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ReadyLine of Credit

Flexibility to finance whatever you need 

Get the funds, when you need them, to make a major purchase or to simply improve cash flow, with a Commerce Bank ReadyLine of Credit:

  • A revolving line of credit that provides reusable and quick access to funds so you’re ready when unexpected expenses hit.

  • No account opening, transaction or cash advance fees

  • ReadyLine of Credit FAQs

  • No collateral required

  • Lower interest rates than many credit cards – 11.99%-21.99% APR, variable1. View Important Disclosure [PDF]

  • As payments are made, the amount available on your credit line increases (up to your credit limit), giving you access to more funds.

  • Estimate your payment

Apply online

Borrow smart with our Fix-It Feature:

  • Fixed low monthly payments for 48 months on cash advances of $2,000 or more2

  • Each cash advance of $2,000 or greater has equal monthly payments calculated over 48 months, making it easier to budget each month2 (not available on lines of less than $2,000).

  • Each cash advance of less than $2,000 is part of a revolving balance with a monthly minimum payment, similar to a credit card.

Uses

  • Unsecured revolving line of credit
  • Flexibility for future cash advances

Credit limits

  • $500 to $15,000

APR & payment

Installment & revolving cash advances

  • Each cash advance of $2,000 or greater has equal monthly installment payments calculated over 48 months2
  • Each cash advance of less than $2,000 is part of a revolving balance with a minimum monthly payment, similar to a credit card
  • See how it works.

Access to funds

Fees

  • No account opening fees
  • No transaction fees
  • No cash advance fees
  • Late payment and returned payment fees do apply

Options for making payments

One of the convenient features of the ReadyLine of Credit is that you can take cash advances in any amount you need, up to your available credit limit.

The size of each cash advance determines the manner in which it is repaid. If you have a large purchase of $2,000 or greater, that cash advance will have monthly installment payments calculated over 48 months.3 Cash advances of less than $2,000 will not have a required installment payment calculated over 48 months. These cash advances are part of a revolving balance, with a monthly minimum payment, similar to a credit card.

Use the estimator below to enter each cash advance amount you anticipate taking and we'll help estimate your monthly payments. See examples of how the calculator works.

ReadyLine of Credit Payment Estimator

Cash Advance greater than $2,000 paid in monthly installments:
$
Cash Advance less than $2,000 that will revolve:
$
Interest Rate: *
Total estimated monthly payment: *
0.00
$

Disclosures:

  1. Based on your creditworthiness when you open your account. After that, your APR will vary with the market based on the Prime Rate. The Prime Rate used to determine the APR on your account is the U.S. Prime Rate published in The Wall Street Journal in its column called "Money Rates" on the last business day of each month. As of August 29, 2019, the APR can range from 11.99%-21.99%. There is no ceiling on the applicable APR.

  2. Not available on lines of less than $2,000. Any Cash Advance of $2,000 or more (an "Installment Draw") has a required minimum monthly payment ("Minimum Installment Draw Payment"). The Minimum Installment Draw Payment is calculated over 48 months at the interest rate in effect at the time of the Installment Draw.

    The Minimum Installment Draw Payment remains the same for the first 47 months. The applicable periodic interest rate is a variable rate. Your final payment may vary and will be for all outstanding principal and all accrued interest not yet paid.

    Cash Advances of less than $2,000 do not have a required installment repayment amount calculated over a term of 48 months. These cash advances are part of a Revolving Balance, which is repaid in accordance with monthly minimum payment requirements described in the ReadyLine of Credit Agreement.

  3. Any cash advance of $2,000 or more is referred to as an "Installment Draw" in the ReadyLine of Credit Agreement. Each Installment Draw has a required minimum monthly payment, which is calculated over 48 months at the interest rate in effect at the time of the Installment Draw (Minimum Installment Draw Payment). The Minimum Installment Draw Payment remains the same for 47 months. The applicable periodic interest rate is variable. Your final payment may vary and will be for all outstanding principal and all accrued interest not yet paid.

* The total estimated payment is an estimate based upon one of the interest rates available today. Your interest rate is based on your creditworthiness when you open your account and will be provided to you upon approval. You will not know the exact monthly payment amount until you receive your monthly billing statement.

This calculator is for information, education, and entertainment purposes only. This information may help you analyze your financial needs. It is based on information and assumptions provided by you regarding your goals, expectations and financial situation. It is your responsibility to evaluate the merits and risks associated with relying on any information provided.

By entering this section of the Commerce Bank web site, you acknowledge your understanding and acceptance of the terms of its use.

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