Understanding Our Loan Fees
- 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.
Annual Percentage Rate Disclosure
- Ontario and British Columbia : Annual Percentage Rate (APR) varies from 90% to 390%. The minimum and maximum for repayment period is 62 days. For further details on APR, please refer to the FAQs and Pricing.
- Nova Scotia : 443.21%.
We want every customer, associate, and vendor to know how we protect a customer's personal information and financial privacy. This policy exists so that everyone can understand what our business practices are in relation to the personal information under CREDIT CLUB’s control.
Personal Information We Collect: CREDIT CLUB and its representatives and agents collect personal information in a number of circumstances in the course of providing you with payday loans and otherwise administering our business. We collect personal information primarily from you, for instance through loan applications and supporting information and documentation you provide. In connection with processing your loan application, we may collect personal information from credit bureaus. We may also collect personal information about you through your ongoing interactions with us. Personal information we collect includes:
- information you provide to us on new customer cards, loan applications, account set-up screens, and other forms including your name, address, telephone number, email address, social insurance number (if provided), driver's license or other government photo ID, information about your employment, length at address, spouse or partner's contact information, references, salary, pay dates and other contact, financial or biographical information you provide to us;
- bank statements, phone bills, cheque or pay stubs and voided cheques;
- information about your transactions with us, our affiliates, or other non-affiliated third parties, including how often you visit our stores, your recent transactions, size of checks, telephone requests, services purchased and other retail transaction information;
- information you provide to us on our website, including your name, address, email address and telephone number, to register for our website or receive marketing materials, or information you provide in an online survey; and
- other information we may collect with your consent or as permitted or required by law.
How We Use It: CREDIT CLUB uses personal information in the course of its business including for the purposes of establishing and verifying identity and the accuracy and completeness of other information provided, verifying creditworthiness and determining eligibility for loan amounts, verifying and determining employment, references and contact information for underwriting, debt collection and fraud avoidance; servicing loans, providing ongoing services and responding to questions, contacting customers for the purposes of administering their account, confirming contact information and collecting debts, administering our business and maintaining records for reasonable periods, meeting legal, regulatory, insurance, security and processing requirements, preventing fraud or abuse, and otherwise with your consent or as permitted or required by law.
If you consent, we may also use your personal information to send you marketing materials or other information regarding CREDIT CLUB products and services. We may also disclose your personal information to affiliates or financial institutions with whom we have a joint marketing agreement, and with unaffiliated third parties who license CREDIT CLUB’s software, so that they may send you information about their own products and services. If you no longer want to receive marketing materials from us or no longer want us to share your personal information as described above, please call 1-866-825-1164 or contact us at [email protected].
Who We Share It With: 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. These purposes may include, as examples, permitting those parties to determine whether to proceed or continue with the transaction and fulfilling reporting, inspection or audit requirements or obligations to those parties. Assignees or successors of CREDIT CLUB may use and disclose your personal information for similar purposes as those described in this policy.
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).