FAQs

Below are a few of our most frequently asked questions. If you don't find the information you're looking for, give us a call at (888) 225-0080.

About Elastic

What is Elastic?

Elastic is an unsecured line of credit offering credit limits from $500 to $4,500.
How much can I borrow?

You can request Cash Advances up to your Credit Limit.

Applying & Eligibility

Am I eligible for an Elastic account?

You may be eligible for an Elastic Account if you meet the following criteria:

  •   You are at least 18 years old (or at least 19 years old if you reside in Alabama or Nebraska);
  •   You are not a Covered Borrower under the Military Lending Act at the time of application;
  •   You reside in a state where we offer Elastic;
  •   You have a regular source of income or benefits;
  •   You have an active Checking Account;
  •   You provide information required to verify your identity;
  •   You provide a valid email address and consent to receive electronic disclosures;
  •   You meet our credit underwriting standards; and
  •   You agree to the Terms and Conditions
Is Elastic available in all states?

Elastic is not available in all states.
What can I expect during the application process?

During the application process, you will be asked to provide a valid email address and consent to receive electronic disclosures. We will ask for personal information including details about your residence, income and Checking Account. We will also verify your identity which may include confirmation of your active Checking Account.
Do you check my credit during the application process?

Yes. As part of our credit underwriting process, we will obtain your credit reporting information from various third-party data providers, so we can determine your eligibility for an Elastic Account.
Why do you need to confirm my active Checking Account?

As part of our identity and credit verification processes, we may need to confirm your active Checking Account. This may include securely connecting to your bank through our trusted Elastic partner, Decision Logic. By allowing access to your Checking Account, we can verify the account information you provided and more quickly reach a decision on the status of your application.

As part of this verification process, we do not store your Checking Account information, ensuring your information remains secure.
Does Elastic serve Military customers?

Elastic is not available to applicants listed as Covered Borrowers in the Military Lending Act database, including qualifying active duty service members and their dependents as defined in 32 C.F.R. § 232.
Can I apply over the phone?

To protect your identity, we do not accept applications by phone. However, the application process on Elastic.com is quick and easy. In fact, it only takes a few minutes to apply and find out if you qualify for a $500 to $4,500 line of credit!

Cost

What fees apply and how do they work?

Your Elastic Account does not have an interest rate like other traditional credit products. Rather, you pay a Cash Advance Fee of 5% or 10% for every Cash Advance you request, depending on your Billing Cycle.

We understand you may need more than one Billing Cycle to repay your Balance. If you choose to pay your Balance over time, you are required to pay a portion of your Balance each Billing Cycle. Additionally, for each Billing Cycle that you have a Carried Balance of over $10, you will be charged a Carried Balance Fee ranging from $5 - $350. Please review the Terms and Conditions for details on the Cash Advance Fee and Carried Balance Fee.
Does Elastic charge any other fees?

No, with Elastic there are just the Cash Advance Fee and the Carried Balance Fee. There are no application fees, late fees, or annual fees.

Cooling-Off Period

What is the requirement to pay down to $0 after 10 months with a Balance, and how does it affect my ability to get Cash Advances?

If there is a Balance on your Elastic Account for 10 consecutive months, your Elastic Account will enter the Cooling-Off Period. You will be unable to request Cash Advances during the Cooling-Off Period. The Cooling-Off Period ends when you pay your entire Balance and you keep your Balance at or below $0.00 for 20 consecutive calendar days. We will reinstate your ability to request new Cash Advances once the Cooling-Off Period ends. It may take up to 5 Business Days after the expiration of the 20 day period to reinstate your ability to request a Cash Advance.

You can pay your Balance to $0.00 by paying the Required Payment and not taking any new Cash Advances over a maximum of 20 Billing Cycles if you pay Bi-weekly or Semi-monthly, or 10 Billing Cycles if you pay Monthly. You can pay the Balance to $0.00 faster by paying more than the Required Payment or paying in full. See the Terms and Conditions for complete details.

Statements

How do Statements work?

Your Payment Due Date is at least 14 days after your first Cash Advance and corresponds with your Pay Date and Pay Frequency.

You will receive a Statement for each Billing Cycle for which there is a Balance on your Elastic Account, or as otherwise required by law. Your Statement will be generated at least 14 days prior to the Payment Due Date for each Billing Cycle. We will send a notice to the email address listed in your Elastic Account that your Statement is available. Your Statement is available electronically at Elastic.com. If required by law, we will also mail your Statement to the mailing address we have on file for your Elastic Account.

Review the Statement Guide to help you better understand terms and calculations appearing on your Elastic Statement.

Payments

What do I pay?

Your Required Payment is calculated at the end of each Billing Cycle. When you request a Cash Advance, we will tell you what your Required Payment and Payment Due Dates will be, assuming you take no additional Cash Advances. Your Required Payment will change if you take a subsequent Cash Advance.

You can pay off your Balance faster by paying more than the Required Payment or paying the entire Balance in full.

You are required to repay a portion of your Balance, any Past Due Amounts and any Carried Balance Fees each Billing Cycle. For details on how payments are calculated, please view Paragraph 11 of the Terms and Conditions.

You can also view the Payment Calculator for a sample payment schedule.

For Bi-weekly and Semi-monthly

View $800 Example

View $2,800 Example

For Monthly

View $800 Example

View $2,800 Example
What are my payment options?

You may pay your balance in full at any time without penalty. We also accept partial payments. You may make payments using the following payment methods: AutoPay, one-time electronic payment, debit card payment, payment by checking account or you may make payments by mail any time using a personal check, certified check or money order. Please refer to the Paragraph 13 of the Terms and Conditions for complete details.
What is AutoPay?

“AutoPay” is an optional preauthorized recurring automatic payment to us made on your Payment Due Date from your Checking Account.

By selecting AutoPay, you authorize us to debit your Checking Account in the amount of the payment shown on your Statement as your AutoPay Amount plus the amount shown on your Statement as your Additional AutoPay Amount.

Your AutoPay amount will be equal to the Required Payment minus any Past Due Amount. Your AutoPay amount will not cover your Required Payment if there is any Past Due Amount. You must make arrangements to pay all Past Due Amounts using another permitted payment method to satisfy your Required Payment. You may also authorize us, in a separate authorization available in your Elastic Account at Elastic.com, to separately debit an Additional AutoPay amount, which you select, from your Checking Account automatically on each Payment Due Date. Authorizing payment of an Additional AutoPay amount will help you pay down your Balance faster.

Refer to Paragraph 13 of the Terms and Conditions for details.

For Bi-weekly and Semi-monthly

View $800 Example

View $2,800 Example

For Monthly

View $800 Example

View $2,800 Example
How often are my payments due?

Your Payment Due Date corresponds with your Pay Date and Pay Frequency identified in your Application. If your Pay Frequency is Weekly or Bi-weekly, you will have Bi-weekly Billing Cycles and Bi-weekly Payment Due Dates. If your Pay Frequency is Semi-monthly, you will have Semi-monthly Billing Cycles and Semi-monthly Payment Due Dates. If your Pay Frequency is Monthly, you will have Monthly Billing Cycles and Monthly Payment Due Dates. If your Pay Date or Pay Frequency changes, please call Customer Support at (888) 225-0080 or email us at support@elastic.com.
How can I change my Payment Due Date or Billing Cycle?

To initiate a Payment Due Date or Billing Cycle change request, please call Customer Support at (888) 225- 0080 or email us at support@elastic.com. Requests are subject to eligibility requirements. We will send a notice to the email address listed in your Elastic Account regarding the status of your request within 2 Business Days, including requests for additional information when needed. A change in your Billing Cycle from Bi-weekly or Semi-monthly to Monthly, or Monthly to Bi-weekly or Semi-monthly will result in changes to the Cash Advance Fee, Carried Balance Fee and Required Payment you will pay. Please refer to the Truth-in-Lending Disclosures in Section A, and Paragraphs 7 and 8 for details on the Cash Advance Fee and Carried Balance Fee. Please refer to Paragraph 11 for details on your Required Payment.
Where should I send payments?

Mail Payments To:
Republic Bank & Trust Company
Elastic Payment Processing
P.O. Box 950276
Louisville, KY 40295

Financial U

What is Financial U?

Financial U is an online learning center that teaches basic financial concepts and offers tips for creating healthy financial habits. Access to online courses, interactive tools and other resources is free for all Elastic customers. You can even get rewarded for successfully graduating from Financial U! Rewards are subject to eligibility requirements. Login to Financial U Terms & Conditions to learn more.

Contacting Elastic

Why am I not receiving emails from Elastic?

Spam / Junk Mail Filters. Some email filters may inadvertently redirect important account notices to your spam or junk folder. To ensure that you receive emails from us, please add support@elastic.com to your address book or inbox ‘safe list.’

Email Address Change. It is your responsibility to ensure that the contact information you provide is current and accurate, including your email address. You agree to promptly notify us of any changes to your contact information. You can update your contact information, including your email address, in your account settings at Elastic.com, by calling Customer Support at (888) 225-0080 or emailing us at support@elastic.com.
Where should I send payments?

Mail Payments To:
Republic Bank & Trust Company
Elastic Payment Processing
P.O. Box 950276
Louisville, KY 40295
How do I contact customer support?

Write Us:
Attn: Elastic Customer Support
4030 Smith Road
Cincinnati, OH 45209

Call Us:
P: (888)225-0080
F: (866)766-8160

Hours of operation:

Mon - Fri: 8am - 10pm Eastern
(5am - 7pm Pacific)
(7am - 9pm Central)

Sat - Sun: 9am - 6pm Eastern
(6am - 3pm Pacific)
(8am - 5pm Central)

Email Us:
support@elastic.com

Ready to Apply?

It only takes a few minutes to apply and find out if you qualify for a $500 to $4,500 line of credit.

Apply Now

If you request a Cash Advance of $800, a 5% Cash Advance Fee of $40 will be deducted from your Cash Advance request and you will receive $760 of Elastic Cash. You will receive the Elastic Cash in your Checking Account or a check by mail, depending on how you choose to pay. You must pay at least the Required Payment on your Payment Due Date to keep your Elastic Account current. If you make only the Required Payments, the following Carried Balance Fees will be assessed each Billing Cycle as disclosed in the Truth-in-Lending Disclosures in Paragraph I of the Terms and Conditions.

Statement	Balance	Cash Advance Fee	Carried Balance Fee	Required Payment
1	$800.00	$40.00	-	$50.00
2	$750.00		$25.00	$75.00
3	$700.00		$25.00	$75.00
4	$650.00		$25.00	$75.00
5	$600.00		$25.00	$75.00
6	$550.00		$25.00	$75.00
7	$500.00		$15.00	$65.00
8	$450.00		$15.00	$65.00
9	$400.00		$15.00	$65.00
10	$350.00		$15.00	$65.00
11	$300.00		$15.00	$65.00
12	$250.00		$5.00	$55.00
13	$200.00		$5.00	$55.00
14	$150.00		$5.00	$55.00
15	$100.00		$5.00	$55.00
16	$50.00		$5.00	$55.00

If you request a Cash Advance of $2,800, a 5% Cash Advance Fee of $140 will be deducted from your Cash Advance request and you will receive $2,660 of Elastic Cash. You will receive the Elastic Cash in your Checking Account or a check by mail, depending on how you choose to pay. You must pay at least the Required Payment on your Payment Due Date to keep your Elastic Account current. If you make only the Required Payments, the following Carried Balance Fees will be assessed each Billing Cycle as disclosed in the Truth-in-Lending Disclosures in Paragraph I of the Terms and Conditions.

Statement	Balance	Cash Advance Fee	Carried Balance Fee	Required Payment
1	$2,800.00	$140.00	-	$140.00
2	$2,660.00		$105.00	$245.00
3	$2,520.00		$105.00	$245.00
4	$2,380.00		$95.00	$235.00
5	$2,240.00		$85.00	$225.00
6	$2,100.00		$85.00	$225.00
7	$1,960.00		$75.00	$215.00
8	$1,820.00		$75.00	$215.00
9	$1,680.00		$65.00	$205.00
10	$1,540.00		$65.00	$205.00
11	$1,400.00		$55.00	$195.00
12	$1,260.00		$55.00	$195.00
13	$1,120.00		$45.00	$185.00
14	$980.00		$35.00	$175.00
15	$840.00		$35.00	$175.00
16	$700.00		$25.00	$165.00
17	$560.00		$25.00	$165.00
18	$420.00		$15.00	$155.00
19	$280.00		$15.00	$155.00
20	$140.00		$5.00	$145.00

Your Elastic Account does not accrue traditional interest on the outstanding balance over time. Rather, we charge a Cash Advance Fee for each Cash Advance, as well as a Minimum Charge based on Principal Balance on Which Minimum Charge is Calculated appearing on your periodic statement.

The Principal Balance on Which Minimum Charge is Calculated for each Billing Cycle is determined by taking the outstanding Principal Balance you owed at the end of the previous Billing Cycle and subtracting any principal payments made during the present Billing Cycle. Cash Advances made during the present Billing Cycle are excluded. We will assess a Minimum Charge in each Billing Cycle that you have Principal Balance on Which Minimum charge is Calculated according to the fee schedule set out below.

If your Principal Balance on Which Minimum Charge is Calculated appearing on your periodic statement at the end of your Billing Cycle is	Minimum Charge
$0.01 - $10.00	$0.00
$10.01 - $250.00	$5.00
$250.01 - $500.00	$15.00
$500.01 - $750.00	$25.00
$750.01 - $1000.00	$35.00
$1000.01 - $1250.00	$45.00
$1250.01 - $1500.00	$55.00
$1500.01 - $1750.00	$65.00
$1750.01 - $2000.00	$75.00
$2000.01 - $2250.00	$85.00
$2250.01 - $2500.00	$95.00
$2500.01 - $2750.00	$105.00
$2750.01 - $3000.00	$115.00
$3000.01 - $3250.00	$125.00
$3250.01 - $3500.00	$135.00

If your Principal Balance on Which Minimum Charge is Calculated appearing on your periodic statement at the end of your Billing Cycle is	Minimum Charge
$0.01 - $10.00	$0.00
$10.01 - $250.00	$10.00
$250.01 - $500.00	$30.00
$500.01 - $750.00	$50.00
$750.01 - $1000.00	$70.00
$1000.01 - $1250.00	$90.00
$1250.01 - $1500.00	$110.00
$1500.01 - $1750.00	$130.00
$1750.01 - $2000.00	$150.00
$2000.01 - $2250.00	$170.00
$2250.01 - $2500.00	$190.00
$2500.01 - $2750.00	$210.00
$2750.01 - $3000.00	$230.00
$3000.01 - $3250.00	$250.00
$3250.01 - $3500.00	$270.00

If you request a Cash Advance of $800, a 10% Cash Advance Fee of $80 will be deducted from your Cash Advance request and you will receive $720 of Elastic Cash. You will receive the Elastic Cash in your Checking Account or a check by mail, depending on how you choose to pay. You must pay at least the Required Payment on your Payment Due Date to keep your Elastic Account current. If you make only the Required Payments, the following Carried Balance Fees will be assessed each Billing Cycle as disclosed in the Truth-in-Lending Disclosures in Paragraph I of the Terms and Conditions.

Statement	Balance	Cash Advance Fee	Carried Balance Fee	Required Payment
1	$800.00	$80.00	-	$100.00
2	$700.00		$50.00	$150.00
3	$600.00		$50.00	$150.00
4	$500.00		$30.00	$130.00
5	$400.00		$30.00	$130.00
6	$300.00		$30.00	$130.00
7	$200.00		$10.00	$110.00
8	$100.00		$10.00	$110.00

If you request a Cash Advance of $2,800, a 10% Cash Advance Fee of $280 will be deducted from your Cash Advance request and you will receive $2,520 of Elastic Cash. You will receive the Elastic Cash in your Checking Account or a check by mail, depending on how you choose to pay. You must pay at least the Required Payment on your Payment Due Date to keep your Elastic Account current. If you make only the Required Payments, the following Carried Balance Fees will be assessed each Billing Cycle as disclosed in the Truth-in-Lending Disclosures in Paragraph I of the Terms and Conditions.

Statement	Balance	Cash Advance Fee	Carried Balance Fee	Required Payment
1	$2,800.00	$280.00	-	$280.00
2	$2,520.00		$210.00	$490.00
3	$2,240.00		$170.00	$450.00
4	$1,960.00		$150.00	$430.00
5	$1,680.00		$130.00	$410.00
6	$1,400.00		$110.00	$390.00
7	$1,120.00		$90.00	$370.00
8	$840.00		$70.00	$350.00
9	$560.00		$50.00	$330.00
10	$280.00		$30.00	$310.00

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About Us
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What You Need to Know
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Terms & Conditions
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Privacy Policy
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California Disclosures and Privacy Policy
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Site Map
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Statement Guide
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What is a Line of Credit
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Cash Advance Credit Line
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Personal Line Credit

The Elastic line of credit is offered by Republic Bank & Trust Company, member FDIC. We will charge a 5% or 10% Cash Advance Fee, depending on your Billing Cycle, for each Cash Advance you request. We will deduct the Cash Advance Fee from the amount of the Cash Advance you request, and deliver only the Elastic Cash amount to you. You are required to repay a portion of your Balance each Billing Cycle, and if you have a Carried Balance of greater than $10, a Carried Balance Fee of $5 - $350 will apply. Consult the Terms and Conditions for complete details. Elastic is an expensive form of credit and should not be used as a long-term solution.