MoneyLion: Go-to Money App

Updates

• Version
  • Bug fixes and performance improvements
  • New feature: Credit Builder Loan
  • New feature: Increased limits for cash advances and Boost

Brief Overview

MoneyLion is a mobile banking and financial app that offers a variety of features to help you manage your money and build your credit. With MoneyLion, you can get up to $500 in cash advances, compare personal loan offers, access early pay for extra money when you need it, and build your credit with a Credit Builder Loan.

Features

Mobile Banking

• Open a MoneyLion Roar Account, a high-yield interest-bearing checking account
• Deposit and withdraw money
• Transfer money to other accounts
• Pay bills
• Send and receive money through Zelle

Cash Advances

• Get up to $500 in cash advances without a credit check
• Repay your cash advances on your next payday
• No interest or fees if repaid on time

Personal Loans

• Compare personal loan offers from a variety of lenders
• Get approved for a loan without a credit check
• Loan amounts up to $2,500

Early Pay

• Access your earned wages up to two days early with Boost
• Pay a small fee for each Boost
• Boost is not available to all customers

Credit Builder Loan

• Build your credit with a Credit Builder Loan
• Loan amounts up to $1,000
• On-time payments help you build a positive credit history

Pros

• No credit check required for most features
• Fast and easy to sign up
• Variety of features to help you manage your money
• Helps you build your credit

Cons

• Fees for cash advances and Boost
• Not available in all states
• Some features require a Membership

Overall, MoneyLion is a good option for people who need access to cash and want to build their credit. However, it is important to be aware of the fees before using the app.