NinjaCard® Line of Credit

TRUTH IN LENDING STATEMENT

This Truth-in-Lending Disclosure Statement provides important information regarding the fees and charges for the NinjaCard Line of Credit.

Interest Rate and Interest Charges

Carried Balance Charge

I will incur a Carried Balance Charge each billing cycle as follows:

If the Carried Balance is between

then the Carried Balance Charge for customers with a Monthly Billing Cycle is

and the Carried Balance Charge for customers with a Non-Monthly Billing Cycle is

$    0 - $     50

$  0.00

$  0.00

$  51 - $   100

$  5.00

$  2.50

$101 - $   200

$10.00

$  5.00

$201 - $   400

$15.00

$  7.50

$401 - $   500

$25.00

$12.50

Fees

Annual Fee

None

Transaction Fee

  • Cash Advance Fee

  • Each business day, we charge a Draw Fee equal to 20% of all the Principal Draws you take from your Line of Credit during that day, provided this daily Principal-Draw amount exceeds $5.  We do not charge a Draw Fee for any business day during which your total Principal Draws are $5 or less.

Penalty Fees

  • Late Payment

  • Returned Payment

  • If a scheduled payment is late 10 days or more, then you must pay a late fee equal to the lesser of 5% of the late payment or $25.

  • If a payment is returned and is not later represented and honored, then you must pay a returned payment fee of $5.

How We Calculate Your Carried Balance

We determine the Carried Balance Charge on your Line of Credit by calculating the Carried Balance of your Line of Credit and using the fee chart above. To get the Carried Balance, we take the Previous Statement Principal Balance and subtract any payments posted during the Billing Cycle. Principal Draws that post during a Billing Cycle are not included in your Carried Balance for that Billing Cycle. See Carried Balance Charge section above.

Billing Rights

This notice tells you about your rights and our responsibilities under the Fair Credit Billing Act. 

What To Do If You Find a Mistake on Your Periodic Statement

If you think there is an error on your Periodic Statement, write to us at:

NinjaCard®

Attn: Customer Service Group, Billing Disputes

27 North Wacker Drive, Suite 404

Chicago, Illinois 60606

You may also contact us on the Web:

https://www.ninjacard.com/ and support@ninjacard.com.

In your letter, please provide the following information:

  • Line of Credit information: Your name and loan number.
  • Dollar amount: The dollar amount of the suspected error.
  • Description of problem: If you think there is an error on your Periodic Statement, describe what you believe is wrong and why you believe it is a mistake.

You must contact us:

  • Within 60 days after the error appeared on your Periodic Statement.
  • At least 3 business days before an automated payment is scheduled, if you want to stop payment on the amount you think is wrong. 

You must notify us of any potential errors in writing or electronically. You may call us, but if you do then we are not required to investigate any potential errors and you may have to pay the amount in question.

What Will Happen After We Receive Your Letter

When we receive your letter, we must do two things:

1. Within 30 days of receiving your letter, we must tell you that we received your letter. We will also tell you if we have already corrected the error.

2. Within 90 days of receiving your letter, we must either correct the error or explain to you why we believe the Periodic Statement is correct.

While we investigate whether or not there has been an error:

  • We cannot try to collect the amount in question or report you as delinquent on that amount.
  • The charge in question may remain on your Periodic Statement.
  • While you do not have to pay the amount in question, you are responsible for the remainder of your Balance.
  • We can apply any unpaid amount against your Credit Limit.

After we finish our investigation, one of two things will happen:

  • If we made a mistake: You will not have to pay the amount in question or other fees related to that amount.
  • If we do not believe there was a mistake: You will have to pay the amount in question, along with applicable fees. We will send you a Periodic Statement of the amount you owe, and the date payment is due. We may then report you as delinquent if you do not pay the amount that we think you owe.

If you receive our explanation but still believe your bill is wrong, you must write to us within 10 days telling us that you still refuse to pay. If you do so, we cannot report you as delinquent without also reporting that you are questioning your Periodic Statement. We must tell you the name of anyone to whom we reported you as delinquent, and we must let those organizations know when the matter has been settled between us.

If we do not follow all the rules above, you do not have to pay the first $50 of the amount you question even if your bill is correct.

NinjaCard® Truth in Lending Statement August 2023

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About NinjaCard®
NinjaCard is a full-service financial solution designed to meet your banking and borrowing needs. NinjaCard features a checking account accessed by your Visa® debit card, and a savings account that can earn interest. These banking services are provided by Republic Bank of Chicago, Member FDIC. Additionally, you can draw funds from a Flexline line of credit (the LOC), borrowing only what you need and depositing those funds directly to your checking account. Because you manage all of these accounts in one place— the secure NinjaCard Online Banking accessed via our website (www.ninjacard.com) or mobile application — our Online Banking often uses the singular term “account” to refer to all your NinjaCard accounts. In addition to managing your finances in one place, the NinjaCard offers a rewards program that encourages you to keep all your accounts in good standing. If you meet these rewards conditions, cash is deposited to your savings account. With the NinjaCard Flexline, you can borrow only what you need, make payments with a billing cycle tailored to your regular income interval, and reborrow as many times as you want up to your credit limit.  To authorize a Flexline draw, simply login to your NinjaCard online account (www.ninjacard.com) or use the NinjaCard mobile application.  The Flexline lender will disburse the draw to your NinjaCard checking account or to any other deposit account you choose to link to your Flexline.
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NinjaCard, LLC is a financial technology company, not a bank. Banking services provided by Republic Bank of Chicago, Member FDIC. The Line of Credit services provided by the Lending Bank listed in your Line of Credit agreement.

*NINJACARD® FLEXLINE™ LENDER. The NinjaCard Flexline agreement will name the Flexline lender, which will make the loan decision, communicate that decision to the applicant, and disburse draws to approved applicants.  Depending on your state of residence and credit limit, the Flexline lender will be named in the Flexline agreement.  NinjaCard, LLC, the program manager for Flexline, will service and collect your Flexline on behalf of the lender.  Accepted payment methods include ACH—authorized with a signed autopay form—or personal check, money order, or cashier’s check—mailed to the remittance address listed in the Flexline agreement.  Cash and in-person payments are not accepted.  Flexline may not be available to residents of some states.  See disclaimers appearing on the Flexline application for details.

**NINJACARD FLEXLINE DRAWS. You may be eligible for a NinjaCard Flexline whether or not you obtain a NinjaCard Visa® Debit card.  If you do not obtain a NinjaCard Visa Debit card, then the Flexline lender will disburse draws to any U.S.-domiciled deposit account you choose to link to your Flexline.  If you do obtain a NinjaCard Visa Debit card and deposit account, then you may authorize the Flexline lender to disburse draws to your NinjaCard checking account.  Note, however, that your use of the NinjaCard Visa Debit card or any other Flexline-linked debit card will never automatically initiate a draw, even if the proposed card transaction would exceed the balance of the deposit account to which the card is attached.  Instead, you must affirmatively authorize a draw by either logging in to your NinjaCard online account (http://www.ninjacard.com ) or using the NinjaCard mobile application.

†NINJACARD DEPOSIT DISCLOSURES. The NinjaCard Visa® Debit card is issued by Republic Bank of Chicago, pursuant to a license from Visa U.S.A. Inc., and may be used everywhere Visa® debit cards are accepted.  If you choose to obtain a NinjaCard Visa Debit Card, the card will be attached to a NinjaCard checking account.  The debit card, NinjaCard checking and savings accounts may be referred to collectively as “NinjaCard”. Funds deposited to your NinjaCard checking and savings accounts are insured aggregately up to $250,000 through Republic Bank of Chicago, Member FDIC.  NinjaCard, LLC is the program manager for NinjaCard deposit products, acquiring card applicants, processing card applications, and servicing and obtaining deposit accounts on behalf of the Republic Bank of Chicago.  Banking services may not be available to residents of some states.  See disclaimers appearing on the account application for details.

††SAVINGS REWARDS: Eligible customers will receive a $10 monthly reward deposited to their NinjaCard Savings Account. Rewards eligibility requirements include avoiding any fee delinquency or negative balance in your checking and savings accounts, avoiding any charge delinquency in your optional line-of-credit (LOC), and authorizing the direct deposit of at least $500 of recurring monthly income (e.g., not loan proceeds) to your checking account. Please note: your LOC is provided by the lender named in the LOC agreement, not by Republic Bank of Chicago.

‡EARLY ACCESS to direct deposit funds depends on the timing of the submission of the payment file from the payer. We generally make these funds available on the day the payment file is received, which may be up to two days earlier than the scheduled payment date.

‡‡THE ANNUAL PERCENTAGE YIELD (“APY”) for the NinjaCard® Savings account is variable and may change at any time. The disclosed 0.35% APY is effective as of June 20, 2024. No minimum balance is required. See the Deposit Rate Disclosure for the current APY.

NINJACARD MOBILE APPLICATION.  You can manage your NinjaCard services, including Flexline and NinjaCard Checking and Savings, with either the online banking platform, located at http://www.ninjacard.com , or the NinjaCard mobile application, available on the Apple App Store and Google Play.  Apple, the Apple logo, and iPhone are trademarks of Apple Inc., registered in the U.S. and other countries.  App Store is a service mark of Apple Inc., registered in the U.S. and other countries.  App Store is a service mark of Apple Inc.  Google, Android and Google Play are trademarks of Google Inc., registered in the U.S. and other countries.

NOTICE OF FURNISHING NEGATIVE INFORMATION.  We may report information about your NinjaCard Flexline account to credit bureaus.  Late payments, missed payments, or other defaults on your account may be reflected in your credit report.

IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT.  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 for 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.  We may also ask to see your driver’s license or other identifying documents.