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SunTrust lines of credit review

Revolving credit ranging from $25,000 to $500,000+ through this well-known bank.

Unlike other banks, SunTrust doesn’t offer a suite of personal loans. But it does extend high-dollar lines of credit to qualified account holders. These lines of credit could be a flexible solution to financing big purchases or consolidating your debt, but you’ll need to have the assets if you want to borrow a large amount.


Min. Loan Amount$25,000
Max. Loan Amount$500,000
APR4.99% to 15.99%
Interest Rate TypeVariable
Min. Credit ScoreVaries
Loan TermUp to 4 years

What lines of credit does SunTrust offer?

SunTrust has two options for its borrowers: the Personal Credit Line Plus and the Select Credit Line. Your interest rate is variable based on the Wall Street Journal prime rate plus a margin that depends on your line and overall creditworthiness. SunTrust also offers a handy online calculator so you can see how much it can take to pay off your line of credit.

  • Personal Credit Line Plus. Personal Credit Line Plus is unsecured – meaning you won’t have to put up collateral. You can borrow between $25,000 to $500,000. APR is variable, with rates between 4.99% to 15.99% .
  • Select Credit Line. A SunTrust Select Credit Line is a secured option that allows you to borrow between $25,000 to $5 million. These have a variable-rate APR starting from 3.75%.

You can keep your line of credit open for up to four years. After that, you're responsible for paying the full balance you owe. Your specific payback terms depend on your contract.

What makes SunTrust lines of credit unique?

Unlike many lines of credit that limit how much you can borrow for personal purposes, SunTrust's options go up to $5 million for qualified borrowers. But it has its own drawbacks: You need to have nearly perfect credit to qualify for this amount, and you'll have to have the assets to back it up.
Interested in a personal loan? LightStream is a division of Truist

SunTrust is now Truist

SunTrust and BB&T have merged. Currently, both banks are in the process of transitioning to their new name: Truist. But while this merger makes Truist the sixth largest bank in the US, not everything is set up yet. When you apply for a line of credit, your lender will still be SunTrust. Keep an eye out, though. Truist may update its line of credit criteria and terms as the merger progresses.

What are the benefits of a SunTrust personal line of credit?

  • Flexible security options. SunTrust doesn't require collateral for a line of credit, though you'll see lower rates with it.
  • Rate discount available. Set up automatic deductions from a SunTrust checking, savings or money market account to qualify for a 0.25% rate reduction.
  • Limited fees. SunTrust doesn't charge an application or annual fee, saving you money and reducing your total APR.
  • Revolving credit. SunTrust's line of credit options are revolving — meaning you can continue borrowing as you pay back your outstanding balance.

Are there any drawbacks?

  • High minimums. Both lines of credit start at a high $25,000 If you need less, look elsewhere.
  • Requires $100,000 in investments. If you opt for a secured loan, you need an investment account of at least $100,000. Even unsecured loans require proof of $100,000 in investments.
  • Variable interest. Like most lines of credit, your interest rate is variable and based on the prime rate published by the Wall Street Journal.
  • Limited availability. Lines of credit are available in Alabama, Arkansas, Washington DC, Florida, Georgia, Maryland, Mississippi, North Carolina, South Carolina, Tennessee, Virginia and West Virginia only.

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What does the Internet say about SunTrust?

SunTrust is accredited by the Better Business Bureau, where it earns an A+ rating. As of August 2018, however, it has over 50 customer reviews — 95% of which are negative — and nearly 1,000 complaints filed against it. Other consumer review websites give it negative ratings, but few are about SunTrust's credit lines.

Because you'll work with a local branch, search for reviews from current and former customers regarding the services provided in your location. It might provide a more accurate picture of the type of people you'll deal with daily.

Am I eligible?

To apply for a SunTrust line of credit:

  • You must have at least $100,000 of investments in a verifiable bank account
  • You must live in one of SunTrust's serviced states

How do I apply?

Gather basic personal information, including your current employment and financial assets, and visit SunTrust's website to begin:

  1. Navigate to the Personal Lines of Credit Page. Select Apply Now.
  2. Select your state and confirm that you have $100,000 in assets.
  3. Enter a promo code, if you have one, and your SunTrust account information.
  4. Enter information about yourself, including your contact details and annual income.
  5. Enter your financial information, including your assets and recent debts.
  6. Enter your requested loan amount and any debts you're paying off.
  7. Select enrollment in automatic payments.
  8. Review and submit your application.

SunTrust assigns an ID to your application that you can use to track the progress of your line of credit approval.

What happens after I'm approved for a line of credit?

If you're approved for a line of credit, you can begin to withdraw your funds. Both of SunTrust's options are revolving, which means you can continually borrow money during the draw period once you've repaid an outstanding balance.

Each month, you can choose a minimum repayment or pay interest plus the principal. The minimum payment covers interest only, leaving you responsible for repaying your full loan after your term ends.

Late fees differ by contract, so when negotiating terms, make sure you know exactly how much you face for payments received after the 10-day grace period.

Bottom line

If you’re already familiar with the trusted SunTrust Bank, it could be an option for flexible secured or unsecured lines of credit to finance projects or consolidate your debt. It offers decent interest rates and large potential amounts, but you must borrow at least $25,000 — which might be too much for your needs.

Narrow down your financing options by comparing personal loans and lines of credit before applying.

Frequently asked questions

Which states does SunTrust service?

SunTrust has branches in Washington, DC and the following states:

  • Alabama
  • Arkansas
  • Florida
  • Georgia
  • Maryland
  • Mississippi
  • North Carolina
  • South Carolina
  • Tennessee
  • Virginia
  • West Virginia

Can I use a SunTrust line of credit to pay for college tuition?

Yes. A SunTrust Personal Credit Line Plus can be used for nearly any large expense, including tuition.

What's the difference between a secured and unsecured line of credit?

Just like a secured or unsecured personal loan, the difference is collateral. When you provide a lender with collateral, you’re decreasing its risk of lending to you by giving it the ability to repossess your collateral if you default. Less risk typically results in lower rates. However, you also risk losing your personal property.

Unsecured lines of credit don’t require collateral, but you may not be able to borrow as much and could end up with a less competitive interest rate.

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