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How It Works

Elastic Flexible Credit

How Elastic Works 

Elastic is the easy way to access money when you need it. Once your Elastic Account is open and activated, you can access money whenever the need arises. With Elastic, you request Cash Advances online. We will first deduct the Cash Advance Fee from the amount of the Cash Advance you request, and deliver only the Elastic Cash amount to you in your Checking Account or a check by mail, depending on how you select to make payments. As you repay your Balance, you can request additional Cash Advances up to your Credit Limit.

Elastic’s simple pricing1 means:

No Application Fee (Icon)
No application fees
No Application Fee
No annual fees
No Prepayment fees (Icon)
No prepayment fees
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What does it cost?

With our easy-to-understand pricing, Elastic is the smarter way to access the money you need, when you need it. Learn More.

Credit Limit

Upon approval, you will receive a $500 to $4,500* Credit Limit.

Payments

With Elastic, we make payments easy. You are required to make at least the Required Payment by your Payment Due Date. Your Required Payment Due includes repaying a portion of your Balance, any Carried Balance Fees and any Past Due Amounts.

  • Billing Cycle and Payment Due Dates: Your Billing Cycle and Payment Due Dates correspond with your Pay Date and the Pay Frequency you 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.

    • 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 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.

  • Payment Options: You may make payments using the following methods:

    • AutoPay: We will debit your payment on each Payment Due Date from your Checking Account. To pay down your Balance faster, you can also choose to make an Additional AutoPay amount and pay more than the Required Payment each Billing Cycle.

    • One-Time Electronic: You can call or schedule a one-time electronic payment online.

    • Debit Card Payments: You can make a debit card payment over the phone.

    • Payment by Checking Account: If your bank permits, you can use their bill payment feature to make payments.

    • Payment by Mail: You can pay by mailing a personal check, certified check or money order.

You may pay your Balance in full at any time without penalty. We also accept partial payments. For details about your payment options, please review Paragraph 13 of the Terms and Conditions.

Why Choose an Elastic Line of Credit

 Elastic's line of credit offers a convenient and flexible way to manage your finances, allowing you to borrow only what you need and repay over time.

Onward and Upward

Elastic empowers you with financial tools and tips to build better credit, save more money, and navigate life's financial ups and downs with confidence.

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Credit Score Plus

Get your TransUnion® credit score, daily credit alerts, and factors affecting your credit score with no additional cost.

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Example Payment Calculator

See a sample payment schedule, and how paying more than the Required Payment can reduce the cost of borrowing. 

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Budgeting Tool

Use Elastic’s budgeting tool to help you manage your money wisely.

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Financial U

Access videos that cover the basics of savings, debt, and budgeting.

Ready to Get Started?

Whether you have a specific expense in mind or would like to have quick access to additional funds whenever needed, Elastic offers a simple application process that allows you to apply for a line of credit, even if you don’t have perfect credit. Eligibility and approval are subject to underwriting requirements.

1You will only pay a Cash Advance Fee based on how much you borrow. And if you don’t repay the entire balance by your payment due date, you’ll repay a portion of your balance plus a Carried Balance Fee each subsequent billing cycle. See the Terms and Conditions for additional information.