Everyone gets in a fix sometimes in life. And when you can’t get enough money to cater to your urgent needs, that is payday advance apps come in. These are payday advance loan apps that offer a cash advance of up to $250.
For most of these apps, you also don’t need to worry about credit checks and crazy interest fees, which a lot of other financial services and money apps charge.
This article will guide you through 10 Best payday advance apps, their subscription prices, maximum loans, interest rates, as well as how to choose the best one for you.
10 Best PayDay Advance Loan Apps Available in 2022
1) Dave Loan App
Dave and Brigit have got a lot in common. The major difference there is between the two is that with Dave, users need to pay a fixed $1 monthly subscription fee, while with Brigit, you only have two options; a free plan or a $9.99 premium monthly subscription.
To be fair, Dave’s 1 buck subscription fee is such a low price, more or less like an appreciation to you for choosing them and for the keep up and development of the service.
On the downside compared to Brigit, Dave only offers up to $100 for first-time users, which is pretty low. However, this can still afford you a pizza night, a car refueling, or a Netflix subscription. So, it is still pretty decent.
Getting started on Dave is quite easy. The app is compatible with android and apple, and you can get it on both AppleStore and Google PlayStore.
2) Even App
Unlike Dave, which is quite similar to Brigit, Even is different. There are obviously few similarities here and there but you can note the most differences between the two. This is especially because Dave has a more serious research-driven approach.
Rather than just giving out loans, Even help employees to get loans from employers based on their salaries, by connecting the two parties.
You can subscribe to the Plus Account for $2/ week, or rather get commissioned a small fee for every transaction you make. Besides a wide array of options when it comes to financial and management tools, Even is also highly valued for its versatility.
Get it on Appstore and Google Playstore depending on the device you are using.
3) Earnin App
There is no doubt that Earnin is a highly valued app. At least the numbers of reviews and level of ratings can prove that. Here is why;
First off, when you create an account and apply for a loan, Earnin can give you a loan of between $100 to $500 judging on how trustworthy your account is. They also don’t prefer calling them “loans”.
Rather, the app creators believe that you worked hard for the money they are giving you. The only pity is that you only get to be paid after you have done the job. Probably on a payday.
The service also doesn’t charge obligatory (overdraft) fees as it runs on its own user donations.
Other great additional features you can expect to get from the app include the Tip Jar, the Balance Shield Feature, and more. Go ahead and get the Earnin app from their main website.
4) Affirm Loan
Affirm is more or less a shopping management tool. It allows you to allocate funds for each of your payments, schedule payments in one place, control your expenses, and make secure payments, making it convenient, especially if you lose track of all of this data.
Unlike many other cash advance apps like Brigit that are traditionally meant to let you borrow cash, it is still useful especially for people who do a lot of online shopping. Besides that, it is a great app to use if you are sending money to other users.
5) Chime App
Although a little different, Chime is another one of the popular cash advance apps. One of the most distinctive features of the app is that it functions more like a banking app than a cash advance app.
This means you can set up automatic savings, make secure transactions, and even avoid overdraft fees. Still, most people use it to get advance payments early. Users can expect to get a loan of up to two days in advance, without the surprise of any annoying hidden fees.
6) MoneyLion App
If you are looking to get a borrowing limit of up to $250, you should consider checking out MoneyLion. It also allows you to participate in the MoneyLion Credit Builder Program and take several consecutive loans.
With the short-term loan, the Annual Percentage Rate (APR) is zero. This comes with a registration of $1/ month but rises up to $19.99 (monthly membership) if you are looking to borrow larger sums of money.
Alongside these, there are many other factors that you can enjoy as their user. This includes great financial management tools that help you manage your personal investments, as well as everything else finance-related.
You can always download the app on your android phone on Google PlayStore or Appstore on iPhones.
7) Branch App
If you are looking to gain more knowledge about payday loan apps, then Branch is your number one go-to.
The app focuses on helping and developing striving economies across the globe. This makes the maximum loan size vary depending on different countries and may go up to $700 converted to different local currencies.
Branch also doesn’t check your credit score to accept your loan application. Rather, it uses private smartphone data that you provide while signing up, alongside machine learning algorithms to determine your eligibility for a loan, and how much you qualify for. The APRs also vary.
DailyPay also stands amongst the top payday loan apps like Brigit. It especially resonates more with the Even app. They both bring employees together with their employers and connect the two parties for loans and cash advances.
It even made the monthly salary an on-demand payment, giving users financial security and workforce contentment. One of the best reasons why it has so many positive reviews is the fact that except for the transfer fees, they don’t charge multiple crazy fees.
Setting up your account with DailyPay is easy. You can download it on Google Play Store if you are an Android user and Apple Store for Apple users.
9) InGo Money
Just like Brigit, InGo Money allows you to have your money right where you need it faster and easier. How it works is that it improves and speeds up cash flow between your accounts, processing the checks faster, and saving you the usual time-consuming withdrawal procedures.
While the app is free to use, a $5 fee applies to instantaneous operations. Get it on Google Play on Android and AppStore on iPhones.
Empower is great for small, and even bigger emergencies that need up to $250 at a go. It also doesn’t come with crazy terms and charges like many similar apps do, neither do you have to worry about any credit checks, late fees, or even an interest. What’s more? It also accepts both debit and prepaid credit cards.
Besides all that, the app also comes with other features and services such as expenditure checking, interest checking, automated savings, smart recommendations, and more.
All this, for only a small APY of 0.25%, which applies to all Empower loans, and an $8 flat price for full money control services.
What Payday Advance App is Good for you?
The fact that there are multiple payday advance apps at your disposal may make it hard for you to determine which is the best one for you. As much as all of these apps have a lot of similar characters and features, it is important to go back to basics and focus on the tiny details, especially their terms and conditions.
You can tell an app is the best when they focus more on educating you rather than luring you to their services. Some companies mentioned above take it upon themselves to educate you about negotiating your debts.
There are definitely better alternatives to apps that charge an annual percentage, which should be given preferences. Also, always opt to go for those that charge just as much as you can spare.
Remember to always be reasonable and wise with your finances. Since apps like Moneylion are always there for your financial needs, it could be tempting to misuse them. This will only lead you to have unnecessary debts.
Rather, before you go ahead and download an app to apply for a loan, first evaluate your needs and determine what your requirements are. Make sure you are using them well for the purpose they are intended for; solving emergencies and the chronic problem of lack of cash.
Also, keep in mind that even though the app itself may not be charging some fees, the credit card issuer, (such as Visa, MasterCard, etc), the bank to which the money account is linked, may apply some charges, which you may sometimes not be aware of.
And lastly, don’t ruin your credit and trustworthiness. Some apps base your score on simple factors like your average direct deposits, which determine the eligibility for your maximum size loans and limits.
Just make sure you are consistent and adhere to their terms, to improve your credit card score, increase your maximum size loans, and maintain trustworthiness.