We all know what the risks of owing money are. That’s probably why you’re visiting our web site. You need a small loan to hold you over in order to get out of debt and are considering the various options for online loans to improve your financial stability – sometimes called financial wellness.
There are many different types of short-term online loans to choose from. Some of them, however, impose terms that can entrap you in an endless debt spiral rather than tide you over until you can repay them. Those sorts of short-term loans might risk your economic wellbeing and financial stability. Not ensure it. You will find that the consensus in the financial community tends to be that short-term installment loans pose fewer risks. Installment loans are repaid in identical payments according to a schedule that is provided in advance.
What makes CreditCube installment loans especially attractive is that they are designed with you in mind. Before you sign, we will work with you to plan a repayment schedule that best suits your ability to repay.
Moreover, should you find yourself able to pay off the remainder of your CreditCube installment loan ahead of schedule you’re free to do so. Unlike typical bank loans, there are no hidden pre-payment fees when you take out a CreditCube online loan.
And then if you ever need to come back and take out a subsequent installment loan, we make it even easier. When you take out your first CreditCube installment loan, we automatically enroll you in the CreditCube Loyalty Program. Membership is free. When you repay a CreditCube online loan, the Loyalty Program rewards you by providing you with a higher loan limit at a lower interest rate.
Payday loans, to take but one example, carry the most risk to your economic wellbeing and financial stability posed by any short-term loan. That’s because they usually oblige you to repay the principal and interest in one lump sum on your next payday. That means that you’ll have to find a way to come up with more money in between those two paydays than you would otherwise receive in your next salary. This is why payday loans quickly become addictive, forcing you to take out one after the other just to repay the previous one.
Should you ask your bank for a short-term loan, you will in all likelihood be told to take out an overdraft loan, since it entails a minimum of paperwork. Don’t let that entice you. An overdraft loan can potentially become the most profitable alternative for the bank. In most instances, as long as you keep paying the fees on an overdraft loan you can delay repaying the principal. On the one hand, that may be reassuring if your finances are tight. On the other hand, delaying paying back the principal on an overdraft loan can also become addictive and easily compromise your economic wellbeing and financial stability. The bank won’t object, since it will be making a bigger profit off of you the longer you’re in overdraft. That’s because the longer the principal is ignored, overdraft fees − which are already the highest in the market − will accumulate and reach unaffordable percentages, sometimes as high as 1,000%. If you have put up collateral to obtain an overdraft loan, you stand a real risk of forfeiting it under those circumstances.
Even before you reach that stage, your credit rating and credit score might be affected. As a result, you may find it impossible under those circumstances to obtain another bank loan anywhere else, not to mention a credit card, mortgage or other long-term obligation.
CreditCube is a Tribal enterprise, wholly owned and operated by the Big Valley Band of Pomo Indians, a federally-recognized American Indian tribe and sovereign government. Any Agreement entered into as a result of this Application shall be governed by applicable Tribal and federal law. Each aspect of communication and transaction with/on this site will be deemed to have occurred in CreditCube’s Big Valley Band of Pomo Indian Reservation offices, regardless of the location where you are accessing or viewing this site.
⚠ Please note: This is an expensive form of borrowing. CreditCube loans are designed to assist you in meeting your short-term borrowing needs and are not intended to be a long-term financial solution! Examples of emergency reasons why these loans might be used include unexpected emergencies, car repair bills, medical care, or essential travel expenses.
* Loan approvals are subject to underwriting. Approval may take longer if additional verification documents are requested. Not all loan requests are approved. CreditCube reviews your information in real-time to determine whether your information meets our lending criteria. You acknowledge that by completing and submitting the website application that you are applying for a Loan. We verify applicant information through national databases including, but not limited to, Clarity Services, Inc., a credit reporting agency, and we may pull your credit in order to determine your eligibility and ability to repay.
** Maximum loan amount is $500 for first-time customers. For returning CreditCube customers, rates may go down over time based on your CreditCube Loyalty Program status and your payment history with us. Please see our Loyalty Program page for more information.
*** Loan Applications processed and approved before 3pm EST Monday-Friday are typically funded on the next business day. Example: If your loan is processed and approved on Friday before 3pm EST, the loan will typically be funded on the following Monday. Deposit times may vary depending on your bank. Business Day means Monday through Friday excluding all federal banking holidays.
CreditCube does not lend to residents of Pennsylvania, Connecticut, Minnesota, New York, Vermont, Virginia, West Virginia and Georgia. Availability of installment loans in your state is subject to change at any time with or without notice at the sole discretion of CreditCube.