Personal Line of Credit
Credit that waits until you need it
A revolving line from $2,000 to $25,000. Draw only what you need, pay interest only on the balance you have actually drawn, and reuse the line as you repay it.
Why members open one before they need it
A line of credit costs nothing to hold. Its value is that it is already approved on the day something goes wrong.
Interest only on what you draw
A $15,000 line with $2,000 drawn accrues interest on $2,000. The unused $13,000 costs you nothing at all.
Revolving, not one and done
As you repay principal, that room becomes available again. Approve once and the line stays open year after year.
Overdraft protection built in
Link the line to your Summit checking account and a transaction that would overdraw simply pulls from the line instead of bouncing.
Draw from the app
Move money from your line to checking in a few taps. Transfers between Summit accounts are immediate, any hour of the day.
No annual fee
There is no cost to open the line, no cost to keep it open, and no inactivity charge if a year passes without a draw.
Cheaper than a card
Lines start at 11.24% APR while the average credit card sits well above 21%. For an unplanned expense, the difference compounds quickly.
How a draw works
Approved once, available whenever
Say the water heater fails on a Sunday. You draw $1,800 from a $15,000 line in the app that evening, pay the plumber Monday, and begin repaying at your own pace. Nothing about the remaining $13,200 changed, and you never had to reapply.
Line sizes and rates
Rates are variable and tied to the prime rate. Your line size reflects income, credit history, and existing obligations.
Rates current as of July 2026 and subject to change. Membership eligibility required. This is a demonstration website; rates, products, and figures shown are illustrative only.
Common questions
Should I choose a line of credit or a personal loan?
If you know the exact amount and want a fixed payoff date, take the personal loan. If the timing or total is uncertain, the line is better because you only pay for what you use.
Is the rate fixed?
No. A personal line of credit carries a variable rate tied to the prime rate, so your payment can move if prime moves. Personal loans are the fixed-rate option.
What happens if I never draw on it?
Nothing. There is no annual fee and no inactivity fee. The line sits available and reports to the credit bureaus as an open account with a zero balance, which generally helps your utilization ratio.
Can I use it for overdraft protection?
Yes, and we recommend it. Link the line to your checking account and any transaction that would overdraw pulls from the line in $100 increments instead of triggering a returned item.
Does the line ever expire?
The line remains open indefinitely, though we review it periodically alongside your credit profile. We will always notify you in writing before changing a limit.
Can I increase my limit later?
Yes. Request an increase in online banking after six months of on-time payments. Increases within the $25,000 ceiling are usually decided within one business day.
Open a line before you need it
There is no cost to hold an unused line, and having one approved in advance is far easier than applying under pressure.