Preferred Line of Credit
Borrow as much as you need up to your credit limit at a variable interest rate. Use the funds for everything from home improvements, to car repairs or unexpected expenses with no collateral required.
Not a Regions customer? Apply by phone at 1-888-462-7627 or in a branch.
Regions Preferred Line of Credit at a glance
No collateral required
Fewer hoops means more flexibility.
Variable interest rate
Variable APR based on The Wall Street Journal prime rate, plus a margin.
Finance large projects
Access the funds as you need them for whatever you choose.
Up to $50k line for current customers
Current customers can apply online. All applicants can apply in a branch or by phone.
Regions Preferred Line of Credit details
Variable APR based on The Wall Street Journal prime rate, plus a margin. The margin is based on the amount of the approved line amount. Interest rates range from: Prime + 5.00% to Prime + 18.00%.
View Regions Preferred Line of Credit product details.
Fees
Annual Fee: $50, assessed on your anniversary date
Over Limit Fee: $29
Late Fee: $35
Rate discounts
Rate discounts are available for loan amounts $5,000 or greater if you elect to have your monthly payments automatically debited from your Regions checking account through our Automatic Payment Option. The amount of the discount varies based on your type of relationship with Regions, ranging from 0.25% up to 0.50%.
Minimum Preferred Line of Credit amount: $500
Maximum Preferred Line of Credit amount: up to $50,000
Collateral requirements
There are no collateral requirements for a Regions Preferred Line of Credit.
Access to funds
You will have full access to the funds online, by phone, in a branch or via access checks.
Your payment is due monthly and includes both principal and interest. The minimum payment will be either 3% of your outstanding balance or $50, whichever is greater.
Automatic Payment Options
Allows you peace of mind that your payments will be automatically debited from your checking account each month.
Current Regions customers can apply online,1 by phone or in a branch
Current customers can apply online, in a branch or by phone for the Regions Preferred Line of Credit. Apply by phone at 1-888-462-7627 Monday – Friday from 6 am to 7 pm, Saturday 8 am to 2 pm.
Non-customers can apply by phone or in a branch
Non-customers cannot apply online for personal lines of credit at this time. However, non-customers can apply in a branch or by phone. Find a branch or make an appointment with a banker to learn more. Apply by phone at 1-888-462-7627 Monday – Friday from 6 am to 7 pm, Saturday 8 am to 2 pm.
How does a Regions Preferred Line of Credit work?
You have the flexibility to use a portion of the line of credit, pay down your balance and access the available credit again and again. For instance, if you’re approved $20k, you could use $10k immediately, and in a year, decide to use the other $10k. Not sure that’s what you need? Compare all our personal lines side by side.