Today I am going to be reviewing the best 5 apps like Moneylion that can help you solve your immediate cash emergencies when you are hit with unexpected bills that cannot wait for payday that is still days ahead.
With 64% of Americans living paycheck to paycheck, apps like MoneyLion are growing in popularity by offering interest-free cash advances with a range of extra features including no overdrafts or hidden fees. The average American pays $250 a year in overdraft fees, according to the Consumer Financial Protection Bureau. To help solve this problem, many reputable cash advance apps have evolved in recent times to offer payday advances to workers, enabling them to essentially borrow money from their future — wealthier — selves.
While MoneyLion breaks down traditional barriers to financial health and provides instant cash to hard-working Americans, it’s not the only cash advance app available to provide funds.
What is the MoneyLion Application?
The MoneyLion App is a mobile application that allows free of a charge cash payments of up to $250 through Instacash. This application is among the leading cash advance applications.
This application suits you better when you have an unusual work situation. When and if you need money before your paycheck arrives, the MoneyLion app is for you.
Obviously, there are certain requirements that need to be fulfilled in order for you to qualify for the $250 cash payment. You would have to pay for the amount back when the due date arrives after your next deposit.
Top 5 Apps like Moneylion for Small Cash Advances 2023
Apps like MoneyLion provide extra cash to cover your unplanned bill and unexpected expenses until your next paycheck. Such apps include: Brigit App, Dave App, Chime App, Earning App. These lending applications have highest yields, charge zero overdraft fees, and loan processing take just a few minutes.
1. Brigit App
Brigit is reputed as one of the best apps like MoneyLion and usually referred to as a financial health app, offering cash advance service among others of up to $250 with no interest and a Credit Builder account.
You can either get your cash advance for free in two to three business days or pay a fee for Express Delivery. The Credit Builder account sets you up with a 24-month installment loan and reports your on-time monthly payments to all three major credit bureaus to help improve your credit score.
Brigit also provides services such as budgeting, analyzing your spending, and also comes with a Plus membership of $9.99 monthly to access most of their services. Brigit will automatically advance your money if it thinks you’re in danger of overdrawing your account.
2. Dave App
If you’re considering patronizing reputable alternative apps like Moneylion, Dave, a unique platform that gives $100 to $500 in advance cash to customers and borrowers is a good option.
Dave app is free to download and fast and easy to set up, and you may be eligible for a Dave cash advance for as much as $500 as soon as you sign up! Dave looks at a number of factors, including how long until your next payday, your history and spending patterns, and how much is deposited into your bank account each month. There is no credit check, so don’t worry if your credit score isn’t where you want to be.
Once approved, Dave gets your funds to you nearly instantly (seriously, like in under a minute!) via the Dave Debit MasterCard; there is a $1.99 – $9.99 express fee depending upon the size of your advance.
3. Chime App
Chime is another reputable app like Moneylion that offers a spending account using your debit card, along with access to a myriad of credit-building tools.
The Chime app is actually considered the most direct and one of the best alternative apps like MoneyLion. It is essentially a banking services provider application but has a lot of other benefits compared to a conventional bank. This app is slightly different from other applications as it doesn’t offer on-demand loans or cash advances to the users. However, the app does offer its users free overdraft protection of up to $200 that can be managed through a Chime debit card.
SpotMe is a program Chime created and users must qualify for SpotMe by having a direct deposit of at least $200 put into their account by an employer, payroll provider, gig economy payer, or government benefits payer.
4. Earnin App
With Earnin, an alternative app like MoneyLion, you can get interest- and fee-free cash advances of up to $500 per pay period while waiting for your next paycheck. You’ll receive low-balance alerts and can get up to $100 of your earnings transferred automatically when your linked bank account balance is low, helping you avoid overdraft fees.
While there are no fees with Earnin, you can include a tip with your payment — but it’s not required. Earnin doesn’t check your credit, but you need a steady paycheck, direct deposit into a checking account and a fixed work location to use the app.
5. AfterPay App
The application’s name, AfterPay, suggests what it does. This app just like MoneyLion, allows users to buy something and pay for it later. The remaining amount can be paid later in four equal installments while you get the delivery after you have paid the first.
Furthermore, the application is equipped with some of the most amazing features. This means that you don’t have to worry about rising mortgage rates or do some other stuff to make ends meet. Also, the remaining installments can be easily paid.
Apps like MoneyLion provide extra cash to cover your cash emergencies and unexpected expenses until your next paycheck. Such apps include but not limited to Brigit App, Dave App, Chime App, Klover App and Earning App among others. These apps have highest yields, charge zero overdraft fees, and loan processing are generally instant.