Rates & Terms – CreditCube
Installment Loan Amount:
The minimum loan amount is $200. The maximum loan amount for first time customers is $500. The maximum loan amount for returning customers is $5,000.
The maximum loan amount depends on your credit history with CreditCube, your Loyalty Program status and your ability to repay.
Cost of your Installment loan:
The total payments due and APR will be disclosed in your loan agreement. The payment schedule on your loan agreement will include the number of payments, payment amounts and payment dates for the duration of the loan. For details on the specific fees of your loan, please refer to your loan agreement. Late fees and non-sufficient funds / returned item fees may apply as described in your loan agreement. Examples of the total payments charged of your loan are provided in the table below.
To minimize the cost of your loan, we strongly recommend that you pay your loan in full or make additional payments as soon as you can. There are no penalties for early payoff.
Payment Schedules:
Your full payment schedule will be included in your loan agreement. You can also choose to repay your loan via debit card, cashier’s check, ACH or money order. If you choose to make payments directly, they must be mailed to our office and received by the payment due date. You can reduce the total cost of your loan by paying off your loan prior to your last due date on your payment schedule or by making additional payments on or between your payment due dates. You control how soon you wish to pay off your loan. There will be no prepayment penalties.
Below are two $300.00 loan sample payment schedules listed for a new customer and a returning customer at the VIP level. Returning customers will receive a reduced APR between to 259.94%-779.97% which is based on credit history with CreditCube, payment history with CreditCube, the customer’s Loyalty Program status and other credit criteria.
Remember that the sooner you pay back the loan, the less the total loan cost will be.
Installment Loan Schedule (New Customer)
ANNUAL PERCENTAGE RATE
The cost of your credit as a yearly rate.
FINANCE CHARGE
The dollar amount the credit will cost you.
Amount Financed
The amount of credit provided to you on your behalf.
Total of Payments
The amount you will have paid after you have made all payments as scheduled.
779.97%
$1,161.97
$300.00
$1,461.97
Payment #
Due Date
Payment Due
1
1/3/2017
$91.37
2
1/17/2017
$91.37
3
1/31/2017
$91.37
4
2/14/2017
$91.37
5
2/28/2017
$91.37
6
3/14/2017
$91.37
7
3/28/2017
$91.37
8
4/11/2017
$91.37
9
4/25/2017
$91.37
10
5/9/2017
$91.37
11
5/23/2017
$91.37
12
6/6/2017
$91.37
13
6/20/2017
$91.37
14
7/4/2017
$91.37
15
7/18/2017
$91.37
16
8/1/2017
$91.37
Installment Loan Schedule (V.I.P level)
ANNUAL PERCENTAGE RATE
The cost of your credit as a yearly rate.
FINANCE CHARGE
The dollar amount the credit will cost you.
Amount Financed
The amount of credit provided to you on your behalf.
Total of Payments
The amount you will have paid after you have made all payments as scheduled.
259.94%
$313.52
$300.00
$613.52
Payment #
Due Date
Payment Due
1
1/15/2016
$38.34
2
1/29/2016
$38.34
3
2/12/2016
$38.34
4
2/26/2016
$38.34
5
3/11/2016
$38.34
6
3/25/2016
$38.34
7
4/8/2016
$38.34
8
4/22/2016
$38.34
9
5/6/2016
$38.34
10
5/20/2016
$38.34
11
6/3/2016
$38.34
12
6/17/2016
$38.34
13
7/1/2016
$38.34
14
7/15/2016
$38.34
15
7/29/2016
$38.34
16
8/12/2016
$38.34
PLEASE NOTE: THIS IS AN EXPENSIVE FORM OF BORROWING AND IS NOT INTENDED TO BE A LONG TERM FINANCIAL SOLUTION. WE STRONGLY ENCOURAGE PRINCIPAL REDUCTION AND EARLY PAYMENT TO REDUCE THE TOTAL COST OF THE LOAN. YOU CONTROL HOW SOON YOU WISH TO PAY OFF THE LOAN. THERE WILL NOT BE ANY PREPAYMENT PENALTIES.
Loan Product Breakdown And Cost
Loan Product
Maximum Loan
Amount
Maximum Number
of Payments
*Discount
%
Annual Percentage Rate%
(APR)
Bronze
$500
8
–
779.97
Silver
$1000
16
16.67
649.98
Gold
$1500
16
33.33
519.99
Platinum
$2000
16
50.00
389.95
VIP
$5000
16
66.67
259.94
Diamond
$5000
16
80.00
159.90
* Your discount % is calculated as a percentage from the Bronze loan product APR (e.g. Silver loan APR is 649% which reflects a 16% discount from the Bronze loan product APR of 779%).
Funding Timeframes:
Loan Applications processed and approved before 3pm EST Monday-Friday are typically funded on the next business day. Example: If your loan is processed and approved on Friday before 3pm EST, the loan will typically be funded on the following Monday. Deposit times may vary depending on your bank.
Late / NSF Fees:
We understand that things do happen. Please contact us immediately if a payment will not be processed successfully or not received by the due date and one of our loan specialists will be more than happy to assist. We will make every effort to work with you. If a payment is not made by your due date, you will be subject to additional fees. If a payment is returned because there are insufficient funds on deposit, or your payment is dishonored by your financial institution for any reason, then you will be assessed an NSF/Late fee of $25.
You can contact us directly at:
1-888-885-5646
support@creditcube.com
Lender License and Ordinance:
Attached is a copy of our Lender License and Tribal Consumer Financial Services Regulatory Ordinance