Caught in a tough spot and need to know about money borrowing apps and how they can help you get by until your next payday?
You’re not alone, and we’re here to help!
Cash advance apps can be a great way to stretch your money until you can fill in the gaps during an emergency.
There are many different payday loan apps out there.
Which one should you choose?
How do you even choose with that many choices?
We’ll go over the 14 best money borrowing apps out there, and what each one is best for so you can make an informed decision about which is best for YOU.
Let’s dive in!
We highly recommend getting the Albert App, a money app. It’s similar to Cash App or a bank account, but way better!
Albert has a debit card and savings account (no credit checks) and lets you borrow up to $250 with no interest or fees! It’s also easy & quick to sign-up!
13 Best Money Borrowing Apps with NO Credit Check
If you’re looking for a cash advance app that will work for you, whether you need regular, small cash advances or a full personal loan, we’ve got options.
Some can deposit money instantly; others take a few days.
If you need the funds immediately, you can pay a small fee to get the funds directly deposited immediately.
There is a good mix of cash advance app options that offer interest-free cash advances, with credit monitoring, financial protection, and even budgeting tools. Most do not charge late or overdraft fees either.
They’re great options to bridge the gap until your next payday without paying overdraft fees and climbing deeper into a financial hole.
As a side note, If you are a Cash App user, you might want to look at our guide on borrowing money on Cash App.
Let’s look at 13 of the best instant money apps out there currently.
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1. 🥇 Albert – Instant Funds up to $250 (Plus a $150 Sign-Up Bonus)
The Albert app is one of the best ways to borrow money online right now and is a highly-rated & trustworthy financial app.
If you sign up for Albert and set up a direct deposit, you’ll get a $150 bonus!
- Zero late fees, credit checks, or interest
- Instant, short-term loans up to $250
- Free cash account (no ChexSystems or credit check required)
- Automatic Savings
- Bill negotiation and subscription monitoring
2. Earnin (Best for Frequent Advances)
- Credit Check Required: No
- Receive Funds: Same day
- Fees: None; Optional service tip (up to $14 limit)
- Repay In: Next payday
- Borrow Up To: $500
3. Brigit (Best for Low Credit Scores)
- Credit Check Required: No
- Receive Funds: Same day if requested before 10 am EST; otherwise, next business day.
- Fees: $9.99/mo membership fee
- Repay In: Next payday, or you can request an extension (only 1 extension for every 2 advances you pay back on time)
- Borrow Up To: $250
4. Possible (Best for Paying in Installments)
- Credit Check Required: No
- Receive Funds: Instantly
- Fees: Varies by state
- Repay In: Multiple payments over several pay periods (installment loan)
- Borrow Up To: $500
5. Empower (Best for Higher Advance Possibilities)
- Credit Check Required: No
- Receive Funds: Instantly
- Fees: $8/mo membership fee (after 14 days)
- Repay In: Next paycheck
- Borrow Up To: $100 with a regular cash advance (beginner); up to $1,000 with an upgrade to Empower Thrive
6. Klover (Best for Monitoring Spending Habits)
- Credit Check Required: No
- Receive Funds: Instantly
- Fees: None
- Repay In: Next paycheck
- Borrow Up To: $100; can increase your advance amount as you progress
8. FloatMe (Best for Predicting & Preventing Overdrafts)
- Credit Check Required: No
- Receive Funds: Instantly
- Fees: None
- Repay In: Next paycheck
- Borrow Up To: $50
8. Dave (Best for Small Advances)
- Credit Check Required: No
- Receive Funds: Up to 3 days, or within 8 hours by paying an Express fee
- Fees: $1/mo; Optional service tip
- Repay In: Next paycheck
- Borrow Up To: $100 without a Dave spending account, or $200 with a spending account
9. Chime (SpotMe) (Best for Overdraft Protection)
- Credit Check Required: No
- Receive Funds: Instant
- Fees: None; Optional service tip
- Repay In: Next direct deposit
- Borrow Up To: $200
10. MoneyLion (Best for Multiple Financial Features)
- Credit Check Required: No
- Receive Funds: Instant (with an instant delivery fee), 12-48 hours for checking account users, 3-5 business days for non-checking account users
- Fees: None; Optional service tip; $19.99/mo membership fee for advanced features
- Repay In: Next direct deposit
- Borrow Up To: $1,000
11. Cleo (Best for Budgeting)
- Credit Check Required: No
- Receive Funds: Up to 4 business days with the standard option; Same day with an Express Payout ($3.99 fee)
- Fees: None for basic features; $3.99 express payout fee for quicker transfers; $14.99/mo membership fee for additional credit building & budgeting features
- Repay In: Next paycheck
- Borrow Up To: $20-$70 when first starting, then you can unlock amounts up to $100
12. Cash App Borrow (Best for a Full Cash Management Account)
- Credit Check Required: No
- Receive Funds: Instantly
- Fees: 5% flat fee
- Repay In: 4 installments over 4 weeks
- Borrow Up To: $200
13. M1 (Best for Investors)
- Credit Check Required: No
- Receive Funds: Instantly
- Fees: Many miscellaneous fees, including a $125 annual subscription fee
- Repay In: Varies based on your portfolio & amount borrowed
- Borrow Up To: Varies (Up to 40% of your portfolio’s value)
Why Should You Use a Cash Advance App?
Cash advance apps – commonly called borrow money loan apps – are apps where you can borrow cash, usually in the form of a minor, short-term loan between $20 to $250.
A payday loan is when you take out cash for an advance (the usual amount you would be paid after one week) and pay it back with your next direct deposit (most likely your paycheck).
These cash advance apps are great to use in emergencies where cash is needed immediately, but there’s no cash to be had.
They’re also good for bridging cash gaps and for people who live paycheck to paycheck.
How Do Payday Loan Apps Work?
Payday loan apps work by helping you cash your paycheck ahead of time.
You cash your paycheck in advance through the cash advance app and then pay it back when payday hits (or after a couple of days).
This ensures you always have cash on hand and don’t need to rely on credit cards or expensive forms of borrowing like payday loan establishments, which tend to charge much higher interest rates than the apps we discuss here.
Are Apps for Instant Money Safe to Use?
Yes, cash advance apps are safe to use!
These apps offer the same cash advances you would get at your bank, but you receive them through an app instead.
They’re safe to use because they act like cash advances – but instead of receiving cash, you receive cash advance loans through an app.
It’s pretty convenient.
They verify your ability to pay the cash advance back before they deposit money, of course, so you won’t get stuck not being able to pay it back.
How to Get a Payday Advance
To qualify for a paycheck advance through a cash advance app, there are varying degrees of checks that they go through, depending on the app you use and the amount you’re trying to borrow.
Many do not check your credit score (in fact, ALL of the options listed further down in this article are free of a credit score check to the major credit bureaus).
Most of the time, they will verify your paycheck to ensure you have the cash flow to pay them back.
Some also come with a monthly fee or other interest fees.
Some don’t, though.
In most cases, to qualify for a cash advance, you’ll need to be at least 18 years old (and some apps require you to be over 21), have an active checking account, and receive a regular paycheck.
Are Cash Advance Apps Considered Payday Lenders?
No, cash advance apps are not the same as payday lenders.
A cash advance is an option to ‘loan cash’ ahead of time through one of these apps; these are apps where you can borrow money from a cash advance lender on demand.
These apps are built to help you get by until payday, mainly for emergencies or short-term cash needs.
For example, you might need gas for your car but don’t have any cash on hand.
Cash advances aren’t meant to be used for things that won’t cost much, like buying groceries or clothes, because it’s too easy to forget about them and spend more than you had planned.
Payday lenders (for traditional payday loans) are establishments that process payday loans, personal loan that costs much more interest than just a simple paycheck advance.
They’re usually more like personal loans, with higher balances and more strict requirements for qualifying.
Pros & Cons of Payday Loan Apps
As with anything, payday loans have their pros & cons, just as traditional personal loans do.
If you’re looking into using a payday advance app, the odds are you’re in a financial situation that’s less than perfect, so you’ve probably already considered your options.
Here are some pros, cons, and additional thoughts to consider when using payday advance apps.
Are They Worth It?
Well, these cash apps can be helpful in some situations.
If you’re trying to stretch your finances for just a bit longer, cash apps can help you do that.
Or if you’re short on cash before payday and need to borrow $100 or $200 ASAP, these apps will lend you the money quickly.
They might not always be fast enough to pay for an emergency like car repairs (if you need cash today), but at least they’ll give you access to cash when nobody else will (the next day or so).
These apps are also better than banks because they don’t require good credit scores.
So cash apps are a great option if your credit score is too low to get approved for a bank loan but high enough that cash advance apps won’t reject you.
If you have bad credit or no credit, cash loan apps might be the only way to access cash in an emergency financial situation.
Pros of Using a Cash Advance App
- They are usually quick and easy to use because most don’t require much time for application & approval processes.
- The cash app industry is relatively young, so many are free or offer low fees. Some cash apps also offer cashback rewards on purchases with partner companies.
- Most people can qualify to borrow money from a payday loan app because there isn’t typically a requirement to check their credit. So even if your credit score is too low for banks, it’s probably not too low to qualify for cash loans through cash apps.
Cons of Using a Cash Advance App
- Borrowing cash can be expensive because interest rates are still pretty high (some cash apps offer 0% interest, though). If you borrow $200, that might mean you’ll pay back $220 or more.
- Repayment periods vary across cash loan apps because some cash apps want you to finish repaying your cash advance before the next payday. So if you need another cash advance right away, this won’t be easy because it takes time to get approved for new loans (even with many cash app lenders offering instant approval).
- Cash loan lenders don’t have physical locations, so the repayment can only happen automatically within the app, usually through your checking account. This can be problematic because if you’re cash-strapped, it’s easy to overdraft your checking account, so you have to be careful not to overextend your finances when you borrow with a paycheck advance like this.
How to Choose the Right Cash Advance App for You
How do you know which payday advance apps are right for you?
You have to think about what you need cash for, how soon you’ll need cash, and your financial situation.
You need to ask yourself some questions about what you need from this payday advance.
- Do you need a small direct deposit or a larger borrowing limit?
- Do you have poor credit, or what does your credit score look like?
- Do you foresee the need to request frequent cash advances?
- Are you trying to improve your credit history?
- Are budgeting tools and personal finance features necessary to you?
- Are you willing to pay a monthly membership fee, or do you strictly want a payday advance app without any monthly fees?
- Do you need a paycheck advance app that doesn’t charge overdraft fees?
- Do you plan on keeping the same employer for a more extended period?
The cash app industry is relatively new, so few payday advance app options are available yet.
That being said, the ones that are out there are outstanding.
But this could be an excellent opportunity to build up your credit score through cash loan apps that will work with you, depending on what type of cash advance limits and additional features you’re looking for.
Tips & Tricks for Using Apps for Instant Money
Using payday loans, whether you need the extra cash once until your next pay period or you need to withdraw money regularly, can be a beneficial service or a hindrance if abused.
Here are some tips & tricks to help you save money over time and utilize these popular cash advance apps the way they were intended (and in a way that’s best for your particular financial future).
When to Use Cash Advance Apps
Cash advance apps work because they provide a service that helps people in a time of need when many other options, such as personal loans with a bank account or credit unions, just don’t fit right.
There are times when paycheck advance apps should be optimally used.
Most cash advance apps should be used for these specific purposes:
- When you need cash now to cover an emergency
- When you need cash now but your credit isn’t quite good enough yet
- When you’re trying to rebuild your credit score after some bumps in the road before (many of these apps help borrowers build credit history)
- If you’re looking to improve your credit score by making consistent payments that lead to a better credit rating over time
How Not to Use Cash Advance Apps (and How You Can Still Benefit from Them)
Cash advance apps are excellent services that can be used as a quick and easy method of borrowing cash when you need cash now.
They can be a great way to borrow cash, but they should not be used to borrow cash regularly every week or month without making any progress on paying back the principal of your payday loan.
This will lead you down a slippery slope that can end with a ruined credit score and/or overdraft fees from cash-strapped checking accounts.
Just like with many revolutionary apps like this out there, they can be instrumental, but they can be quite a problem for you if misused or abused.
What If You Can’t Repay a Cash Advance Loan?
First, you should know that most cash advance apps don’t report your debt to the three major credit bureaus (though it’s possible to find cash advance lenders that do report).
This means it won’t affect your credit score if you can’t repay a cash advance.
Second, payday advance lenders will try and get the money back before sending your account for collections.
So as long as you can make regular payments on time (to avoid late fees), cash loan apps should still give you access to more cash when you need it most.
Some apps offer the ability to request an extension, and while others don’t, your best bet is to reach out honestly and ask for more time.
Don’t ignore communications from them trying to collect.
If you communicate and do your best to repay your payday advance as quickly as possible, you should remain in good standing.
Borrowing money is never easy, so weigh out the pros & cons of cash advances carefully before deciding whether or not this option is right for you.
Alternatives to Borrow Money Apps
Need some money but looking for a payday loan alternative?
We’ve got some helpful ideas that might help you avoid apps like these if you want to.
Help from Friends & Family
Exactly how much money do you need?
Could you request to borrow from a friend or family member?
This might be an excellent option to avoid interest rates and monthly fees if it’s not a lot.
Small Personal Loans
While an app like this is not a bank, some offer higher amounts for personal loans just like traditional bank accounts, although their payback method is probably different.
Most often with this method, there will be a small fee, possibly a minimum credit score (that depends on the app, though), and you’ll have to pay something back automatically per pay period.
Of course, you’ll want to look at any upfront fees and/or interest rates before considering something like this.
Credit Union Loans
Credit union loans are typically a good alternative if you don’t want to take out a traditional loan by using your bank account.
Credit unions are a lot like regular banks, but they usually offer more personalized service and better rates on loans.
And oftentimes, lack of a monthly fee (or at least a lower one).
Their payback method is usually the same as these apps (automatic withdrawals), but some also feature additional payback methods if you have a checking account or savings account set up with them.
Make Some Additional Money
If your money needs aren’t immediate, you could consider picking up a side gig to earn additional money to pay for what you know is coming.
You could drive for a rideshare company, deliver food, put advertising decals on your car, sell items from home you no longer use or need, make phone calls from home, you name it.
There are thousands of side gigs to choose from.
Most of these gigs pay pretty regularly (some are even instant), and you can make your own schedule so you can tailor your pay to what you need and change your hours as needed.
