What It Costs
Elastic Flexible Credit
What It Costs
With our easy-to-understand pricing, Elastic is the smarter way to access the money you need, when you need it.
Fees and cost for the state of
Existing Customers: Please be sure to log in to view the terms including fee schedule associated with your account. The cost varies by state of residence.
Fees and Charges
Your Elastic Account does not have an interest rate like other traditional credit products. Rather, you pay a Cash Advance Fee of 10% for every Cash Advance you request.1
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.
Bi-Weekly or Semi-Monthly Billing Cycle
| Fee | Amount | How it is Charged | Example |
|---|---|---|---|
| Cash Advance Fee | 10% of the amount of each Cash Advance | We deduct the Cash Advance Fee from the amount of the Cash Advance you request. | $500 Cash Advance Request -$50 Cash Advance Fee =$450 Elastic Cash delivered to you |
| Carried Balance Fee | $5-$175, depending on your Carried Balance View the Carried Balance Fee Chart | Charged every Billing Cycle that you have a Carried Balance on your Statement. | If a Statement shows you have a Carried Balance of $2400.00, you will be charged a Carried Balance Fee of $95.00. |
Monthly Billing Cycle
| Fee | Amount | How it is Charged | Example |
|---|---|---|---|
| Cash Advance Fee | 10% of the amount of each Cash Advance | We deduct the Cash Advance Fee from the amount of the Cash Advance you request. | $500 Cash Advance Request -$50 Cash Advance Fee =$450 Elastic Cash delivered to you |
| Carried Balance Fee | $10-$350, depending on your Carried Balance View the Carried Balance Fee Chart | Charged every Billing Cycle that you have a Carried Balance on your Statement. | If a Statement shows you have a Carried Balance of $2400.00, you will be charged a Carried Balance Fee of $190.00. |
1 We will charge a 10% Cash Advance Fee 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. See the Terms and Conditions for complete details.
How to Reduce Costs
To minimize fees, borrow only the amount that you need and pay it back as soon as you can. If you make only the Required Payment, it can take as long as 20 months to repay your Balance. We encourage you to pay more than the Required Payment to reduce the cost of borrowing.
Example Payment Calculator
Select a sample Cash Advance amount and Billing Cycle below to see an example payment schedule, along with the associated Cash Advance Fee and Carried Balance Fees. You can also add an Additional AutoPay Amount to see how paying more than the Required Payment each Billing Cycle will reduce the cost of borrowing. The Elastic Payment Schedule only reflects a single Cash Advance.
Elastic Cash Amount
The amount of money Elastic will send you.
Cash Advance
10% Cash Advance Fee
Elastic Cash
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