CreditFresh

CreditFresh is a personal line of credit product for consumers with poor or fair credit, issued by CBW Bank, a federally chartered bank, and operated as a program by BlueStem Financial. A line of credit is different from a fixed-term personal loan. With a line of credit, you can draw funds up to your approved limit, repay what you drew, and draw again as needed, making it a flexible but open-ended form of credit.

CreditFresh targets borrowers who do not qualify for personal loans or credit cards from mainstream lenders. Because it serves higher-risk borrowers and provides flexible access to credit, the cost is significantly higher than conventional products. CreditFresh charges a billing cycle fee on outstanding balances rather than a traditional stated APR. When expressed as an annual percentage rate, the effective cost can be very high. Consumers should calculate the total dollar cost of any amount they plan to draw and how long they expect to carry it before applying.

Before using CreditFresh, explore all other available options. Many credit unions provide personal loans and small lines of credit to members with fair or limited credit at much lower rates. Community Development Financial Institutions serve underserved consumers with affordable credit products. Nonprofit emergency assistance programs may also help you avoid high-cost borrowing.

If you do use CreditFresh, draw only the minimum amount you need and repay as quickly as possible to minimize fees. Do not use a line of credit as a substitute for emergency savings or to cover regular living expenses. CBW Bank, the issuing bank, is FDIC-insured. Review all current terms and fee disclosures before applying.