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Consumer Credit Reporting Terms

When you complete a transaction using the Fluz app, Fluz is responsible for payment to the merchant and once completed, you will repay Fluz through the repayment method you selected before creating your Fluz Card. You acknowledge and agree that you are obligated to repay funds that Fluz advances on your behalf pursuant to your history of successful or failed repayments of such advanced funds will be reported to one or more credit reporting agencies. By agreeing to these terms, you consent to our evaluating whether you are qualified to use Fluz’s Services. We do not charge interest on amounts advanced on your behalf pursuant to your use of the Fluz services  although fees may be assessed by your selected funding source.

Each time you use the Fluz app to make a payment at a merchant (each, a “Transaction”), in accordance with your Standing ACH Authorization (“Standing Authorization”), you authorize Fluz, within thirty (30) days of the date of each Transaction, to initiate an electronic funds transfer (“EFT”) entry to debit your Funding Source in an amount equal to the Transaction total, including any associated fees (the “Transaction Amount”).These EFT debits are for the purpose of repaying Fluz funds advanced on your behalf via the Fluz App. You are responsible for keeping track of your available Funding Source account balance. If the EFT debit is successful, Fluz will report positive payment history to the credit bureaus. If the EFT debit fails and the EDPS-advanced funds remain unpaid for thirty (30) or more days, as of the last day of the month, Fluz may report negative payment information to the credit bureaus.

One of the optional features of Fluz’s Services is that we will report to one or more credit reporting agencies your EFT payments made to Fluz for the repayment of funds advanced on your behalf in connection with your Fluz App transactions. As is explained above, when you make a purchase with your Fluz App, Fluz will is responsible for payment to the merchant and will advance funds for the transaction on your behalf. Within 30 days of the date of each transaction made using your Fluz App, Fluz will initiate one or more EFT debits to deduct equivalent funds from your Funding Source. You are responsible for keeping track of your available balance at the selected Funding Source. If the EFT debit is successful, Fluz will report positive payment history to the credit bureaus. If the EFT debit fails and the advanced funds remain unpaid for 30 or more days as of the last day of the month, Fluz may report negative payment information to the credit bureaus. Increases or specific changes to your credit score are not guaranteed. 

On-time payment history can have a positive impact on your credit score. Late or non-payment may negatively impact your credit score. Impact on your credit may vary, as credit scores are independently determined by credit bureaus based on a number of factors, including the financial decisions you make with other financial services organizations. We cannot guarantee any improvement in credit scores.  The Fluz services will not remove negative credit history from your credit report. If you believe that we have reported inaccurate information about you, or that we may report inaccurate information about you, to a credit reporting agency, please notify us of the specific information that you believe is inaccurate by writing to us at [email protected] or by calling +1 929-357-2780. Please include your name, address, and phone number and explain what information you believe is incomplete or inaccurate.  Fluz shall not be liable for any claims, charges, demands, damages or adverse impacts on a customer’s credit score or credit history if a customer does not complete a loan repayment or has default payments.