MoneyLion is a financial technology platform that provides banking, lending, and credit-building services through an app. Key offerings include "Credit Builder Plus" loans to build credit, 0% APR cash advances (Instacash), and tools for tracking credit scores. It is not a bank, but rather a fintech company offering services through partners.
No hard credit checks: MoneyLion uses a soft credit inquiry along with other basic financials to determine your eligibility. This loan is designed to help build credit. Offers cash advances: MoneyLion also offers interest-free cash advances, called MoneyLion Instacash, of up to $700 (for Credit Builder Plus members).
Applying for loans or financial products might have an impact on your score, but not MoneyLion Credit Monitoring. We work as a provider for your data and signing up for Credit Monitoring will not have any negative impact to your score.
MoneyLion Credit Builder Honest Review - Watch Before Using
Which bank owns MoneyLion?
The Board of Directors of both Gen and MoneyLion have unanimously approved the proposed acquisition of MoneyLion by Gen for $82.00 per share in cash payable at closing, representing a cash value of approximately $1 billion.
The size of your personal loan will depend on factors like your income, your ability to repay the loan, your debt-to-income ratio, and your credit score. Generally, funding amounts can range from small personal loans of around $500 to $100,000.
There is no commitment to using Instacash; you can stop using Instacash at any time simply by not requesting any further Instacash Advances (as defined below). INSTACASH IS NOT A LOAN. MONEYLION IS NOT LENDING YOU MONEY IN CONNECTION WITH THE INSTACASH SERVICE. THERE IS NO OBLIGATION TO REPAY AN INSTACASH ADVANCE.
Fair credit (580-669) may qualify for a personal loan, but at higher rates. Good credit (670-739) usually unlocks lower APRs and larger loan amounts. Excellent credit (800+) or very good credit (740-799) often qualifies for the most competitive rates and fees.
Your credit limit is the total amount you are approved to borrow. Available credit is the amount you currently have left to spend. For example, if your credit limit is $5,000 and you've spent $2,000, your available credit is $3,000.
A $200 credit line on your credit card is the maximum amount you can charge to your account, including purchases, balance transfers, cash advances, fees and interest. “Credit line” is a synonym for “credit limit” when referring to a credit card.
A credit limit is the maximum amount of money a lender will allow you to spend on a credit card or a line of credit. Knowing your maximum, however, does not mean it's a good idea to reach it.
MoneyLion is a financial technology company, not a bank. RoarMoneySM demand deposit account provided by, and MoneyLion Debit Mastercard® issued by, Pathward, National Association, Member FDIC.
There is no minimum credit score needed for a MoneyLion loan. That's because MoneyLion does not do a credit creck at all, which means even people with bad credit or no credit can qualify. However, there may be more worthwhile alternative lenders for you to consider.
Its mobile app has earned strong reviews on iOS and Android, but consumer feedback is mixed, particularly regarding fees and customer service. MoneyLion is safe to use, but it's important you understand the membership model and repayment requirements.
If you no longer wish to repay your advances, you can revoke your payment authorization by:
Removing your payment method in the MoneyLion app.
Contacting Customer Care at: 📧 [email protected]. 📞 1-844-224-0087. ✉️ ML Plus LLC, Attn Customer Service, 60 E Rio Salado Pkwy Ste. 1000 Tempe, AZ 85281.
The CFPB filed its original complaint on September 29, 2022 (which was later amended in 2023 and 2025), alleging that MoneyLion violated the MLA and CFPA through a membership program in which consumers were offered credit-building installment loans with comparatively low APRs if they paid a monthly membership fee.
Loans are typically funded within 3 business days after you sign your Credit Builder Plus Loan documents. (Business days are Mondays through Fridays, excluding bank holidays.) Federal Holidays: We will continue to process loan applications during any federal holidays; however, funding may be delayed.
The maximum total purchase amount per day is $10,000. MoneyLion is a financial technology company, not a bank. RoarMoney℠ demand deposit account is provided by, and MoneyLion Debit Mastercard® is issued by, Pathward®, National Association, Member, FDIC.
