Cost of Credit

In many cases, the terms of a loan can be complicated, hidden fees can crop up, and you’re suddenly faced with more debt to repay than you had initially anticipated. With a Line of Credit from a Bank Lending Partner through CreditFresh, you can expect full transparency, so you’ll know exactly how much your Line of Credit will cost with no unexpected or hidden charges.

Easy-to-Understand Pricing

With a Line of Credit from a Bank Lending Partner through CreditFresh, it’s easy to know how much you will be charged each billing cycle. Here’s how your Minimum Payment is calculated:

Mandatory
Principal
Contribution

 + 

Billing
Cycle
Charge

 = 

Minimum
Payment

Mandatory Principal Contribution

A portion of each Minimum Payment goes directly to your principal balance to ensure you are always paying down your balance.

The Mandatory Principal Contribution is calculated as follows:

  • If you receive your income on a non-monthly basis: the greater of 3% of the Outstanding Principal Balance at the end of the billing cycle or $15 (if the Outstanding Principal Balance is less than $15, then the entire balance will be due)
  • If you receive your income on a monthly basis: the greater of 6% of the Outstanding Principal Balance at the end of the billing cycle or $30 (if the Outstanding Principal Balance is less than $30, then the entire balance will be due)
Billing Cycle Charge*
If the “Average Daily Principal Balance” appearing on your periodic statement is: If you are paid weekly, bi-weekly or semi-monthly, your Billing Cycle Charge will be: If you are paid monthly, your Billing Cycle Charge will be:
$0.01 - $9.99 $5.00 $10.00
$10.00 - $249.99 $15.00 $30.00
$250.00 - $499.99 $30.00 $60.00
$500.00 - $749.99 $40.00 $80.00
$750.00 - $999.99 $55.00 $110.00
$1,000.00 - $1,249.99 $70.00 $140.00
$1,250.00 - $1,499.99 $85.00 $170.00
$1,500.00 - $1,749.99 $95.00 $190.00
$1,750.00 - $1,999.99 $105.00 $210.00
$2,000.00 - $2,249.99 $115.00 $230.00
$2,250.00 - $2,499.99 $120.00 $240.00
$2,500.00 - $2,749.99 $135.00 $270.00
$2,750.00 - $2,999.99 $145.00 $290.00
$3,000.00 - $3,249.99 $160.00 $320.00
$3,250.00 - $3,500.00 $175.00 $350.00

*If you are an existing customer, please refer to your Line of Credit Agreement for terms and conditions.

Get Started