Truist Ready Now credit line

Loans are a one-time event—you get a lump sum of money, typically for a specific need. They come with a predetermined payment schedule, end date, and interest rate (although the interest rate could be subject to change if it’s variable instead of fixed).

A line of credit gives you a set limit you can borrow from again and again—as long as you keep paying back what you owe. Let’s say a client is approved for a $10,000 line of credit. That client draws $5,000 of their $10,000 limit, then repays the balance. They would be able to borrow up to the full $10,000 without needing to reapply, as long as it is within the draw period. This article provides more detailed insight on the differences.

Apply in person at a branch or by phone at 844-487-8478 if you have a Truist account. A Truist checking account is required for a Truist Ready Now credit line. There is no wait after opening a checking account to apply for the Truist Ready Now credit line.

Access the cash from your Truist Ready Now credit line with the Truist online banking and mobile app. You can also make cash advances at a Truist branch and ATM.

You can use your Truist Ready Now credit line for access to cash when you need it. It is most often used for short-term borrowing needs, a safety net for declines, overdrafts, and life’s unexpected expenses.

Yes. Your credit is pulled to determine eligibility for the product. Once approved, the line of credit will appear on your credit report as an open line or credit card would. Late payments are reported to credit bureaus.

2% of the outstanding balance or $10, whichever is greater.