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EZ Line of Credit

Peace of mind an overdraft occur.

EZ Line of Credit Interest Rate  APR 
EZ Line of Credit 11.74% 11.74%

Rates effective as of June 1, 2024, and subject to change without notice. Each individual's Annual Percentage Rate (APR) is determined by the applicant's credit history. Not all applicants will qualify for our displayed lowest rates. Subject to credit approval.

EZ Line of Credit

Get peace of mind that there's available cash when needed.

KEY FEATURES

  • Easy access to funds when you need them
  • Credit lines from $500 to $3,500
  • To be used as overdraft protection on your Elements checking account 
  • Monthly payment is only $25 or 3% of the monthly outstanding balance, whichever is greater
  • To get started, contact Elements at 1-800-621-2105 to apply for the EZ Line of Credit and connect the line of credit with your checking account to establish overdraft protection.

Call 1-800-621-2105 to Apply

So, what exactly is a line of credit?

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A line of credit is money you have at the ready when you need it. You will be approved to draw up to a certain amount on the line of credit, and then you pay interest on what you borrow. If it turns out you don’t need to use the money, you are not charged interest. So you borrow the money by transferring it to your Elements checking account, pay it back, and then borrow it again if and when you need it.

How is an EZ Line of Credit used for overdraft protection?

An Elements EZ Line of Credit can serve as money set aside for unexpected expenses, such as an overdraft. Money automatically transfers from your EZ Line of Credit to match the exact amount of your checking account overdraft. Once the money is transferred away from the EZ Line of Credit, you have a monthly payment of $25 or 3% of the outstanding balance, whichever is greater. Your credit line can be between $500 and $3,500, and your overdraft coverage would be up to the limit you have established. You don’t pay interest on a line of credit until or if you take money from it, so this can act as a good safety net for those unexpected expenses.

There is no fee for the advance from an EZ Line of Credit, but interest is charged on the outstanding balance.

To get started, contact Elements at 1-800-621-2105 to apply and connect the line of credit with your checking account to establish overdraft protection.

Learn More about Overdraft Protection

What are the fees?

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There are no closing costs, prepayment penalties, or an annual fee associated with an EZ Line of Credit.