In today’s world, if you live from one paycheck to another, it is hard to survive. This is where apps like Moneylion come to the rescue. These apps help you make ends meet by providing you with cash advances ahead of your payday. If you have used Moneylion and are searching for other similar apps, I will provide you with some options.
Moneylion is a cash advance app that provides you with loans and cash advances before your payday. It lets you borrow up to $250 without any interest. Above that, you can borrow up to $1000. However, you have to pay interest on it. While Moneylion has perks like easier access to funds and helps in building creditworthiness. It also has disadvantages like higher interest rates.
While Moneylion is a great cash advance app, it is not the only one. In this article, I have curated a list of apps like Moneylion that will not only let you take cash advances but will also provide loans at a nominal interest.
11 Similar Apps like Moneylion to Get Cash Advances
Apps like Moneylion can be a great solution to your money problems. These apps give you an option of withdrawing money from your paycheck before the payday. You can also keep a track of your earnings and your expenditure. Keeping all these things in mind, I have curated a list of similar apps like Moneylion. Scroll down and find out the app best suitable for you.
In this list of apps like Moneylion, Dave takes a prominent place. Dave lets you get an advance up to $100 and does not charge any fee for it. It permits you to take an advance up to two days before your payday. Dave has partnered up with LevelCredit and reports your payments to credit bureaus. This helps in building and improving your credit score. Dave charges you $1 for a monthly subscription.
Advantages of Using Dave
- Prevents overdraft fees.
- You get a customized plan to help with budgeting.
- The payments can either be manual or automatic.
- There is no charge for late payments.
Disadvantages of Using Dave
- You can get a maximum advance of up to $100.
- You can only get one advance for each pay period.
Earnin is another great app like Moneylion. There are many apps that are like Earnin, but none of the work better than it. Earnin works as a great alternative for Moneylion. It is a cash advance app that does not charge a lot of fees. Earnin created the Balance Shield Alerts that notify a user when the bank balance is between the range of $0-$100. It also introduced Balance Shield Cash Outs which enables a user to cash out up to $100 when the balance is below $100.
Advantages of Using Earnin
- There is no fees.
- You can get instant funding without any hassle.
- Earnin works in all 50 US States.
- It can help to lessen the medical bills.
Disadvantages of Using Earnin
- You have to pay tips instead of a particular fee which can create a mess.
- There is no work-from-home facility.
Brigit is one of the best apps on the list of apps like Moneylion. This app lets you borrow money and helps you to build your credit score. The maximum cash advance you can get is up to $250. The best part is that you can get this advance without paying any interest. There are two types of monthly subscriptions for Brigit- a free subscription and a paid subscription for $9.99. While the free subscription is good, the paid one offers more options.
Advantages of Using Brigit
- Prevents overdraft fees
- Helps you track your budget.
- You also get an option for credit monitoring.
- You can extend the repayment date without any hassle.
Disadvantages of Using Brigit
- It does not support pay schedules that are irregular.
Avant is another great option in the list of apps like Moneylion. The mobile app for Avant is available for both iOS and Android. Avant Credit was founded in 2012 and is a financial technology company. The company gives cash advances to its users by determining their creditworthiness. It also lets the users see their upcoming payments and track their payment history.
Advantages of Using Avant
- You can select if you want a secured or unsecured loan.
- It only accepts borrowers that have creditworthiness.
- The repayment terms are very flexible.
Disadvantages of Using Avant
- An administrative fee is charged.
- There are some lawsuits against this firm.
Also, read How To Apply For A Loan With Bad Credit 2022
Chime is an amazing app. It is one of the few free apps like Moneylion. You can take an advance of up to two days before your payday. Chime is different from Moneylion because It offers you a debit card at the time of signing up. You also get the option of setting up a Savings Account to save money.
Advantages of Using Chime
- If you qualify for Chime’s SpotMe program, you get protection from overdraft.
- There is no late fee charged.
- Chime lets you build credit.
Disadvantages of Using Chime
- Only provides cover for debit card purchases.
- The start is only with a $20 advance.
6. Empower Cash Advance
Empower is a great alternative to Moneylion. It is one of the best apps on the list of apps like Moneylion. It is a cash advance app that lets you take an advance from your future deposit. There is no late fee or interest charged. However, Empower can take some amount from your account until the entire advance you have taken is repaid.
Advantages of Using Empower
- You get 14 days of free trial.
- You get free coaching regarding finances.
- Funds are delivered instantly once you qualify.
Disadvantages of Using Empower
- There is a monthly fee charged.
- You cannot select the amount of cash advance.
7. Ingo Money
A worthy addition to the list of apps like Moneylion is Ingo Money. It lets you access paychecks, personal checks, and business checks anytime. It also has a provision for getting money in your banks and PayPal account. Ingo Money lets you take a certain amount out of your account before the payday. It is a trusted and safe cash advance app.
Advantages of Using Ingo Money
- You can get your money deposited into various accounts.
- There are no cashing lines for checks.
- There are no deposit holds.
Disadvantages of Using Ingo Money
- Some terms and conditions are applicable.
- You need to take a photo of the front and back of your checks to get it reviewed.
While MoneyLion provides you loans without checking your credit score, it has many other terms to fulfill. If you want to borrow money but don’t want to use MoneyLion, there is an alternative app called Possible Finance. It is known for lending loans for shorter time periods. Possible Finance lets you borrow up to a limit of $500
Advantages of Using Possible
- There is no credit check.
- Helps you build your credit.
- The customer service is good.
Disadvantages of Using Possible
- You need to have a checking account.
- This is not a payday advance app.
DailyPay partners up with companies and integrates with their payroll. It is one of the best apps like Moneylion. DailyPay markets with the employers. The employees are allowed to access their wages before their payday. This means that each working hour that contributes to the salary can be cashed out before the payday. An employee can access their DailyPay balance with a fee of $1.99.
Advantages of Using DailyPay
- DailyPay lets you access your income before the payday.
- It keeps a record of how much you have earned simultaneously.
- You can withdraw your balance with a nominal fee of $1.99.
Disadvantages of Using DailyPay
- It does not support irregular pay schedules.
- The fee charged is higher compared to other apps.
- Must be in partnership with your company to work
Also, read Best Small Personal Loan Banks in the US
PayActiv is one of the few free apps like Moneylion. You can withdraw your paycheck before the payday via PayActiv. This app gives you an option to withdraw up to $500 from your balance. However, one thing that you must keep in mind before using this app is that PayActiv must be in partnership with your company. If PayActiv does not have access to your company’s payroll, you won’t be able to use it.
Advantages of Using PayActiv
- You can access your income before the payday.
- Keeps a record of your earnings.
- You get a prepaid card when you sign up.
Disadvantages of Using PayActiv
- Your credit score is impacted if you don’t repay the loan on time.
- Only works if it is in partnership with your company.
Also, read Dos and Don’ts When Getting A Personal Loan
Other apps like Moneylion is FlexWage. It works like PayActiv and DailyPay. FlexWage not only offers you some amount from your paycheck but also provides some additional features. FlexWage can only be used if it is in a partnership with your company. Similar to the other apps, it needs access to your company’s payroll.
Advantages of Using Flexwage
- Lets you access your income before the payday.
- Keeps a record of how much you have earned.
- Flex Pay- Service offered by FlexWage that lets you gain access to one-time compensations like bonuses, tips, etc.
- Pay Card- A prepaid debit card.
Disadvantages of Using Flexwage
- It should be in partnership with your company for you to be able to use it.
It is time to wrap up! In this article, I have shared with you a list of apps like Moneylion. My personal favorite among these apps is Avant and Dave. These two apps give you a lot of flexibility while working and you can easily trust them with your money.
I hope this list helped you. If you have used any other apps like Moneylion, do let me know in the comments below. For more such content, keep visiting Path of EX.