Elastic Line of Credit Reviews - Elastic is a much needed alternative to short-term personal loans. Instead of charging high interest rates that can create long lasting payment plans that dwarf the original loan, Elastic offers a fees-based solution. Customers of Elastic can open a line of credit from $500-$3500 they can borrow from at any time.
Elastic, a bank-issued line of credit offered by Republic Bank & Trust Company (“Republic Bank”), has loaned over $680 million dollars to more than 155,000 customers, since its launch in 2013. The $200 million in total principal outstandings includes the 10% of outstandings Republic Bank retains. Elastic passed the $100 million in outstandings mark in May 2016.
With Elastic, you get a line of credit, and can get Elastic Cash directly into your checking account. ... - Once your credit line is open, you can borrow as much as you need up to your credit limit and you only pay for what you use; - You can pay off your balance at any time, we never charge a prepayment fee.
Below I am some of the user reviews I get from the www.bbb.org site about the Elastic credit line.
8/22/2016
I have the most horrible experience thus far, doing business online with Elastic.com I tried to get some information in regard to taking loan from them. After submitting my bank information, routing number etc. They agreed to transfer a loan to my account but they never did and in the process of this the already charged me with payment due and put the balance of $ 3500 in their website while I didn't receive any cent/nothing from them. I called them more than 6 times on different times ( within a 3 weeks period) to complain about the issue ( on why they put balance and payment due on my account in their site when I didn't receive anything from them ). And each time I called they gave me the same reason that they made mistake in typing an error/number from my Bank of America account etc, the same mistakes 5 times ??. This company is a scam and they shouldn't be allowed to operate online and prey on people like this. I called my Bank of America to block them and have warned others and agencies.
5/26/2016
Designed as and is well suited as a last line of funding in emergency situations. Not a credit card. Should only be used when absolutely necessary (but in many cases there are very few options available to people looking to elastic for money, and many of them are even more expensive). A VERY HIGH COST way to borrow, but this is clearly spelled out in numerous places in their documentation and web site. Read and understand what you are agreeing to and you should be fine. This account saved me in several situations to date, when I had no other options available. I recommend this company to any person who does not qualify for less expensive "traditional" forms of credit, and has an urgent need for access to cash quickly.
Elastic, a bank-issued line of credit offered by Republic Bank & Trust Company (“Republic Bank”), has loaned over $680 million dollars to more than 155,000 customers, since its launch in 2013. The $200 million in total principal outstandings includes the 10% of outstandings Republic Bank retains. Elastic passed the $100 million in outstandings mark in May 2016.
With Elastic, you get a line of credit, and can get Elastic Cash directly into your checking account. ... - Once your credit line is open, you can borrow as much as you need up to your credit limit and you only pay for what you use; - You can pay off your balance at any time, we never charge a prepayment fee.
Below I am some of the user reviews I get from the www.bbb.org site about the Elastic credit line.
Review Negative
by : M. S8/22/2016
I have the most horrible experience thus far, doing business online with Elastic.com I tried to get some information in regard to taking loan from them. After submitting my bank information, routing number etc. They agreed to transfer a loan to my account but they never did and in the process of this the already charged me with payment due and put the balance of $ 3500 in their website while I didn't receive any cent/nothing from them. I called them more than 6 times on different times ( within a 3 weeks period) to complain about the issue ( on why they put balance and payment due on my account in their site when I didn't receive anything from them ). And each time I called they gave me the same reason that they made mistake in typing an error/number from my Bank of America account etc, the same mistakes 5 times ??. This company is a scam and they shouldn't be allowed to operate online and prey on people like this. I called my Bank of America to block them and have warned others and agencies.
Review Positive
by : P. R.5/26/2016
Designed as and is well suited as a last line of funding in emergency situations. Not a credit card. Should only be used when absolutely necessary (but in many cases there are very few options available to people looking to elastic for money, and many of them are even more expensive). A VERY HIGH COST way to borrow, but this is clearly spelled out in numerous places in their documentation and web site. Read and understand what you are agreeing to and you should be fine. This account saved me in several situations to date, when I had no other options available. I recommend this company to any person who does not qualify for less expensive "traditional" forms of credit, and has an urgent need for access to cash quickly.
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