What You Need to Know

WHAT YOU NEED TO KNOW ABOUT THE ELASTIC LINE OF CREDIT
THIS IS A SUMMARY OF SOME OF THE TERMS AND CONDITIONS OF THE ELASTIC ACCOUNT.
You should read and keep a copy of the entire agreement at Elastic.com/terms-and-conditions.

HIGH COST CREDIT DISCLOSURE: ELASTIC IS AN EXPENSIVE FORM OF CREDIT. ELASTIC IS DESIGNED TO HELP CUSTOMERS MEET SHORT-TERM BORROWING NEEDS. ELASTIC IS NOT INTENDED TO SOLVE LONG-TERM CREDIT NEEDS. OTHER CREDIT OPTIONS MAY BE LESS EXPENSIVE.

How It Works:

• If approved, you will receive a line of credit with a Credit Limit of $500 to $4,500*. You can request Cash Advances up to your Credit Limit.
• When you request a Cash Advance, the amount of Elastic Cash you receive is less than the Cash Advance requested. We deduct the Cash Advance Fee from the amount of the Cash Advance you request, and deliver the remaining Elastic Cash amount to you by check or direct deposit.
• All Elastic Account information is provided to you electronically. It is important for you to keep your contact information, including your email address, current.
• Payments are due every two weeks (bi-weekly), twice a month (semi-monthly) or monthly, depending on your Pay Frequency and Pay Date identified in your Application. We will send a notice to the email listed in your Elastic Account that your Statement is available. Your Statement will be available at least 14 days before your Payment Due Date and will tell you the Required Payment..

What It Costs:

• Each Cash Advance from your Elastic line of credit is subject to a 10% Cash Advance Fee. The Cash Advance Fee is deducted from your Cash Advance request, and you will receive the remaining Elastic Cash.
• You will be charged a Carried Balance Fee of $5.00 to $350.00 each Billing Cycle that you have a Carried Balance over $10. The amount of the Carried Balance Fee depends on the amount of your Carried Balance and your Billing Cycle, and is explained in Truth-in-Lending Disclosures in Paragraph I of the Elastic Terms & Conditions.

Payments:

• When you request a Cash Advance, we will tell you what your Required Payment and Payment Due Dates will be. If you request additional Cash Advances, we will tell you what your new Required Payments and Payment Due Dates will be. Your Required Payment for each Billing Cycle will consist of:
• Any Past Due Amount plus
• Carried Balance Fees (that are not past due), plus
• A portion of your Balance.
• We encourage you to pay more each Billing Cycle to reduce your cost of borrowing.
• Always review your payment schedule each time you request a Cash Advance to ensure you understand what you will be required to pay and how often. To view an example payment schedule, please visit the Payment Calculator at Elastic.com/what-it-costs.

Please refer to the Elastic Terms and Conditions for more details at Elastic.com/terms-and-conditions