Credit Limit: ${!Loan Finance Amount}
Lender: Covered Credit Utah, LLC
4475 Trinity Mills Rd
Suite 701291
Dallas, TX 75370
Borrower: {!First Name} {!Last Name}
Address: {!Address Line 1}{!Address Line 2}, {!City}, {!State}, {!Zip Code}
Phone Number:  {!Phone}
Interest Rates and Interest Charges
Annual Percentage Rate (APR) for Cash Advances 29.9%
Paying Interest We will begin charging interest on Cash Advances on the date of the Advance.
Annual Fee None
Transaction Fees
  • Cash Advance

10% of the amount of the Cash Advance
Penalty Fees
  • Late Payment

  • Returned Payment



How We Will Calculate Your Balance:  We use a method called “average daily balance (including current transactions).”  See your account agreement below for more details. 

Billing Rights:  Information on your rights to dispute transactions and how to exercise those rights is provided below in your account agreement. 


This Line of Credit Agreement (“Agreement”) governs your agreement with us regarding credit extended hereunder.  Please read it carefully.  By signing this Agreement  electronically, you are agreeing to all of the terms and conditions in this Agreement. 

Definitions.  In this Agreement, the words “you” and “your” means the Borrower who signs this Agreement.  The words “we,” “us,” and “our” mean Covered Credit Utah, LLC, 4475 Trinity Mills Road, Suite 701291 Dallas TX 75370, and any assignees of this Agreement or our rights under this Agreement.  The word “Account” means the line of credit account established and governed by this Agreement.  “Cash Advance” refers to an advance of funds from your Account pursuant to this Agreement. 
Promise To Pay.  You promise to pay to us all Cash Advances, Cash Advance Fees, interest, and all other amounts owing to us in accordance with this Agreement. 

Account.  Your Account is a credit line that allows you to obtain Cash Advances from time to time, subject to the terms and conditions of this Agreement.   You may obtain Cash Advances so long as you have available credit, are not in default under this Agreement, and we have not suspended or revoked your right to obtain additional Cash Advances.  In order to obtain Cash Advances, you must request the advance online at www.coveredcredit.com.  In addition, you agree to allow us access to your bank account information for the deposit account identified in your application for credit (the “Linked Bank Account”) via Plaid.  Plaid is a technology platform that enables us to connect with the Linked Bank Account for purposes of reviewing the balance and transaction history in the Linked Bank Account, which you agree we may review and use at any time during the Account relationship for purposes of determining creditworthiness, Credit Limits, costs of credit, and for any other purpose set forth in this Agreement or otherwise permitted by law.  Your Account also includes a feature which will automatically advance funds to the Linked Bank Account in certain circumstances.  You are not required to enroll in this optional feature, but if you elect to enroll, we will automatically advance funds to your Linked Bank Account when the balance of the Linked Bank Account falls below the dollar amount you choose as the trigger for such Cash Advances at the time of enrolling in this feature or any time thereafter.   Such advances of funds to the Linked Bank Account will be in the dollar amount you preselect at the time of enrolling in this feature or any time thereafter.    In any event, the minimum Cash Advance, for both automatic Cash Advances to the Linked Bank Account and Cash Advances you request, is $20.     

Cancellation of First Advance.  You may cancel the first Cash Advance you request at no cost to you if you notify us of your decision to cancel the Cash Advance within five (5) days of your request for the Cash Advance and return within that time period the full amount of any money we have advanced to you.  You must notify us of your decision to cancel the Cash Advance by contacting us at 888-589-5444 before 4pm Central Time on the fifth day after the date on which you made the request for the Cash Advance.  If you cancel the initial Cash Advance under this Account and return any money we advanced to you as set forth above, we will credit any Cash Advance Fees and waive any interest accrued on the Cash Advance. This benefit is available only for the first request for a Cash Advance.   Any subsequent requests, including any request for a Cash Advance after you cancel your first request for a Cash Advance, will be processed in accordance with this Agreement and will not be eligible for cancellation pursuant to this limited right to cancel.
Credit Limit.  Your Credit Limit is stated above.  Any Cash Advances, Cash Advance Fees, or other charges added to the Account will reduce the amount of available credit by the amount of the Cash Advance, Cash Advance Fee or other charge.  As you repay principal, your available credit will be restored to the extent of such repayment.  Payments will not affect the credit available to you under the Account, however, until your payment has cleared and we have received funds from your bank.  If we allow you to obtain Cash Advances that exceed your Credit Limit, you promise to repay the amount that exceeds your Credit Limit immediately upon demand.  We reserve the right to reduce the Credit Limit or otherwise suspend or revoke your right to additional Cash Advances at any time or for any reason, to the extent not prohibited by applicable law.  We may also, at our election, increase your Credit Limit at any time.  You may request that we increase your Credit Limit, but we are not required to grant such a request.   If you request to increase the Credit Limit, you agree that we may review your creditworthiness at the time of that request by, including, but not limited to, obtaining an updated credit report, reviewing the balance and transaction activity in your Linked Bank Account, and other information necessary to analyze your qualifications for additional credit.   We may elect to honor a Cash Advance that causes you to exceed your Credit Limit without increasing the Credit Limit, or we may simply decline any transaction that would cause you to exceed the Credit Limit without taking further action. 

Interest Charges.  We will impose interest charges (“Interest Charges”) from the date we advance funds to you or on your behalf until repaid in full.  To calculate Interest Charges, we multiply the average daily balance by the daily periodic rate for the number of days in the billing cycle. The daily periodic rate is the Annual Percentage Rate (APR) divided by 365, or .0819178. 

How We Will Calculate Your BalanceTo get the average daily balance, we take the beginning balance each day (excluding any accrued, but unbilled Interest Charges), and add any new Cash Advances and Cash Advance Fees, subtract any payments or credits; and make other adjustments as applicable. This gives us the daily balance. Then, we add up all the daily balances for the billing cycle and divide the total by the number of days in the billing cycle. This gives us the average daily balance.  Any negative daily balance (a credit balance) will be treated as zero.  Any unpaid Interest Charges at the end of the billing cycle are added to principal. 

Periodic Billing Statements.  We will provide a periodic billing statement at the end of each billing cycle in which you have account activity or a credit or debit balance.  The periodic billing statement will show your Account balance at the end of the billing cycle reflected in the statement (“New Balance”), your Minimum Payment Due and other Account information.  Unless you notify us of a billing error as provided in “YOUR BILLING RIGHTS” below, you accept your periodic billing statement as an accurate statement of your Account.
Minimum Payment Due.    Your scheduled Minimum Payment Due is recalculated at the end of each billing cycle in which you obtain a Cash Advance.  The scheduled Minimum Payment Due will be the amount necessary to repay the New Balance (the balance due at the end of the billing cycle in which you obtain a Cash Advance) in full in 24 (for monthly payments), 48 (for semi-monthly payments), or 52 (for bi-weekly payments), as applicable, substantially equal payments of principal and interest.  Therefore, your scheduled Minimum Payment Due will be recalculated if you either: (1) pay the outstanding balance of your Account in full (along with all interest, Cash Advance Fees, and other charges due under this Agreement) and thereafter obtain a new Cash Advance, or (2) obtain a Cash Advance before any prior Cash Advance (along with applicable fees and interest) is repaid in full.  In addition to the scheduled Minimum Payment Due, you agree to immediately repay any late fees, returned check charges, or amounts past due.  At our discretion, these amounts may be added to the scheduled Minimum Payment Due for the next scheduled payment.   Nothing herein shall be construed as a waiver of any rights we have under this Agreement or the law, including, but not limited to, the right to accelerate the balance due if you fail to pay as agreed.  If any amount remains unpaid after you have paid the 24 monthly, 48 semi-monthly, or 52 bi-weekly payments, as applicable, in amounts as calculated above, your Minimum Payment Due, assuming no further Cash Advances, will be the amount remaining unpaid.

You may pay more frequently, pay more than the Minimum Payment Due, or pay your entire balance in full at any time without a prepayment penalty.  If you pay more than the Minimum Payment Due in any billing cycle, you will still be required to make at least the Minimum Payment Due as calculated pursuant to this Agreement in following billing cycles, unless you have paid your entire balance in full.  If you regularly pay more than the Minimum Payment Due, you will pay less in Interest Charges, and it may take less time for you to pay off your balance.  We reserve the right to change at any time the manner in which the Minimum Payment Due is calculated, subject to any notices required by applicable law. 

Cash Advance Fee.  We will charge you a Cash Advance Fee for each Cash Advance you obtain in the amount set forth in the Fees summary box at the top of this Agreement. The Cash Advance Fee will be added to the outstanding Account balance and, to the extent not prohibited by law, will incur Interest Charges in accordance with this Agreement.  We may increase or decrease the amount of the Cash Advance Fee at any time and for any reason, including but not limited to, a change in your creditworthiness or as a result of your transaction history, subject to any notice to you required by law,

Late Payment Fee.  You will be charged a Late Payment Fee of $5, if you fail to pay the Minimum Payment Due in full within 10 days of the Payment Due Date shown on your statement.  Notwithstanding anything to the contrary in this Late Payment Fee section, however, if you elect to make Automatic Payments (see “Automatic Payments” section below), we will waive any late fees that would otherwise be imposed on your Account so long as you remain enrolled in automatic payments. If you revoke your authorization to make automatic payments, we will no longer waive any Late Payment Fees that would be imposed after your revocation in accordance with this section. 

Returned Payment Fee.  If any payment is not honored, for any reason, you will be charged a Returned Payment Fee in the amount of $20.

Payment Requirements.  Payments must be made in U.S. Dollars at the address reflected on your billing statement.  We may delay crediting payments that are received at addresses other than that reflected in your billing statement.  Any payment received at the address reflected in your billing statement prior to 5:00 p.m. will be credited as of the date of receipt.  Payments received after 5:00 p.m. will be credited as of the next business day. If your Payment Due Date falls on a day in which there is no scheduled mail delivery, a payment received the next business day will be credited as of the Payment Due Date.  

Notice About Electronic Check Conversion.  When you provide a check as payment, you authorize us to either use the information from your check to create a one-time electronic fund transfer from your account or to process the payment as a check transaction.  In addition, when you authorize us by phone, in writing or by computer to make payment(s) on your account with us from your financial institution, we will also use information from your check or information which you give us to make (an) electronic fund transfer(s) from the financial account you specify and in the amount(s) you request.  When we use information from your check to make an electronic fund transfer, funds may be withdrawn from your account as soon as the same day we receive your payment and you will not receive your check back from your financial institution.  If your payment is returned unpaid, you authorize us to make a one-time electronic fund transfer from your account and to collect a Returned Payment Fee, in the amount set forth above, for each payment returned unpaid. If your check payment is returned unpaid, we may elect to electronically re-present your check up to two more times, except to the extent prohibited by applicable law.

Automatic Payments.  Enrollment in automatic payments is optional.  If you enroll in automatic payments by executing a separate Automatic Payment Plan agreement, you authorize us to initiate electronic fund transfers (EFTs) by debit entries drawn on the bank account, debit card, or credit card you identify in the Automatic Payment Plan agreement (or, if you change the account, such account after you notify us of the change) in the amount of the Minimum Payment Due reflected on your billing statement.  You have the right to receive notice of EFTs that vary in amount from prior EFTs and agree that the disclosure of the Minimum Payment Due in your billing statement satisfies this right.  You may instruct us to process EFTs in amounts that differ from the Minimum Payment Due, but the change may not be effective until 3 business days from our receipt of your instruction to change the payment amount.  EFTs will be processed on the Payment Due Date reflected in your statement.  You agree that the account you identify for EFTs is legitimate, open, and active and that you are authorized to use the account.  You also expressly agree to notify us promptly of any changes in information related to the account from which payments are debited, including, but not limited to, closing of the account and changes in account numbers.  Once enrolled in the Automatic Payment Plan, we will process EFT transactions each billing cycle on the Payment Due Date in accordance with your authorization until you notify us that you wish to terminate the Automatic Payment Plan agreement or we elect to terminate your enrollment in the Automatic Payment Plan.  We may terminate your Automatic Payment Plan at any time and for any reason, including (but not limited to) your default.  You may terminate your Automatic Payment Plan only by contacting us at the telephone number in your billing statement.  You agree to give us sufficient advance notice to allow us and your financial institution a reasonable opportunity to act on your request.  Participation in the Automatic Payment Plan is not required to continue using your Account.  You may elect to cancel your enrollment in the Automatic Payment Plan at any time.

Application of Payments.  We will apply your payments as required by law, and if applicable law does not specify any requirements we may apply the payments in any order we choose.   Without limiting the foregoing, we generally apply payments first to unpaid fees, then to interest, and then to principal.

Default.  You will be in default of this Agreement if you do not make a Minimum Payment Due on your Account on or before the Payment Due Date, withdraw your authorization for us to access the Linked Bank Account (or if we otherwise are not able to access the Linked Bank Account as required by this Agreement,) or if our prospect of payment or performance is significantly impaired.  Significant impairment may occur, but is not limited to, when: (a) You make any false or misleading representation or warranty to us; (b) You begin, or if any other person puts you in, a bankruptcy, insolvency or receivership proceeding; or (c) You die. 

Our Rights in the Event of Default.  If you are in default under this Agreement, after providing any notices and right to cure required by applicable law, we may, at our option and as permitted by law do any one or more of the following:  (i) declare your entire Account balance immediately due and payable and proceed to collect it; (ii) close your Account, or suspend or revoke your ability to obtain additional Cash Advances under the Account; (iii) as limited below (see Collection Costs, next paragraph), recover from you charges, costs and expenses, including collection fees or costs incurred or paid by us in exercising any right, power or remedy provided by law or this Agreement;  (iv) reduce your Credit Limit; and (v) exercise all other rights, powers, and remedies given by law.  Interest Charges will continue to accrue on the Account at the applicable Annual Percentage Rate until it is paid in full.
Collection Costs.  You will pay any collection cost we incur, including reasonable attorney fees (including for attorneys who are our salaried employees) and court costs, as the law allows.  If we hire an attorney that is not our salaried employee or a third-party collection agency to collect what you owe, you will also pay the lesser of: (a) the actual amount we are required to pay to the third-party collection agency or the attorney, regardless of whether that amount is a specific dollar amount or a percentage of the amount owed to us; or (b) 40% of the amount owed to us.

Cancellation.  You may cancel your Account at any time by notifying us in writing that you wish for your Account to be closed and by paying us the entire balance in full.  At our sole discretion with or without cause, we may suspend your ability to obtain Cash Advances with your Account or close your Account, provided that if you are not in default of this Agreement, you will be allowed to repay any remaining balance over time pursuant to this Agreement. 

Credit Investigation and Information.  You authorize us to request and review your credit history by obtaining information from credit reporting agencies and others at our discretion through the life of this Account.  You also expressly authorize us to access your Linked Bank Account to review balance and transaction history information at any time during the life of this Account.

Credit Reporting.  You agree that we may obtain information about you from third parties, including, but not limited to, consumer reporting agencies at any time while your Account is open.  We may report information about your Account to credit bureaus.  Late payments, missed payments, or other defaults on your Account may be reflected in your credit report.  As required by Utah law, you are hereby notified that a negative credit report reflecting on your credit record may be submitted to a credit reporting agency if you fail to fulfill the terms of your credit obligations.

Amendments.  You agree that we may change any of the terms of this Agreement, including the amount and method of computing the Interest Charge and the applicable daily periodic rate, at any time, subject to limitations and/or notices imposed or required by law. 

Communication about this Account.  We may contact you from time to time regarding your Account. We may contact you in any manner we choose unless the law says that we cannot. For example, except as prohibited by applicable law, we may: (1) contact you by mail, telephone, email, fax, recorded message, text message or personal visit; (2) contact you using an automated dialing or similar device that may or may not leave a prerecorded message (“Autodialer”); (3) contact you at your home and at your place of employment; (4) if you give us a mobile telephone number, contact you on your mobile telephone; (5) unless you have told us that certain times or days of the week are inconvenient, contact you at any time, including weekends and holidays; (6) attempt to reach you with any frequency; (7) leave prerecorded and other messages on your answering machine/service; and (8) identify ourselves and our purpose for contacting you in a voice or written message, even if others might hear or read it. Our contacts with you about your Account are not unsolicited and might result from information we obtain from you or others. We may monitor or record any conversation or other communication with you. When you give us your mobile telephone number, we may contact you at this number using an Autodialer and can also leave prerecorded and other messages. We may do these things whether we contact you, or you contact us. If you ask us to discuss your Account with someone else, you must provide us with documents that we ask for and that are acceptable to us.

Notice of Change in Contact Information.  You agree to promptly notify us of any change in your contact information, including the address and phone number listed at the top of this Agreement, and any electronic mail addresses provided to us for purposes of communicating with you regarding this Account.   You agree to notify us by writing to support@coveredcredit.com.  

General.  You agree that if we grant any waiver, modification or other indulgence of any kind at any time, it shall apply only to the specific instance involved and will not act as a waiver, modification or indulgence for any other or future act, event or condition.  We may delay enforcing any of our rights under this Agreement without losing them in accordance with applicable law.  Time is of the essence of this Agreement.  You may not assign this Agreement without our prior written consent.  We may assign this Agreement or any rights to payment under the Agreement without your consent.  This Agreement constitutes the entire Agreement between the parties and no other agreements, representations or warranties other than those stated herein shall be binding unless reduced to writing and signed by all parties. 

Governing Law.  This Agreement (except for the “Arbitration” section below) will be governed by federal law and the law of the state of the Borrower’s residence, as set forth on the first page of this Agreement. The “Arbitration” section below is governed solely by federal law, including the Federal Arbitration Act.  If there is any conflict between any of the terms and conditions of this Agreement and applicable law, this Agreement will be considered changed to the extent necessary to comply with the law (except as otherwise provided in the “Arbitration” section below). The other provisions of this Agreement shall not be affected (except as otherwise provided in the “Arbitration” section below).

ARBITRATION.  The following arbitration provisions apply to disputes that may arise under this Agreement.

A “dispute” is any claim or dispute, in contract, tort or otherwise, arising between you and us.  “Dispute” includes disputes that arise from or relate to this Agreement, or relationships that result from this Agreement (including  relationships with third parties who do not sign this Agreement). 

“Dispute” includes claims or disputes arising before, during and after the transactions evidenced by this Agreement.  “Dispute” includes disputes unrelated to this Agreement.  “Dispute” shall have the broadest possible meaning.   

“We,” “us,” “our” and “third party” include Covered Credit Utah, LLC, and any assignees of Covered Credit Utah, LLC’s rights or obligations under this Agreement, including all affiliates, parents and subsidiaries of these parties and all their employees, agents, or assigns. 

When you, a third party, or we request arbitration, the dispute will be resolved by neutral, binding arbitration under the Federal Arbitration Act and not by a court.  Any dispute is to be arbitrated on an individual basis and not as a class action.  You expressly waive your right to arbitrate a class action, including your right to class relief in arbitration.  This is referred to below as “the Class Action Waiver”.

You may choose the American Arbitration Association (800-778-7879, www.adr.org) or, with our approval, any other arbitration organization as the administrator.  The administrator will apply its relevant current rules.   You may obtain a copy of the rules or additional information about arbitration by contacting the applicable arbitration organization or visiting its website.  If you elect to arbitrate, you agree to notify us of your election in writing and to initiate arbitration in the manner set forth in the arbitration organization’s rules.

The arbitration hearing shall be conducted in the federal district where you reside.  The arbitrator shall be an attorney or retired judge and must be selected according to the rules of the applicable arbitration organization.  The arbitrator shall apply governing law. 

The arbitrator shall award damages or other relief permitted by applicable law.  The arbitrator shall prepare a written decision stating reasoned findings of fact and conclusions of law.

When you request arbitration, you agree to pay a filing fee not to exceed the amount it would cost to file a lawsuit in small claims court.  We will pay the rest of the filing fee, and the whole filing fee when we request arbitration first or when the arbitrator determines that applicable law or the rules of the arbitration organization require us to do so. 

We will pay the arbitration costs and fees for the first day of arbitration, up to a maximum of eight hours.  We will also pay or advance any additional fees for the first day of arbitration, up to a maximum of eight hours.  We will pay or advance any additional fees and charges that the arbitrator determines we must pay or advance in order to assure that this arbitration clause is enforceable.  The arbitrator shall decide who shall pay any additional costs and fees, and, if we advance any fees or charges, shall decide who must finally pay those advanced amounts.

The arbitrator’s award shall be final and binding on all parties, except that the losing party may request new arbitration under the rules of the arbitration organization by a three-arbitrator panel.  Unless prohibited by law, the appealing party shall pay all costs imposed by the administrators upon both parties on appeal, unless the arbitrator decides otherwise.

Neither you nor we waive the right to arbitrate by exercising self-help remedies, filing suit, or seeking or obtaining provisional remedies from a court.  A party may enter judgment on the award in any court of jurisdiction. 

You acknowledge that the transaction(s) between you and us involve interstate commerce.  The Federal Arbitration Act shall govern this arbitration clause and any arbitration under this arbitration clause.

If you do not want this arbitration clause to apply to this transaction, you may send us a written notice to that effect, return receipt requested, within 10 business days of the date you sign this Agreement to this address:

Covered Credit Utah, LLC
4475 Trinity Mills Road
Suite 701291
Dallas,  TX 75370

If a court or arbitrator limits or voids the Class Action Waiver, this entire arbitration clause (except for this sentence) shall be null and void.  If any part of this arbitration clause other than the Class Action Waiver is deemed or found unenforceable for any reason, the rest of the arbitration clause remains enforceable.  This arbitration clause survives payment in full of the obligations incurred under this Agreement and survives discharge in bankruptcy.

This notice tells you about your rights and our responsibilities under the Fair Credit Billing Act.
What To Do If You Find A Mistake On Your Statement
If you think there is an error on your statement, write to us at:
Covered Credit Utah, LLC
4475 Trinity Mills Road
Suite 701291
Dallas,  TX 75370
You may also contact us through email at support@coveredcredit.com.

In your letter, give us the following information: You must contact us:
You must notify us of any potential errors in writing or electronicallyYou may call us, but if you do we are not required to investigate any potential errors and you may have to pay the amount in question.

What Will Happen After We Receive Your Letter
When we receive your letter, we must do two things:
  1. Within 30 days of receiving your letter, we must tell you that we received your letter. We will also tell you if we have already corrected the error.
  2. Within 90 days of receiving your letter, we must either correct the error or explain to you why we think the bill is correct.
While we investigate whether or not there has been an error:
After we finish our investigation, one of two things will happen:

If you receive our explanation but still believe your bill is wrong, you must write to us within 10 days telling us that you still refuse to pay. If you do so, we cannot report you as delinquent without also reporting that you are questioning your bill. We must tell you the name of anyone to whom we reported you as delinquent, and we must let those organizations know when the matter has been settled between us.

If we do not follow all of the rules above, you do not have to pay the first $50 of the amount you question even if your bill is correct.


By clicking “I AGREE”, you acknowledge your understanding of the terms of this Agreement, including your rights with respect to any disputes you have with us.  By clicking “I AGREE”, you agree to the terms of this Agreement and acknowledge receipt of a printable copy of this Agreement, which includes an arbitration provision.