Payday loans are no stranger to nearly half of all Americans who live paycheck to paycheck. Yet, there is a quicker way to access money.
Being in money need is very unpleasant indeed. But if there’s nothing else to do, opt for a paycheck app that would be a great alternative to cash advances before your next payday.
- How many times in your life have you faced desperate money need?
We know that sticking to a budget is a tough gig. That’s why Earnin, Brigit or similar apps like Dave come to your aid.
In an ideal world, neither quick cash app is a good one, but the reality makes us believe the contrary. And in times when even the good financial habits are not enough to save you from a significant expense popup, ‘get your paycheck early’ app is extra help.
Thus, if you are ready to find the best app to get paid early, make yourself a coffee and learn all the bells & whistles of the below-mentioned paycheck apps.
But before thinking on your feet, make sure you know your reason for getting a cash advance. And remember that there are hardly great solutions that wouldn’t ask for something in return. In this case, it’s all about money and interest rate you’ll face or not.
All in all, no matter what money borrowing app you’ll end up with, you’re the one who is responsible for your choice. So, think twice.
4 Best Payday Loan Apps
The following is a list of the best options for you to get a paycheck early and bridge the financial gap.
Find what tool suits you best and use it only when you’re strapped for cash. These are the alternatives that can save you from payday loan misery, so do research before getting your fingers wet.
Earnin – Pay Advance App for Hourly Paid Workers
Let’s start with a free/low-fee alternative to payday loans – Earnin. Formerly known as ActiveHours, it works differently from other cash advance apps.
Thus, as a cash app alternative to expensive payday loans, it allows you to access the money you’ve already earned but haven’t been paid for. In other words, you use your next paycheck as collateral to get money “lightning-fast”, which means the same day.
Before you go for the Earnin app, consider that there are specific limits and rules. Unlike competitors that charge fees, Earnin doesn’t. There are no interest or monthly membership fees, which seems like a great option to use apps like Earnin.
Instead, the company encourages you to “tip” for using their services.
And when you do, it increases your chances to get a max payout every paycheck. Just because they are not employer-sponsored, apps similar to Earnin don’t have customer service.
Thus, you can cash out $100 per pay period and increase it up to $500 in time. The longer you use the app, the higher the amount. The money lending app is easy to use, and it helps you avoid being late on bills or payments. Also, Earnin is a great cash advance app that helps you avoid taking out a payday loan.
Thanks to the ‘get your paycheck early’ apps you skip the choice agony.
Say, you don’t have to choose between missing a payment and paying the penalties. With Earnin, you get paid before payday a week or two early. So, a great alternative which can save you a great deal of money when you need it most.
If for some reason this borrow money app is not an option for you, consider using Earnin alternatives.
Dave – Best Early Payday App for Small Amounts
The Dave app is the other cash advance alternative to payday loans that aims to help you change your status when strapped for cash. Loan apps like Dave are innovative AI-based platforms that work directly with your bank account.
Once your funds are low, you get an alert and you’re able to get as many cash boosts as necessary. Even though the loan amount starts from $75, apps like Earnin and Dave come with great terms and excellent reputation. As proof, since their startup in 2016, Mark Cuban’s app Dave has helped over 3 million its members to avoid overdrafts.
Struggle with automatic payments for things like Netflix or insurance?
That’s where the friendly app can help. The good news is there are no credit checks. For quick approval, you need to have 60 days’ worth of payment history.
Thus, Dave is not the other app that lets you borrow money but the one that also helps you monitor your budget.
When on the lookout for the best ‘get paycheck early’ options, apps like Dave and Earnin should be high on your list.
It’s hard to find a reason not to give Dave a try. Unless you think 200 thousand of reviews isn’t enough proof. For $1/month, cash advance apps like Dave allow you to budget your upcoming expenses.
In fact, it’s one of the best overdraft protection apps that save you a bundle. Yet, one thing all best cash advance apps similar to Dave lack is customer support.
What are the other apps similar to Dave? Let’s learn, not guess.
MoneyLion – App with Payday Membership
When it comes to the best payday loan apps, MoneyLion has you a lot to offer, including two different membership options. It’s an all-around professional money loan app that goes far beyond Earnin. It means that it offers not only no-fee checking accounts and 0% APR cash advances, but also credit monitoring and credit-builder loans of up to $500. The letter starts at 5.99% APR, in fact.
To begin with a free membership, you can open a bank account through MoneyLion service and get your paycheck early at no interest. This option is a perfect match for borrowers with “less than stellar” credit, in fact. By using this payday loan app, you can also earn cashback rewards and gift cards, which is a nice extra.
With the MoneyLion Plus membership, you have to pay $29/month and get the opportunity to take a credit-builder loan for up to $500. In addition, it matches your employer’s paycheck and allows you to get paid before payday.
- You get $1 cashback in your account for every day you log into.
Payday advance apps like MoneyLion are a great choice for those who want to improve their financial life. Also, this fast cash app provides its customers with advice on how to monitor and control your financial health.
All in all, 4 million satisfied members can’t get wrong. The best way to use MoneyLion is to borrow when you need a quick buck and make early payments to pay it off. This way, you’ll get no prepayment fees and can avoid paying a mountain of interest.
Brigit – Best Payday Loans App for Fast Funding
Payday loan apps like Brigit work best for saving on overdraft fees. For a monthly membership fee of $9.99/month, you can get up to $250 per paycheck with no interest or credit check quality.
You just need to connect your timecard and your bank account and get ready to access the money instantly. Though Brigit is one of the best overdraft apps available to everybody, it isn’t necessarily the best choice.
There is one thing you should know before going for Brigit.
It uses an algorithm to forecast the balance in the bank account at the end of the month, which simply makes Brigit a cut above the other apps that loan you money.
- It predicts whether your bank account will run out of cash before the next paycheck.
If that’s your case, you’ll get up to $250, which you repay once you get paid. Since this ‘get paid early’ app is based on a subscription model, you never pay interest in late fees on the loan up to $250. Thus, once you repay your loan, you get access to it again and again.
Unlike AI-based platforms like Dave and Earnin, this payday advance app comes with a responsive customer service team.
Ideal for people with thin or low credit scores, Brigit is much less expensive than an overdraft fee (could be up to $40 depending on the bank). As such, if you face some financial troubles from time to time, Brigit is a decent option.
When it comes to borrowing money, there’s neither a quick solution nor the easy way out. Even if an emergency happens and you need money in a hurry, the best thing you should do before jumping in with both feet is to think carefully. Of course, in times when every second counts, it’s extremely difficult.
- But who will pay back all those mountains of interest at the end of the day if not you?
If a payday loan seems like a perfect match for you, think again. Chances are you’re one of those users who spend 90% consumer’s mobile time in apps. The world just lives in it, so you are. Getting money in advance is right at your fingertips. The number of apps that let you borrow money abounds and sees no end in sight. No matter your reason, there is at least one payday app that can help before your next paycheck.
Most of the best payday advance apps include tools that help you keep your financial wellness in tip-top shape. In times when some ‘get paid today’ apps can help improve your credit score, other fast money apps help cover your financial shortfall.
Now, what is your case?