We fully disclose our fees and the total cost of borrowing funds from us. Our Finance Charges include interest assessed based upon the amount borrowed and the loan period. We also charge a small transaction fee for each loan based on the finance charge incurred. Loans up to $300 are charged an 11.9% transaction fee, and loans from $301-$500 incur a 7.9% transaction fee. Details have been outlined below:
$15 per $100 for 1-10 day loan periods
• For example, a 7-day $100 loan has a subtotal of $115 (780% APR) with a transaction fee of $1.79, bringing the total payback to $116.79. $17.50 per $100 for 11-20 day loan periods
• For example, a 14-day $100 loan has a subtotal of $117.50 (455% APR) with a transaction fee of $2.08, bringing the total payback to $119.58.
$25 per $100 for 21-30 day loan periods
• For example, a 30-day $100 loan has a subtotal of $125 (304% APR) with a transaction fee of $2.98, bringing the total payback to $127.98.
We do not charge application fees or any other hidden fees. Although our finance charges vary based on the amount of time the loan is taken out (i.e. the loan period), the amount will not change for the period of the loan once it has been approved and funded. Additional costs may be incurred if the loan is renewed, extended, or is returned unpaid.
Although we do not perform traditional credit checks with the three major credit bureaus (i.e. Experian, Equifax, or TransUnion), we do verify your application information with Teletrack, DataX, and Factor Trust. Reasons for denial and adverse action requests are provided within one business day and include consumer reporting agency contact information.
The only thing you need to take care regarding this payday loan ...