Navigating the world of cash advances can be daunting, but Brigit is here to help simplify the process. In this comprehensive Brigit Review for 2024, we’ll dive into everything you need to know about this popular cash advance app—from paycheck advances and budgeting features to credit-building tools and user experiences.
- Brigit is a cash advance app that provides paycheck advances and short-term loans ranging from $20 to $250 to help users avoid overdraft fees.
- It offers several features, including credit-builder loans, overdraft protection, budgeting assistance, and finding savings opportunities.
- A monthly subscription fee of $9.99 is associated with some of its services but does not charge any interest on its cash advances or tips required.
- With positive customer satisfaction ratings and responsible lending practices in place, Brigit serves as an excellent financial safety net option for that living paycheck-to-paycheck and faced with unexpected expenses.
What Is Brigit?
Brigit is a cash advance app that offers paycheck advances and short-term cash loans to help users avoid overdraft fees and break the cycle of living paycheck to paycheck.
Paycheck Advances
As a cash advance user, you understand the importance of having quick access to funds when unexpected expenses occur. Paycheck advances can be a lifesaver in these situations, providing a financial cushion to cover emergencies or other unanticipated costs until your next paycheck arrives.
For example, imagine you have an urgent car repair bill that must be paid immediately but don’t have enough saved up for it. Thankfully, with Brigit’s cash advance service ranging from $20 to $250, as mentioned earlier (Fact 3), you could get immediate access to those funds without turning to payday loans or loading up credit card debt.
The flexible repayment terms allow for greater peace of mind since the platform will automatically withdraw the amount owed on your determined payday (Facts 5 and 6).
Short-term Cash Loans
Short-term cash loans, like the ones offered by Brigit, provide a quick and convenient solution for individuals in need of immediate financial assistance. These loans are designed to help cover unexpected expenses or bridge the gap between paychecks when money is tight.
One of the main benefits of short-term cash loans through Brigit is their commitment to responsible lending practices. They determine your eligibility for a loan based on your bank account activity and give you a score from 0 to 100, with users needing a score of 40 or higher to qualify for an advance.
By assessing each user’s financial health before extending credit, Brigit ensures that borrowers have the means to repay their loans without falling into debt traps or experiencing overdraft fees.
How Does The Brigit App Work?
Read on to find out how Brigit operates, including eligibility requirements, deposit and withdrawal procedures, interest and fees, and all of its cash management services.
Eligibility Requirements
Navigating the eligibility requirements for Brigit’s Instant Cash Advance can be essential for cash advance users seeking financial assistance. Here are the key criteria to qualify:
- Maintain an active checking account with at least 60 days of activity.
- Ensure a bank account balance greater than $0.
- Receive three recurring deposits from the same source into your checking account.
- Reviewing your bank account information determines a Brigit score of 40 or higher.
By meeting these requirements, you’ll be well on your way to accessing Brigit’s cash advances and improving your financial situation.
Deposits And Withdrawals
As a cash advance user, it’s important to understand how deposits and withdrawals work with the Brigit app. First off, before you can request an advance, you’ll need to have an active checking account with at least 60 days of activity and three recurring deposits from the same source.
If you choose not to pay a funding fee, it may take 1-3 business days for your funds to arrive in your account after withdrawing. However, if you need quick access to your money, Brigit does offer a Fast-Funding option for a small fee.
Overall, I’ve found that refunds and withdrawals are pretty straightforward with Brigit – just make sure you meet their eligibility requirements first!
Interest And Fees
As a cash advance user, it’s essential to understand the fees and interest rates associated with borrowing from Brigit. One of the best things about Brigit is that no interest charges or tips are required for its cash advances.
However, there is a monthly subscription fee of $9.99 for users who want to access this service.
Brigit does not charge overdraft fees; however, failing to repay your loan on time may result in late payment fees from your bank account provider. The credit-builder loan has the same $9.99 monthly fee as the paycheck advances but also includes small installment loans up to $3000 over six months and reports positive payments to all three major credit bureaus (Experian, Equifax, TransUnion) without any interest charged during repayment periods.
Overall, Brigit offers excellent value with its low-cost subscriptions and easy accessibility compared to other financial wellness companies with costly overdraft fees and strict loan limits – making it an ideal safety net option that could help break out of a paycheck-to-paycheck cycle due to unexpected events affecting their finances such as emergency expenses or late bills.
Brigit App Features
The Brigit app offers a variety of features such as cash advances, credit-builder loans, overdraft protection, budgeting assistance, and help to find savings opportunities; read on to learn more about how these features can improve your financial wellness.
Cash Advance
If you are in a tight financial situation and need cash quickly, Brigit offers a cash advance option ranging from $20 to $250. This is helpful for those who live paycheck to paycheck and may need a little extra assistance before their next payday.
The repayments are flexible and designed to prevent overdraft fees, so you can have peace of mind knowing that there won’t be any surprise charges. However, it’s important to note that the repayment terms come with interest rates and fees attached, so it’s crucial to weigh the costs carefully before taking out an advance.
Credit-builder Loan
As a cash advance user, one feature of the Brigit app that you may find interesting is their credit-builder loan. This allows subscribers to apply for an installment loan of up to $600 with no interest and low monthly payments of as little as $1.
The effectiveness of this feature is rated at 4 out of 5 by reviewers, making it a great way for those in low-income situations or those who live paycheck-to-paycheck to improve their financial health.
However, there is a monthly fee of $9.99 associated with this feature, and users must have a bank account open for at least 60 days before they can qualify for the loan.
Overdraft Protection
As a cash advance user, I know overdraft fees can be a real pain. Luckily, Brigit offers overdraft protection to their users by analyzing checking accounts to determine if an advance is necessary to cover expenses before the next payday.
This feature prevents overdraft fees and allows users to access paycheck advances of up to $250 without charging interest or requiring tips. Plus, Brigit tries not to cause an overdraft fee when it takes repayment and offers repayment flexibility.
Budgeting Assistance
As someone who has relied on cash advances in the past, I know how difficult it can be to get back on track with your finances. That’s why one of my favorite features of the Brigit app is its budgeting assistance tool.
The Finance Helper feature helps users monitor their earnings and expenses, giving them a better understanding of where their money is going each month.
In addition to helping you manage your existing finances, Brigit also offers advice on how to increase your income through job opportunities and other savings initiatives.
Whether it’s finding a part-time gig or participating in online surveys for cash rewards, Brigit is always looking out for ways to help you stay financially healthy.
Help Finding Cash And Savings
As someone who has used cash advance apps before, I know how difficult it can be to make ends meet at times. That’s why I appreciate Brigit’s help in finding extra sources of income and savings opportunities.
But Brigit doesn’t stop there. Its Finance Helper feature helps users monitor their earnings and expenses to find ways to reduce monthly spending. And for paying subscribers, the app even offers a credit-builder loan of $600 with a 24-month installment plan to help improve overall financial health.
My Experience with Using Brigit Cash Advance
I remember when I was planning my best friend’s surprise birthday party. I was in charge of everything, from the venue to the cake. I had budgeted for it, but as we all know, unexpected expenses have a way of creeping up. The venue suddenly required a security deposit that I hadn’t planned for, and I found myself short of cash.
That’s when I stumbled upon Brigit. I was intrigued by its promise of providing interest-free cash advances up to $250. I was a bit skeptical, but I decided to give it a shot. I downloaded the app, connected my bank account, and within a day, I was approved for a cash advance.
What I loved about Brigit was its simplicity. There were no hidden fees, and the repayment was automatic, deducted from my account on my next payday. The party was a hit, and I was able to repay the advance without any stress.
But Brigit offered more than just a one-time financial lifeline. It came with budgeting tools that helped me understand my spending habits better. I also used Brigit’s credit-builder loan feature, which helped me improve my credit score over time.
In my experience, Brigit is more than just a cash advance app. It’s a financial companion that has helped me navigate unexpected expenses, manage my budget, and build my credit. It’s been a lifesaver, and I highly recommend it to anyone who needs a financial safety net now and then.
Pros And Cons Of Using Brigit
There are advantages and disadvantages to using Brigit as a cash advance app.
Advantages
As someone who understands the need for cash advance apps, I know it’s essential to choose one with several benefits to meet your financial needs. Here are some advantages of using Brigit:
- Offers paycheck advances of up to $250.
- There’s no monthly fee for downloading or using the app.
- Provides overdraft protection, which means you won’t have to worry about incurring hefty fees from your bank.
- Its Credit – builder Loan feature helps users build their credit by applying for a $600 installment loan.
- Budgeting assistance – Brigit’s Finance Helper enables users to monitor their income and expenses and find ways to cut costs.
- Helps users find cash and savings opportunities like online surveys, part-time jobs, and cashback rewards.
- Has an excellent rating on both Google Play (4.6 stars) and the Apple app store (4.8 stars).
- Fast funding – if approved, Brigit will deposit funds directly into your account within minutes.
By considering these advantages, you can make an informed decision when choosing a cash advance app that best suits your financial needs without causing further financial stress or burden on payday loans or high-interest rate credit cards.
Disadvantages
As a cash advance user, it’s important to carefully weigh the pros and cons of using any app. Here are some potential disadvantages of Brigit:
- A monthly subscription fee of $9.99 is required to access the app’s advanced and credit-builder loan features.
- The maximum withdrawal limit for advances is $250, which may not be enough for some users’ needs.
- While Brigit aims to provide advances quickly, it still takes approximately 1-2 days for funds to become available in your account – not ideal for those in need of immediate cash.
- Using Brigit frequently for paycheck advances can become an expensive habit due to interest fees.
- Brigit requires access to your bank account activity, which some users may find invasive or uncomfortable.
- If you have a joint checking account, you won’t be able to use Brigit, as it’s only available on individual accounts.
- To qualify for Instant Cash advances, you’ll need an active checking account with at least 60 days of activity and three recurring deposits from the same source, which could exclude some potential users who don’t meet these requirements.
- Your eligibility for an advance is determined by your bank account history and given a score out of 100; however, there isn’t always clarity around why someone might not qualify or might see their score decrease over time.
- While Brigit offers credit-builder loans with interest-free payments over several months, this could result in an initial drop in credit score before seeing any improvement.
- Some negative reviews highlight issues with customer support communication and the app’s unclear reasons for disqualification or inability to provide advances.
Remember that every cash advance app comes with its own risks and benefits – take the time to evaluate which option is best suited for your financial situation and needs before committing to one platform like Brigit.
Comparing Brigit To Other Cash Advance Apps
When comparing Brigit to other cash advance apps such as Earnin, MoneyLion Instacash, and Dave, Brigit stands out with its credit-builder loan, overdraft protection feature, and budgeting assistance tools.
Brigit Vs. Earnin
Understanding the key differences between Brigit and Earnin can help you choose the right cash advance app for your needs. Here is a comparison of these two popular apps based on their features, fees, and other relevant aspects.
| Features | Brigit | Earnin |
|---|---|---|
| Paycheck Advances | Offers cash advances ranging from $20 to $250. | Provides advances of up to $100 per day or $500 per pay period. |
| Subscription Fees | Charges a fixed monthly fee of $9.99. | Adopts a “pay-what-you-think-is-fair” model, with no mandatory fees. |
| Eligibility Criteria | Reviews the user’s bank account and scores them from 0 to 100. | Utilizes GPS tracking to verify the user’s attendance at their workplace. |
| Repayment | Withdraws the advance from the user’s bank account on their next payday. | Automatically deducts the advance from the user’s account once their paycheck is deposited. |
| Credit-building Features | Offers a credit-builder loan to paying subscribers. | Does not provide any credit-building features. |
| Customer Reviews | Boasts a 4.6-star rating on Google Play and a 4.8-star rating on the Apple app store. | Enjoys a 4.7-star rating on Google Play and a 4.8-star rating on the Apple app store. |
Ultimately, the choice between Brigit and Earnin depends on your individual financial needs and preferences. You may prefer Brigit for its credit-building options, while Earnin’s pay-what-you-think-is-fair model might suit those who want more flexibility in fees.
Brigit Vs. MoneyLion Instacash
When comparing Brigit to MoneyLion Instacash, there are several factors to consider in terms of fees, cash advance amounts, eligibility requirements, and user ratings. To give you a better understanding, let’s take a look at this table below.
| Features | Brigit | MoneyLion Instacash |
|---|---|---|
| Fees | $9.99 monthly subscription fee; no tips required | Fees based on the amount borrowed |
| Cash Advance Amount | $20 to $250 | Up to $250 |
| Eligibility Requirements | Active checking account with 60+ days of activity, balance greater than $0, and three recurring deposits | Active checking account with two or more recurring monthly deposits |
| Repayment Mechanism | Withdrawn from user’s bank account on the next payday | Automatically withdraws repayment from user’s bank account on the due date |
| Scoring System | Score from 0 to 100 based on user’s bank account history | Evaluates user’s banking history and employment status |
| User Ratings (Google Play / Apple App Store) | 4.6 / 4.8 | 4.5 / 4.7 |
Both apps have their own advantages, depending on your needs and preferences. Brigit offers a simple subscription fee system and flexible repayment, while MoneyLion Instacash provides a fee structure based on the amount borrowed. In terms of eligibility, Brigit has slightly stricter requirements but offers more flexibility when it comes to repayment. Ultimately, it’s essential to weigh out each app’s features to determine which one would be the best fit for your cash advance needs.
Brigit Vs. Dave
When comparing Brigit and Dave, it’s essential to consider the features, fees, and accessibility that each cash advance app offers. The following table presents a side-by-side comparison of these two popular cash advance apps to help you make an informed decision.
| Features | Brigit | Dave |
|---|---|---|
| Cash Advance Amount | Up to $250 | Up to $100 |
| Eligibility Requirements | Score of 40 or higher, active checking account with 60 days of activity and a balance greater than $0 | Regular income, direct deposits, and a positive bank account balance |
| Monthly Subscription Fee | $9.99 | $1 |
| Interest and Tips | No interest or tips required | No interest, but optional tips are encouraged |
| Overdraft Protection | Yes | Yes |
| Budgeting Assistance | Finance Helper feature | Expense monitoring and alerts |
| Additional Features | Credit-builder loan, help finding cash and savings | Side gig opportunities through Dave Banking |
| App Ratings | 4.6 stars on Google Play, 4.8 stars on the Apple app store | 4.6 stars on Google Play, 4.8 stars on the Apple app store |
In conclusion, Brigit and Dave cater to different user needs, with Brigit offering a higher cash advance amount and a credit-builder loan, while Dave comes with a lower monthly subscription fee and provides users with side gig opportunities. Consider your financial needs and preferences when choosing between these two cash advance apps.
Alternatives To Brigit
Possible Finance is a good alternative to Brigit, offering installment loans ranging from $100 to $500 with no credit check and a lower monthly fee than Brigit.
Possible Finance
Possible Finance is an excellent alternative to Brigit’s cash advance app, offering users installment loans of up to $500 with quick approval and direct deposit. One standout feature of Possible Finance is that its loans can help users build their credit history over time, boosting their credit scores along the way.
Unlike some other lenders, Possible Finance doesn’t require a minimum credit score for loan approval. Instead, they use an algorithm that considers factors such as banking history, income, and expenses to determine eligibility.
This approach makes it easier for people who may have poor or no credit history to get a loan when they need it most. Additionally, Possible Finance offers financial education resources through its mobile app to help users improve their money management skills and make better financial decisions overall.
Customer Reviews And Experiences
As a cash advance user, I always check customer reviews and experiences before trying out any new app. Brigit’s ratings are impressive, with a 4.6-star rating on Google Play and a 4.8-star rating on the Apple app store.
Some users report experiencing issues with eligibility requirements or delays in deposits, but these seem to be isolated incidents rather than widespread problems.
One user shared their experience using the credit-builder loan offered by Brigit: “I was able to improve my credit score significantly thanks to the installment loan from Brigit.
Overall, Brigit seems like an excellent option for those looking for small cash advances or installment loans without having to worry about high-interest rates or predatory lending practices commonly associated with payday loans.
Our Takeaway
If you’re in a pinch and need some extra cash, Brigit could be an excellent option to consider. With its easy-to-use app and flexible funding options, Brigit can provide users with the financial support they need quickly and without hassle.
While the monthly subscription fee may be a drawback for some, the budgeting tools and credit-building features make it a worthwhile investment for those looking to improve their overall financial health.
Brigit
Brigit is an app that offers cash advances up to $250. It has positive reviews, with 4.6 to 4.8 stars on app stores. However, it charges a $9.99 monthly fee, which some users find expensive. While it doesn’t display fees clearly, it’s considered a low-cost loan option. Some users have had issues with its membership system.
Product Brand: Brigit
Product In-Stock: InStock
4.5
Article Sources & Helpful Links
Here are some helpful links that may help you learn more:
- Brigit Official Website: The official website of Brigit, the app discussed in the article.
- Brigit on the App Store: The App Store page for the Brigit app.
- Understanding Payday Loans: An article from the Consumer Financial Protection Bureau explaining payday loans.
- Payday Loans Information: A resource from the Consumer Financial Protection Bureau about payday loans.
- Bureau of Consumer Protection: The official page of the FTC’s Bureau of Consumer Protection, which works to prevent fraudulent, deceptive, and unfair business practices.
- Brigit’s BBB Profile: The Better Business Bureau’s profile for Brigit, providing an overview of the company and any complaints or reviews.
Brigit Review (FAQs)
How much does Brigit cost?
Brigit charges a membership fee of $9.99 per month for its basic services. There is also a Brigit Plus membership option that offers additional benefits for a higher fee.
How do I qualify for Brigit?
To qualify for Brigit, you need to have a bank account, a steady income, and a history of paying your bills on time. Brigit will also check your credit score, but you don’t need a high credit score to be approved.
Can I get a cash advance from Brigit?
Yes, Brigit offers cash advances up to $250 with no credit check. However, you need to qualify for a cash advance by meeting Brigit’s eligibility criteria.
Are there any additional fees for using Brigit?
Brigit does not charge any interest or late fees for its cash advances. However, there may be fees associated with your bank account or other third-party providers that Brigit cannot control.
Does Brigit offer credit builder loans?
Yes, Brigit offers credit builder loans that can help you build your credit score over time. These loans require no credit check and come with a fixed interest rate.
Is the Brigit app free?
The Brigit app is free to download on both the App Store and Google Play. However, there is a monthly membership fee if you want to use its services.
How does Brigit protect my identity?
Brigit uses industry-standard security measures to protect your personal and financial information. It also offers identity theft protection and monitors your credit for any suspicious activity.
What do customers say about their experience with Brigit?
Reviews on the Apple App Store and other product review sites are mixed. Some customers praise Brigit for its easy-to-use app and helpful services, while others criticize it for its membership fee and customer service.
Q: What is a Brigit cash advance?
A Brigit cash advance is the money that it may offer you when it predicts you will run out of money before your next paycheck. You can request a cash advance using the app, and the money will instantly be deposited into your account.
Does Brigit charge any fees?
Brigit charges a low membership fee of $9.99 per month, which includes finance fees. However, the app charges an additional $0.99 for every two consecutive advances.
Is Brigit a loan?
Yes, Brigit offers loans of up to $250. However, unlike traditional loans, Brigit does not require a credit check, and the money will be deducted automatically from your next paycheck.
Does Brigit affect my credit score?
No, Brigit does not report to any credit bureaus, so using its services will not impact your credit score.
How is the customer experience with Brigit?
The customer experience with Brigit has been positive overall. The app is easy to use, and the cash advance process is straightforward. However, some users have reported issues with the extension of credit or delays in receiving their advances.
Is Brigit a reputable app?
Yes, Brigit is a reputable app that many users have reviewed positively. The app has over one million in identity and has an impressive score in App Store and Google Play reviews. It is worth noting that Brigit is not a bank and does not loan its own money; rather, it partners with third-party lenders to offer its services.
