MoneyKey line of credit review

A MoneyKey line of credit could get you the money you need, when you need it, while offering more flexibility than a payday loan.

MoneyKey is one of the fastest growing online financial service providers in the US servicing several states by offering installment loans, payday loans or lines of credit depending on your state of residence. The application process is simple and, if approved, funds may be deposited into your account in as early as the next business day.

A MoneyKey line of credit is an open-ended extension of credit for up to $1,000. If you’re approved, you’ll be assigned a credit limit, which is the maximum amount of money that you are able to borrow under that product. This means that after opening your account, you can withdraw up to the full amount of your credit limit.

MoneyKey lines of credit are available in Kansas and Missouri only.
Min Loan AmountVaries by state
Max. Loan Amount$1,000
Loan TermRevolving
Turnaround Time1 business day*
CostsVaries by state of residency
RequirementsYou must be a permanent US resident or citizen, at least 18 years old, and have regular income.

Pros

  • Convenient application process.
  • Highly trained customer care representatives available by phone, email or online chat.
  • Log in online to see your account summary.
  • Flexibility to withdraw funds up to your approved Credit Limit.
  • Next business day funding, depending on your bank's policies.

Cons

  • MoneyKey’s line of credit is only offered in two states: Kansas and Missouri.

*The date and time the funds are made available to you by your bank is subject to your bank’s policies.

What are the benefits of a MoneyKey line of credit?

  • Line of credit term is not fixed. You can borrow any amount up to your available credit limit. When you pay down the principal of your line of credit, you can continue to access the remaining credit available up to your credit limit.
  • Simple process. Applying for a line of credit with MoneyKey is easy. You will find out if you qualify within minutes of applying. If you are approved, you can have the funds deposited into your bank account in as soon as one business day.
  • Check progress online. Viewing the status of your line of credit online is easy. Simply head to MoneyKey’s website and login to see your online account summary. From here you can keep track of your past payments and upcoming due dates.

What are the fees charged?

MoneyKey’s fees are compliant with all applicable federal and state regulations. Upon approval, you will receive a line of credit agreement which will clearly outline the terms of the product. Before you sign the agreement, make sure you understand the cost of your line of credit, your pre-payment options, and review your terms of payment.

Is borrowing credit from MoneyKey secure?

MoneyKey only offers Installment Loans, Payday Loans and Lines of Credit in states where they are licensed to do so. MoneyKey is subject to different rates and regulations in the various states it operates in and all products are designed to comply with applicable law. MoneyKey’s website has Secure Socket Layer (SSL) encryption and Verified Site Certificates to protect your personal information and keep your data secure.

How does a MoneyKey line of credit compare to similar credit products?

Rates last updated December 13th, 2017
Unfortunately, none of the short term loan providers currently offer loans in your state. Learn more about short term loans in your state to find an alternative.
Name Product Product Description Maximum Loan Amount Term of Loan Turnaround Time Requirements
LendUp Payday Loans
LendUp offers $250 loans for first-time borrowers. Good credit is not required. Visit the site to see if available in your state.
$250
7–30 days
generally receive the money the next business day
Be 18+ years of age and have a checking account that can accept electronic transfers.
CashNetUSA Loan
Apply for a short-term loan with an easy online application and dedicated customer service.
Varies by state
Varies by state
1 business day
You must be a US citizen or permanent resident, be at least 18 years old and have regular income and a bank account.
Check into Cash Payday Loan
With 1,000 branches in 30 states, get $50 to $1,000 in days from this direct lender.
$1,000
Varies by state
1–2 business days
You must be at least 21 and an American citizen and have a bank account, email address and phone number.
ACE Cash Express Payday Loans
Quick short term, installment and title loans come with no prepayment penalty and a 72-hour satisfaction guarantee.
Varies by state
Varies by state
Generally receive the money the next business day
Must be 18+ years old, have a steady source of income and a checking or savings account. Must not be a debtor in bankruptcy.

Compare up to 4 providers

Am I eligible for a MoneyKey line of credit?

Getting a line of credit through MoneyKey can be a more convenient way to get the money you need compared to other short-term loans.
To be eligible, you must:

  • Be 18 years or older and a US citizen or permanent resident.
  • Reside in Kansas or Missouri.
  • Have a valid bank account.
  • Have a phone number and a valid email address.
  • Be able to prove you have a steady source of income.

What information do I need to apply for a MoneyKey line of credit?

  • Personal information. This includes your complete name, address, home phone number, and email address.
  • Banking information. This includes your bank’s name, account type, account number, and routing number.
  • Employment information. This includes the name of your employer, your monthly income, your last pay date and your next pay date.

I am approved for a MoneyKey line of credit. Now what?

  • Use funds wisely. Once your line of credit is approved, spend the funds carefully and use only the money you need.
  • Draw up to your approved credit limit. You can access any remaining credit available up to your approved credit limit. That means that if you pay down the principal balance of your line of credit, you can choose to make additional withdrawals at a future point in time up to the remaining credit available in your line of credit.
  • Pay more when possible. Call MoneyKey’s customer care team to make additional payments or to pay off the outstanding balance.
  • Contact customer care. Call MoneyKey’s customer care team or log in to your account to confirm your line of credit balance.

Frequently asked questions

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