5 In-Demand Loan Apps and Advance Cash Apps For 2022
In this era of digitalization, we have many ways to manage our finances, from savings to investment; all can be done with one tap. Many financial institutions allow their customers to borrow money via credit cards. It allows people to take advance cash whenever they need it, but they charge high interest. Today, I will tell you one more way to save yourself from payday loans, i.e., Advance cash apps.
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Whether mobile gaming apps, dictionary apps, money-saving apps, health and lifestyle trackers, or advance cash apps, all is possible to build!
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There is a huge list when it comes to having an app for advanced cash. Let’s go through it for savings and budgeting.
Earnin – Make Any day Payday With Advance Cash App
Earnin is one of the best-advanced cash apps with an iOS rating of 4.7 and an Android rating of 4.5 and is easily accessible on both platforms. It monitors your hours worked (through a timesheet or by monitoring your location) and allows you to borrow the money you’ve generated. The app also has a function that alerts you when your bank account balance is low, as well as a tool that will fill it up for a charge.
You can credit maximums ranging from $100 and $500. Earnin advance cash app requests a $14 gratuity, which is optional. Set a monthly payment of at least $1.50 to instantly register in the overdraft protection service. For instance, your loan’s APR is 104.3 percent if you borrow $100 seven days before payday and tip $2.
Generally, the Earnin advance cash app takes 2-3 business days to get you money. However, if you want an instant amount, Earnin has a lightning speed feature that costs $1.99 to $3.99, demanding the amount you credit.
Earnin automatically withdraws the same amount from your account after the next day of payday when it comes to repayment.
Dave – Banking and Cash Advance App
The Dave app allows you to take out a modest loan to meet expenditures while anticipating your next paycheck or preventing overdrawing your bank account. Dave spending account users have significant exposure to bigger loan amounts than non-Dave spending account users. Additionally, users who have a Dave spending account will receive $5 to $200; customers who do not have a Dave spending account will receive $5 to $100. This one of the in-demand advance cash apps also offers a “Side Hustle” option that assists users in finding side jobs to supplement their income.
As it charges less fees, it also allows users for other better options:
- You may get a $1 monthly membership cost in the app.
- To get your money faster, the charges are $1.99 to $5.9. The loan amount determines the charge.
- An optional gratuity of up to 20% of the loaned amount.
Dave’s money might take up to three days to receive. The organization claims that you will receive it within eight hours if you pay an expedited premium to retrieve your money faster.
You can select your repayment date manually, but the day after you receive your pay is set by default. It will cost $7.99 to borrow $100 seven days before your next paycheck, after paying a $5.99 expedited charge, a monthly $1 subscription fee, and a $1 tip. The debt’s annual percentage rate (APR) would be almost 400 percent.
Brigit – No Interest Advance Cash App
Brigit is a budgeting app that can provide you with up to $250 in cash at any time. Brigit’s advance cash app has a free plan that offers financial counseling and budgeting assistance. You can utilize the premium plan to acquire the cash advance, which includes all of the benefits of the free plan plus cash advances. Moreover, you can generate automated deposits in your account if you’re about to go overdraft and credit monitoring.
For instance, your loan has an APR of nearly 500 percent if you acquire a $9.99 Brigit subscription and only utilize the app to receive a one-time $100 advance that you’ll return in seven days.
It is also categorized as one of the trustworthy advance cash apps with an iOS rating of 4.5 and an Android rating of 4.8. You can subscribe to a paid plan of about $9.99 per month. The payment withdrawal is the same day if you request Brigit before 10:00 AM. Otherwise, it takes a business day to receive your amount.
Brigit will calculate your upcoming payment based on your revenue schedule. You can prolong your payback date once for every two advances you pay back on time via the app.
Chime – Managing Finances With Cash Loans
Chime, a mobile banking app that offers checking and savings accounts as well as advance cash loans, has a feature called SpotMe. It allows clients to overdraw their checking account by a modest, predefined amount without incurring fines.
While SpotMe is more of an overdraft protection function than a cash advance, it still asks whether you want to tip. According to Chime, your account can go negative up to the amount you’ve allowed, and purchases that go below that amount will be denied. To be eligible for SpotMe, you must have at least $200 in qualifying direct payments into your Chime account each month.
From $20 to $200, Limits start at $20 and increase depending on how much you use your account. Surprisingly, it does not charge any fees but asks for a tip if you want to give it.
You do not need to wait a single day to get an amount as the integration of SpotMe helps to get instant payment. The advance cash you have to repay in your next direct payment will usually be on your following payday.
Moneylion – Financial Tracking and Cash Loan Apps
MoneyLion is a mobile banking and investing app that includes financial tracking and advances cash up to $250. Anyone with a qualified bank account can get an InstaCash advance as well. If you need your money right away, you’ll have to pay a charge. MoneyLion claims to charge no interest or fees for cash advances, but you’ll be prompted to leave an optional tip if you obtain one.
Only MoneyLion checking account clients have access to the biggest sums, ranging from $25 to $250. MoneyLion charges fees for instant receiving pay as per the amount you borrow and also asks users to tip.
- Get quick payments for $0.99 to $5.99.
- Users with non-MoneyLion bank accounts may get quick delivery for $1.99 to $7.99.
If you do not pay delivery charges, it takes 12hrs to 2 days for MoneyLion checking account users. And if a non-MoneyLion user requests to borrow without fee delivery, it takes 4-5 business days.
The money is taken out of your account when you’re supposed to get your next deposit, which is usually your next payday. If your account is insufficiently funded, the app will attempt to withdraw cash frequently.
Advance cash apps make people’s lives easier as everyone is using these apps to generate money before their payday. It allows users to spend money in their crucial time, and the repayment time span is also feasible. The idea of building these types of apps helps people a lot, and I think there is a need for more apps like Earnin, Dave, Brigit, and others.
Although, these app users are also generating money as the users pay for the app subscriptions. The game behind launching apps is to provide ease to the audience and earn money by the number of downloads.
If you want to build an app and earn money from it, you can contact us to generate ideas. Or, if you have any idea that can transform the world, we are here to make it a reality and build an app as it is you want.