Should I choose an installment loan or a line of credit from MoneyKey?

Choose an installment loan if you need a specific amount once, like $800 for a car repair. Choose a line of credit if you need flexibility to borrow smaller amounts multiple times as emergencies arise. Remember that both have extremely high APRs, so consider alternatives first.

What's the difference between MoneyKey's line of credit and CC Flow's line of credit?

MoneyKey's own line of credit charges 292% APR and is available in Kansas and Tennessee, while the CC Flow Line of Credit charges 249% APR and is available in 17 states. Both function similarly — you draw what you need and pay interest only on your outstanding balance.

Does MoneyKey approve everyone?

No, MoneyKey doesn't approve all applicants. While it considers borrowers with poor credit, you still need to meet basic eligibility requirements, including stable income, an active bank account and residency in an eligible state.

How long does it take to get money from MoneyKey?

If approved, you can receive funds as soon as the same business day you apply, whether you choose an installment loan or a line of credit, though timing depends on when you submit your application and your bank's processing times.

Will MoneyKey help build my credit?

No. MoneyKey only reports to credit bureaus if you default on your loan or line of credit, meaning on-time payments won't improve your credit score.

Can I pay off my MoneyKey loan or line of credit early?

Yes, installment loans have no prepayment penalty. For lines of credit, you can pay down your balance at any time, and paying more than the minimum can reduce your total interest costs.