Getting a Short Term Loan

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Questions about Getting a Short Term Loan

 
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Am I eligible for the iAdvance Line of Credit?

In order to be eligible for the iAdvance Line of Credit, you must have made two recent, recurring direct deposits on your AccountNow prepaid account. Once you have done that, Click here to enroll by filling out a simple online application. It only takes a few minutes to complete, and your line of credit will be ready whenever you need to use it.
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How much can I borrow?

Once you are eligible for the iAdvance Line of Credit, the amount you can borrow depends on the average amount of your recent direct deposit history, but can be up to $600. Sometimes you may not be able to get as much as you'd like, but a payday advance should be part of a short-term financial solution. We wouldn't really be helping if you received more than you have the ability to repay. Like other lines of credit, as you request money, your available limit will decrease. When the money is repaid, your available credit limit will be restored.
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How much does it cost?

No, unfortunately in order to qualify for iAdvance Line of Credit, you must have direct deposit established with your AccountNow prepaid account. Already have an AccountNow prepaid account, but need to set up direct deposit? Click here and we’ll walk you through it – it’s easy!
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How do I pay back my loan?

You don’t have to do anything – payments will be automatically made from your AccountNow prepaid card. When the next direct deposit is made onto your AccountNow prepaid card, your outstanding balance and finance charge will automatically be repaid in full. Any deposits (including your paycheck or benefit-related income, tax refund or other special one-time non-repetitive deposits) will be used for repayment. If your direct deposit is not enough to repay the amount you owe, a partial repayment will be made resulting in an unpaid balance. iAdvance will take repayment of the remaining unpaid balance from any future deposits until the amount you owe is repaid in full. You should consult the iAdvance Terms and Conditions for additional repayment information.
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How often can I borrow money?

You may access iAdvance in $20 increments as often as you like – up to your available credit limit. iAdvance is designed to provide access to cash quickly and when you need it most. However, since it is designed to be a short-term solution, if you use the service for more than 12 consecutive months, your credit limit will gradually be reduced.
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Does iAdvance report to credit bureaus?

Yes. Loan advances and repayment performance are reported to the three major credit bureaus monthly. Managing your credit and making payments on time, especially after a period of late payment behavior, will help to raise your credit score over time. With iAdvance you don’t have to worry about getting your payment in on time – we do it for you automatically from your next direct deposit.

Need more information about improving your credit score? Visit www.myfico.com for additional tips and other information about your credit score.


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†iAdvance is an open-end line of credit offered by MetaBank, a federally chartered savings association, located in Sioux Falls S.D. Consult the iAdvance FAQs for further details. Cardholders must complete a separate application for iAdvance Line of Credit. Certain fees and eligibility requirements apply.

*The USA PATRIOT Act is a Federal law that requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. You will be asked to provide your name, address, date of birth, and other information that will allow us to identify you. You may also be asked to provide documentation as proof of identification. Guaranteed Approval is contingent upon successfully passing this mandatory identification confirmation. Cardholders must complete a separate application for iAdvance Line of Credit. Certain fees and eligibility requirements apply.

**Conditions and exceptions apply. Visa’s Zero Liability policy covers U.S.–issued cards only and does not apply to ATM transactions, PIN transactions not processed by Visa, or certain commercial card transactions. Cardholder must notify issuer promptly of any unauthorized use. Consult issuer for additional details or visit www.visa.com/security.

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