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LAST UPDATED: April 23rd, 2021

MoneyLion is an internet and app-based financial services company founded in 2013. The company offers financial services, free credit monitoring, and debit card memberships. This profile will focus on their short-term lending options.

MoneyLion offers a couple of membership options for access to its financial services. It's like a money club with three membership levels:

Core Membership — $0 per month

  • A checking account without fees and a Visa debit card, access to free ATMS
  • Managed investing
  • Gift card fees
  • 55,000 fee-free ATMS
  • Instacash, free with direct deposit set up (up to $250 per pay period)
  • Loyalty program applies, but there isn't a monthly payout
  • No credit score access

Credit Builder Plus — $19.99 per month

  • Zero-fee checking account
  • Managed investing
  • Credit builder loan
  • Instacash advances (0% APR)
    • Up to 50$ without direct deposit
    • Up to $250 if you connect
  • Lion’s Share Loyalty Program - with a cash payout up to the cost of the membership
  • Credit score weekly access

MoneyLion is an online hub for loans and credit. You can earn rewards, get membership access to insiders-only loans, investment, and money-management tools.

Top Ranked Companies


The Good

  • Credit Builder Plus
  • Borrow from Your Upcoming Paycheck

Credit Builder Plus

MoneyLion offers a credit builder loan through its Credit Builder Plus membership. This type of loan is a great opportunity for people that are having trouble finding credit-building opportunities. The membership costs $19.99 per month, but members have the opportunity to earn up to $19.99 in rewards each month in the Lion's Share Loyalty Program.

Borrow from Your Upcoming Paycheck

MoneyLion's InstaCash program offers consumers 0% APR cash advances by connecting your direct deposit to Money Lion. No credit check is needed. It borrows the money from your future paycheck and will just be deducted from your next direct deposit amount (up to $250 per pay period).


The Bad

  • Credit Builder Subscription

Credit Builder Subscription

Money Lion's Credit Builder plus is not free. You have to pay for it, so, it's like paying for building credit. However, you do have the opportunity to offset some of the cost with the MoneyLion rewards programs. Additionally, credit builder loans are a proven method of improving your credit score. However, there may be lower-cost credit builder options for you. Check out local non-profits and credit unions before you pay for a monthly subscription plus interest.


The Bottom Line

MoneyLion offers a good plan for future cash advance needs. If you often find yourself looking for a small advance, or would just like the peace of mind, sign up for this money management website and tool. As a free member, you can gain access to Instacash, cash advances to help in future circumstances. This is certainly cheaper than borrowing from a payday lender.

Have you tried out MoneyLion's InstaCash program for a time-to-time cash advance? Let us know about your experience with a quick review below. Would you recommend it to a friend? Why or why not?

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Iulia Nedelcu Portland, OR

Best loan application out there!! so glad I found this site will use it again in future *****

5 years ago