Personal loans are a better option than payday loans, but that doesn’t mean every business is trustworthy. Some companies are still out to scam you out of getting the help you need while claiming your hard-earned money for themselves. How can you avoid getting sucked into their empty promises?
Consider using MoneyLion, a full-service app and personal loan company that has been featured in Forbes magazine and other reputable sources. This review talks mainly about what you receive with a MoneyLion personal loan but also looks at what the innovative app can do for your financial wellness.
What Is MoneyLion?
Signing up with MoneyLion gets you much more than access to loans, but instead brings the experience of interactive and progressive banking to you from online. It’s a full-featured service that focuses on helping their clients build financial stability and learn healthy spending and saving habits while assisting in monitoring your credit.
While they do offer loans, MoneyLion is much more than just a place for quick cash. To get the full experience with the incredible app, you should become a Plus member, to receive all the incredible benefits that save your credit and help you save up and avoid overdrafts.
Let’s talk about what MoneyLion personal loans are like before we move on to the rest of this amazing service.
If you are a MoneyLion Plus member, you will have access to better rates, faster cash, and advanced reward systems for a monthly subscription price. We talk more about the MoneyLion Plus app and membership features later on.
How Can You Apply For MoneyLion Loans?
If you aren’t a MoneyLion Plus member, getting approved for a personal loan is a bit harder than it would be at smaller businesses. MoneyLion has firmed requirements to ensure they stay a helpful, long-lasting company. Even if you don’t qualify now, you will get better offers as a member of the app.
To get approved for a MoneyLion personal loan, you’ll need to meet these requirements:
- Legal resident in the USA
- 640 or higher credit score
- Minimum income of $36,000
- Valid checking account in your name
- $1,000 – $35,00 range
- APR starts at 5.99% and goes up from there
- Maximum 3-year loan term
- NO, prepay fee for paying off your loan early
- Origination fee up to 6% taken out immediately
- Stricter approval guidelines
- Live in a state where MoneyLion works out of*
*MoneyLion is available in 45 states, excluding Vermont, Colorado, West Virginia, New York, and Connecticut
Applying can be done easily online, and the customer support staff is readily available to help walk you through the standard application process.
Check Out MoneyLion Plus!
In addition to offering financial services and personal loans, MoneyLion Plus is an amazing cash advance app fully equipped to provide you with endless help on having the best financial circumstances as possible. Seriously, this app sets the bar for others of it’s kind and can be used for so much more than quick, easy money.
MoneyLion Plus has tons of things included in the app, but some of the best features are:
- Cash advances up to $500 with low rates
- Daily tip cards and features for financial monitoring and assistance
- $1 cash-back every day you log in
- A savings account system used as collateral for loans and advances
- Much looser requirements for cash advances
- Credit building help
For those wanting more than just a loan and are willing to pay a monthly price of $25 for everything MoneyLion Plus has to offer, it’s a steal of a deal, and at least worth checking out. The app is available on both Apple and Android devices, as well as accessible online.
Will MoneyLion Work For You?
From personal loans to customized financial assistance and easy cash advances, MoneyLion is a huge company with tons of resources and ways to access them. They aren’t the cheapest and have some additional fees that make the low APR less tempting, but they’re trustworthy and have built an amazing client base of over 2,000,000 people.
For some excellent MoneyLion alternatives visit the best payday loan companies on our list and explore your options.Visit MoneyLion
Need money fast? Emergencies can happen at any time, and quick access to cash might be necessary. This MoneyLion alternative lets you get a cash loan as soon as one hour. Once you submit your application it is received by an extensive network of lenders, and some of them reply within minutes.
If the loan is approved, you will be sent to the lender’s website so you can review all the details, rates, fees, and any other relevant information. After you agree with them, the money will be deposited into your bank account.
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By using an incredibly straightforward application process, you can be minutes away from registering for a new loan. The way this is done is similar to other sites like MoneyLion, where you are matched with independent, third-party lenders based on what you are looking for.
You can select between a payday loan, or an installment loan, each one having its own set of conditions ad rates which will be sent for your agreement if the loan is approved. Just fill out the application form, and wait for the lenders to reply with their offers.
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Another one of the best payday loan companies like MoneyLion for cash loans is ExtraLend, where consumers are matched with lenders across the country. Your basic information and amount you wish to borrow are forwarded to them so that you can receive a suitable loan offer.
There is no obligation to accept these offers and nothing will happen until you provide your electronic signature in the loan agreement. One advantage is that your credit history is not a critical issue in most cases since there are alternative credit checks performed by companies like DP and TeleTrack.
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Affordable personal cash loans are unlocked here. The difference, when compared to other cash loans like MoneyLion, is that they focus more on your financial potential instead of your past. There are several factors considered with your application; job history, economic history, income and credit behavior are some examples.
To expedite the approval process, it is recommended to have proof of income and employment, your most recent bank statements and a check that has been voided, and a government-issued ID or driver’s license on hand.
To know more about LendingPoint: 7 Great LendingPoint Loans Alternatives
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Blue Trust Loans
For a better alternative to payday loans, apply for an installment cash loan instead. If you can provide a verifiable source of income, have an open checking account, are a US citizen at least 18 years old and are not currently a debtor in a bankruptcy case you can apply.
Fill out an online form and if you are approved, you can eSign the loan documents right away. If you pay on time and are in good standing, you can join the Club Blue and gain access to higher loan amounts, longer loan terms, and lower rates.
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Like some websites like MoneyLion, cash-advance-loans is not a lender and doesn’t make loans; instead, it connects you with lenders through a simple process. After you send your application, it is encrypted and forwarded to authorized lenders to approve. Instead of visiting several websites and sending applications at each one, you can use this one and have your request viewed by many lenders at once.