Personal Credit Lines

We’ve been around for long enough to know that many of life’s major events don’t happen when you’re expecting them to. At First Exchange Bank, we work to simplify life’s complicated financial situations. A Personal Credit Line allows you to borrow only the money you need and use it to pay for what matters to you. 

What is a Personal Line of Credit?

A personal line of credit is a type of revolving credit account, similar to a credit card, which lets you draw funds as needed up to the limit. Personal credit lines are connected to your First Exchange checking account, which makes it easy to transfer money back and forth when you need to borrow or make a payment. 

Unlike unsecured loans and cash secured personal term loans, a line of credit doesn’t give you a lump sum upfront or operate on a fixed repayment schedule. Instead, it’s there when you need it and you won’t have any payments due until the first time you draw funds.

Benefits of a Personal Line of Credit

Personal credit lines can serve as overdraft protection or an emergency fund, which is why many people open them before they actually need to use them. Payments are affordable, with a minimum due each month and the option to may more if you can. Other benefits and uses include:

  • Flexible: There when you need it, but you don’t have to use it.
  • Convenient: Linked to your checking account for easy transfers between accounts.
  • Affordable: Option to make interest-only payments.
  • Overdraft protection: Can be used to cover overdrafts in your checking account.
  • Unlimited uses: Personal expenses, home remodeling, and anything else you need.

Side by side comparison of Personal Line of Credit vs. Personal Loan - Personal Loan stats : A line of credit statys connected to yoru account even after it's paid off allowing you to withdraw money as needed; As you pay off hte balance, our credit is renewed, allowing you to use ita gain; Payments begin when  you start using the funds. Personal Loan stats: A loan is one lump sum. Once your loan is paid in full, you'll need to reapply if you need to borrow more; Receive one lump sum but cannot borrow any further from the loan; Payments become due soon after funds are disbursed - usually within 1 month.

How To Apply For a Personal Line of Credit 

Applying for a personal line of credit is a pretty simple process. You’ll just need to provide basic information such as your name and address, photo ID, social security number, and current income. Contact one of our loan officers to learn more!

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Apply For A Personal Line Of Credit Today!

We’ve helped generations of West Virginians reach their financial goals and we can help you, too. Come experience our friendly and personal service for yourself! Contact the North Central West Virginia loan officers at First Exchange Bank to learn more about personal lines of credit. You can also visit us at any of our convenient locations: Mannington, Morgantown, Fairmont, Fairview, Hundred, or White Hall. 


 Compare a personal line of credit vs. a home equity line of credit.

*Subject to credit approval. Please contact your local First Exchange Bank for current interest rates.