MoneyKey's loan and line of credit products and services were created to remove the complexity that people often experience when borrowing money. We want you to understand that there may be significant financial risks related to borrowing money, and urge you to use our products responsibly. Our products are not a solution for long-term financial health, but can be used to bridge a gap when you have found yourself in need of quick access to cash.
Here are a few tips for using our products responsibly:
- Be aware that short-term loans and lines of credit must be paid back according to the terms and conditions set out in your agreement with MoneyKey.
- Read and understand all terms and conditions carefully before agreeing to your loan or line of credit. We provide full disclosures of all of our terms, and our customer care team is available to answer any questions that you may have.
- Short term credit products are like any other credit, in that you will be charged fees and/or interest. If you must extend the amount of time over which you can pay back the loan, there may be additional fees and/or interest that you will be required to pay.
- Never agree to credit terms that you cannot afford to repay. For example, do not borrow more money than you are able to repay in the allotted time frame.
- Do not use short-term credit products as a long-term financial solution.
- Do not use short-term credit products to pay off an existing loan.
As responsible lenders, MoneyKey...
- Fully discloses the terms of our products in a clear and easy-to-understand way allowing you to make educated financial decisions. We explain our loan or line of credit terms to you over the phone, and all terms, conditions and fees are disclosed in our loan agreements.
- Gives you a chance to change your mind. You can cancel your loan or line of credit at no cost provided you inform us by the third (3rd) business day following your loan or line of credit funding date, and we are able to debit the full principal loan amount.
- Always treats you with respect and uses fair, professional and non-abusive collection practices. We never use unlawful threats, intimidation, or harassment to collect amounts owed.
- Protects your personal information with comprehensive website security and privacy policies and controls that limit the collection, use and disclosure of your personal information to reasonable purposes.
- Provides online links to credit counseling, education and assistance.
- No penalties for early prepayments, late fees or hidden fees.
- Ensures that payments are authorized and processed in accordance with applicable state and federal laws.
- Does not engage in any false, misleading or deceptive marketing campaigns.
- Notifications before payment processing.