Flex-Pay Online Installment Loans Texas | MoneyKey

Texas Flex-Pay Installment Loan

Rates and Terms for Texas

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Credit Access Business

MoneyKey – TX, Inc. is licensed as a Credit Access Business (CAB) by the Office of the Consumer Credit Commissioner and registered as a Credit Services Organization by the State of Texas.

As a CAB, MoneyKey attempts to arrange a loan and, if approved, is responsible for the ongoing servicing of any loan that is originated. All Installment Loans arranged by MoneyKey in Texas are funded by an unaffiliated third-party lender.

About the Flex-Pay Installment Loan

This Flex-Pay Installment Loan is a loan product repayable through a number of scheduled repayments set up to coincide with your pay dates. The first few payments consist of fees only, subsequent payments will include principal payment and fees.

How much can I borrow?

The maximum loan amount for Texas residents is $1,000. MoneyKey will attempt to arrange a loan for you up to this amount. Whether an individual will be approved, and the amount they will be approved for, is dependent on certain qualification criteria.

How much will my Installment Loan cost?

MoneyKey charges customers a Credit Access Business Fee (CAB Fee) to locate a lender and guarantee payment of your loan. The amount of the CAB Fee depends on the frequency of your payments. Click here to view examples of the most common loans transacted by MoneyKey.

Weekly, bi-weekly, or semi-monthly paid customers:

If you are a new customer who receives their income weekly, bi-weekly or semi-monthly, and you are approved for a Flex-Pay Installment Loan, you will be charged a CAB Fee that is equal to the sum of $29 per $100 of the principal amount outstanding on each installment in your payment schedule.

If you are a returning customer who receives their income weekly, bi-weekly or semi-monthly, and you are approved for a Flex-Pay Installment Loan, you will be charged a CAB Fee that is equal to the sum of $28 per $100 of the principal amount outstanding on each installment in your payment schedule.

Monthly paid customers:

If you are a new customer who receives their income monthly, you will be charged a CAB Fee that is equal to the sum of $32 per $100 of the principal amount outstanding on each installment in your payment schedule.

If you are a returning customer who receives their income monthly, you will be charged a CAB Fee that is equal to the sum of $31 per $100 of the principal amount outstanding on each installment in your payment schedule.

The unaffiliated third-party lender funding your loan will charge you an interest rate of ten percent (10%) per annum on the principal amount outstanding.

When do I pay the Flex-Pay Installment Loan back?

Weekly, bi-weekly, or semi-monthly paid customers:

If you receive your income more than once a month, the first four (4) payments of your Flex-Pay Installment Loan will consist of payment towards the CAB Fee and interest only. Subsequent installments will then include a payment towards your principal of approximately 14.29% of the original principal amount. The maximum number of installments is 11.

Monthly paid customers:

If you receive your income once a month, the first two (2) payments of your Flex-Pay Installment Loan will consist of payment towards the CAB Fee and interest only. Subsequent installments will then include a payment towards your principal of approximately 33.33% of the original principal amount the principal. The maximum number of installments is five (5).

Are there additional charges?

No. There are no additional charges beyond what has been disclosed here.

Can I cancel my Installment Loan?

You can rescind your loan at no cost within three (3) business days of the effective date of your agreement by phone at 1-866-255-1668 or via email at customercare@moneykey.com. If you do rescind your loan, you will be responsible for returning the entire principal balance back to us. If you do not return the entire principal balance to us, your loan will remain in full force and effect and you will accrue fees on such outstanding principal balance.

Can I pay off my Installment Loan early?

Yes. If you want to make an early payment, or pay an additional amount over and above your scheduled installment to reduce the total amount owed, you may do so at any time by contacting MoneyKey by phone at 1-866-255-1668 or via email at customercare@moneykey.com. There are no penalties associated with such payments. MoneyKey encourages you to pay your loan off as quickly as possible to reduce the amount of finance charges you will pay in connection with the loan.

Who funds the Flex-Pay Installment Loan?

MoneyKey-TX, Inc. is a Credit Access Business (CAB) and is not the lender in the State of Texas. All loans are made by an unaffiliated third party lender.

Consumer Disclosure Form:

The following links contain disclosures required by the State of Texas for all residents applying for a Flex-Pay Installment Loan. These disclosures outline all of the costs associated with installment loans of the following amounts:

I have a few more questions

For additional questions, or if you would like to learn more about the Flex-Pay Installment Loan, please call our Customer Care team at 1-866-255-1668 or check out the frequently asked questions (FAQs) for this product.

Authority to Operate

MoneyKey-TX, Inc. is licensed and examined by the State of Texas -- Office of the Consumer Credit Commissioner. Click on the images below to view the MoneyKey-TX, Inc. licenses.

Consumer Credit Notice:

This business is licensed and examined under Texas law by the Office of Consumer Credit Commissioner (OCCC), a state agency. If a complaint or question cannot be resolved by contacting the business, consumers can contact the OCCC to file a complaint or ask a general credit-related question. OCCC address: 2601 N. Lamar Blvd., Austin, Texas 78705. Phone: (800) 538-1579. Fax: (512) 936-7610. Website: occc.texas.gov. Email: consumer.complaints@occc.texas.gov.

An advance of money obtained through a payday loan or auto title loan is not intended to meet long-term financial needs. A payday loan or auto title loan should only be used to meet immediate short-term cash needs. Refinancing the loan rather than paying the debt in full when due will require the payment of additional charges.

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