Provided by CBW Bank and First Electronic Bank
Checking your eligibility has no impact on your credit score4.
If you have an outstanding principal balance, you’ll need to make Minimum Payments on a bi-weekly, semi-monthly, or monthly schedule. You’ll always see your charges and payment details in your periodic statement before they’re due.
Each Minimum Payment is made up of two components. Refer to your credit agreement, or any amendments, for your specific details.
Click each card to learn more.
See below for an example of a Billing Cycle Charge Table.
The Mandatory Principal Contribution is the portion of each Minimum Payment that goes towards paying down your principal balance. The Mandatory Principal Contribution will vary depending on your income frequency.
Each Minimum Payment includes a Billing Cycle Charge, which is determined based on your Average Daily Principal Balance for each Billing Cycle.
See below for an example of a Billing Cycle Charge Table.
Use the calculator below to help give you an idea of how much you might owe for your Minimum Payments.
This calculation is for illustrative and general information purposes only. The Minimum Payments due for each Billing Cycle will vary depending on the activity on your account.
Michael needs extra money for some unexpected home repairs and completes an application online at CreditFresh.com.
Michael is approved for a $5,000 Line of Credit and decides to request a draw of $2,025.
Since Michael receives his income on a bi-weekly basis, the Minimum Payments on his Line of Credit will also be scheduled bi-weekly.
If Michael decides to only make the Minimum Payment amount for each billing cycle, it will take him longer to pay down his balance.
| Average Daily Principal Balance | Mandatory Principal Contribution | Billing Cycle Charge | Payment Amount | Remaining Principal Balance | |
|---|---|---|---|---|---|
| Michael's 1st Minimum Payment | $2,025.00 |
$20.25 +
|
$130.00 =
|
$150.25
|
$2,004.75 |
| Michael's 2nd Minimum Payment | $2,004.75 |
$20.05 +
|
$130.00 =
|
$150.05
|
$1,984.70 |
| Michael's 3rd Minimum Payment | $1,984.70 |
$19.85 +
|
$115.00 =
|
$134.85
|
$1,964.85 |
Disclaimer: These are representative examples of the first three Minimum Payments. The examples assume Michael’s first draw is made at the start of a billing cycle, only Minimum Payments are made and no additional draws are requested on the Line of Credit. This example is for illustrative and informational purposes only. The actual Minimum Payment(s) due on your Line of Credit may vary based on individual circumstances and will depend on your individual account activity. Making additional payments whenever possible may help reduce the charges you pay.
If Michael were to pay an additional amount on top of the minimum payment amount for each of the first 10 payments, he would see his remaining principal balance decrease faster, and in turn, the amount he would pay in Billing Cycle Charges would also decrease faster, lowering his overall cost of credit. Compare Michael’s payments where he paid only the minimum amount versus if Michael had paid $50 extra on each scheduled payment. You can see how making extra payments reduced his principal balance and associated Billing Cycle Charges compared to only making Minimum Payments. This example assumes Michael doesn’t take any additional draws during this time.
Principal Balance After 10 Minimum Payments
Save 11.4% in fees
Principal Balance After 10 Minimum Payments
Save 11.4% in charges
Principal Balance After 10 Minimum Payments
Principal Balance After 10 Minimum Payments
Save 11.4% in charges
There are no penalties for making larger or additional payments. In fact, as in Michael’s case, it may help reduce your principal balance and also decrease the amount you will pay in Billing Cycle Charges over time, subject to your individual account activity.
There are no penalties for making larger or additional payments. In fact, as in Michael’s case, it may help reduce your principal balance and also decrease the amount you will pay in Billing Cycle Charges over time, subject to your individual account activity.
Each Minimum Payment includes a Billing Cycle Charge and a Mandatory Principal Contribution. Billing Cycle Charges are based on your .
Your credit agreement, or any amendments, will indicate the specific Billing Cycle Charges applicable to your Line of Credit. Refer to your online account for details.
Note that Billing Cycle Charges may vary based on your individual qualifications*.
| "Average Daily Principal Balance" on your periodic statement: | Receive income weekly, bi-weekly or semi-monthly, your Billing Cycle Charge: | Receive income monthly, your Billing Cycle Charge: |
| $0.01 - $10.00 | $5.00 | $10.00 |
| $10.01 - $250.00 | $15.00 | $30.00 |
| $250.01 - $500.00 | $30.00 | $60.00 |
| $500.01 - $750.00 | $38.00 | $80.00 |
| $750.01 - $1,000.00 | $55.00 | $119.00 |
| $1,000.01 - $1,250.00 | $70.00 | $151.00 |
| $1,250.01 - $1,500.00 | $85.00 | $184.00 |
| $1,500.01 - $1,750.00 | $100.00 | $216.00 |
| $1,750.01 - $2,000.00 | $115.00 | $249.00 |
| $2,000.01 - $2,250.00 | $130.00 | $281.00 |
| $2,250.01 - $2,500.00 | $144.00 | $300.00 |
| $2,500.01 - $2,750.00 | $160.00 | $337.00 |
| $2,750.01 - $3,000.00 | $172.00 | $362.00 |
| $3,000.01 - $3,250.00 | $186.00 | $400.00 |
| $3,250.01 - $3,500.00 | $200.00 | $433.00 |
| $3,500.01 - $3,750.00 | $214.00 | $463.00 |
| $3,750.01 - $4,000.00 | $228.00 | $494.00 |
| $4,000.01 - $4,250.00 | $242.00 | $524.00 |
| $4,250.01 - $4,500.00 | $256.00 | $554.00 |
| $4,500.01 - $4,750.00 | $270.00 | $585.00 |
| $4,750.01 - $5,000.00 | $283.00 | $613.00 |
* You will receive a notice explaining how your credit profile may impact the cost of your Line of Credit.
Checking your eligibility has no impact on your credit score4.
Lines of Credit through CreditFresh are provided by CBW Bank and First Electronic Bank, both banks with a focus on security and trust.
Each Line of Credit is serviced by CreditFresh, a trusted financial technology company that has serviced over 400,000 lines of credit, helping people across the U.S. move forward responsibly.
Our bank partners consider the bigger picture, not just your credit score. Even those with less-than-perfect credit may still qualify.
No, checking eligibility will not impact your credit score with the major credit bureaus. If your application for credit is approved, your account activity may be reported to TransUnion.
You’ll just need to provide basic personal information and banking details so we can verify your identity and confirm your income. The process can be completed online.
If we need more information to finish your application and we can't confirm certain details online or over the phone, we may ask for certain documents to help us verify your info.
Some examples of what we might ask for are:
Any documents you share—like bank statements or pay stubs—need to be less than 30 days old.
If you're sending ID, make sure it's not expired.
Protecting your information is a top priority. We work with trusted third-party providers like Flinks and DecisionLogic that use bank-level encryption and strict security standards.
This allows us to review your application securely while ensuring your information is private and protected.