We know that fine
print can be painful, but we believe it's important you have all the facts!
AllCreditSource.com is a division of AllCreditSource Ltd.,
Canada's largest lease-to-own furniture, electronics, appliances, and computer
retailer. AllCreditSource.com offers a variety of financial services, including
loans and prepaid cards. AllCreditSource.com Ltd. is listed on the TSX under
the symbol 'EH'. For more information.
24 hour approval (between Monday - Saturday) based on a
completed application and customer verification including a credit check.
Payments are due on scheduled income deposits. Loans are based on a 9-36 month
term and loan amounts range from $500-$50,000. Ask for details.
AllCreditSource.com offers short term personal loans and is
not a credit repair service. AllCreditSource.com Services may help improve your
credit score by building a credit history provided your payments are made in
full and on-time.
Some restrictions and
limitations may apply. Ask for details.
Payment includes loan protection insurance fees, but
excludes applicable provincial taxes and prepaid card fees.
Amount does not
include cost of insurance.
If you take out a $500 loan for a 2 week period and renew it
13 times over a 9 month period.
If you only pay the monthly minimum amount ($10 or 3% of
balance, whichever is larger) with an annual interest rate of 19%. Source:
Financial Consumer Agency of Canada (www.fcac-acfc.gc.ca)
If you take out a loan on a 5 year term with an annual
interest rate of 8%. Source: TD Canada Trust Loan Payment Calculator
(www.tdcanadatrust.com)
Effective April 2nd, 2014, AllCreditSource.com no longer
support reloading of funds onto the Prepaid MasterCard via cash or debit.
Reloading funds to your Prepaid MasterCard can still be done through online
banking. For further inquiries, please email contact@AllCreditSource.com
Credit Score Impact
While having a loan and honouring its obligations can help
build credit, too many loans may be seen by potential creditors as an increased
risk, and failure to meet repayment obligations will result in a negative
report to the credit bureaus, which would reduce your credit score. Please
borrow responsibly.
Renewals
Loans from AllCreditSource.com Services do not automatically
renew. Customers have the option to request an increase to their loan after
paying down a percentage of their current loan amount and maintaining good
payment history. Such a request would be subject to the company's standard
underwriting rules.
Financial
Implications
AllCreditSource.com Services offers personal loans from $500
to $50,000 with terms from 9 to 36 months. The APR is 46.96%, and there are no
additional fees for the loan. AllCreditSource.com Services does not charge a
late fee, but payments returned NSF (non-sufficient funds) will be assessed a
$50 fee in addition to fees charged by the customer's financial institution.
Collections Practices
AllCreditSource.com Services contacts customers in arrears
as soon as possible. AllCreditSource.com contacts customers in arrears through
various means including, but not limited to telephone, email, postal mail, and
SMS. AllCreditSource.com Services may work with third parties to assist in
collections activities.
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