Credit Check Disclosure
We at Online Credit USA want you, the potential borrower, to fully understand the process and implications when applying for a loan. To ensure the good standing of your credit score, it is important to fully understand how credit checks fit into the lending process. We encourage you to take the time and read our disclosure policy so that you are fully aware of what to expect from us and our lender network when applying for a loan online. We can assure you that we will do our best to help you throughout the cycle of your loan but we urge you to read through the following so that our position within the lending process is made clear to you, the potential borrower.
onlinecreditusa.com are not lenders so make NO loan or credit decisions. The trusted lenders that we work with may, however, carry out credit checks to ascertain how creditworthy you are, your credit standing and/or your credit capacity. There are three reporting credit bureaus that the credit checks may be carried out with: Experian, Equifax, and TransUnion. By submitting your loan request, you are agreeing to allow our lenders to verify your personal information and check your credit.
Please borrow responsibly and remember that a missed or late payment can have a negative impact on your credit file.
Lender Network Disclosure
onlinecreditusa.com is not a lender – we provide no loans, make no lending decisions, nor do we influence lenders in their decisions. We pride ourselves in providing a free, no-obligation service to consumers looking to borrow funds. We connect those very people, people like you, to trusted, reputable lenders who are willing to lend to them.
When using onlinecreditusa.com to secure your loan requirements, you’ll benefit from our bespoke financial technology. Not only will you be able to access a network of lenders quickly and with ease with just one application, we’ll filter out the companies that don’t match your needs or personal circumstances.
All of the lenders in our network employ their own unique lending criteria and have individual terms and conditions. With this in mind, when you’re approved for a loan and receive your no obligation loan offer, be sure to read the documents carefully to ascertain that it’s the right offer for you! Remember, you’re not obliged to proceed.
State Availability Disclosure
The State availability of our services via our reputable lending network is entirely dependant on lenders that operate or offer their financial products and services within any particular state. Be aware that some lenders may charge APR rates that exceed the limit of the specific State Usury Law, because of this, they can’t legally operate within that State.
The amount of interest that you can legally be charged is set by each State. These Usury Laws are there to protect consumers from unscrupulous lenders and excessive interest rates. Usury Laws are somewhat complicated by a multitude of legal loopholes and exceptions – resulting in it frequently becoming necessary for a differing rate for each situation.
As a consumer, you have the right to waive the Usury Law set interest rates, this can be done via your contract with the lender. As a result, State Interest Rate Laws that apply to your State of residence may have no bearing on the actual rates you have agreed to pay.
Lending criteria vary from State to State, this will mean that not all of our trusted lenders operate in every State. In fact, due to a lender’s eligibility criteria or State legislation, a lender has the option to decline your application and residents of some US states may not be eligible for installment loans products at all.
onlinecreditusa.com connects consumers with lenders that adhere to the specific State Usury Laws and that charge (including fees and interest), a minimum APR rate of 3.95% to a maximum APR rate of 35.9%, but within the legal limits that have been set by that State. Responsibility for ensuring that any agreement you enter into meets State legislation is that of the lender.
A useful point of contact regarding any concerns you may have regarding unlawful interest rates would be your State Office. They are best placed to advise you on the Usury Laws that will affect you.
onlinecreditusa.com does not undertake solicitation for loan products and does not constitute a loan offer for any loan products that are prohibited by State Law. This service is void where prohibited
Truth in Lending Policy
To work with onlinecreditusa.com, the lenders in our network must all comply with to the Truth in Lending Act. This means that they always supply loan offers and contractual agreements that are easily understood as best practice and as required by Federal Law. Truth in Lending helps protect you the consumer against predatory and unscrupulous lending.
Please remember the choice to proceed with a loan is all yours, you are under no obligation to accept a loan offer. Before agreeing to go ahead with the agreement, please read all of the paperwork the lender provides you with carefully to ensure that you understand all of the information about your loan (APR, charges etc). You also need to consider and be certain that you can afford the repayments, and that you are totally satisfied with the offer that has been made to you before signing. If in doubt, ask the lender to clarify details. An informed choice is the best choice.