CreditCube loans are flexible, short-term installment loans. What distinguishes installment loans from other loan types is that the principal and interest are usually paid back in a few equal installments over a set period of time, according to a pay schedule that is agreed upon in advance. If the borrower wants to repay the loan earlier than the specified date and save on interest, he or she may do so at any time. There are no pre-payment penalties for an early payoff of a CreditCube loan.
Thanks to our Loyalty Program at CreditCube, you will be rewarded every time you make a payment towards your CreditCube loan by gaining loyalty points.
Points are required to advance your CreditCube loyalty status which in turn give you access to extended credit and discounts on your interest rates.
For example, our loyal VIP customers can apply to an extended credit line of up to $5000* and enjoy a 66% discount on their interest!
Surf the web for advice and you’ll find that people in the know all agree − stay away from payday loans. A payday loan is, in effect, an advance on your salary. The hitch is that you have to repay it in its entirety when you receive your next salary, plus interest, and usually they provide you with very little flexibility. Since people usually take a payday loan as a last resort, chances are they won’t be able to pay the loan in full on their next payday. This can be problematic since most people end up paying just the interest on the loan and roll over the entire loan principal to their next payday. This practice merely reschedules their financial problem to a later date while racking up more interest and fees on their outstanding loan. The cycle is addictive and the interest can eventually become unaffordable.
Banks, of course, offer a number of different interest-bearing loans, most of which are considered installment loans. These may require a review of your credit score and banks generally approve a personal loan if your credit score is above a certain threshold. However, should you miss a scheduled payment, your credit rating might suffer, and as a result, your ability to take out another bank loan or a mortgage, even at a different bank or in a different state, may be compromised.
Overdraft protection functions as a different type of bank loan. In exchange for allowing you to go into overdraft, your bank will charge you a fee of $25-$35 per transaction in return. Overdraft protection, however, is not available to everyone. You have to apply for it and be accepted. Often, a bank will link your overdraft ceiling to a savings account as a type of collateral, ensuring your ability to repay. Assuming you do have overdraft protection, there is no set time period for paying it off as long as you’re paying the interest on the overdraft itself. And that can be a huge obstacle, since overdraft interest rates are by far the highest in the industry, with annual percentage rates (APRs) exceeding 1,000%, depending on your specific situation.
A far more affordable form of a bank loan is a credit card loan. A credit card loan is not granted by the credit card company itself, but rather by the bank that issued you the credit card. Of course, a credit card loan can only be provided to the holder of a credit card, and credit cards are not generally issued to consumers with bad or unstable credit histories. Moreover, the maximum amount of charges that can be made on a credit card is based on your credit limit, and if you have reached it you cannot exceed it.
Finally, if you own a car, there are about 20 states that permit you to place a lien on your vehicle’s title and temporarily surrender it to a lender in exchange for a short-term loan. The car serves as collateral. The benefit is that lenders of auto title loans do not need to take the borrower’s credit history into consideration, since ownership of the vehicle will be forfeited if the loan is not repaid. An auto title loan, therefore, can be made for any amount up to the value of the vehicle itself. The disadvantage is that auto title loans are usually very expensive and are unavailable in the majority of states. Furthermore, in the minority that permit them, you cannot receive one if a bank lien currently exists on the vehicle.
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.