Simplified Line of Credit
Get the money you need, when you need it.
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The Simplified Line of Credit® is a revolving line of credit that gives you quick access to available funds. So you can use it as often as you’d like, up to your available credit limit, for any expenses you may have – from a vacation to the unexpected.
Take control and simplify your finances with benefits that include:
- Multiple ways to access your Simplified Line of Credit funds
- Unlimited advances – up to the available credit limit (minimum advance $1,000)
- Competitive APR
- No annual fee
| Uses |
You can use your line of credit for anything, including debt consolidation, home improvements, major purchases (appliances, cars, RVs, boats, etc.), vacations and more. |
| Ways to Access |
You can access your funds by visiting one of our branches, using a convenience check or calling 1-800-239-5175. |
| Advances |
Unlimited advances — up to your available credit limit (minimum advance $1,000)* |
| Annual Fee |
There is no annual fee. |
| Prepayment |
You can pay off your Simplified Line of Credit early with no prepayment penalties. |
| Collateral |
No collateral is required for our line of credit. |
| Discount |
You will receive a discount of 0.50% off your APR when your account is enrolled in Auto Debit from BBVA Compass checking or saving accounts. |
Want to learn more? Get our Rates.
These terms are accurate as of April 1, 2013. You can always find out the most current terms by contacting us at: Compass Bank, P.O. Box 2210, Decatur, AL 35699, or 1-800-239-5175.
| Interest Rates and Interest Charges | |
|---|---|
| Annual Percentage Rate (APR) | 9.24% to 23.74%, based on your creditworthiness. This APR will vary with the market based on the Prime Rate. |
| Paying Interest | We start charging interest on the transaction date. There is no way to avoid interest. |
| Fees | |
| Transaction Fees | |
| Advance Fee | Either $10 or 3% of the amount of each advance, whichever is greater. |
| Penalty Fees | |
| Late Payment | $39 |
| Returned Payment | $25 |
How We Will Calculate Your Balance: We use a method called "average daily balance" (including new transactions).
Simplified Line of Credit may not be available to residents of all states.
California Residents: Married applicants may apply for separate accounts.
Delaware Residents: Service charges not in excess of those permitted by law will be charged on the outstanding balance from month to month.
Ohio Residents: The Ohio law against discrimination requires that all creditors make credit equally available to all creditworthy customers, and that the credit reporting agencies maintain separate credit histories on each individual upon request. The Ohio Civil Rights Commission administers compliance with this law.
Maryland Residents: Finance charges will be imposed in amounts or at rates not in excess of those permitted by law.
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Home ValueMap
How much could improvements add to your home's value? - Simplified Line of Credit calculator
Links to third party sites are provided for your convenience. These sites are not within our control and may not have the same privacy, security or accessibility standards. Third parties are completely and solely responsible for the content and availability of their sites.
Home ValueMap: BBVA Compass Home ValueMap estimates are computer-generated and do not constitute an appraisal of value. No representations or warranties as to the accuracy and completeness of the BBVA Compass Home ValueMap estimate, or the public record data used to provide the estimate, are made or implied. Compass Bank makes no commitment whatsoever to use this value for lending purposes.
All loans and lines of credit are subject to approval, including credit approval.
