Over the past decade, tons of new instant cash advance loans for bad credit products and services have propped up for bad credit borrowers. These include 0% interest cash advance apps, sub-35.99% APR lending network loans and alternatives like bad credit personal loans and payday alternative loans (PALs) from credit unions, all offering favorable rates and terms that your average 400 credit score borrower may not be accustomed to.
Best 5 Instant Cash Advance Loans for Bad Credit
MoneyMutual – Up to $5,000 / Min Credit Score: 0 / 5 Minute Approval / Rating:4.9/5.0 – Best Overall
FundsJoy – Up to $5,000 / Min Credit Score: 0 / 5 Minute Approval / Rating:4.8/5.0 – Best Cash Advance for Bad Credit No Credit Check
ZippyLoan – Up to $15,000 / Min Credit Score: 0 / 5 Minute Approval / Rating: 4.7/5.0 – Best for Personal Loans with Bad Credit
LifeLoan– Up to $40,000 / Min Credit Score: 0 / 5 Minute Approval / Rating:4.7/5.0 – Best for Same Day Funding Online
Upstart – Up to $50,000 / Min Credit Score: 0 / 5 Minute Approval / Rating: 4.8/5.0 – Best for Poor and Fair Credit
The best instant cash advance loans can be used for emergency expenses, such as unpaid medical bills and hospital bills that can easily tear your monthly finances apart. But, regardless, a legit quick cash advance is now within easy reach.
Keep reading to learn more about the best instant cash advance loans for bad credit with no credit check, including our favorite lending networks, cash advance apps and even credit card cash advance opportunities from top names like Citi and Chase.
MoneyMutual
Rating: 4.9/5.0
Amount: Up to $5,000
APR: Up to 35.99%
Min. Credit Score: 0
Approval: 5 minutes
Founded in 2010 with more than 2 million customers served to date, MoneyMutual is one of the more well-known cash advance loan providers for bad credit. Some of their loans offer no credit check. Some also do require credit checks, but they approve them quickly.
For starters, MoneyMutual offers well-rounded terms starting with loan amounts from $200 to $5,000, a wide range to cover all types of emergency expenses, such as unpaid medical bills and auto repairs. In addition, we appreciate its sub-35.99% APRs (the maximum threshold for bad credit borrowers) and flexible repayment terms of up to 60 months. All terms offered by participating direct lenders depend on the loan amount, any applicable state laws and similar variables.
Kudos for MoneyMutual joining the Online Lenders Alliance (OLA), an organization dedicated to preventing consumer fraud and encouraging lending best practices. With 256-bit bank-level encryption and a secure online form, your information is safe with MoneyMutual.
How to Apply: To start with MoneyMutual, visit the homepage and click the large “Get Started” button. Immediately you will be asked for your state of residence (Connecticut residents are prohibited from applying online), as well as contact information and deposit instructions. Once your loan request is submitted, you will be matched with several legit direct lenders competing for your business. Be sure to carefully review all rates and terms before committing to anyone cash advance for bad credit.
Eligibility:
- 18 years of age or older
- Government-issued photo ID
- U.S. citizen or permanent resident
- Minimum monthly income of $800
- All states except residents of Connecticut
- Completed application through the MoneyMutual portal
Highlights:
- Loans up to $500
- Generous APRs up to 35.99%
- Excellent source of cash advance for bad credit
- Easy and intuitive online application
- Helpful resource guides on lending best practices
- Easy cash advance qualification criteria
- Available in almost all 50 states
Fees:
- No origination or prepayment penalties
- Late and insufficient funds fees vary by lender
Pros:
- Loans up to $5,000
- Best bad credit cash advance alternative
- APRs up to 35.99%
- Easy five-minute online application
- Quick no credit check loan approval
- Excellent source of cash advance, no credit checks
- Insightful resource guides on bad credit loans
Cons:
- Not all direct lenders are equally transparent with rates and fees
- No paycheck advance loans for gig workers
- Higher interest rates than free instant cash advance apps
- Lower maximum borrowing limit ($5,000) than competitors
- Not available to Connecticut residents
Terms: MoneyMutual is an online marketplace connecting people with various loan products and services, including no credit check loans, bad credit personal loans and instant online cash advances. Participating lenders on the platform offer loans up to $5,000, most with competitive sub-35.99% APRs. As it is an intermediary and not a direct lender, each participating direct lender on the platform is responsible for loan processing and communicating origination, prepayment, late, insufficient funds and other fees. To understand how your loan is structured, consider the following loan example: a 31% APR, $3,000 loan on a 2-year repayment term with no additional finance charges will result in estimated monthly payments of $169.29 for a total payout of $4,062.88. Of this payout, $1,062.88 belongs to interest charges. Not all lenders will grant your desired loan amount. All loan offers vary from one person to the next based on the requested loan amount, debt-to-income ratio, state of residence and similar factors.
FundsJoy
Rating: 4.7/5.0
Amount: Up to $5,000
APR: Up to 35.99%
Min. Credit Score: 0
Approval: 5 minutes
Founded in 2018, FundsJoy is an excellent source for cash advance loans with no credit check. They are best for people with bad credit.
For starters, participating direct lenders on the platform offer anywhere from $200 to $5,000, most with sub 35.99% APRs with repayment terms from six to 60 months. One of the best things about FundsJoy is its eligibility requirements. You only need to be 18 years old or older with a government-issued photo ID, a valid home/email address and a minimum monthly income of $800. This means even a minimum wage worker working at Panera Bread or Subway on a full-time 40-hour-a-week schedule can benefit.
We also appreciate how easy it is for FundsJoy customers to submit loan requests. Its 256-bit encrypted online form takes less than five minutes to complete. As long as you meet all eligibility requirements, expect same-day approval and funding to your bank account as quickly as the next business day, offering a vital lifeline for those in emergency cash need to cover unexpected expenses.
How to Apply: It takes less than five minutes to submit a loan request through FundsJoy. Click on the bright purple “Get Started” button and follow all on-screen prompts, entering your desired loan amount and contact and depositing instructions before submitting. From there, you will be matched with at least three direct lenders offering competitive rates and terms.
Eligibility:
- 18 years of age or older
- Government-issued photo ID
- US citizen or permanent resident
- Minimum monthly income of $800 a month
- Valid bank account and home address
- Completed application through the FundsJoy website
Highlights:
- Loans up to $5,000
- APRs up to 35.99%
- Easy 5-minute online application
- 256-bit encrypted online form
- Excellent source of cash advance for bad credit
- Lower interest rates than payday loan cashing places
Fees:
- No prepayment penalties
- Origination fees of up to 5%
- Late and insufficient funds fees vary by lender
Pros:
- Loans up to $5,000
- Payday advance loans alternatives
- Competitive APRs up to 35.99%
- Quick and easy online application
- Adheres to responsible, Fair Lending practices
- Some lenders report on-time payments to credit bureaus
Cons:
- Not a direct lender
- Payday advance loans not available in all 50 states
- Fees, APRs and non-payment rules vary by lender and state law
- Not all lenders will grant your desired loan amount
- Information may be shared with third parties advertising their own loan products and services
Terms: FundsJoy is an online marketplace connecting people with various loan products and services, including no credit check loans, bad credit personal loans and instant online cash advances. Participating lenders on the platform offer loans up to $5,000, most with competitive sub-35.99% APRs. As it is an intermediary and not a direct lender, each participating direct lender on the platform is responsible for loan processing and communicating origination, prepayment, late, insufficient funds and other fees. To understand how your loan is structured, consider the following loan example: a 28% APR, $4,500 loan on a 1-year repayment term with no additional finance charges will result in estimated monthly payments of $434.28 for a total payout of $5,211.32. Of this payout, $711.32 belongs to interest charges. Not all lenders will grant your desired loan amount. All loan offers vary from one person to the next based on the requested loan amount, debt-to-income ratio, state of residence and similar factors.
ZippyLoan
Rating: 4.8/5.0
Amount: Up to $15,000
APR: 12% — 35.99%
Min. Credit Score: 0
Approval: 5 minutes
If you wish to forgo free instant cash advances in favor of higher borrowing limits, look no further than ZippyLoan as your next loan provider.
Participating lenders on the ZippyLoan platform are willing to extend anywhere from $100 to $15,000 to 12%-35.99% APRs, working with a diverse network of qualified and legit lenders matching your credit profile. In addition, we appreciate ZippyLoan’s straightforward application process, taking at most five minutes to complete before receiving multiple loan offers within minutes. Best of all, they work with people with bad credit, as most of their loans are no credit checks.
Another benefit to using ZippyLoan is its fast and easy transactions, with funds disbursed to your bank account in as little as 24 hours. In addition, its excellent combination of competitive interest rates, minimum fees and generous borrowing limits for multiple lenders make it a reliable go-to source for emergency cash.
How to Apply: Out of all the lending networks we’ve researched and tested, ZippyLoan offers one of the easiest loan request forms to fill out. To start, visit the website and input your desired loan amount, zip code and email address before clicking the purple “Get Started” button. From there, you will be asked additional questions related to an address, employment and deposit details. Once your application is submitted, you will be matched with at least three direct lenders.
Eligibility:
- 18 years of age or older
- U.S. citizen or permanent resident
- Minimum monthly income of $800 a month with a valid bank account
- Completed application through the ZippyLoan website
- Not available to New York, West Virginia, Oregon, or District of Columbia residents
Highlights:
- Loans up to $15,000
- Excellent APRs from 12% to 35.99%
- Flexible repayment terms of up to 60 months
- 256-bit encrypted online application
- Available in almost all 50 states
- Excellent source of cash advance for bad credit
Fees:
- No origination fees
- No prepayment penalties
- Late and insufficient funds fees apply
Pros:
- Loans from $100 to $15,000
- Competitive APRs from 12% to 35.99%
- No collateral required
- Excellent source of payday advance loans
- No origination or prepayment penalties
- Convenient repayment options
- No minimum required credit score
- Strong source of cash advance online same-day providers
Cons:
- Low maximum borrowing limit ($15,000) versus competitors
- Not all lenders are equally transparent
- No paycheck advance loans for gig workers
- Information may be shared with third parties
- Higher interest rates than free instant cash advance apps
- Payday advance loans available to New York, West Virginia, Oregon, or District of Columbia residents
Terms: ZippyLoan is an online marketplace connecting people with various loan products and services, including no credit check loans, bad credit personal loans and instant online cash advances. Participating lenders on the platform offer loans up to $15,000 with 12% to 35.99% APRs. As it is an intermediary and not a direct lender, each participating direct lender on the platform is responsible for loan processing and communicating origination, prepayment, late, insufficient funds and other fees. To understand how your loan is structured, consider the following loan example: a 21% APR, $12,800 loan on a two-year repayment term with no additional finance charges will result in estimated monthly payments of $657.74 for a total payout of $15,785.67. Of this payout, $2,985.67 belongs to interest charges. Not all lenders will grant your desired loan amount. All loan offers vary from one person to the next based on the requested loan amount, debt-to-income ratio, state of residence and similar factors.
LifeLoan
Rating: 4.7/5.0
Amount: Up to $40,000
APR: Up to 35.99%
Min. Credit Score: 0
Approval: 5 minutes
If you are looking for a cash advance for bad credit or no credit check, LifeLoans is one of the better options.
Its expansive network of participating direct lenders is ready to award loans from $100 to $40,000 to sub-35.99% APRs and flexible repayment terms of up to 60 months. Moreover, bad credit borrowers can take advantage of speedy transactions with same-day approval and funding to your bank account as early as the next business day.
Additionally, LifeLoans it’s very transparent, with clearly stated disclaimers and representative loan examples to give you a better idea of the type of interest and finance charges you can expect to pay, regardless of whether it is a $200 loan or a $34,000 loan. All your information is safe with a 5-minute online application and bank-level 256-bit encryption.
How to Apply: LifeLoans offers a quick and easy loan request process. On the homepage, click the bright green “Start Now” button and answer all questions, including your desired loan amount, loan purpose, estimated credit score, employment status and more. Once you submit your application, expect several direct lenders to issue loan offers higher or lower than your requested loan amount. Take all the time you need to carefully research rates and terms before committing to a direct lender.
Eligibility:
- 18 years of age or older
- U.S. citizen or permanent resident
- Minimum monthly income of $800 a month
- Completed application through the ZippyLoan portal
- Connecticut, New Hampshire, Washington, or Vermont residents not eligible
Highlights:
- Loans from $100 to $40,000
- Competitive APRs up to 35.99%
- Flexible repayment terms
- Excellent source of cash advance for bad credit/payday advance loans
- Same day approval and next business day funding on payday advance loans
- Secured, 256-bit encrypted online application
Fees:
- No origination or prepayment penalties
- Late and insufficient funds fees vary by lender
Pros:
- Excellent borrowing limits ($100 to $40,000)
- APRs up to 35.99%
- Available in almost all 50 states
- 256-bit encrypted online form
- A top source of cash advance for bad credit
Cons:
- Not a direct lender
- Cash advance limit varies by lender
- Higher interest rates than free instant cash advance apps and debit card cash advance
- No paycheck advance loans for gig workers
- Not available to Connecticut, New Hampshire, Washington, or Vermont residents
Terms: LifeLoans is an online marketplace connecting people with various loan products and services, including no credit check loans, bad credit personal loans and instant online cash advances. Participating lenders on the platform offer loans up to $40,000 with sub-35.99% APRs. As it is an intermediary and not a direct lender, each participating direct lender on the platform is responsible for loan processing and communicating origination, prepayment, late, insufficient funds and other fees. To understand how your loan is structured, consider the following loan example: a 19% APR, $12,000 loan on a 2-year repayment term with no additional finance charges will result in estimated monthly payments of $604.90 for a total payout of $14,517.68. Of this payout, $2,517.68 belongs to interest charges. Not all lenders will grant your desired loan amount. All loan offers vary from one person to the next based on the requested loan amount, debt-to-income ratio, state of residence and similar factors.
Upstart
Rating: 4.9/5.0
Amount: Up to $50,000
APR: 6.5% — 35.99%
Min. Credit Score: 0
Approval: 5 minutes
Upstart is one of the best companies for bad credit and fair credit personal loans that get approved quickly.
Upstart lenders offer loans as little as $1,000 upwards of $50,000 to excellent 6.50 to 35.99% APRs. There are also two repayment term options—three and five years—and the option to change your payment date. We also appreciate its one-day approval time. However, one downside is that Upstart charges origination fees of up to 8.99%, which most direct and non-direct lenders do not charge.
Using an innovative AI scoring model, Upstart is an excellent choice for bad credit borrowers who wish to be qualified based on factors outside of credit scores, such as cash flow, education, employment and other non-traditional data.
Another benefit to using Upstart is its free financial education resources, with plenty of helpful articles on how to build credit to secure lower interest rates. It also offers several tools, such as a personal loan calculator, to forecast estimated monthly payments based on input loan amounts and interest rates.
We highly recommend Upstart as an excellent cash advance source for bad credit loans, even with a higher minimum borrowing limit of $1,000.
How to Apply: Despite a busy homepage, submitting a loan application using Upstart is easy. First, on the homepage, select from one of the various options, such as consolidation debt, or pay off a credit card, before clicking through to check your rate and submit a loan application. The process takes up to 10 minutes, with same day approval and funding by the next business day.
Eligibility:
- 18 years of age or older
- Government-issued photo ID
- Minimum 600 credit score
- Minimum three years of employment history
- Minimum income of $12,000 a year
- Debt to income (DTI) ratio below 50%
Highlights:
- Loans up to $50,000
- APRs from 6.50 to 35.99%
- 82% of lending decisions are fully automated
- Next business day funding
- A legit cash advance for bad credit/payday advance loans provider
- Excellent Trustpilot ratings (average 4.9 out of 5.0 rating across 40K+ reviews)
Fees:
- No prepayment penalties
- Late and insufficient funds fees apply
Pros:
- Loans from $1,000 to $50,000
- Best personal loans for bad credit
- Easy bad credit approval
- Competitive APRs from 6.50 to 35.99%
- Quick and easy application process
- Machine learning-based personalized loan options
- No prepayment penalties
- Strong source of cash advance online same day providers
- Free credit score monitoring
- Fast funding and no hidden fees
Cons:
- Not a direct lender
- Perform credit checks, but easy approval
- Forbearance and hardship options available
- Stricter eligibility criteria than competitors
- Higher interest rates than free instant cash advance apps
- No guarantee of approval even if meeting all eligibility requirements
Terms: Upstart is an online marketplace connecting people with various loan products and services, including no credit check loans, bad credit personal loans and instant online cash advances. Participating lenders on the platform offer loans up to $50,000 with 6.5% to 35.99% APRs. As it is an intermediary and not a direct lender, each participating direct lender on the platform is responsible for loan processing and communicating origination, prepayment, late, insufficient funds and other fees. To understand how your loan is structured, consider the following loan example: a 28% APR, $34,500 loan on a 4-year repayment term with no additional finance charges will result in estimated monthly payments of $1,202.40 for a total payout of $57,715.15. Of this payout, $23,215.15 belongs to interest charges. Not all lenders will grant your desired loan amount. All loan offers vary from one person to the next based on the requested loan amount, debt-to-income ratio, state of residence and similar factors.
What Are Instant Cash Advance Loans?
Also referred to as cash advance or payday loans, instant cash advance loans are short-term loans of two to four weeks that are repaid by the borrower’s next payday.
Although they offer easy approval for bad credit (with no credit check in most cases), they have serious disadvantages. For starters, they are very expensive. You don’t have to pay for outrageous 400% quick cash advances APRs since there are many opportunities to take out a much cheaper loan. Continue reading to learn how.
Qualification criteria for instant cash advance loans are much looser than traditional bank and credit union loans, only requiring proof of income (as little as $800 a month), U.S. citizenship/permanent residency and a valid checking account.
Fortunately, several lending networks like ZippyLoans and MoneyMutual have exploded in popularity in recent years thanks to the ease with which borrowers can be approved (often within hours), with funds deposited to their bank account as early as the next business day. As a result, it’s an excellent opportunity for those with limited to bad credit to obtain funding for emergency expenses, such as unpaid medical and utility bills.
How Do Instant Cash Advance Loans Work?
There are two ways borrowers can take out instant cash advance loans. One is by issuing a post-dated check to payday lenders, who cash out on the next payday. The second option is automatic withdrawals with access granted to direct payday lenders. Outside of that, one of the biggest draws with instant cash advance loans is same-day approval and funding to your bank account as early as the next business day.
Sometimes, quick cash can be had in minutes at traditional cash advance stores.
With instant cash advance loans, all loan proceeds must be paid back on a borrower’s next payday, including finance charges and interest. With APR exceeding 400% (or up to $30 for every $100 borrowed), traditional cash advances are one of the more predatory types of loans.
To counter traditional cash advances, we highly recommend alternatives like 0% interest cash advance apps, bad credit personal loans and payday alternative loans from credit unions like Alliant Credit Union, Navy Federal Credit Union and First Tech Federal Credit Union.
Understand Cash Advance APRs
In short, cash advance APRs typically exceed 400% APRs or up to $30 for every $100 borrowed. On top of interest, expect to pay fees up to 5% of the amount withdrawn with minimums of up to $20. In addition, traditional cash advance lenders charge outrageous loan extensions or renewal fees of up to $40.
One of the best ways to put cash advance APRs in perspective is to understand average personal loan rates by credit score. Not surprisingly, those with good enjoy the lowest interest rates.
See a breakdown below of average personal loan interest rates by credit score:
- 720–850 – 10.73%-12.50%
- 690–719 – 13.50%-15.50%
- 630–689 – 17.80%-19.90%
- 300–629 – 28.50%-32.00%
For comparative purposes, average personal loan rates by banks are much lower. For example, personal loans at Citibank range between 9.49% and 20.49% versus Santander Bank’s 6.99% to 24.99%, inclusive of auto-pay enrollment.
Average personal loan rates by credit unions are just as favorable. For example, Pentagon Federal Credit Union (PenFed) charges personal loan rates between 7.74% to 17.99% versus Navy Federal Credit Union’s 7.49% to 18% APRs.
With lending networks Like MoneyMutual and ZippyLoans offering APRs up to 35.99% on short two to four-week fast cash advance loans, it’s an excellent deal for bad credit borrowers to take advantage of.
Advantages and Disadvantages of Instant Cash Advance Loans
Here are the advantages and disadvantages of instant cash advance loans:
Advantages
Speed. An instant cash advance loan’s number one draw is quick access to funds. Traditional and alternative online cash advances offer approval in minutes with next business day funding versus several days for conventional loans from banks and credit unions. So consider it an easy cash advance.
No Minimum Required Credit Score. Traditional and instant online cash advances require no minimum credit score. Instead, creditworthiness is based on factors such as age (must be 18 or older) with proof of income, typically comprising a minimum of $800 a month. Also, remember direct deposit collecting bank accounts, which only employed people have.
Excellent Alternatives. One of our favorite advantages with cash advance loans is 0% interest options with cash advance apps like Earnin, Brigit and Dave. Our number one pick, Earnin, advances up to $100 per day or $ 750 per pay period with no fees, no credit checks and same day funding through its Lightning Speed program.
Disadvantages
Shorter Repayment Periods. Traditional easy cash advances require that borrowers repay loans within two to four weeks, which may be difficult for cash-strapped borrowers with limited sources of income or tied-up savings.
Debt Trap Galore. Traditional easy cash advances from cash advance stores are rife with high interests and fees, submerging bad credit borrowers into a vicious debt cycle that can take months or years to climb out of. 400% APRs, $60 loan extension fees and other extra finance charges could easily double the principal with three or four consecutive rollovers.
Questionable Lending Practices. Traditional easy cash advance lenders are known for predatory lending practices, such as excessive marketing jargon (e.g., guaranteed rates today!), required non-essential personal information and abusive debt collection practices, including late-night phone calls.
How To Find and Qualify For The Best Instant Cash Advance Loans if You are with Bad Credit
With some leg work, anyone can become an expert in finding and qualifying for the best instant cash advance loans for bad credit borrowers.
Here are some of our top suggestions:
Shop Around. When evaluating different lending Networks such as MoneyMutual and ZippyLoan, we highly recommend comparing a minimum of three direct lenders, each offering their own fast cash advance rates and terms. Also, remember not all lenders are equally transparent on these platforms, with some providing more information than others. Fortunately, submitting a loan request form does not indicate any commitment to signing off on a loan. Instead, it allows you to explore and evaluate different loan offers to find the best one for your financial situation.
Consider 0% Interest Cash Advance Apps. If you are not looking to finance a large expense (more than $1,000) and simply looking to cover paycheck apps, then 0% interest cash advance apps like Earnin and Brigit are a viable option. Here are the best loan apps reviewed. However, you must ensure you have the funds necessary to repay the advance on your next payday.
Bump Your Credit Score. If you have enough time before your next fast cash advance, we recommend boosting your credit score to maximize the lowest rates possible. Even a simple 50- to 100-point bump in credit score could drop APRs you qualify for by 10% or more, which could equal several hundred dollars in interest saved throughout a two or three-year loan. Every point counts!
Consider Credit Union Bad Credit and PAL Loans. Again, suppose you’re looking to finance a larger expense costing several thousand dollars. Pursuing a bad credit personal loan from reputable sources like Alliant Credit Union or Pentagon Federal Credit Union may make sense. They offer max APRs of 18% on loans up to $50,000, albeit with slightly higher minimum borrowing limits than direct lenders from online marketplaces. However, it comes with all of the peace and security of working with a large credit union known to advocate in their member’s best interests.
A Word On Traditional Cash Advances
Over the past 20 years, state legislation has cracked down on predatory traditional cash advance lenders known for their outrageous 400% APRs on a fast cash advance, along with endless fees designed to trap borrowers into a vicious debt cycle.
Now has never been a more critical time for crackdowns on payday loans. According to the Consumer Financial Protection Bureau, roughly 12 million Americans take out payday loans yearly.
In response to the outrage over the impact of cash advances on consumers, each state now has specific regulations. States may ban cash advances outright or impose maximum APR, repayment terms and fee statutes to protect their residents. For example, payday loans are illegal in New York. However, it’s legal in Indiana, just as long as a payday loan is between $50 and $550 with a maximum 14-day repayment term and finance charges on the first $250 of payday loans no greater than 15%.
Here are the states where payday loans are illegal:
- Arizona
- Arkansas
- Connecticut
- District of Columbia
- Georgia
- Maine
- Maryland
- Massachusetts
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- Oregon
- Pennsylvania
- Vermont
- West Virginia
How to Avoid Traditional Cash Advance Scams
Over the past decade, hundreds of new financing opportunities have been made available to bad credit borrowers. However, plenty of opportunistic con artist loan companies are praying for those desperately needing emergency cash.
Thankfully, it is very easy to spot traditional cash advance scams.
Here are our top recommendations on how to avoid them:
Avoid Unsolicited Offers. If you have received an unsolicited offer for a ” guaranteed interest rate” or loan with outrageous marketing jargon, it’s likely to be a payday loan scam.
No Physical Address. Carefully review all the website disclaimers and check for a physical address. If no physical address is listed, consider it a red flag.
Understand Payday Loan Laws. Did you know that payday loans/traditional cash advances are illegal in 17 states, including the District of Columbia? S
According to the National Conference of State Legislatures (NCSL), states, where payday loans are legal, adhere to lending statutes governing maximum loan amounts, terms and finance charges that payday lenders can charge.
For example, Alabama payday lenders can only loan a maximum of $500 with a 10 to 31-day loan term, along with finance charges that cannot exceed 17.5% of the advanced amount. Thus, if you live in Alabama and receive a payday loan offer outside of these limits, run away as fast as you can.
Top Credit Unions For Instant Cash Advance Loans for Bad Credit
Suppose you prefer the safe confines of credit union membership. In that case, you will be pleased to know that there are plenty of lending opportunities in the form of low-dollar payday alternative loans and high-dollar bad credit personal loans.
Both of these loan options are excellent alternatives to instant cash advance loans.
After careful review, here are four highly recommended credit unions:
Pentagon Federal Credit Union (PenFed). PenFed offers a well-rounded personal loan program for up to $50,000 with APRs as low as 7.74% on up-to-60-month repayment terms. In addition, we appreciate it for no origination or prepayment penalties. Consider it an excellent option if you’re looking to fund higher dollar expenses such as home improvement projects and weddings. Finally, contrary to popular belief, you do not need to be a former or current military member to enroll.
First Tech Federal Credit Union. Calling itself a ” safe and secure banking home” on its homepage, First Tech Federal Credit Union has been in business for more than 70 years with a particular focus on tech companies. It offers a variety of loan products, including mortgages and personal loans.
Its personal loan program is strong, offering up to $50,000, with APRs as low as 8.99%. All the benefits include no origination/prepayment penalties and no payments for up to 45 days, offering greater flexibility, especially for first-time borrowers.
Alliant Federal Credit Union. One of the highest-rated online-only digital banks, Alliant Federal Credit Union, offers an excellent personal loan program, awarding as little as $1,000 to $100,000 at 10.49% to 12.49% APRs. Repayment terms are also good from one to five years with no origination/prepayment and same-day deposits, a feature only offered by 0% interest cash advances apps like Brigit and Earnin.
In short, Alliant Federal Credit Union is an excellent choice for the best credit union membership and the ease of use of instant cash advance apps.
Navy Federal Credit Union. Navy Federal Credit Union offers a variety of loan products, with personal loans being among its most popular. It issues loans from $250 to $50,000 at 7.49% to 18% APRs. Any repayment terms up to 36 months charge 7.49% to 18% APRs versus 14.79% to 18% APRs for repayment terms between 37 and 60 months.
We appreciate Navy Federal Credit Union for offering the lowest minimum borrowing limit of all the credit unions we’ve covered ($250) and much more favorable rates than direct lenders from lending networks like Money Mutual and ZippyLoan. This makes an excellent choice for low dollar expenses like past due electric bills.
Top No Credit Check Apps for Instant Cash Advance Loans Same Day
Here are our top no credit check apps for same day instant cash advance loans for bad credit:
Earnin. Earnin is one of the more popular same day cash advance apps. It offers same day cash advances of up to $100 per day or $750 per pay period at 0% interest with same day deposits for a small fee or free one to three business day transfers. We like Earnin because it offers cash advance no credit check options and no mandatory fees.
Brigit. With more than 4 million members to date, Brigit offers same day cash advances of up to $250. Additional features such as a credit B\builder and budgeting tools allow you to assess your spending habits and find new opportunities to save. With more than 260K App Store and Google Play ratings, Brigit is as legit a same day cash advance provider.
Dave. Dave is suitable for same day cash advances of up to $500 with an innovative program that allows you to get paid up to two days early. It also offers users additional features such as up to 15% cash back and side hustle job search functions on the app. With close to a million App Store and Google Play ratings, we’re highly confident in Dave’s same day offerings.
Cash App. Arguably the No. 1 most popular cash advance app, this same day peer-to-peer lending platform allows users to send and receive money with additional features such as stock and crypto investing. One option, “Cash Boost,” enables users to request a same day cash advance using a Cash App card, good for same day advances from $20 to $200 with two to four-week repayment periods in exchange for a flat 5% fee with a 1.25% finance charge if repaid after four weeks.
Albert. Albert offers same day cash advances of up to $250 with no overdraft fees or minimums. Additional tools included an automatic saving function based on cash flow and spending. It even has the option to invest in stocks. Requiring as little as $1 to get started. Consider this one of the more well-rounded apps that go well beyond offering cash advances.
MoneyLion. Calling itself ” the only money app you need,” MoneyLion offers same day cash advances of up to $250 at 0% interest. If you want a quick cash advance same day, expect to pay a small processing fee from $1.99 to $7.99. One of its best features is a credit-building function that allows you to save and build credit without hard checks.
Here you can find more apps for cash advances.
Top Cash Advance on Credit Cards from Banks
An often ignored source of cash advances is bank-issued credit cards.
Our top recommendations are based on cash advance APRs, terms and fees.
Capital One. All Capital One cash advance cards charge a fee of 3% of the cash advance amount or $10 (whichever is greater). Its variable APRs top 24.9 % (a stark contrast to its 13.9% to 24.9% variable APR for purchases. Outside of cash advances, Capital One credit cards offer several rewards programs that allow users to earn cash back or points on every qualifying purchase, which can be redeemed for airplane tickets, statement credits and much more.
Discover. Discover’s Flagship credit card is the Discover It Cash Back Credit Card, which allows you to earn 5% cash back on qualifying purchases for no annual fee. New cardholders enjoy a 0% great APR for 15 months, followed by a 16.49% to 27.49% variable purchase APR. Cash advance APRs on the Discover It Cash Back Credit Card offer a 29.49% variable APR and charge 5% of the cash advance amount or $10 (whichever is greater).
Citi. Like the Capital One card, Citi’s Custom Cash Card allows you to earn 5% cash back on eligible purchases and 1% on all other purchases. For example, after spending $1,500 in the first six months at a low introductory 0% APR, Custom Cash card holders can earn $200 cashback. With cash advances, there is a 29.74% variable APR, bumped up to 29.9% if you make one late or return payment. Fees are also reasonable, with 5% of the cash advance amount or $10, whichever is greater.
Chase. Chase offers decent cash advance opportunities with its credit cards, offering 29.49% variable APRs for most cards with a 5% of the advance amount or $10 (whichever is greater) charge.
Wells Fargo. Wells Fargo’s Active Cash Visa card offers a generous 0% interest rate APR (for 15 months) when opening an account and a 29.99% cash advance APR higher than average. However, like most cards, it charges a 5% loan advance fee or $10, whichever is greater.
Bank of America. Bank of America credit cards for different purposes, with some geared more towards cash back versus travel. Cash advance fees are 3% of 5%, depending on the transaction, e.g., 5% for cash withdrawals.
Paypal. The co-branded PayPal Cash Back Mastercard offers the highest cash advance APR of any credit card we’ve come across (variable 31.24% and additional cash advance fee).
Here are more banks that offer cash advance alternatives.
Excellent Instant Cash Advance Loans Alternatives for Bad Credit No Credit Check
If you prefer to go with something other than an instant cash advance loan from one of our lending networks, there are several alternatives. Most notably, they are cash advance apps (e.g., Earnin and Brigit), payday alternative loans (PALs) from credit unions and bad credit personal loans from direct lenders such as banks, credit unions and online sources.
Cash Advance Apps. We highly recommend cash advance apps like Earnin and Brigit, which offer up to $100 per day or $750 per pay period at 0% interest, just as long as you repay the advance on your next payday. One of its greatest benefits is convenience, with funds deposited to a direct deposit-collecting bank account within minutes.
Payday Alternative Loans (PALs). One often overlooked source of cash advance loans belongs to credit unions. Reputable institutions offer 0% interest loans of up to $2,000 with a max of 28% APRs and up to 12-month repayment terms.
Bad Credit Personal Loans. Credit unions’ second type of personal loan is bad credit personal loans. They tend to be much higher dollar value loans upwards of $50,000 with capped 17% APRs. Again, remember that minimum borrowing limits may be much higher than traditional cash advances, online cash advances and cash advance apps. However, that’s mainly offset by the fact that they offer longer repayment terms, often as long as 72 months.
Suppose you are looking to finance a large expense like unpaid hospital bills. This option could be viable over FundsJoy and ZippyLoan, which have much lower maximum borrowing limits at higher APRs.
Best Cash Advance Apps for Gig Workers
From freelance writers to rideshare drivers, the gig worker economy has grown exponentially, with many turning to freelance as their primary source of income. However, within this growing field is a need for a quick cash advance by gig workers, a void filled by reputable cash advance apps like Giggle, Lean and Coverr.
Giggle. Giggle is an excellent quick cash advance option for gig workers, providing funding of up to $5,000 at 0% interest, no fees and no credit checks. Although it has no credit requirements, Giggle bases its advance amount on reviewing cash flow from recent bank statements, with a minimum of three months in business to qualify. Rideshare drivers, small business owners, sellers, franchises and other independent contractors qualify.
Lean. With over 200,000 customers served to date, Lean offers one of the best quick cash advance services for gig workers, starting with zero-fee cash advances of up to $1,000. Instant payouts are also issued in real time once shifts are completed, providing quicker access to cash than direct transfers from gig worker companies. Lean also offers a built-in dashboard that allows workers to view all recent transactions and earnings.
Coverr. Coverr prides itself on offering the best cash advance of up to $1,500 for gig workers such as rideshare drivers, as well as delivery people. It provides an innovative system in that the amount you are eligible for depends on your past four weeks of earnings. All you need to do is provide your driver’s license, proof of four consecutive weeks of earnings and a completed online application to get approval and funding within 24 hours.
Are Cash Advances from Direct or Non-Direct Lenders?
Cash advances can come from direct and non-direct lenders.
Direct lenders known for issuing the best cash advance include banks, credit unions, online lenders and 0% interest cash advance apps like Earnin and Brigit. They offer much more competitive rates in terms and traditional cash advance places, many of them listed in Google when you type ‘cash advance near me.’ Rather than predatory 400% APRs and shorter to 4-week repayment terms, all of the aforementioned direct lenders offer sub-35.99% APRs and longer repayment terms. Reputable free instant cash advance apps include Earnin, Dave, Brigit and MoneyLion.
In turn, non-direct lenders mainly refer to lending networks like MoneyMutual and ZippyLoan, which operate as intermediaries connecting bad credit borrowers with a network of legit qualified lenders in exchange for receiving a commission off each brokered “sale.” Remember that they do not make lending decisions, so direct lender-specific services like forbearance/hardship options and dedicated customer support are not typically found.
Do Cash Advance Apps Offer Guaranteed Approval?
As with our loans, the best cash advance approval is never guaranteed. 0% interest cash advance online same day apps like Earnin, Brigit and Dave require that you be employed with a direct deposit collecting bank account.
In the absence of a credit score, other proprietary underwriting methods used by our list of cash advance apps determine a borrower’s ability to repay an advance, such as Brigit’s scoring system from 40 to 100 that grades borrowers on incoming cash flow, income and other variables to determine an advance amount offered. As a result, not all will qualify for the full $250 cash advance.
Luckily, our list of cash advance apps has no direct deposit options, but other underwriting variables remain. We highly encourage you to review our guide for a list of cash advance apps collectively earning millions of App Store and Google Play reviews.
Are Cash Advances Secured or Unsecured Types of Personal Loans?
There are two kinds of cash advances: unsecured and secured loans. Each has pros and cons with borrower risk, terms and fees, online and in cash advance places.
For starters, unsecured cash advances require collateral. Collateral could mean a vehicle, a $2,000 piece of jewelry, or a precious family heirloom. Any default on a cash advance will force lenders to repossess the collateral to recoup their losses, selling it in the open market.
The main reason why someone would want to take out a secured cash advance is to secure lower interest rates. Plus, a secured cash advance for bad credit/cash advance no credit check typically comes with longer repayment terms past the two- to four-week mark, providing borrowers with a lower monthly payment option for greater flexibility.
In turn, unsecured cash advances do not require borrowers to purchase collateral. Instead, eligibility for a loan is based strictly on creditworthiness, such as your income, where a minimum of $800 a month is required (NextDayPersonalLoan).
Remember, traditional cash advance places or reputable online fast cash advance options consider borrowers with unsecured cash advances as a higher risk, thanks to no collateral being used that could effectively lower interest rates. That’s why borrowing limits for secured instant cash advances are generally higher.
Cash Advances vs. Payday Loans
One glaring question bad credit borrowers may have is the difference between cash advances and payday loans. The answer concerns APRs/ fees, funding structure and regulations.
For starters, traditional payday loans are designed for short-term loans repaid two to four weeks out, charging outrageous 400% APRs and excessive renewal fees. In turn, online cash advance loans from reputable lending networks like MoneyMutual and ZippyLoans offer far better rates and terms (under 35.99% APRs with longer repayment terms than the standard two to four-week period).
It is also essential to distinguish between app-based cash advance services, brick-and-mortar cash advance places and instant online cash advances at lending networks. Also referred to as earned wage services, cash advance apps like Earnin, Brigit and Dave have exploded in popularity in recent years thanks to their generous borrowing limits (up to $100 per day/$750 per pay period), modest fee structure, bank-smartphone app integration and funding in minutes and exchange for a small fee.
In turn, traditional payday loan services offer no such ease of use. At worst, payday loan places still require borrowers to issue post-dated checks in the amount of the loan proceeds (plus all applicable finance charges), cashed out on a borrower’s next payday. There is also the option of authorizing electronic withdrawal, but repeated withdrawals open you up to consecutive overdraft fees if you are not careful.
We highly recommend avoiding traditional cash advances and payday loans at all costs. There are much more economical options like our list of cash advance apps, payday alternative loans from credit unions and bad credit personal loans.
Understand All Cash Advance Fees
To become a better borrower, it is essential to understand how cash advance fees work with a cash advance credit card.
For starters, cash advance fees typically comprise the percentage of the advance amount, anywhere from 2% to 5%. So, for example, a $4,000 cash advance will charge fees anywhere from $100 to $500.
Outside of this percentage fee, the most common types of credit card cash advance fees include flat fees (e.g., $10 to $20 per transaction), ATM fees, over-limit fees and even foreign transaction fees, which are issued when using your credit card to withdraw cash outside of the United States.
Remember, cash advance interest rates on a cash advance credit card. Expect cash advance interest rates to be a minimum of 25%. For example, the Chase Freedom Unlimited and Discover It Cash Back cards offer a cash advance APR of 29.49% versus U.S. Bank Visa Platinum’s lower 18.99% to 28.99% variable APRs. In addition, to entice bad credit borrowers into taking our credit cards may offer introductory 0% APR rates, cash-back rewards, discounts on third-party products/services and much more.
Even the best cash advance credit card will not offer fixed or variable advance APRs below 25%.
With all these fees on a cash advance credit card, we did not even include over-limit, late payments and annual fees. However, this is more a function of a credit card, not its cash advance service. Over-limit fees are assessed when a cash advance exceeds your credit limit versus late payment (self-explanatory) and annual fees in exchange for having access to the card over time.
Before taking out any cash advance credit card, we recommend reviewing all terms and conditions, including fee/interest rates, minimum/maximum amounts and even applicable ATM fees, which are not counted toward cash advance APRs.
Ways To Boost Your Credit Score For The Lowest Rates Possible
If you want to secure 5.99% to 12% APRs instead of 35.99% APRs, boosting your credit score by 50 or 100 points could pay tremendous dividends.
Here are our top suggestions for boosting your credit score:
Pay Bills On Time. Paying your bills on time is the number one way to maintain and boost your credit score. Be sure to prioritize your schedule for all monthly payments, making at least a minimum. Preferably you pay off total balances to pay down debt faster and save on interest and additional finance charges.
Use Autopay. Enrolling in automatic payments is one of the best ways to ensure you pay all bills on time. All credit card issuers offer auto-pay with the option for borrowers to determine how much to pay and when deductions are made. Try to pay the entire statement balance over minimum or custom amounts always. Bonus options include setting up email and text alerts reminding you of upcoming payments.
Do Not Max Out Accounts. With a credit utilization ratio accounting for 30% of your overall FICO credit score, avoid maxing out credit accounts at all costs. Instead, try to keep your credit utilization at or under 30%.
Make sure to distinguish credit utilization from your debt-to-income ratio. Your debt-to-income ratio is the monthly recurring obligations (e.g., mortgages and student loans) against your income. For example, a $10,000 monthly income and $6,500 revolving debts equal a 65% debt-to-income ratio. Some cash advance online same day providers require this.
Establish An Emergency Fund. Although establishing an emergency fund does not directly impact your credit score, it reduces the likelihood of falling into further high-interest debt. This is especially true for people who regularly visit cash advance places. Be sure to set aside money monthly through recurring transfers to a checking or savings account, eventually totaling six months’ worth of expenses in case of unemployment or other types of emergency.
Money Management Apps That Can Help You Budget Better
One of the best ways to manage monthly budgets and automate savings is through money management apps like Mint.com and Rocket Bill.
Mint. Long considered the gold standard as the number one most downloaded personal finance app of all time, Mint offers plenty of ways for those eligible for cash advance for bad credit/cash advance no credit check to improve finances. It allows you to view all your accounts in one place, including utility bills, credit cards and mortgage payments. By comparing cash flow to spending, your optimal position is to cut back on non-essential expenses.
Other features of mint.com include a bill payment tracker, a budgeting tool, due date alerts, budget categorization and a robust subscription management feature.
You Need A Budget (YNAB). YNAB is the budgeting app that allows you to link your accounts and import all your transactions across your computer, phone and tablet devices. It also has a robust goal-tracking feature that allows you to prioritize spending and savings and a loan calculator that tallies interest and projected payout dates to maximize savings. Our favorite YNAB feature is robust graphical and chart reporting with helpful stats such as average variable expense spent and net worth.
With YNAB, it may be the case where you do not type in ‘ cash advance near me’ or ‘ cash advance apps no direct deposit required’ into Google anymore.
Simplifi. A Quicken product, Simplifi allows you to see all incoming cash flow and expenses in one place. Its interface allows you to connect bank accounts, 401ks, investment brokerages, loans and other financial accounts in one easy dashboard. In addition, it helps track your spending across several categories and issues automatic notifications of upcoming bill due dates.
Rocket Bill. With over 3.4 million members who have saved over $245 million since its inception, Rocket Bill works a little differently than Mint, YNAB and Simplifi. It is designed to track all of your subscriptions, presented in one view. In addition, it offers a service that allows you to bulk cancel them, saving lots of time. Rocket Bill offers spending insights, net worth tools, spend tracking, automatic savings and even a free credit score outside a subscription service. If only it could cancel all those visits to your favorite cash advance places!
How Did We Choose These Lenders?
To compile this instant cash advance resource guide, we researched and evaluated more than 20 banks, credit unions and online lenders offering cash advances for bad credit loans, facing our findings on APRs, repayment terms, fee structure, ease of use and transparency.
APRs. Under no circumstances will we accept predatory rates. At best, expect to pay APRs of up to 35.99%. Anything about that is grounds for predatory rate territory. Typing “cash advance near me” into Google brings up these predatory lenders, often located in high-foot traffic areas like strip malls and commercial districts.
Repayment Terms. We highly prefer that the best cash advance companies offer longer repayment terms than the standard two to four-week option. With our recommended lending networks, loans can be paid off in 72 months. However, the longer the repayment term, the lower your monthly payments, but the higher the interest you will pay over time, so it is essential to keep a healthy balance.
Fee Structure. We prioritize direct that none direct lenders that offer
no origination or prepayment penalties, with a few exceptions. At best, expect to pay late or insufficient funds fees which is a standard cost of doing business.
Note that not all available options are free. For example, credit card cash advances are known for tallying three or more different fee types, including non-direct ones like ATM and annual fees.
Ease of Use. All of our recommended online marketplaces have loose eligibility requirements. For example, other factors such as your income and debt-to-income ratio are considered rather than requiring a minimum credit score. Outside of that, we prioritize online lending networks with simple and easy 5-minute applications and a list of cash advance apps that offer seamless integration between a smartphone app and a connected bank account to facilitate advanced requests.
Transparency. All of our lending recommendations must offer clear and highly visible disclaimers on the website that provide assurance. This includes representative loan examples and information on states of operation, exclusions and minimal data sharing with third parties.
Remember third-party reviews with online cash advance services and even cash advance places. Our recommended cash advance apps have hundreds of thousands of positive 4.5-star or higher reviews across the App Store and Google Play stores. Users are known to cite speedy transactions, ease of use and generous borrowing limits as reasons for high ratings.
Frequently Asked Questions
How can I get money instantly without a credit check?
There are many ways to instantly get money without a credit check, including non-traditional cash advances for bad credit options.
They fall into one of two baskets—predatory versus non-predatory. Predatory instant cash advance providers include payday, auto title and pawnshop loans known for outrageous 300% and 400% APRs, along with excessive rollover/extension fees.
In contrast, legit instant cash advance options like 0% cash advance apps (e.g., Earnin and Brigit), as well as alternative payday loans and bad credit personal loans from credit unions, offer the same benefit only at much lower APRs (up to 35.99%) with longer repayment terms and no origination or prepayment penalties.
What app gives you $250?
Many free instant cash advance apps offer a minimum of $250 with no cash advance fee or direct deposit required. Reputable options include Earnin, Brigit, Dave, MoneyLion and Albert, offering same-day funding (for a small nominal fee) or free 2 to 5-business-day deposits. Other benefits include no late fees, no credit checks and 0% interest.
Remember, our recommended free instant cash advance apps operate more as paycheck advance services than direct lenders. Therefore, all loan proceeds must be repaid with your next paycheck.
Are you looking for a longer repayment term on an online cash advance? Then, the best cash advance from reputable lending networks (FundsJoy) and bad personal credit loans/payday alternative loans from credit unions may be safer.
Can you get a small loan with a 500 credit score?
Someone with a 500 credit score can obtain a small loan in the $100 to $5,000 range.
One best cash advance option that immediately comes to mind is lending networks like Money Mutual, FundsJoy and ZippyLoans, which offer sub 35.99% APR loans of up to $15,000 for qualified borrowers that demonstrate minimum monthly earnings of $800 a month, government-issued photo ID and a valid bank account.
With no minimum required credit score, these lending networks are a vital lifeline for all those seeking emergency cash to cover life’s unexpected expenses.
Will Cash App let you borrow money?
Cash App has an instant cash advance option through its Cash App Borrow program. It offers cash advances of up to $200 in exchange for a flat 5% fee and a four-week repayment term with a 1.25% late fee every week until you repay the advance.
Thanks to its flat 5% fee on loan amounts and 1.25% late fee, we did not include Cash App as one of our preferred online cash advance options.
Can I get a loan with very poor credit?
Online lending networks like MoneyLion, FundsJoy and MoneyMutual specialize in this purpose, providing same day approval the next day and funding for bad credit borrowers and the 300 to 580 score range.
With these lending networks, expect sub 35.99% APRs, lengthy repayment terms and no origination or prepayment penalties from a legit network of participating direct lenders competing for your business.
Conclusion
An instant online cash advance from a reputable bad credit lender with no credit checks, favorable APRs and minimal fees offers a vital lifeline for those looking for emergency cash. You no longer need to search “cash advance near me” or ask Alexa for a list of cash advance stores in your neighborhood. Now anyone can benefit from loans not designed to break the bank, offering an excellent funding opportunity, regardless of creditworthiness.
The contents of this article are for information purposes only. All financial investments carry a level of risk, and it is recommended that you do extensive research and/or consult a trusted financial advisor prior to making a financial investment.
Members of the editorial and news staff of the Las Vegas Review-Journal were not involved in the creation of this content.