Utah Rates & Terms

The finance charge for a line of credit loan is calculated based upon the sum of the amount of the actual daily balance during the billing cycle, divided by the number of days in the billing cycle. We will assess interest for each periodic billing cycle on your account by applying a daily periodic rate of 0.986301 to the average daily balance on your account for that billing cycle. This corresponds to an Annual Percentage Rate (APR) of 360.00%.

A minimum payment of 2.00% of the outstanding principal plus any past due amount, applicable interest, and fees will be due at the end of each billing cycle. A late fee of up to $10 may be charged to past due accounts on the 11th day past due. There is no penalty for early payoff.

The term of the loan is open-ended for as long as the account is active. After 365 days of inactivity, the account will be closed.
As the loan is repaid a corresponding amount of credit will be made available. Line of credit payments will typically be scheduled around your paydays; either bi-weekly, bi-monthly, or monthly.

The loan agreement is governed by the applicable state and federal laws and regulations.

Federal law prohibits lenders from making loans to active-duty military personnel and their dependents which carry an APR above 36%.