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

  •   Do you check credit?

    Yes, we obtain credit reporting information from various third party data providers.

  •   What states are currently served by Elastic?

    Elastic is offered in 39 states and DC. Elastic is currently not offered in:
      •   Colorado
      •   Connecticut
      •   Georgia
      •   Massachusetts
      •   New Hampshire
      •   New Jersey
      •   New York
      •   North Carolina
      •   Pennsylvania
      •   Vermont
      •   West Virginia

  •   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.

Cost

  •   What fees apply and how do they work?

    Instead of paying interest, with Elastic 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 Section 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 Section 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 Section 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.

  •   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