Moneyke is a direct online lender that started in 2011 and provides borrowers access to short-term personal loans and lines of credit. The lender offers products in 16 states.
Moneyke noted that its short-term installment loan is “an expensive form of credit and is not intended to meet long-term financial needs.”
Is it a good idea to borrow from MoneyKey?
This lender offers Short term installment loan At very high interest rates. Even if you have a less-than-perfect credit, you can still qualify for a traditional personal loan. Make sure that you research all your options.
If you decide on a short-term, high-cost installment loan, your best option is to focus on paying your loan on time and paying off the loan.
Can MoneyKey be used for personal loans?
MoneyKey personal loans can be used for financial emergencies, such as medical expenses, car repairs or job losses. Loans ranging from $ 150 to $ 3,500 with quick repayment terms of five to 18 months are quick sources of cash, but are not ideal for paying for debt consolidation, investment financing, or home renovations.
The lender emphasizes that its personal loans are for short-term financial emergencies, and that borrowers should use the money wisely.
How do MoneyKey personal loans work?
If you want a MoneyKey personal loan, you can apply online in minutes or call customer service. You will provide personal information, such as your social security number, on an online application, and Moneyke will check your credit and financial history.
If you are approved for a loan, MoneyKey can usually deposit funds into your bank account as early as the next business day.
Because the loan is for short-term use, the repayment ranges from five to 18 months depending on your state. Common reasons for getting a MoneyKey personal loan include:
- Covering medical bills.
- Paying for unexpected home or auto repairs.
- Handling small emergency expenses that do not exceed $ 3,500.
Borrowers may not use the loan:
- Fund illegal activities.
- Purchase of medicines.
- Buy firearms
- Consolidating and paying off credit card debt over time.
What are the terms, fees and conditions of MoneyKey Loan?
Moneyke loan rates vary by state. If you live in Delaware, for example, your APR will vary depending on the specific details of your loan and can reach up to 295%. The APR for Idaho borrowers, on the other hand, tops 505% and is dependent on the payment schedule.
Similarly, the repayment terms vary by state. Idaho borrowers get up to 10 months and can choose to make weekly, bi-monthly, monthly or semi-monthly payments. In Delaware, the terms are about 12 months with similar payment options.
How can you qualify for a MoneyKey personal loan?
To qualify for a MoneyKey personal loan, you must be at least 18 years of age and be a citizen or permanent US resident. MoneyKey will verify that you have a bank account, a consistent source of income and a valid email address and phone number.
Moneyke does not disclose the minimum credit score for a personal loan, but the credit score carries little weight for this provider of small installment and payday loans.
What credit score do you need?
As long as you have a steady income stream, a bank account and valid contact information, you can qualify for a Moneyke loan even with poor or no credit.
Where does MoneyKey operate?
Moneyke is part of Capital Community Bank’s CC Flow division in Provo, Utah, and offers products in 16 states, but not all are available everywhere.
Check lender Service map To find out if you can get a personal loan or line of credit from Moneyke in your state.
Does MoneyKey provide good customer service?
MoneyKey is not recognized by the Better Business Bureau and has a B rating. Trustpilot gave MoneyKey 4.6 out of 5 stars.
How can you access MoneyKey’s customer service?
Moneyke provides customer service by phone, email or online chat.
Phone: Call 866-255-1668 from 9 AM to 9 PM EST Monday to Friday, 10 AM to 6 PM Saturday and 11 AM to 7 PM Sunday.
online chat: You can ask questions on Friday from 11 am to 7 pm EST Monday using the chat feature on the Moneyke website.
What are MoneyKey’s online features?
You can apply for a personal loan through the MoneyKey website or through an app called MoneyKey Mobile. The application can be used not only to apply for loans, but also to view documents, request additional loans, check the status of applications, and view payment schedules.
If you want to manage loan applications and payment processes online, MoneyKey will allow you. If you need it, you can call Customer Service for assistance, but you will not need to talk to anyone when you apply or accept a loan.