How Does a Line of Credit Loan Work?

Being short on cash is never an ideal situation – that’s why 360 ExpressMoney offers quick loans in the form of a personal line of credit. Unlike typical payday loans and installment loans, line of credit loans give you the freedom to borrow what you need, when you need it. Borrow only what you need now, paying interest only on the amount you actually borrow. You decide whether to pay the minimum amount due on your due date, or to make larger payments to reduce your balance more quickly. As you make payments, you can take out additional cash advances (up to your approved credit limit), giving you control over how and when you use your funds. Should you choose, we will even keep your line of credit open with a zero balance for up to one year.

Paying more than the minimum payment is encouraged so that you pay less in interest charges. As a 360ExpressMoney Customer, you will never be penalized for paying off early. Once your balance is paid in full, we will even keep your line of credit open, so that you can get more cash in the future if you should need it

How much money can I borrow with a line of credit?

The maximum amount you can borrow from 360ExpressMoney depends on a variety of factors including your monthly income, credit score, and maximum loan amount available in your state. To see the maximum amount available in your state, view your state’s loan page.

When applying for a line of credit loan from Speedy Cash,

you will need the following to get started:

  • Form of Identification
  • Steady source of income
  • Active checking account

    When will i receive my funds?

    Whether you visit a 360ExpressMoney store or decide to apply online, you have the option to get cash in your hands the same day you apply, and in some cases, even instantly! Here is a breakdown of how long you can expect your loan process to take:

    Apply at a 360ExpressMoney Store – Simply apply for a loan, providing documentation of your age, identity, income and checking account. You could be approved for a loan on the spot – often in just 10 minutes or less. Upon approval, you will receive your cash right away.
    Apply Online – Complete your loan application in a matter of minutes. Upon submitting your application, we will provide you with an instant lending decision. If approved, you can select how you would like to receive your loan funds – which can change how long it will take to receive your funds.
    Instant Funding to Opt+: Have your funds instantly loaded to your opt+ Visa card (subject to system limitations). This is the fastest funding option available.
    Cash at Store Pickup: If you live near a Speedy Cash store, then you can choose to pick up your cash there. Your cash will be available for immediate pick up.
    Direct Deposit: If you choose to have your funds direct deposited to your bank account, you will typically receive your funds by the next business day.

    When will my payment be due?

    Your first loan payment will be due on your next pay date that is at least 16 days in the future. Payments include a percentage of the loan’s principal balance, plus the accrued interest.

    How much will my loan  payments be ?

    Daily interest will be charged on the amount you borrow, but you only have to pay interest for the time you borrow the money. And you can choose to pay off your balance at any time — putting you in control of the amount you pay.

    How can I access my available credit?

    A: Need more cash? As you pay down your loan, you can immediately receive more cash up to your credit limit. You can access your available credit by signing into your account online or via the Speedy Cash app, or by visiting a Speedy Cash location

    What happened if  I can’t make my scheduled loan payment ?

    360ExpressMoney  encourages all of our customers to only borrow what they can afford to pay back on their next pay date. However, we understand that emergencies happen. If you are unable to repay your loan, give us a call or pop into a store. We may be able to change your due date or work out an alternate payment plan.