Check Into Cash is a bad credit lender that offers payday loans from $50 to $1,500 and installment loans as high as $5,000. It can get you a loan as soon as the same day if you apply at a location — or within 1 to 2 business days if you apply online. But with a low maximum loan amount, limited state ability and fees equivalent to APRs as high as 1,000%, another short-term lender — or cash advance app — could be a better choice.
Chime doesn't offer loans, but if your main concern is having to pay overdraft fees each month, this online bank may have a solution for you. Chime's SpotMe is a no-fee overdraft feature that provides up to $200 to cover overdrafts to your Chime Checking account. To qualify, you need to make a monthly direct deposit of $200 or more into your Chime checking account and activate your Chime debit card.
SpotMe only covers overdrafts caused by ATM or debit card transactions and starts with just $20. You can raise this limit with regular deposits and a solid account history, by qualifying for promotional bonuses offered by Chime or by using SpotMe Boost, a program that allows existing members to boost each other's SpotMe feature.
Chime is a financial technology company, not a bank. Banking services provided by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC. Direct deposit: Early access to direct deposit funds depends on the timing of the submission of the payment file from the payer. We generally make these funds available on the day the payment file is received, which may be up to 2 days earlier than the scheduled payment date. SpotMe: Chime SpotMe is an optional, no fee service that requires a single deposit of $200 or more in qualifying direct deposits to the Chime Checking Account each at least once every 34 days. All qualifying members will be allowed to overdraw their account up to $20 on debit card purchases and cash withdrawals initially, but may be later eligible for a higher limit of up to $200 or more based on member’s Chime Account history, direct deposit frequency and amount, spending activity and other risk-based factors. Your limit will be displayed to you within the Chime mobile app. You will receive notice of any changes to your limit. Your limit may change at any time, at Chime’s discretion. Although there are no overdraft fees, there may be out-of-network or third party fees associated with ATM transactions. SpotMe won’t cover non-debit card transactions, including ACH transfers, Pay Anyone transfers, or Chime Checkbook transactions. See Terms and Conditions.
Pros
No fees or tipping obligation
Low monthly direct deposit requirement of $200
Cons
Overdraft limits start at $20 and max out at $200
Must use with Chime Checking account and debit card
Overdraft only covers debit card purchases and ATM withdrawals
Where its competitors make you wait three to five days between advances, Cleo allows you to request a new advance only one day after paying off your previous advance. The easiest way to request a $20 to $250 advance is through the app, which requires a $5.99 monthly advance, but you can request an advance through Cleo customer service for free.
Cleo also offers financial management tools with your monthly subscription and a credit building service for a $14.99 subscription that includes a secured credit card with reporting to all three credit bureaus.
Available in all states
Pros
New advance available 24 hours after payoff
One-time due date extension
Budgeting and saving tools through app
Build credit with Credit Builder subscription
Cons
$5.99 to $14.99 monthly subscription fee
Non-subscribers must contact customer service to apply for cash advances
$3.99 express fee for same-day funding
Loan amount
Up to $250
Loan Term
Varies
Turnaround time
3 to 4 days standard transfer. Same day with $3.99 express fee.
Loan amount
$20 - $250
Turnaround time
3 to 4 days standard transfer. Same day with $3.99 express fee.
Albert is a banking app and cash advance app with a range of features, including checking, savings and investment accounts. It offers cash advances up to $250, and its Genius service offers AI-powered, human-backed financial and investment advice for a membership fee between $14.99 and $16 per month.
But to get cash advances, you need to sign up for a free 30-day trial of Genius. But with no phone support, users have reported it's tricky to cancel the service. This makes Albert best for users who want the Genius service as part of their cash advance app experience, along with Albert's other banking features.
Brigit is a cash advance app that offers advances up to $250 per pay period. While it costs $8.99 a month, it offers overdraft protection by connecting with your bank account and sending free advances when you're running low on cash. But where most apps make you repay the advance from your next check, Brigit is more flexible, allowing you to extend up to three times.
Because its monthly fee is a bit pricey compared to some apps, Brigit is best for people who regularly need to borrow between paychecks and want Brigit's other benefits, which include a credit builder program and $1 million in identity theft protection. Since it's not a payday loan, it's available in all 50 states.
OppLoans is an online installment loan provider that offers relatively low rates and terms compared to other bad credit installment loan providers like Check Into Cash. And unlike Check Into Cash, it reports repayments to credit bureaus to help you build your credit. But its APRs can reach up to 160%.
With OppLoans, you must meet the minimum monthly income requirement to qualify, which varies from state to state. And because it doesn't offer loans under $500, OppLoans is best for people who need a larger loan than what's available through a cash advance app and need a longer timeframe to pay it back.
Not available in: Colorado, Connecticut, Georgia, Iowa, Maryland, Massachusetts, New York, South Dakota, Vermont, West Virginia
Cash App Borrow is a pilot feature of Cash App currently available to select users. If you're chosen, you can access cash advances up to $200 — but for a 5% finance fee. While eligibility requirements aren't totally clear, Cash App states you need to use its app frequently and have a Cash Card.
It appears that having regular direct deposits from an employer may not be required to get access to the Borrow feature. This could make it useful for gig workers who get paid in cash. But you need to activate and use a Cash App card to increase your chances of getting access to Borrow.
MoneyLion is a banking and cash advance app that offers no-fee, interest-free cash advances up to $500 per pay period. This feature is called Instacash, and the amount you can borrow depends on your direct deposit activity, either from an employer or government benefits — but it could take up to eight weeks to unlock your full amount.
MoneyLion also offers a bank account called RoarMoney, an investment account and a credit building program for $19.99 a month. By opening a Roar Money account or signing up for the paid credit builder program, you can potentially increase the your advance amount beyond $500 per pay period. But some users have complained about app glitches, expensive instant transfers and repeated requests for tips.
Available in: Alabama, Arizona, California, Delaware, Florida, Georgia, Idaho, Illinois, Kansas, Louisiana, Maryland, Michigan, Missouri, New Mexico, North Dakota, Oklahoma, South Carolina, South Dakota, Texas, Utah, Washington, Wisconsin, Wyoming
Pros
No paid membership required for advance
Offers a banking and investment account
Can increase the advance amount
Cons
A pattern of customer complaints
Users complain of high instant transfers fees
Must sign up for extra services to get higher advances
Loan amount
Up to $500 or $1,000 with RoarMoney account
Loan Term
Due by your next pay date
Turnaround time
Up to 5 days or instant for a fee of $0.49 to $8.99
Loan amount
$50 - $500
Turnaround time
Up to 5 days or instant for a fee of $0.49 to $8.99
Possible Finance is an online installment loan lender that offers loans up to $500, which you can pay back over four installments spanning as long as two months. Unlike most short-term lenders, Possible Finance reports your payments to two of the three credit bureaus, Experian and TransUnion, which can help boost your credit score.
But APRs run high, reaching up to 460% — making Possible Finance more expensive than using a cash advance app, though less expensive than Check Into Cash. And some users report drops in their credit scores when taking out more than one loan a year. But using Possible Finance for a one-time, emergency loan could help boost your credit score as you repay your loan.
Available in: Alabama, California, Delaware, Florida, Idaho, Indiana, Iowa, Kansas, Kentucky, Louisiana, Michigan, Mississippi, Missouri, Ohio, Oklahoma, Rhode Island, South Carolina, Tennessee, Texas, Utah, Washington
See how other top providers compare to different lenders by checking out A-to-Z directory. Or, visit our guide to $50 loans for more small-dollar lenders.
Kat Aoki is a personal finance writer at Finder, specializing in consumer and business lending. She’s written thousands of articles to help consumers make better decisions on their home loans, bank accounts, credit cards, cryptocurrency and more. Kat is well versed in working with leading brands in the real estate, mortgage and personal finance industries, and her expertise has been featured on Forbes Advisor, Lifewire and financial comparison sites like iSelect and realestate.com.au. She holds a BS in business administration from California State University, Sacramento and enjoys hiking and yoga in her spare time.
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