RATES

Are You Eligible For A Line of Credit?

Although this Line of Credit is intended for short term cash needs, various Truth-in-Lending laws require financing disclosures to be expressed as an Annual Percentage Rate (APR), or the cost of the credit advanced to you expressed as an annual rate. This requirement provides uniformity among various credit sources, so you can compare rates and make the choice that is right for you.

The following table provides examples of the cost to obtain a Line of Credit from MyQuickWallet.com. The APRs are based on the option of closing out the Line of Credit after one payment ("Repayment Amount") due in 21, 18, and 14 days from the drawdown date. Since MyQuickWallet charges a fixed fee per payment period, the effective APR of a MyQuickWallet Line of Credit will increase if the initial payment date is shorter than shown in these examples.

DRAWDOWN AMOUNT TERM (# OF DAYS) FINANCE CHARGE LINE OF CREDIT CLOSE OUT AMOUNT (Total of Payments) EFFECTIVE APR
$100.00 21 $30.00 $130.00 521%
$100.00 18 $30.00 $130.00 608%
$100.00 14 $30.00 $130.00 782%
$200.00 21 $60.00 $260.00 521%
$200.00 18 $60.00 $260.00 608%
$200.00 14 $60.00 $260.00 782%
$300.00 21 $90.00 $390.00 521%
$300.00 18 $90.00 $390.00 608%
$300.00 14 $90.00 $390.00 782%
$400.00 21 $120.00 $520.00 521%
$400.00 18 $120.00 $520.00 608%
$400.00 14 $120.00 $520.00 782%
$500.00 21 $150.00 $650.00 521%
$500.00 18 $150.00 $650.00 608%
$500.00 14 $150.00 $650.00 782%
$600.00 21 $180.00 $780.00 521%
$600.00 18 $180.00 $780.00 608%
$600.00 14 $180.00 $780.00 782%
$700.00 21 $210.00 $910.00 521%
$700.00 18 $210.00 $910.00 608%
$700.00 14 $210.00 $910.00 782%
$800.00 21 $240.00 $1040.00 521%
$800.00 18 $240.00 $1040.00 608%
$800.00 14 $240.00 $1040.00 782%
$900.00 21 $270.00 $1170.00 521%
$900.00 18 $270.00 $1170.00 608%
$900.00 14 $270.00 $1170.00 782%
$1000.00 21 $300.00 $1300.00 521%
$1000.00 18 $300.00 $1300.00 608%
$1000.00 14 $300.00 $1300.00 782%
$1100.00 21 $330.00 $1430.00 521%
$1100.00 18 $330.00 $1430.00 608%
$1100.00 14 $330.00 $1430.00 782%
$1200.00 21 $360.00 $1560.00 521%
$1200.00 18 $360.00 $1560.00 608%
$1200.00 14 $360.00 $1560.00 782%
$1300.00 21 $390.00 $1690.00 521%
$1300.00 18 $390.00 $1690.00 608%
$1300.00 14 $390.00 $1690.00 782%
$1400.00 21 $420.00 $1820.00 521%
$1400.00 18 $420.00 $1820.00 608%
$1400.00 14 $420.00 $1820.00 782%
$1500.00 21 $450.00 $1950.00 521%
$1500.00 18 $450.00 $1950.00 608%
$1500.00 14 $450.00 $1950.00 782%

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