Apps That Let You Borrow Money – Help in a Pinch
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If you need extra cash ahead of payday, you may feel like your options are limited. Taking out a traditional payday loan often comes with predatory terms and sky-high interest rates — plus, you typically need to pay this back quickly before these high fees and stipulations kick in.
While personal loans may help you get the funds you need, you may not be able to get the money quickly enough. You often need a stellar credit score to get approved at a reasonable interest rate. Sometimes, you can take out a payday advance from your job, but there are usually limits on how much money you can take out, and not every workplace offers this option.
What’s the best way to borrow money in a pinch when you need funding fast? Well, there may be an app for that. I’ll take you through some of the most popular apps that let you borrow money so you can decide if these options are right for you.
In this article
What are money-borrowing apps?
If an emergency arises, you may not always have the cash to cover the expense. A recent survey found more than half of Americans are unprepared to cover a $1,000 emergency expense. If there’s not enough in your emergency fund — or you don’t have one — borrowing money from a money-lending app may help.
Money lending apps can offer you an advance on money with just a few taps on your smartphone. These apps can be a good solution to high payday loan fees, but they’re not without their own costs and risks. Each app has its own costs and APRs to be aware of.
Here are our top 10 picks for apps that let you borrow money.
Use Quicken Loans to Get a Personal Loan
- If you're tight on cash right now, you may want to consider getting a personal loan. A personal loan is a loan that you can use for just about any purpose like: paying off other debt, renovating your home, or family needs like a wedding or adoption.
- TrustPilot Rating 4.6 out of 5
- Connect with lenders for $0
- 100% online experience.
Overview of the best apps for borrowing money
Money-Borrowing App | Best For |
Dave | Low fees |
Brigit | Robust credit-building features |
Earnin | Free option |
Money Lion | Advanced financial features |
Chime (Spot Me) | Bank account option |
Empower | Those with low credit |
PayActiv | Workplace access to the app |
Cash App | Receiving money from friends and family |
Best apps for borrowing money
Dave - Best low-fee option
The money-borrowing Dave app is great if you want to avoid high fees. allows you to get up to $500 in cash advances from your paycheck and doesn’t charge any interest. It does have a $1 membership fee and an option to tip, but otherwise, it’s fee-free.
If you sign up for a Dave spending account — similar to a checking account — you can often secure payday advances for larger amounts. This app also offers the ability to look for side hustles to earn extra money. Plus, when you pay the advance back on time, it helps build your credit.
There’s no credit check, but to take advantage of the highest borrowing amount, you’ll need to open a Dave cash account and use your Dave debit card to access your funds.
Brigit - Best money advance app with robust credit-building features
Another option similar to Dave is Brigit. This financial app lets you borrow up to $250 without a credit check before your next payday. There’s no interest, no hidden fees, and the app doesn’t accept tips, so what you borrow is what you pay back.
When you pay back your Brigit loan, it’ll reflect on your credit report — so if you pay it off in full, on time, you could boost your credit score. You’ll also gain access to credit reporting tools to monitor your financial progress and money insights to help you better reach your goals.
Like Dave, you’ll also have access to available side hustles you can work to earn extra money. And you’ll get overdraft alerts if your bank account is in danger of going into the negative.
The downside? Brigit costs $9.99 to use all of these features. It does have a free version, but this version doesn’t offer cash advances, so you’ll have to pay for that option.
Earnin - Best free option
Earnin is a money-borrowing app that lets you access up to $750 of your paycheck when you need it for free. This app connects directly to your bank account and allows you to withdraw up to $100 per day early from the paycheck you’ve already earned — before payday hits.
Earnin has no mandatory fees or interest. It has a tipping option, but it’s not mandatory and won’t impact your loan amount. This app also offers free banking features, such as low balance alerts that will let you know when your balance falls below the specified amount.
If you need even more money, you can sign up for Earnin Express, another free option that allows you to access more of your paycheck — up to $1,000 in advance — and provides paydays up to two days earlier by routing it through Earnin.
MoneyLion - Best borrowing app with additional money services
This money-borrowing app grabs you up to $500 in advance each payday through its Instacash feature. All you need to do is sign up for MoneyLion's mobile app, link your bank account, and request your cash advance.
Need more money? If you sign up for a RoarMoney bank account, you can get an advance of up to $1,000 at 0% interest. There are no credit checks or hidden fees.
MoneyLion also boasts various financial features, such as rounding up your purchases and automatically investing the change in Bitcoin or another investment option — though you’ll pay a $1, $3, or $5 monthly fee for this service.
You can also apply for a credit builder loan to help you get the money you need now while offering a way to build credit when you repay the loan. This service costs $19.99 a month, however, but provides various credit-focused tools. Otherwise, you can use the free payday advance options — but these won’t boost your credit.
Use Quicken Loans to Get a Personal Loan
- If you're tight on cash right now, you may want to consider getting a personal loan. A personal loan is a loan that you can use for just about any purpose like: paying off other debt, renovating your home, or family needs like a wedding or adoption.
- TrustPilot Rating 4.6 out of 5
- Connect with lenders for $0
- 100% online experience.
Chime SpotMe - Best bank account option
If you need extra money in a pinch, offers an easy way to access funding — if you’re a current customer. When you sign up for a Chime bank account, you’ll quickly receive a few ways to get money from your paychecks.
First, Chime lets you get paid two days earlier than most banks, so you’ll have your funds even sooner. But if you need money sooner, use Chime’s SpotMe option. This option lets you overdraft your account — meaning you can spend more than the available balance — up to $200, penalty-free.
Some eligibility requirements for SpotMe include holding a Chime bank account. You can also send bumps to your family and friends (and receive them) to boost the amount you’re allowed to “borrow” through SpotMe.
Learn more about Chime and SpotMe.
Use Quicken Loans to Get a Personal Loan
- If you're tight on cash right now, you may want to consider getting a personal loan. A personal loan is a loan that you can use for just about any purpose like: paying off other debt, renovating your home, or family needs like a wedding or adoption.
- TrustPilot Rating 4.6 out of 5
- Connect with lenders for $0
- 100% online experience.
Empower - Best for those with low credit
You don’t need a high credit score to get a payday loan that’s reasonable and fast. Though most of the apps on this list do not qualify you for an advance based on a credit check, Empower takes this to the next level, offering not only a cash advance feature but also a line of credit with a 0% APR (so long as you pay your balance on time).
You don’t have to open a checking account with Empower to take advantage of these features, though you may want to. Empower lets you get your payday money two days earlier and has no overdraft fees. It also offers instant delivery of your cash when requesting a payday advance.
With Empower, you can get up to $250 through a cash advance and up to $1,000 in credit (you’ll start with $250 and build up your limit with each on-time payment). There’s no credit check, but paying on time will boost your credit score, which is particularly helpful if you have low or no credit.
This is a good option for anyone needing extra funds who doesn’t want to switch bank accounts to take advantage of cash advances and needs a bit of a credit boost.
Learn more about Affordable Credit, Designed for Everyone Empower.
Use Quicken Loans to Get a Personal Loan
- If you're tight on cash right now, you may want to consider getting a personal loan. A personal loan is a loan that you can use for just about any purpose like: paying off other debt, renovating your home, or family needs like a wedding or adoption.
- TrustPilot Rating 4.6 out of 5
- Connect with lenders for $0
- 100% online experience.
PayActiv - Best for those with workplace access to the app
PayActiv works with many employers to offer early paychecks and cash advances, but if your work doesn’t have a partnership with this financial app, you can still take advantage of some of its free features.
Those with a workplace PayActiv account can access the money earned for hours worked in advance through PayActiv’s Earned Wage Access feature. You can then use your earned wages to pay for bills, upcoming expenses, or everyday purchases like groceries or gas.
If your workplace doesn’t partner with PayActiv, you can sign up for the company’s free card to get access to your paycheck two days earlier and government payments four days earlier. You’ll agree to receive your paychecks on the card when you sign up to enjoy early access. There’s no fee to sign up and no annual card fees. You can’t request a paycheck advance unless your job is enrolled with Payactiv.
CashApp - Best for receiving money from friends and family
When you sign up for a Cash App bank account, you can access your paychecks up to two days early. While you can’t request a payment advance earlier than this, this payment processing app lets you send money to friends and family. So, you could ask someone in your network to lend you a sum of money — and then pay it back to them when your paycheck hits.
This option has fewer features than any of the payday advance apps on our list, but it can come in handy if you want a quick way to send or receive money and get your paycheck a little sooner.
Use Quicken Loans to Get a Personal Loan
- If you're tight on cash right now, you may want to consider getting a personal loan. A personal loan is a loan that you can use for just about any purpose like: paying off other debt, renovating your home, or family needs like a wedding or adoption.
- TrustPilot Rating 4.6 out of 5
- Connect with lenders for $0
- 100% online experience.
Best apps for borrowing money summary
Money-Borrowing App | Early Paycheck | Paycheck Advance | Cost |
Dave | 2 days early | Up to $500 | $1 per month |
Brigit | N/A | $250 | $9.99 per month for paycheck advances |
Earnin | In some cases | $750; $1,000 (with Earnin bank account) | Free |
Money Lion | 2 days early with Roar Account | $500 - $1,000 | Free - $19.99 per month |
Chime | 2 days early | Can overdraft by $200 | Free |
Empower | 2 days early | $250 paycheck advance; $250 - $1,000 in credit | Free |
PayActiv | 2 days early; 4 days early for government payments | Only if your employer has partner with PayActiv | Free |
Cash App | Up to 2 days early | No | Free |
FAQs
What is a payday advance app?
Apps that let you borrow money, also known as payday advance apps, allow you to pull funds from your paycheck earlier than your pay date. Each of these mobile apps offers different features, but many allow you to borrow between $250 - $500 early, while some offer a percentage of your paycheck in advance. Many apps also allow you to get paid up to two days earlier when you enroll in their banking or card services and have your paychecks route there.
Are payday loans the same as money-borrowing apps?
No. Payday loans are available at cash advance companies. These loans often have unfavorable terms and can get you into debt. With high interest rates, steep fees, and inflexible repayment dates, payday loans can exacerbate your financial struggles, creating a cycle of borrowing and repayment that’s hard to get out of. Money-borrowing apps usually let you borrow funds before your payday for no interest and automatically deduct the amount borrowed from your next paycheck. They’re typically free or low-cost and have more favorable terms. You can still get into trouble by not paying back a loan on time.
Is a money-borrowing app better than a loan?
That depends on what you need. A money-borrowing app offers you a short-term loan against your paycheck or direct deposits. It’s typically a small amount and comes right out of your account once your employer pays you. It can help you bridge the payday gap and offer extra cushioning for bills or essential purchases. A loan typically has a longer repayment period and is often for a larger amount (many loans have minimum borrowing amounts of $1,000 - $5,000). Whether or not you’re eligible for a loan will depend on your credit score and borrowing history. Money-borrowing apps typically do not utilize your credit score for approval. You’ll also pay back the loan with interest, while most money-borrowing apps are interest-free. Repaying a loan on time can also boost your credit score — some cash advance apps have this service, but others do not. With this in mind, money lending apps and loans will often charge you higher interest if you do not repay your loan on time or frequently have late payments.
Do money lender apps help your credit score?
If you take out a payday advance from a money-borrowing app, you may be able to boost your credit score. Some apps that let you borrow money report your payment history to the three major credit bureaus, which means you can get a positive boost on your credit report by repaying the balance on time. Not all of these money apps offer this feature and some require payment to boost your credit, but some, like Empower, offer this service for free.
Are payday advance apps free?
Some cash advance apps are free, while others charge monthly or membership fees. While these fees are usually less expensive than payday loan fees, they’re important to consider before signing up for a service. Other apps may offer cash advance features for free but provide optional tipping services to keep the app afloat. While tipping your app isn’t mandatory, these apps may ask you repeatedly about tipping, diminishing your user experience on the platform.
Use Quicken Loans to Get a Personal Loan
- If you're tight on cash right now, you may want to consider getting a personal loan. A personal loan is a loan that you can use for just about any purpose like: paying off other debt, renovating your home, or family needs like a wedding or adoption.
- TrustPilot Rating 4.6 out of 5
- Connect with lenders for $0
- 100% online experience.
The bottom line
If you need access to your paycheck a little earlier, many banks and payment apps provide instant cash advances — usually two days ahead of scheduled paydays. However, using a paycheck advance app may be your cheapest option if you need extra money between paychecks.
Paycheck advance apps let you borrow money against your paycheck and automatically deduct it when it hits. These apps often do not charge interest and are a good way to get access to your money sooner without paying hefty fees, penalties, and APRs.
Just be sure to sign up for a money-borrowing app with a reputable financial institution that fits your financial needs — it may not make sense to pay for an app you only plan to use once.
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Writer
Courtney Johnston is a freelance writer, specializing in finance, travel, and health. She has written for The Chicago Tribune, Benzinga, BestReviews, Mashvisor, Fundera, MoneyGeek, and The Culture Trip. She also teaches writing instruction at the University of Indianapolis. Courtney currently resides in Indianapolis.
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