Personal line of credit

Funds you can use whenever you choose.

When life happens, you’re covered with a personal line of credit. U.S. Bank clients with a FICO® Score of 680 or above and other qualifying factors could receive funds within hours.

Check your rate & apply.

Do you have a personal checking account with us?

To qualify for a personal line of credit, you need to have an existing U.S. Bank checking account.

Choose yes or no to indicate whether or not you have a U.S. Bank personal checking account.

Personal line of credit details and benefits

Instant, ongoing funds for your goals

If you’re a current U.S. Bank client but have a FICO Score of 680 or above, a personal line of credit could be right for you.

Use your personal line of credit up to $25,0001 for ongoing access to available funds or if you don’t know the full cost of a project. You’ll only pay interest on the money you borrow, making it a great funding option for whatever life throws your way.

What are the pros and cons of a personal line of credit?

A personal line of credit can be a flexible way to help you reach your goals – especially if you aren’t sure exactly when you might need the money. But they generally require that you have good credit.

Consider these factors:

As low as 12.50% APR1

You’ll pay no annual fee with a competitive variable rate that currently ranges between 12.50% to 22.50% annual percentage rate (APR). And you’ll pay the same APR for advances, balance transfers and purchases. A credit score of 800 or greater is required for the lowest APR in the range.

Higher interest rates

A personal line of credit may come with a higher interest rate than similar products like a term loan or a credit card.

No collateral required

A personal line of credit is unsecured, meaning you don’t need to put up collateral like your car or house.

Variable rates that may change

A personal line of credit carries a variable interest rate that accrues on the money your borrow. A variable interest is an interest rate that might change, according to the terms of your contract.

Easy access to funds and overdraft protection

Get convenient access to your loan funds with a Visa® Access Card, Personal Line Access Checks, at an ATM, online, mobile or in a branch.1 You can also have the money deposited into your checking account or set up your line of credit as overdraft protection for your checking account.

Fees on certain transactions1

Most personal lines of credit have associated fees like a transaction fee which is charged when you access funds in advance.

Uses for a personal line of credit

Why a personal line of credit may be right for you

You can use a personal line of credit to help cover the cost of home improvements, pay off debt or simply take care of unexpected expenses.

Consolidate or pay off debt.

Consider using a line of credit to help you find relief from credit card balances and other high-interest debt. You can use the funds to pay off a variety of bills and help manage payments at a competitive rate.

Finance a home project.

A line of credit can be a great option to use if you want to remodel your house or fix issues around the home.

Cover emergency expenses.

When the unexpected happens, having easy access to a personal line of credit makes it a great option to have in your back pocket.

How to apply for a personal line of credit

You can apply in 3 easy steps.

Step 1: Check your rate

If you’re a U.S. Bank personal checking account client, you can check your personalized rates. We’ll use some information about you to do a soft credit check, which will not affect your credit score.

Step 2: Apply.

When you’re ready to apply, you’ll need:

  • Social Security number (SSN)
  • Home address and employment information

You can apply with another person if they're a U.S. Bank customer or an employee and live within the U.S. Bank service area or have a military address (FPO/APO). We may consider their income, credit background and whether they are a U.S. Bank customer. This may affect your interest rate or line of credit amount.

Step 3: Close on your line of credit.

Once you submit your application, U.S. Bank will request a full credit report, which may affect your credit score.

If approved, you may close on your line of credit online, though some customers may need to visit a U.S. Bank branch. Funds are available within one business day of closing.

Personal line of credit FAQ

Credit resources

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How to pay off credit card debt.

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What is a good credit score?

Know what to expect before applying for a loan or line of credit.

How to build and maintain a good credit score.

Follow these 5 steps to practice good credit habits.

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  1. Personal line of credit: The annual percentage rate (APR) is variable and is based upon an index plus a margin. The APR will vary with Prime Rate (the index) as published in the Wall Street Journal. As of July 28, 2023, the variable unsecured personal line of credit APR ranged from 12.50% to 22.50% APR and the margin varied based on credit score. The lowest APR in the range requires a credit score of 800 or greater. Cash Advance ATM fee: 4% of each advance amount, $10 minimum. Cash Equivalent fee: 4% of each cash equivalent amount, $10 minimum. The annual fee is $0. Foreign Transaction fee: 3% of each foreign purchase transaction or foreign ATM advance transaction in a Foreign Currency. Subject to credit approval, eligibility and credit qualifications. Personal Line of Credit may be reduced or additional extensions of credit limited if certain circumstances occur. Approval for personal line of credit requires having a new or existing U.S. Bank personal checking account. Your Deposit Account Agreement and the Consumer Pricing Information disclosure list terms, conditions, and fees that apply to U.S. Bank personal checking accounts. You may obtain a copy of the disclosure by visiting a branch or calling 800-872-2657.

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Loans and lines of credit are offered by U.S. Bank National Association. Deposit products are offered by U.S. Bank National Association. Member FDIC.