly seem overwhelming. This review will take the worry and guesswork out of a personal line of credit and help you make the best decision. 

Best Credit Line Options 2022 – Quick Overview 

  1. Viva Payday Loans – Best for Personal Line of Credit
  2. Low Credit Finance – Best for Bad Credit Line of Credit 
  3. Heart Paydays – Best for Quick Payday Line of Credit
  4. Big Buck Loans – Best for No Credit Check Line of Credit Loans
  5. Credit Clock – Best for Same Day Personal Line of Credit 

Best Personal Line of Credit Loans in 2022 

All Americans can benefit from a line of credit loan, regardless of their circumstances or financial needs. From revolving line of credit to bad credit line of credit or personal line of credit, these top 5 loan finders can easily connect you with lenders that provide the line of credit you need. 

 1. Viva Payday Loans – Best for Personal Line of Credit

Viva Payday Loans scores our top editor’s pick as one of the best personal line of credit providers. Borrowers can expect affordable interest rates ranging from 5.99% to a maximum of 35.99%, coupled with flexible payment terms. Another fantastic attribute is their online application process which is super sleek, fast, and user-friendly. Borrowers can select an affordable loan value of between $100 and $5,000, and loan payments are typically paid out on the day. 

When applying for a line of credit via the Viva Payday Loans website, click on the ‘Apply’ button to be connected with lenders offering a suitable line of credit loan. Approval usually takes approximately two minutes, and the funds are paid into your chosen bank account once acceptance is confirmed. 

Eligibility Criteria Personal Line of Credit

  • 18 years or older
  • $1000 minimum income 
  • Permanent, legal US residency

Pros of Revolving Line of Credit

  • Uncomplicated eligibility criteria
  • Same-day line of credit disbursements  
  • Flexible repayment terms

Cons of Revolving Line of Credit

  • It can be a costly form of finance

Click here to request funds now >

2. Low Credit Finance – Best For Bad Credit Line of Credit

If you’re shopping for a bad credit line of credit, you may come out empty handed. That said, the loans via loan providers on the Low Credit Finance website offer flexible and affordable loan options that are excellent alternatives. Borrowers can choose to loan from $100 to $5,000, with APR rates of 5.99% up to 35.99%. In addition, repayment terms are set by the borrower to allow for greater affordability, ranging from 3 to 24 months.

Criteria for bad credit line of credit loans with Low Credit Finance stipulate that applicants must meet the legal age limit of 18 years old or older and have a regular income of at least $1,000 each month. Low Credit Finance links borrowers directly with lenders to complete the loan application process.

Eligibility Criteria for Bad Credit Line of Credit

  • USA residency or citizenship
  • Earn $1,000 per month 
  • Must meet the legal age limit of 18 years 
  • Have an active mobile number and bank account

Pros of Bad Credit Line of Credit

  • Flexible and affordable loan values
  • Easy payment terms 
  • Boosts credit score 

Cons of Bad Credit Line of Credit

  • Poor credit ratings may cause the loan application to be rejected

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3. Heart Paydays – Best for Quick Payday Line of Credit

Borrowers needing a line of credit in a flash will appreciate loan providers via the Heart Paydays website. Heart Paydays loan providers focus on processing payday line of credit loans for borrowers quickly and efficiently. As a result, applicants can expect their loan amounts paid into their chosen bank account within the hour. Once the loan is approved, payment is made in as little as 15 minutes! 

Borrowers also benefit from flexible loan values of between $100 and $5,000 and affordable interest rates of 5.99% and 35.99%. In addition, borrowers can enjoy easy repayment terms of their choosing, ranging from 3 to 24 months.

Eligibility Criteria for Line of Credit Online

  • Permanent US residency 
  • 18 years or older 
  • Minimum income of $1,000 monthly
  • Active bank account and working mobile number

Pros of Personal Line of Credit

  • Fast disbursement within 15 minutes of approval
  • Repayment terms set to suit borrowers’ affordability
  • Affordable loan values and APR rates

Cons of Personal Line of Credit

  • Some loans attract high APR rates.

Click here to request funds now >

4. Big Buck Loans – Best for No Credit Check Line of Credit Loans

Big Buck Loans links borrowers seeking line of credit loans with lenders offering fast cash solutions. These lenders offer flexible repayment terms of 2 to 24 months and affordable interest rates of 5.99% to 35.99%. 

As an unemployed borrower needing a line of credit loan, you can still apply for the funds you need. However, lenders will require proof of alternative income such as savings, investments, rental, dividends, trusts, or pensions. Note the minimum income required is $1,000 per month. 

Eligibility Criteria For Line of Credit Loan

  • Permanent US residency
  • Applicants must be 18 years/older
  • Pass an affordability assessment
  • Minimum income of $1,000 per month even if unemployed

Pros of Revolving Line of Credit

  • Quick, straightforward application process
  • Fast line of credit disbursements 
  • Unemployed borrowers welcome

Cons of Bad Credit Line of Credit

  • Not all loans are approved.

Click here to request funds now >

5. Credit Clock – Best for Same Day Personal Line of Credit

Borrowers looking for fast same-day personal line of credit loans via lenders on the Credit Clock website can expect excellent loan options. Lenders on the website typically offer affordable loan values from as little as $100 up to $5,000. APR rates range from 5.99% to 35.99%, depending on borrowers’ circumstances and the lender chosen. In addition, borrowers can repay their line of credit loan over 3 to 24 months, depending on what suits their needs and budget. 

Lending criteria for this type of line of credit include a minimum age requirement of 18 years and a regular income of $1,000 or more per month. 

Eligibility Criteria for Line of Credit Online

  • Minimum monthly income required $1,000
  • Permanent US resident 
  • Applicants must be 18 years or older

Pros of Fast Line of Credit

  • Affordable loans and APR rates 
  • Easy application process
  • Quick same-day payments 

Cons of Personal Line of Credit

  • Not the cheapest borrowing option.

Click here to request funds now >

What Are Lines of Credit & How Do They Work?

Lines of credit loans are quick cash loans for when funds are needed fast. The loan application process is completed entirely online in the comfort of your own home. Approval is swift, and disbursement is generally on the same day. 

Lines of credit loans are useful for unexpected bills or expenses such as car or boiler repairs and medical bills. They are usually repaid over a few weeks or over 2 to 24 months. 

Borrowers can apply for a line of credit loan using a loan finder site such as Viva Payday Loans and completing the online form. After a few minutes, they are connected to probable lenders. Once the agreement is signed and supporting documentation is received, the loan is approved and paid into the borrower’s bank account. 

How To Apply for a Line of Credit In Four Quick Steps

Step 1: Select Your Loan Value 

Using the slider on the website, select the loan amount and repayment term you require. 

Step 2: Fill in the Application Form

Every loan-finder site has a standard application form located on the top right-hand side of your computer/tablet screen. Click on it and follow the prompts. 

Step 3: Wait a Few Minutes for a Decision

Loan application decisions for a line of credit loan take approximately two minutes.

Step 4: Receive Your Loan

Once you have read and understood the loan agreement and its terms and conditions, sign it and return it to the lender. Payment can be expected on the same or the next working day at the very latest. 

Lines of Credit Features & Factors To Consider

Possible Credit Checks

Applying for a bad credit line of credit does not mean lenders won’t look at your credit score; most lenders do before approving a loan. However, some lenders may conduct a soft check rather than a hard one which can impact your credit score. 

Cost And Affordability

Before applying for a line of credit, it’s a good idea to compare your income to your expenses. This will provide a clear picture of whether you can afford to repay the loan. Missed loan repayments incur penalty fees and impact your credit score. 

Use Loan Finder Sites 

Applying for a line of credit loan with multiple lenders can negatively impact your credit score as each of them will conduct a credit check. A loan finder site puts you in touch with a large pool of lenders which negates the need for multiple credit checks. 

How Did We Choose The Best Line of Credit Loan Providers?

We used the following criteria when choosing the best line of credit loan providers:

  • Quick and straightforward online application process
  • Same day disbursements 
  • Easy repayment terms with up to 24 months to pay
  • Capped maximum APR rates of up to 35.99%
  • Realistic eligibility requirements

Conclusion

The best line of credit loan providers have three main attributes: a fast and user-friendly application form, bad credit applications welcomed, and swift loan payments. If you’re looking for an excellent financial solution to your line of credit needs, consider Viva Payday Loans, possibly the best loan provider site around! 

FAQ’s

Do Lines Of Credit Loans Affect Credit Score? 

Yes, a line of credit loan gives you access to emergency cash for unexpected bills and expenses and can improve your credit score if repayments are not missed and paid on time. However, missed payments can have the opposite effect on your credit rating.

How Do I Repay My Line of Credit Loan? 

You can set the repayment schedule between 2 to 24 months when applying for your loan. Then, depending on the APR the lender offers, the monthly loan repayment value is paid each month by direct debit (from your bank account) to the lender.

How Long Does It Take To Get A Line Of Credit Loan? 

When applying for a line of credit loan, the process is fast, and approval takes up to two minutes. Once the agreement is signed and supporting documentation is provided, payment is the same day or the next working day at the latest. 

Disclaimer: The loan websites reviewed are loan-matching services, not direct lenders, therefore, do not have direct involvement in the acceptance of your loan request. Requesting a loan with the websites does not guarantee any acceptance of a loan. This article does not provide financial advice. Please seek help from a financial advisor if you need financial assistance. Loans available to U.S residents only.

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