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At Credit Club, you can qualify for a loan of up to $1500 in minutes!
Our minimum repayment period is 61 days. Our Maximum repayment period is 62 days. Maximum Annual Percentage Rate (APR) is 109.50%.
Interest fees by province we operate in: Ontario and British Columbia : We charge $15 per $100 borrowed. Example of the total cost of the loan; for a $300 loan the cost of borrowing will be $45 and the payback amount $345. Nova Scotia : We charge $17 per $100 borrowed. Example of the total cost of the loan; for a $300 loan the cost of borrowing will be $51 and the payback amount $351.
In case of Default, the fees below will apply:
Non Sufficient Funds Fee: British Columbia: $20, Nova Scotia: $40 and Ontario: $25. Late interest fees charged on the principal amount of the loan: British Columbia: 30%, Nova Scotia: 30% and Ontario: 30%.
For example, in Ontario, a loan of 62 days for $300 will be charged an interest fee of $45 ($15 per $100 borrowed). The total re-payment amount will be $345 on the payment due date and the annual percentage rate (APR) will be 88.31%. The loan could also be repaid in two monthly installments of $172.50 at no extra charge or fees (assuming no payment defaults). Assuming one payment of $172.50 defaults, a one-time non-sufficient funds fee of $25 will be charged as well as 12 cents of default interest on a daily basis until the loan is paid in full.
CREDIT CLUB uses personal information in the course of its business. CREDIT CLUB may disclose personal information to credit bureaus, credit reporting agencies and to your current or future creditors for the purpose of maintaining your credit history and providing credit references. CREDIT CLUB may disclose personal information to collect debts itself or to collect debts through collection agencies including affiliates acting in this capacity. CREDIT CLUB may disclose personal information to organizations who help us locate customers for debt collections purposes. CREDIT CLUB may also disclose personal information to financial institutions for payment processing purposes.
We may transfer personal information to outside agents or service providers (including affiliates of CREDIT CLUB acting in this capacity) so that they may perform administrative, marketing or similar services on our behalf, or otherwise collect, use, disclose, store or process personal information on our behalf for the purposes described in this policy. Some of these service providers or affiliates may be located outside of Canada, including in the United States, and your personal information may be collected, used, disclosed, stored and processed in the United States or elsewhere outside of Canada for the purposes described in this policy. Reasonable contractual or other measures we may take to protect your personal information while processed or handled by these service providers are subject to legal requirements in Canada, the United States and other foreign countries applicable to our affiliates, agents and service providers, for example lawful requirements to disclose personal information to government authorities in those countries.
CREDIT CLUB may use personal information and disclose it to parties connected with the proposed or actual financing, securitization, insuring, sale, assignment or other disposal of all or part of our business or assets, for the purposes of evaluating and/or performing the proposed transaction.
CREDIT CLUB may disclose your personal information as necessary to meet legal, regulatory, insurance, audit, and security requirements, and as otherwise with your consent or as permitted or required by law (including as required by applicable Canadian and foreign laws applicable CREDIT CLUB or our agents and service providers, and including lawful requirements to disclose personal information to government authorities in those countries).