WHAT IT COSTS

One of the best features of Elastic is simple, easy-to-understand pricing. Unlike most banks and credit card companies, Elastic doesn’t charge interest on lines of credit. You pay an access fee each time you get cash. And if you need more time to repay, you will only pay an extension fee of $2.50 per $20 of the outstanding principal.

Here’s how it works:

• When you get a line of credit, you pay an access fee of $2.50 for each $20. If you pay your line of credit back in full on or before your due date, there are no additional fees.
• If you need more time to repay your line of credit, you have the option of paying an extension fee of $2.50 per $20 of the outstanding principal. We also require that you pay at least 10% of your original principal back to make sure that you’re reducing the amount you owe.

When you get an Elastic line of credit, you’ll receive regular statements that clearly list all of the fees you’ve paid and your next payment due date. See our terms and conditions for more details.