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H&R Block tax refund advance review

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Borrow up to $3,500 with 0% APR financing.

  • Best for individuals expecting a large refund up to $3,500 who don't want to pay interest.
  • Pick something else if you want to apply online.

Yes

Tax preparation fee

0%

APR

February 29, 2020

Application deadline

Details

Product nameH&R Block Tax Refund Advance Loan
Maximum advance amount$3,500
Minimum advance amount$250
APR0%
TurnaroundAs soon as the same day
Tax preparation feeYes
Application deadlineFebruary 29, 2020
RequirementsSufficient tax refund, appropriate ID

Expert review

Kellye Guinan

Review by


Kellye Guinan is a writer and editor with Finder and has years of experience in academic writing and research. Between her passion for books and her love of language, she works on creating stories and volunteering her time on worthy causes. She lives in the woods and likes to find new bug friends in between reading just a little too much nonfiction.

Expert review

H&R Block has one of the better tax refund advance deals out there. It offers the largest advance amount — up to $3,500 — with no interest. And the deadline to apply isn’t until the very end of February.

However, the process is far from transparent. H&R Block doesn’t list any tax preparation fees you may have to pay, and you’ll need to call ahead to make sure you have the information you need to apply. You also won’t be able to apply online, which means taking the time out of your day to visit an H&R Block branch.

Need to borrow more than $3,500? Compare your personal loan options instead.

H&R Block tax refund advance requirements

H&R Block only lists one basic requirement: You must have a large enough tax refund from the IRS. However, you’ll be required to meet additional eligibility criteria to be approved for the advance, which is funded by Axos Bank. Your tax preparation specialist will go over these with you when you visit an H&R Block branch.

How H&R Block’s tax refund advance works

You won’t pay interest on your refund advance, and funds are placed onto an Emerald Prepaid Mastercard. You can apply at an H&R Block branch from January 4 to February 29, 2020. There are five loan amounts available — $250, $500, $750, $1,250, $3,500 — and you’ll repay it by check, direct deposit or with your prepaid debit card when you receive your tax refund from the IRS.

How much does it cost?

You won’t pay any interest or fees on your refund advance loan — the APR is 0%. But there will be a tax preparation fee to file your taxes through H&R Block, which can be deducted from your final refund. Any other fees you may owe aren’t stated on its website, so be sure to discuss them with your H&R Block tax adviser before agreeing to a loan.

How do I apply?

You can only apply by meeting with a tax adviser in person at an H&R Block location. Follow these steps to get started:

  1. Visit an H&R Block branch to start the loan process.
  2. Apply for a tax refund advance loan through Axos Bank.
  3. Wait for an approval notification through text or email.

You may receive an approval decision and funding on the same day you apply. If approved, your loan funds will be available on a prepaid Mastercard — the H&R Block Emerald Card.

What documents do I need to apply?

H&R Block doesn’t list any specific documents you should bring with you when you apply for a tax refund advance. However, it does state you will need to bring appropriate identification — call ahead to see what types of identification qualify.

So, what’s the catch?

Keep these potential drawbacks in mind before taking out a tax refund advance through H&R Block:

  • No online application. You’ll need to set up an appointment with an H&R Block tax specialist to start the loan process.
  • Not transparent. The application process and potential tax preparation fees aren’t listed online. If you want more information, you’ll need to call or visit an H&R Block branch.

Will applying affect my credit?

Possibly — Axos Bank may do a hard pull of your credit when you apply for the advance, which can lower your score by a few points.

3 tax prep sites like H&R Block

Refund advance amountAPRTax preparation feeDeadlineOnline application
Intuit TurboTax$250 to $2,0000%VariesFebruary 7, 2020 — or until funds run outYesRead review
Jackson Hewitt$200 to $3,2000%Starts at $48February 23, 2020NoRead review
Liberty Tax Service$500 to $6,25035.99%Not statedFebruary 28, 2020NoRead review

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