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H&R Block Emerald Advance® line of credit offers consumers up to $1,000 before holidays and year-round

4 min read

4 min read

November 20, 2017

For 11 years, the H&R Block Emerald Advance® line of credit has helped hundreds of thousands of consumers borrow and pay back millions of dollars to improve their financial situations. Continuing this tradition, the promotional period for Emerald Advance line of credit launched nationally on November 20 for consumers to apply at any participating H&R Block tax office. Approved applicants are eligible for an unsecured credit limit between $350 and $1,000 that they can draw on through the annual resting period that begins on January 27. Borrowers who pay their line balance down to zero by the paydown date of February 15, retain their account in good standing and meet other applicable approval conditions may maintain their line of credit year-round.

“H&R Block saw an opportunity 11 years ago to provide consumers with access to a year-round line of credit to improve their financial situation,” said Greg Steinlicht, Vice President of H&R Block Financial Services. “We’re happy to continue to provide this valuable credit option to consumers and assist further by loading the draws on their H&R Block Emerald Prepaid Mastercard®.”

How to apply for Emerald Advance line of credit

The Emerald Advance is originated by BofI Federal Bank. Upon application, the bank will determine approval based on standard underwriting criteria. Since draws from the Emerald Advance are loaded to the consumer’s Emerald Card Account, approved applicants typically leave the office with the first draw already loaded and ready to spend as they see fit.

To apply for the Emerald Advance, clients must bring a current earnings statement, valid, unexpired government-issued photo identification (e.g., a driver’s license) and their Emerald Card if they have one, to a participating H&R Block tax office.

Monthly payments of $25 or 4 percent of the outstanding balance, whichever is greater, are required. In addition, the balance must be paid down to zero by February 15 each year. Payments on the Emerald Advance can be made by check, debit card or their Emerald Card. Cash payments are also accepted at various merchants though the merchants may assess a fee for such services. Though not available for monthly payments, clients who return to H&R Block for tax preparation may choose to direct a portion of their tax refund to pay their balance down to zero by February 15.

“As consumers begin to plan for end-of-year expenses, holidays and other financial needs, the Emerald Advance provides consumers with a valuable option for achieving greater financial freedom,” says Steinlicht.

For additional details, visit the Emerald Advance website. Consumers wishing to make an appointment to apply or just locate a participating office can find an H&R Block location near them online or by calling 800-HRBLOCK.


About H&R Block

H&R Block, Inc. (NYSE: HRB) is a global consumer tax services provider. Tax return preparation services are provided by professional tax preparers in approximately 12,000 company-owned and franchise retail tax offices worldwide, and through H&R Block tax software products for the DIY consumer. H&R Block also offers adjacent Tax Plus products and services. In fiscal 2017, H&R Block had annual revenues of over $3 billion with 23 million tax returns prepared worldwide. For more information, visit the H&R Block Newsroom.

About BofI Federal Bank

BofI Federal Bank is a federally chartered, FDIC insured, full-service bank that provides a wide variety of deposit accounts, as well as financing for single and multifamily residential properties, small-to-medium size businesses in target sectors, and select specialty finance receivables. With approximately $8.6 billion in assets, BofI Federal Bank provides consumer and business banking products through its low-cost distribution channels and affinity partners. BofI Holding, Inc. (NASDAQ: BOFI) is the holding company for BofI Federal Bank.  BofI Holding, Inc.’s common stock is listed on the NASDAQ Global Select Market under the ticker symbol BOFI and is a component of the Russell 2000® Index and the S&P SmallCap 600® Index. For more information regarding BofI Federal Bank, please visit www.bofifederalbank.com.

H&R Block Emerald Advance® line of credit and H&R Block Emerald Savings® offered through BofI Federal Bank, Member FDIC. H&R Block Emerald Prepaid Mastercard® issued by BofI Federal Bank pursuant to a license by Mastercard International Incorporated. All products subject to ID verification. Line of credit subject to credit and underwriting approval. Fees apply.  Products offered at participating offices. Promotional period 11/16/2017 – 12/29/2017. Emerald Financial Services, LLC is a registered agent of BofI Federal Bank. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated. Emerald Advance is a tax refund-related credit product and Emerald Card is a tax refund-related deposit product. ©2017 HRB Tax Group, Inc.