MDG Club membership: what $8.95 biweekly actually gets you
An optional add-on that buys flexibility, not a lower rate. Here is every benefit, what it costs over a year, and how to request cancellation by email.
Last updated 15 September 2026Rates as of 15 September 2026
What MDG Club is
MDG Club is an optional paid membership attached to your loan account. It costs $8.95 every two weeks, debited alongside your loan payment, and it can be cancelled at any time without affecting your loan.
It buys you flexibility rather than a lower rate. The benefits are about moving payments around when life gets in the way, and having your credit limit reviewed more often. Your APR, your loan amount and your approval decision are not affected by whether you join.
Nobody should join by accident
Membership is presented as a clear opt-in, never pre-ticked, and never a condition of approval. If you were charged for it and did not intend to join, email [email protected] and we will cancel it and refund the charges taken in error.
What membership includes
- Skip one scheduled payment every three months.
- Move a payment date by up to one month.
- Returned payment fee waived once the missed payment clears.
- Automatic credit limit review every month rather than on request.
Skipped payments are not forgiven. Interest continues to accrue and the schedule extends to cover them.
What it actually costs, in plain numbers
Biweekly pricing hides annual cost, so here it is written out.
The arithmetic
- $8.95 every two weeks.
- 26 debits in a year.
- $232.70 a year while the membership is active.
- Charged only while you hold an open account.
Is it worth it for you?
It pays for itself if you would otherwise trigger returned payment fees, or if an unpredictable month would push you into a missed payment reported to the credit bureau. If your income is steady and your payments always clear, you are paying $232.70 a year for flexibility you will not use.
The membership fee is not part of your loan APR, because it is not a condition of credit. It is a separate charge on a separate line of your statement, and cancelling it leaves your loan terms untouched.
How each benefit works
The detail matters more than the headline, particularly on the skip-payment benefit.
Skip a payment
Once every three months you can skip a scheduled payment without it counting as missed or being reported as late. The payment is added to the end of your schedule, interest keeps accruing on the outstanding balance, and your loan finishes later than it otherwise would.
Move a payment date
Shift a due date by up to one month so it lands after a delayed paycheck. Request it before the debit is attempted, not after, because once a payment is returned the bank fee has already been charged.
Returned payment fee waived
If a debit is rejected, our returned payment fee is waived once the missed payment clears. Your own bank may still charge you its own fee, which we cannot waive on your behalf.
Monthly limit reviews
Your line of credit limit is reviewed automatically each month rather than when you ask. A review can raise a limit, leave it unchanged, or reduce it if your circumstances have changed.
Joining, cancelling and refunds
Cancellation is deliberately simple, and we will not ask you to sit through a retention pitch.
To cancel
- email [email protected], Monday to Friday, 8am to 8pm ET.
- Or email [email protected] from the address on your account.
- Cancellation takes effect before your next scheduled membership debit, provided you contact us at least one business day beforehand.
- We confirm every cancellation in writing. Keep that confirmation.
What happens after you cancel
- Your loan APR, payment amount and payoff date do not change.
- Benefits stop on the date the membership ends, including any unused skip.
- Your credit limit is still reviewed, just on request rather than automatically.
- You can rejoin later; benefit timers restart from the new join date.
If you believe you were charged after cancelling, raise it through our complaints process and we will investigate and refund anything taken in error.
Questions about this product
Is MDG Club required to get a loan?
No. It is entirely optional, never pre-selected, and never a condition of approval. Declining it does not affect your loan decision, your rate or your amount.
How much does MDG Club cost?
$8.95 every two weeks, which is $232.70 a year at 26 debits, charged only while you hold an open account and an active membership.
Does skipping a payment mean I owe less?
No. A skipped payment is added to the end of your schedule and interest continues to accrue on the outstanding balance, so the loan finishes later and costs slightly more overall. What the benefit prevents is a late mark on your credit file.
How do I cancel MDG Club?
Email [email protected] or email [email protected] from the address on your account. Contact us at least one business day before your next membership debit and we will confirm the cancellation in writing.
Does the membership fee count towards my APR?
No. It is not a condition of credit, so it is not included in the APR on your loan agreement. It appears as a separate charge on your statement.
Will cancelling affect my loan?
No. Your APR, payment amount and payoff date are unchanged. Only the membership benefits stop.
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