Is MoneyLion a good cash advance app?

A word of caution: Users of cash advance apps, including MoneyLion, may risk becoming dependent on loans to cover regular expenses — a cycle of debt that’s difficult to break. It’s a good idea to consider affordable alternatives before getting an advance from MoneyLion. MoneyLion checking account holders.

Does MoneyLion report cash advance payments to credit bureaus?

Like many other cash advance apps, MoneyLion doesn’t report advance repayments to the three major credit bureaus, meaning on-time payments won’t help you build credit. The app does let users opt in to a Credit Builder Plus membership for $19.99 per month. The membership includes:

Is MoneyLion a good loan?

MoneyLion is best if you: Need money quickly. MoneyLion Instacash is designed as a short-term lending product. If you need funds right away, then MoneyLion may be a good option. Don’t need a high cash advance amount. It can take between three to eight weeks to be eligible for the highest MoneyLion limits.