Car Title Line of Credit Rate, Fee and Terms
Please print these disclosures and keep them with your records.
This Credit account is offered by Autopawn.com and its affiliate lending partners, Fidelity One Credit, Corp., and Advantage One Credit, LLC. Your application for credit will be forwarded for consideration to one or all of the above lenders. If your application is approved by Autopawn.com, a registered lender located in the State of California, then California law will govern the Credit Agreement; if your application is approved by Fidelity One Credit, Corp, a registered lender located in the State of Utah, then Utah law will govern the Credit Agreement; and if your application is approved by Advantage One Credit, LLC, a tribally-owned entity organized under and governed by the laws of the United Keetoowah Band of Cherokee Indians, a Federally recognized Indian Tribe located in Oklahoma, then tribal law will govern the Credit Agreement.
If you are approved for a loan, line of credit, or cash advance by any of the above lenders, the complete terms applicable to your account will be explained to you prior to your acceptance and furnished to you in writing in the Credit Agreement and loan origination documentation. In the following disclosures, “we,” “our,” and “us” refer to Autopawn.com. and/or Fidelity One Credit, Corp. and Advantage One Credit, LLC (hereinafter, the Lender), and “you” and “your” each refer to the person applying for an Account, each person to whom we issue a Card, Revolving Line of Credit, or Cash Advance at your request, and anyone else who uses your card or credit line with your consent.
Below are the rates, fees and terms associated with this credit offer.
|Monthly Interest Rate for Cash Advances||$49 per thousand dollars borrowed minimum.For example:
$1000 borrowed = monthly interest payment of $49
$2000 borrowed = monthly interest payment of $98
$3000 borrowed = monthly interest payment of $147The Minimum Monthly Percentage Rate that may be applied to your account is 4.9% per month. The Maximum Monthly Percentage Rate that may be applied is 8.9% per month.
Your actual rate may vary.See below for more information.
|Other APRs||Balance Transfer APR: Same as Cash Advance.
Default APR: None
|Method of Computing Balance for Purchases||Average Daily Balance (Including new purchases).|
|Minimum Finance Charge||$1|
|Cash Advance Transaction Fee||$5 or 3% of the Advance, whichever is greater. This fee is a Finance Charge.|
|Account Set-Up Fee||$75 up to $150 fee based upon the amount of your credit limit. See below for more information.|
|Late Payment Fee||$39|
|Over Limit Fee||None|
|Credit Limit Increase Fee||None|
|Monthly Account Servicing Fee||None|
|Other Fees||$29 Additional Card Fee; $39 Stop Payment Fee; $39 Returned Payment NSF Fee; $9 Pay By Phone Fee; 1% Uninsured Auto Fee (1% of the Principal Balance of your account, billed to your account monthly in the event you do not provide proof of full-coverage auto insurance or your auto insurance is discontinued for any reason). See below for other optional fees.|
We reserve the right to change the account terms (including APRs) at any time. If we change your terms for reasons other than when you paid late or go into default, we will notify you in writing. Customers with a good payment history are eligible for a reduction in their interest rate every twelve (12) months. See Credit Agreement for full details. A Credit Agreement along with the rates, fees, and terms of your account will be made available to you immediately upon approval of your application for credit.
Finance Charges: Your Account will also be subject to the Finance Charges, each of which will be billed to your Account and added to your principal balance. Finance Charges are imposed whenever you obtain a cash advance, incur fees, or when a purchase is posted to your Account. You have the option to pay these fees in full when they are incurred, or pay them over time at your discretion. Finance Charges are imposed from the time a purchase, cash advance, or fee is posted, until it is paid in full.
Cash Advance Rate Information: The Minimum Monthly Percentage Rate that may be applied to your account is 4.9% per month. The Maximum Monthly Percentage Rate that may be applied to your account is 8.9% per month. The actual rate, monthly payment amount, and terms of your account will be explained to you by a credit specialist prior to funding, and will not be applied without your express written consent. Customers with a good payment history are eligible for a reduction in their interest rate every 12 months.
How Your Credit History Could Affect Your APR: We do not engage in a practice known as “universal default.” Universal default permits a credit company to increase your APR to the Default APR solely because you fail to make a payment on a loan with another lender or your credit history contains negative information.
Computing Periodic Finance Charges: The Finance Charge is determined by multiplying the “Average Daily Balance” for purchases and cash advances outstanding during the monthly billing cycle by the daily “Periodic Rate.” The term “Cash Advance” means any cash advance obtained through Lender’s Secured Credit Card or Revolving Line of Credit account or through any participating affiliated automatic teller machine (“ATM”) or any financial institution or other establishment authorized to process or grant cash advances and also includes, for purposes of computation of finance charges, fees incurred on your account that are not paid in full, Convenience Checks, and all other cash-equivalent transactions including, but not limited to, Balance Transfers, electronic funds or wire transfer orders, and other transactions with cash-equivalent merchants. The “Average Daily Balance” is computed by taking the beginning balance of your Account on each day, calculated separately for purchases and cash advances, adding new purchases, fees, and/or cash advances and subtracting any payments or credits to get each day’s daily balance. The daily balances are then added together and divided by the number of days in the billing cycle to get the “Average Daily Balance.” The minimum Finance Charge is $1 for each billing cycle during which a Finance Charge based upon a periodic rate is imposed.
Account Set-Up Fee: We impose a one-time Account Set-Up Fee as a condition of extending credit to you based upon the amount of your Credit Limit as follows: $75 for accounts with Credit Limits from $1 to $999, and $150 for accounts with Credit Limits of $1000 or more. This fee includes the cost of document preparation, GPS Installation (if applicable), Express Delivery, and Wire Transfer Fees. These fees are all inclusive in the Account Set-Up Fee, so you will not be billed separately for these costs. The Account Set-Up Fee is a FINANCE CHARGE.
Cash Advance Fee: In addition to the monthly calculation of the cash advance FINANCE CHARGE, there is an additional Finance Charge of the greater of $5 or 3% of the amount of the cash advance for each cash advance obtained.
Late Payment Fee: If we do not receive a payment from you in at least the amount of the Minimum Payment by the Payment Due Date shown on your Monthly Billing Statement, you will be charged a Late Payment Fee of $39.00. We may also refer to this fee as the late fee or late charge.
Returned Payment Fee: If you make a payment on your Account and your check or other payment instrument (including an electronic funds transfer or a telephone authorized draft) is not honored for any reason or cannot be processed, we will charge a Returned Payment Fee of $39.00.
Future Credit Limit Increases: You will be eligible for consideration of a credit limit increase after six months if your account is in good standing. You may contact us anytime after the initial six-month period to request an increase. We may review your vehicle value and credit history to determine if we should increase your Credit Limit, or to set the level of increase, if any, at our sole discretion.
Express Delivery Fee: We impose a $29 fee for the express delivery of your Card(s) or documents shipped overnight or Priority 2-day airmail. The first Express Delivery Fee is included in the Account Set-Up Fee, so you will not be charged for the initial delivery to set-up your account. However, you may be charged for subsequent deliveries if you wish to make changes to your account and request the express delivery of your documents.
Lien Registration Fee: We will bill your account for the fee charged to us for recording a security interest in your vehicle. This amount is paid directly to the State.
Uninsured Auto Fee: In the event that you do not provide us with proof of full-coverage auto insurance, or your auto insurance is discontinued for any reason, you will be charged an Uninsured Auto Fee equal to 1% of the Principal Balance of your account, billed to your account monthly until proof of full-coverage insurance is provided to us. This is a fee, not an insurance premium or payment to purchase insurance. Any and all payments received from this fee are used to manage risk and do not go towards insuring your vehicle.
Miscellaneous Other Fees: $29 Wire Transfer Fee when you request funds transferred by wire (you will not be charged for the first Wire Transfer as it is included in the Account Set-Up Fee); $29 Additional Card Fee each time you request an additional or replacement card; $39 Stop Payment Fee each time you instruct us to stop a payment or electronic funds transfer; $9 Pay by Phone Fee each time you make a payment by phone; GPS Installation Fee: in the event that a GPS locating device is required for the protection and security of your vehicle, we impose a $99 fee for the installation of the device. You will not be charged for the first installation as it is included in the Account Set-Up Fee. However, you may be charged for subsequent installations if the device is removed or tampered with. GPS Removal Fee: in the event that a GPS locating device has been installed in your vehicle, we charge $99 for the removal of the device should you choose not to keep it after you payoff the balance due on your account. However, in the event that the GPS unit is tampered with, damaged, or removed without our authorization, we charge $250 for the cost of replacement.
Available Credit and Cash Advance Limitations: The following fees will be billed to your first statement: Account Set-Up Fee and Lien Registration Fee, along with possible other fees such as an Additional Card Fee, Cash Advance Fee, Mobile Notary Fee, and Miscellaneous Other Fees listed above (if applicable). These fees will reduce your available credit until they are paid.
Eligibility Requirements: You must be a U.S. Resident (except U.S. Territories and APO/ FPO addresses), 18 or older, own a vehicle that is paid off or almost paid off, have a valid social security number, and not have an open or unpaid account or pending application with the Lender. Applications must be fully completed and submitted. Application information must be verifiable and without fraud or other risk alerts. Business accounts are not eligible.
Authorization: You certify that all information given in your application is true and correct and you are giving this information in order to obtain credit, and authorize the Lender to obtain information concerning any statements provided in your application. You agree to furnish the Lender with all requested information. You agree to grant the Lender a security interest in your vehicle for the purpose of securing all sums due under the Credit Agreement and terms of your account. If your application for a credit account is approved, you authorize the Lender to charge the Account Set-Up Fee, Lien Registration Fee, and possible other fees such as an Additional Card Fee, Cash Advance Fee, and Miscellaneous Other Fees (if applicable) to your Account.
Refund Disclosure: If you elect to close your Account(s) within 30 days from the date your account is opened, you may return the card along with any cash advance or purchase amounts to us and all interest and fees paid will be refunded to you, less the Account Set-Up Fee. After this 30-day period these fees are no longer refundable and you are responsible for the account and payment of all fees and charges on the account.
You will be granting the Lender a security interest in your vehicle for the purpose of securing all sums due under the Credit Agreement and terms of your account.
The following describes your agreement with us with respect to information sharing. By requesting, obtaining, or using a credit card or revolving line of credit from us you agree that we may release information in our records regarding you and your Account:
(a) to share your credit performance with credit reporting agencies; (c) to provide information on your Account to any third party who we believe is conducting an inquiry in accordance with the Federal Fair Credit Reporting Act; (d) to share information with our employees, agents or representatives performing work for the Lender in connection with your Account; or (e) to communicate information as to our transactions or experiences with you to persons or entities related by common ownership or affiliated by the corporate control or with any third party affiliates. We may also share information such as: (1) information other than our own transactions with you with persons or entities related to the Lender by common ownership or corporate control; or (2) information about you with certain affiliated companies to provide or offer you selected products, services, or cardholder benefits. By requesting or obtaining a credit card or revolving line of credit, you authorize us to check your credit history. You authorize your employer, bank and any other references listed to release and/or verify information to us and our affiliates in order to determine your eligibility for the credit card/ revolving line of credit and any renewal or future extension of credit. If you ask, you will be told whether or not consumer reports on you were requested and the names of the credit bureaus, with their addresses, that provided the reports. If you designate an authorized user to use your card/ revolving line of credit, you understand that Account information may also be reported to credit bureaus in the authorized user’s name.
By responding to this offer you are requesting a credit account. The Lender, at its sole discretion and option, may approve you for a Secured Credit Card or Revolving Line of Credit, or none at all.
By responding to this offer you are authorizing us to obtain credit reports about you, both now and in the future, for any legitimate business purpose associated with the account or request for an account, including but not limited to reviewing, modifying, renewing or collection on your account.
By responding to this offer you agree to be personally responsible for payment of all balances incurred on all credit card and revolving line of credit accounts issued to you or to authorized users designated by you pursuant to this offer now or whenever such additional accounts may be established in the future.
Ohio Residents: The Ohio laws against discrimination require that all creditors make credit equally available to all credit worthy customers, and that credit reporting agencies maintain separate credit histories on each individual upon request. The Ohio Civil Rights Commission administers compliance with this law.
Kentucky Residents: You may pay the unpaid balance of your account in whole or in part at any time.
New York and Vermont Residents: The Lender may obtain at any time your credit reports for any legitimate purpose associated with the account or the application or request for an account, including but not limited to reviewing, modifying, renewing, and collecting on your account. On your request, you will be informed if such a report was ordered. If so, you will be given the name and address of the consumer reporting agency furnishing the report. New York residents may contact the New York State Banking Department (1-800-518-8866) for a comparative list of credit card fees, rates and grace periods.
California Residents: A married applicant may apply for a separate account. As required by law, you are hereby notified that a negative credit reporting reflecting on your credit record may be submitted to a credit reporting agency if you fail to fulfill the terms of your credit obligations. After credit approval, each applicant shall have the right to use the credit card or revolving line of credit account up to the limit of the account. Each applicant may be liable for amounts extended under the plan to any joint applicant.
Married Wisconsin Residents: No provision of any marital property agreement, unilateral statement, or court order applying to marital property will adversely affect a creditor’s interests unless prior to the time credit is granted, the creditor is furnished with a copy of the agreement, statement or court order, or has actual knowledge of the provision.
Delaware Residents: Service charges not in excess of those permitted by law will be charged on the outstanding balances from month to month.
US Patriot Act: To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. What this means to you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you.
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