What is a Covered Line of Credit?

An unsecured line of credit from $500 to $2500. Once you’re approved you can access cash up to your credit limit any time you need it. It’s like a credit card without the card.

How much does it cost?

The interest rate is 29.9%. The interest is calculated daily based on the outstanding principal balance. There is a Cash Advance fee whenever you access cash. The Cash Advance fee is 10% of cash drawn, and is added to the principal balance.

Are there any other fees?

There is a late fee of $5 (if more than 10 days past due) and a returned payment fee of $20. However, if you select auto-pay, we waive these fees.

How are my minimum payment amounts calculated?

To keep things simple and help you manage your budget, we calculate a minimum fixed amount that you will owe each billing cycle after a cash advance. If you pay the minimum amount each billing cycle you will repay your cash advance in approximately 24 months. Of course, you can repay the loan balance in full at any time with no penalty. Also, we encourage you to pay extra whenever you can to lower your cost of borrowing.


Select how much you want


Choose your pay frequency
Approximate minimum payment: $00.00

How soon can I get the cash?

We provide 2 easy ways to get cash:
Instant – get your money in minutes* for no additional charge
ACH – next banking day

How do I pay back?

Auto pay is our recommended option, so you don’t have to worry about missing a payment. Or you can schedule payments manually each billing cycle. We also accept debit card payments, or you may mail us a payment.

How do I pick my billing cycle?

We know everyone’s financial situation is different, so we let you select your own billing cycle – either monthly, semi-monthly, or bi-weekly. We strongly encourage you to pick a billing cycle that is linked to your income pay dates, so you’ll have funds available to make your on-time payments.

What’s the minimum criteria?

To obtain credit, you must apply online and have a valid checking account, email address, and mobile phone that can accept SMS text messages. The offer of credit is subject to affordability assessment and verifications and is not available in all states. We use automated access to your bank data to determine how much you can afford to borrow. You will need to link your bank account for final credit approval.

What happens if I don’t link my bank account?

Linking your bank account allows us to verify how much money you make and is how we determine the amount of credit that you can afford. If you decide not to link your bank account, we won’t be able to approve your application.

What do you do with my bank information?

Unlike traditional lenders, we don’t rely on credit scores to determine whether to approve you. Instead, our system uses bank account information to help understand your current financial situation and how much you can afford to borrow and successfully repay. We also use this data to verify that this is your bank account to prevent fraud against you.

Is my data secure?

We understand your concerns for data security and privacy! We use bank-level security - 256-bit data encryption and have partnered with Plaid to securely connect with your bank account. Rest assured, we never store your bank credentials and continuously monitor our security. Check out our Security page for more information.

Does applying impact my credit score?

Applying for the Covered Line of Credit will not affect your credit score.

Why is my available amount $0.00?

Effective December 23th, 2020, all credit lines were closed to future cash advancements. We will notify you if cash advance options are reinstated in the future. Although the cash advance feature is no longer available, you can continue to make updates to your account, schedule payments, and make payment date changes online or with an agent at any time. If you are setup on autopay, your payments will continue to be automatically withdrawn on your payment due date. If you are not setup on autopay, please continue to submit your payment by the payment due date.

Still can’t find the answers?