Rates and fees

What we charge

Nothing. There is no fee to submit a request, and we never ask for payment before or after a loan.

What the lender decides

The APR is the yearly cost of the loan including interest and certain fees. Federal law requires the lender to disclose it before you are bound by the agreement.

Why we do not publish one rate

APRs vary widely between lenders, states, loan sizes and applicants. People with limited or damaged credit are usually offered higher rates than people with strong credit. A single advertised figure would mislead more than it would help, so we point you to the number that matters: the APR on your own offer.

An illustration

This is arithmetic for illustration only. It is not an offer and not a typical or maximum rate. Your lender's APR may be considerably higher or lower.

Late or missed payments

If you pay late, the lender may charge a late fee, report the late payment to credit bureaus, and send the account to collections under the terms of your agreement and state law. If you think you will miss a payment, contact the lender before the due date. Many will discuss a revised plan.

Renewals and extensions

Some lenders allow a loan to be extended or refinanced, which adds cost. Policies differ by lender and are restricted in some states. Ask the lender before relying on it.

Compare before you accept

• Look at the total you will repay, not only the monthly figure.
• Check whether there is a fee for paying early. Many lenders charge none.
• Compare with a credit union or a payment plan from the biller. See responsible lending.

Costs of the Arro Card

The Arro Card's own costs are a separate subject: see Arro Card fees and APR.