How It Works

Elastic is the easy way to access money when you need it. With Elastic, you get a line of credit, but the money you request can go into your checking account. You can borrow as little as $20 or as much as you need up to your credit limit. As you repay your line, you can access additional money up to your credit limit.

Credit Limit 

Upon approval, you will receive a $500 to $3,500 credit line. You can borrow up to your credit limit at any time.


With Elastic, you have a financial safety net to help you bounce back from life’s surprises. You have access to money when you need it, and once you repay your balance, you can access additional money up to your credit limit. Making payments is easy.

  • Billing Cycle. Your Billing Cycle will be set up at the time of application depending on how often and when you are paid. If you are paid every week or every two weeks, your payments will be due every two weeks. If you are paid twice a month, your payments will be due twice a month. If you are paid monthly your payments will be due once per month on the specific day of the month you select.
  • Payment Options. Don't worry about yet another bill. Just set up AutoPay with your checking account, and your payment will come out automatically on your scheduled due date. You can also choose to increase your AutoPay amount to repay your balance faster and reduce Finance Charges. You are not required to pay by the AutoPay electronic payment method. You may make payments by mail, using a personal check, certified check or money order. Please see Section VIII of the Terms and Conditions for details about your payment options.

Cooling Off Period

Our commitment to responsible lending includes a cooling off period. By using your credit wisely and paying off any balance in less than 10 months, your account will not become subject to the cooling off period.

If you maintain a balance greater than $0 for 10 consecutive months, your account will enter the cooling off period. During the cooling off period, you will be unable to request additional cash withdrawals until your balance is $0 for 20 consecutive days.

What does it cost?