MoneyLion: Personal Finance | Money App (2024)

FAQs

Does everyone get approved for MoneyLion? ›

While MoneyLion doesn't run credit checks on applicants, you'll still need to meet certain criteria to be approved for a loan. For instance, if you have a negative balance or your bank account is less than 60 days old, you may not qualify for a loan.

To apply for cash advances up to $500, tap Instacash on the Home screen of the MoneyLion app. You'll find out right away how much you can get.

There is no minimum credit score needed for a MoneyLion loan. That's because MoneyLion does not do a credit creck at all, which means even people with bad credit or no credit can qualify. However, there may be more worthwhile alternative lenders for you to consider.

The Bureau further alleges that MoneyLion and ML Plus engaged in unfair, deceptive, and abusive acts and practices by: not permitting consumers with unpaid loan balances to exit the membership program and stop monthly membership-fee charges; misrepresenting consumers' right to cancel their memberships for any reason ...

A checking or spending account in good standing (determined at MoneyLion's discretion) with a detectable income stream (i.e., it's where you deposit your recurring paychecks or other income). Savings and money market accounts will not qualify. The account has been open for at least 60 days.

MoneyLion Instacash Details

Also, you'll need to link a checking account that has been open for at least two months with regular income deposits. Savings or money market accounts do not qualify. MoneyLion will also have to verify your identity before approving you. However, there is no credit check involved.

We know that sometimes life can be unpredictable. If you can't repay your Instacash by the scheduled repayment date, you may be eligible to defer your repayment date by up to two weeks. You can read more about deferring your Instacash scheduled repayment here. Instacash is an optional service offered by MoneyLion.

Is there a lawsuit against MoneyLion? ›

The CFPB sued MoneyLion in September 2022 claiming the New York City-based fintech violated the Military Lending Act by imposing illegal and excessive charges on service members and their families.

$1,000 - $50,000

Offers are tailored to your financial situation. Offers have no hidden fees, no impact to your credit score, or obligations.

Brigit. As implied by its name, Brigit is a top Moneylion alternative app that helps you “bridge” the time between paychecks. In addition to monitoring your banking activities, apps like Brigit guards against overdrafts.

MoneyLion is a financial technology company, not a bank. RoarMoney℠ demand deposit account provided by, and MoneyLion Debit Mastercard® issued by, Pathward®, National Association, Member FDIC. RoarMoney is a service mark of MoneyLion.

MoneyLion is a financial technology company, not a bank. RoarMoney^SM is powered by Pathward ^®, N.A., Member FDIC.

Welcome to MoneyLion Instacash

With MoneyLion Instacash, you can get up to $250 whenever you need it. Plus, there's no interest, monthly fee, or credit check. All you need is a checking account with proof of recurring deposits or a RoarMoney account with direct deposits enabled.

Join MoneyLion WOW membership and apply for up to a $1,000 Credit Builder Loan with a competitive rate and no hard credit check*.

Whether you need to establish a credit history or rebuild your credit, Credit Builder Plus Membership helps you build credit while you save — with no hard credit check.