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MoneyKey

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6.6

Overall Score

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LAST UPDATED: October 24th, 2023

MoneyKey is an online direct lender and credit services provider, providing short-term unsecured installment loans and lines of credit to borrowers with less-than-perfect credit. Ideal for emergencies and/or unexpected expenses, applying is quick and easy and borrowers may receive funds as soon as the same business day. And if you have any questions along the way, a MoneyKey representative will be happy to help you.

It is important to note that MoneyKey provides short-term installment loans, similar to what is offered with a payday loan, but your loan term can range from 6 to 18 months. In addition, rates may be higher than you might see with other lenders who offer much longer loan terms up to multiple years.

MoneyKey also offers lines of credit, which are open-ended loans, allowing you to withdraw money, so long as you have available credit and your account is in good standing.

Continue reading for a complete review of this lender.

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The Good

  • Low-Credit Lending
  • Quick Application and Approval
  • Loan Amounts
  • Lines of Credit Available

Low-Credit Lending

Loans through MoneyKey are available to borrowers with bad credit and even no credit. No minimum credit score requirement is disclosed on the MoneyKey website, but you must meet the following criteria to qualify:

  • Be of legal age to contract in your state
  • Be a U.S. citizen or permanent resident
  • Be a resident of a state where loans through MoneyKey are offered
  • Have an active bank account
  • Have a verified source of income
  • Have a valid phone number and email address

Quick Application and Approval

The MoneyKey loan application can be filled out and submitted online, making it a convenient and efficient process. But, if you happen to have questions while completing your application, you can call MoneyKey and speak to a representative that can assist you. If approved for a loan through MoneyKey, you can receive your money as early as the same business day.

Thus if you are looking for some extra cash for an emergency or unexpected expense that has come up, MoneyKey could be a good option for you.

Loan Amounts

MoneyKey offers installment loans of $200 to $2,500. Since MoneyKey offers short-term loans, it is expected that you will pay your loan back quickly, which is reflected in the amounts that are offered.

Lines of Credit Available

In addition to installment loans, lines of credit are also offered through MoneyKey.

A line of credit is a borrowing option that gives you access to funds up to your credit limit. It is a revolving loan that, unlike a traditional payday or installment loan, generally remains active even after you have paid it down to a zero balance. This means that as you pay down your balance, you can continue to withdraw money up to your available credit limit.

To apply for a line of credit you will complete an online application, choose your credit limit (from $200 to $2,500), and then if approved you can begin withdrawing money as needed. MoneyKey line of credit approval is fast and you can close your account at any time, as long as you have repaid any outstanding balance.

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The Bad

  • Limited State Availability
  • No Loans Available to Military Personnel

Limited State Availability

Installment loans and lines of credit through MoneyKey are not available nationwide. To be eligible to apply for an installment loan you must live in one of the following states:

  • Delaware
  • Idaho
  • Mississippi
  • Missouri
  • Texas
  • Utah
  • Wisconsin

To be eligible to apply for a line of credit through MoneyKey, you must live in one of the following states:

  • Kansas
  • Tennessee

No Loans Available to Military Personnel

No credit products offered through MoneyKey have rates that would meet the requirements applicable to lending to covered members of the US Armed Forces and their dependents.

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The Bottom Line

An installment loan through MoneyKey is a great option for emergencies or unexpected expenses, offering smaller loan amounts as early as the same business day. Available loan terms are shorter than you will find with many other traditional lenders, and MoneyKey does encourage customers to repay their loan as early as possible to reduce the total cost.

If you would prefer an alternative borrowing method to an installment loan, MoneyKey also offers lines of credit. However, it is important to note that both installment loans and lines of credit offered through MoneyKey are only available in a handful of specific states.

We would recommend that you carefully assess your borrowing needs and other loan provider services before making a decision, but if you are in need of a smaller amount of money that you can pay back quickly, MoneyKey could be a good option for you.

There are currently no MoneyKey reviews. If you have borrowed from this company, in either the form of an installment loan or a line of credit, please let us know about your experience by leaving a review.

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Star Rating

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4.1

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149 Reviews

Review Breakdown

5 grade

73%

4 grade

14%

3 grade

5%

2 grade

5%

1 grade

3%

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gary holer Plano, TX

No explanation on the interest rates until the end of the loan process. I also don’t like that Money Key has access to my Bank. Have trust in your customers.

8 months ago

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Reply from MoneyKey

Hello Gary,
We aim to be as transparent as possible when it comes to the cost of credit products offered through MoneyKey. Details about the cost of borrowing can be found in disclosures provided during the application process. Consumers also have the option to learn more about the cost of credit before submitting an application by calling us at 1-866-255-1668 or visiting our Products & Services page at https://www.moneykey.com/products-services/.
Please note that any financial details requested by MoneyKey are for the purposes of assessing applications for credit. We ensure that any information collected is done in compliance with all applicable federal and state regulations. If you have any specific concerns, please email us at [email protected]. Thank you.

Jul. 11th, 2023

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Tonia Houston, TX

Barely give you a week if that long to start taking their money back! Doesn't even make sense! If someone needs a loan why would you expect them to start paying back a week later

1 year ago

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Reply from MoneyKey

Hi Tonia, your feedback is valued. We’re interested in hearing from you and addressing your specific concerns. Please send an email to [email protected] with your details so we may look into your experience and answer any questions that you might have. Thank you.

Jul. 28th, 2022

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David Odessa, TX

Intrest rate is nothing but theft. Should be more reasonable. Too bad I have to make a deal with the devil when I am in dire need.

10 months ago

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Reply from MoneyKey

Hi David, we appreciate your feedback. We aim to be as transparent as possible when it comes to the the Line of Credit through moneykey.com. All details about the cost of borrowing can be found on our website https://www.moneykey.com/line-of-credit-loans-online/cc-flow-rates/. If you have any additional questions or concerns, you can email us at [email protected]. Thank you.

May. 3rd, 2023

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Mary I Munoz Brownsville, TX

They take for ever to give you a chance to borrow higher amounts.

1 year ago

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Reply from MoneyKey

Hello and thanks for providing this feedback. We’re sorry to hear about your negative experience. In order for us to protect your privacy and fully investigate your experience, please send an email to [email protected] with your details.

Jul. 4th, 2022

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Brian yeary Santa Fe, NM

They are so easy to work with..the website is so easy to use

2 years ago

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Reply from MoneyKey

Hi Brian, We’re glad you have positive feedback about the service you received. Are you sure you want to leave a 2-star rating? If so, we want to hear more about your experience at [email protected] to help us improve our service.

Mar. 10th, 2022

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Joseph Laduca El Paso, TX

Loan shark type interest rares. Pure usuary.

2 years ago

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Reply from MoneyKey

Hi Joseph, we appreciate your feedback. We aim to be as transparent as possible when it comes to the repayment terms and conditions on products offered through MoneyKey.com. In order to address your concerns, we need additional information regarding your experience. To protect your privacy, please send an email to [email protected]. Thank you.

Mar. 31st, 2022

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Kiristie IL

The process to get the loan is a pain and the interest rate is way high.

1 year ago

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Reply from MoneyKey

Hi Kiristie, we value your feedback. We’re interested in hearing from you and addressing your
specific concerns. Please send an email to [email protected] with your details so we
may properly address any questions or concerns that you might have. Thank you.

Jan. 27th, 2023