Woman removing cash from wallet

Get a
Personal
Line of Credit
with TitleMax®

WHAT IS A LINE OF CREDIT?

A line of credit, or LOC, is a type of flexible borrowing solution that helps ensure that you have funds available for unexpected costly situations. TitleMax’s LOC is an example of this type of financing and works similarly to a credit card in which you can draw funds up to your credit limit and use funds when you need them. At our Tennessee and Kansas TitleMax locations we offer both Secured Lines of Credit and Unsecured Lines of Credit.

HOW DOES A LINE OF CREDIT WORK?

A line of credit works very similarly to a credit card in that you can access and use funds when you need them. The amount that you withdraw can be as little or large as necessary, provided that it does not go over the total credit amount. A periodic collateral and/or income review will be performed to maintain your credit limit.

WHAT IS A LINE OF CREDIT USED FOR?

A Line of Credit is often used for emergency situations, home repairs, and other unexpected expenses.

WHAT IS THE DIFFERENCE BETWEEN AN UNSECURED AND A SECURED LINE OF CREDIT?

The primary difference between unsecured and secured LOC is the required collateral. Unsecured Lines of Credit do not require a car title for qualification. However, with secured Lines of Credit you do need to provide us with a lien-free vehicle title in order to apply.

WHAT COLLATERAL DO YOU NEED TO APPLY FOR A SECURED LINE OF CREDIT?

To apply for a Secured Line of Credit in Kansas or Tennessee, applicants must provide the following:

  • Vehicle
  • Vehicle Title
  • Valid Government-Issued ID

WHAT COLLATERAL DO YOU NEED TO APPLY FOR AN UNSECURED LINE OF CREDIT?

To apply for an in-store Unsecured Line of Credit in Kansas or Tennessee, applicants must provide the following:

  • Valid Government-Issued ID
  • Proof of Income Dated Within the Past 30 Days
  • Proof of Residency
  • Active Checking Account (and access to its details) Dated Within the Past 45 Days
  • A Voided Check

If applying for an online unsecured LOC, a few items are needed in addition to the items above, including:

  • Proof of Residency for the State in Which You’re Applying
  • A Valid SSN
  • A Valid and Active Email Address and Phone Number

ARE SECURED LINES OF CREDIT EASIER TO GET?

In most cases, a Secured Line of Credit is easier to get than an Unsecured Line of Credit, as there is additional collateral used to secure the loan; however, if a person does not have the appropriate collateral, this type of loan is not an option.

HOW DO YOU GET A TITLEMAX LINE OF CREDIT?

You can begin the simple application process for a TitleMax line of credit online, or in person at your neighborhood TitleMax location. You must be at least 18 years old (19 in AL), and meet all eligibility requirements.