No one in Alaska is safe from the occasional emergency expense, and dealing with one is rarely easy. With that in mind, if you DO need some financial help when you’re faced with a financial emergency, an online line of credit could be what you need to get you through a tough situation!
Having said that, it’s important to understand what constitutes an emergency, and what doesn’t. Emergency situations could include:
Some instances that don’t count as emergency situations could be things like shopping trips, vacations, and regular expenses. If you’re looking to submit a request through CreditFresh, click here to get started!
$500 to $5,000.
You have the option to withdraw available funds all at once, or in smaller amounts from your available credit, as needed, so long as your account is in good standing. If you request a draw, funds may be deposited into your bank account the same business day3.
If you have an outstanding balance, you will be required to make a Minimum Payment for each Billing Cycle.
You will be issued a periodic statement at least 14 days before your Minimum Payment is due for your Line of Credit. Your periodic statement will include important details such as your Minimum Payment and your Payment Due Date.
Your Minimum Payment will be made up of two components:
You can always make payments towards your Outstanding Principal Balance at any time without prepayment penalties. You may log into your account to make a payment online using a debit or pre-paid card or call 1-800-766-2007 to set up a payment.
For each billing cycle, you will only be charged a Billing Cycle Charge if you have an Outstanding Principal Balance. You can find this information in your periodic statement. A portion of each Minimum Payment goes directly to your principal balance to ensure you are always paying down your balance.
For further details, visit the Cost of Credit page.
In order to qualify for an online loan through CreditFresh, you must:
Please note that currently, no credit products offered through CreditFresh have charges that would meet the requirements applicable to lend to covered members of the US Armed Forces and their dependents.
Yes, online loans are currently offered through CreditFresh in the form of a Line of Credit in Alabama, Arizona, Arkansas, Delaware, Florida, Hawaii, Idaho, Indiana, Kansas, Kentucky, Louisiana, Michigan, Mississippi, Missouri, Nebraska, Ohio, Oklahoma, South Carolina, Tennessee, Texas, Utah, Washington, and Wisconsin in addition to Alaska.
One of the key things to remember about emergencies is that it’s generally a good idea to take care of the fallout right away. If you don’t, things can get a little trickier to deal with, and sometimes more expensive. So, when it comes to requesting an online line of credit to help you deal with the associated expenses of an emergency, the time it takes for the money you draw to enter your bank account – assuming you’re approved for a line of credit in the first place – is going to be important information to know.
At CreditFresh, we get how important it is to get your money promptly. That’s why, when you request a draw from your personal Line of Credit online or over the phone, funds may be in your bank account the same business day3!
All personal loans aren’t created equal, so it’s important to understand their differences and similarities in order to know which ones may be suited to your situation.
When it comes to installment loans and lines of credit, this definitely applies. While they can both be useful borrowing options when you’re facing an emergency, they work differently. For starters, installment loans provide you with funds in a lump sum. You’ll need to repay what you’ve borrowed by meeting a number of scheduled payments that take place over several months or years.
A line of credit will provide you with a credit limit to draw funds from. If you have available credit and your account is in good standing, you can submit a request for money. As you pay down what you owe, you can continue to draw funds on a revolving basis. If you want to learn more about other online loans, click here.
Dealing with an emergency expense isn’t easy, but if you think that this Line of Credit is suited to your needs, or you’d like additional information on the process of requesting an online loan in Alaska through CreditFresh, feel free to contact our Customer Service team at 1-800-766-2007. You can also find more information by visiting our general FAQs page.