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DeAlmaro

Kabbage Line of Credit

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Hello Everyone.  I got approved for 1k line of credit with Kabbage and I am trying to increase that line of credit.  Any ideas of what I can do.  I called Kabbage and they say that they use algorithms to determine the line increase.  The only thing that they can tell me is that line increase is determined by your revenue and the payment history with Kabbage.

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On 8/15/2018 at 2:54 PM, DeAlmaro said:

Hello Everyone.  I got approved for 1k line of credit with Kabbage and I am trying to increase that line of credit.  Any ideas of what I can do.  I called Kabbage and they say that they use algorithms to determine the line increase.  The only thing that they can tell me is that line increase is determined by your revenue and the payment history with Kabbage.

Hi DeAlmaro-

 

Kabbage has a High Interest rate compared to a credit card or LOC.  In addition, it must be payed back within 6 months with the majority of interested being paid in the first 2 months.

 

Yes, the Credit Line is all computer based.  The more accounts you link, the higher your limit goes.  The majority of the limit will come from your income based off of your online sales. (Amazon, eBay, etc)

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I had a Kabbage line of credit.  Had it as a "just in case" type of thing.  The limit was $1400.  Bank accounts showed over $75,000 revenue in six months time.  I recently closed it.  Never used it once.

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On 10/1/2018 at 5:02 PM, Chris in OK said:

I had a Kabbage line of credit.  Had it as a "just in case" type of thing.  The limit was $1400.  Bank accounts showed over $75,000 revenue in six months time.  I recently closed it.  Never used it once.

:wave:

 

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