Loans
MoneyLion Plus Personal Loans review: get a loan easily
MoneyLion Plus Personal Loans helps people with poor credit scores build their credit through their repayments. Read on and find out!
Advertisement
MoneyLion Plus Personal Loans: easy-to-get loans for people with poor credit
This lender offers a unique product that allows you to build credit from scratch. If you have poor credit, read our MoneyLion Plus Personal Loans review and learn about it.
Applying for MoneyLion Plus Personal Loans
This MoneyLion Plus Personal Loans application guide is going to help you get approved today and start building your credit!
With its Credit Builder Plus+ Loan, MoneyLion Plus Personal Loans offers borrowers the chance to build credit for a monthly membership fee of $19.99.
Yes, paying a fee sucks, but the lender lets you stow away some money which will earn interest until the loan has been paid off.
- APR: Fixed 5.99% – 29.99%
- Loan Purpose: Debt consolidation, credit card pay-offs, home improvement, large purchase, and others
- Loan Amount: Starting at $1,000
- Credit Needed: Poor
- Terms: 1 to 36 months
- Origination Fee: 0% to 6%
- Late Fee: Up to $25
- Early Payoff Penalty: No
How does MoneyLion Plus Personal Loans work?
MoneyLion Plus Personal Loans are especially useful for consumers with poor or even no credit at all. If you can not get approved for a traditional loan, you might want to check this one out.
In spite of paying a $19.99 monthly fee, with their Credit Builder Plus+ Loan you have access to a low APR of 5.99%.
MoneyLion reports your loan payments to of the three major credit bureaus in the United States, Transunion.
With this, you increase your credit score by 42-plus points in a short period of time. Plus, with this product you get access to free credit monitoring and reporting on a weekly basis.
This allows you to keep track of your score. In addition to that you have access to cash advances without paying interest in many instances.
All you have to do is to set up a direct deposit, and you can get a cash advance of up to $300 every pay period.
Also, depending on your creditworthiness, when you sign up you can qualify for cash advances.
Not only that. With their loyalty program called Lion’s Share you can earn rewards which are enough to cancel out your monthly membership fee.
All you have to do is sign up for and regularly use a MoneyLion Visa debit card.
By logging into the MoneyLion app every month 20 days per month and making 20 transactions of $10 at least, you can offset your monthly fee.
You will be redirected to another website
By submitting this form, I agree that I am 18+ years old and I agree to the Privacy Policy and Terms and Conditions. I also provide my signature giving express consent to receive marketing communications via automated emails, SMS or MMS text messages and other forms of communication regarding financial products such as credit card and loans. Message frequency varies and represents our good faith effort to reach you regarding your inquiry. Message and data rates may apply. Text HELP for help or text STOP to cancel. I understand that my consent to receive communications is not a condition of purchase and I may revoke my consent at any time.
MoneyLion Plus Personal Loans: should you apply for it?
Now that you are familiar with this loan’s ins and outs how about comparing pros and cons? Our MoneyLion Plus Personal Loans review would not be complete without it.
So have a look at the list below and compare this loan’s benefits and disadvantages.
Pros
- You can easily qualify for this loan
- Allows you to build credit
- Convenient app
- No prepayment fees
Cons
- May charge an origination fee
- Charges a late payment fee
- High monthly fee
- Not available in Vermont, Nevada, Nebraska, Iowa or Indiana
What is the required credit score?
MoneyLion Plus Personal Loans are available to borrowers of all credit scores. If you have poor credit, you may still be eligible for this loan.
Learn how to apply for MoneyLion Plus Personal Loans
If MoneyLion Plus Personal Loans sound like a fit to you, you might want to take the next step and apply.
If that is the case, click the link below for our complete application guide for this loan.
Applying for MoneyLion Plus Personal Loans
This MoneyLion Plus Personal Loans application guide is going to help you get approved today and start building your credit!
About the author / Danilo Pereira
Trending Topics
NedBank Gold Card online application
Here’s a guide on how to apply for the NedBank Gold Card with all the information you need to know about this exclusive credit card.
Keep ReadingCredit One Bank® Platinum Visa® for Rebuilding Credit review
Is the Credit One Bank® Platinum Visa® for Rebuilding Credit Credit Card a good choice for you? Read this review to find out!
Keep ReadingDiscover it® Miles review: Unlimited 1.5 Miles per Dollar
If you are looking for a credit card that gives you good mileage per dollar, read this Discover it® Miles review and learn all about it.
Keep ReadingYou may also like
Upgrade Visa with Cash Rewards card application
Apply for Upgrade Visa with Cash Rewards credit card to enjoy cash back rewards and special payment conditions for your card's balance.
Keep ReadingDestiny Mastercard® Credit Card review
Read this review to learn about the advantages and disadvantages of getting the Destiny Mastercard® Credit Card to improve your credit score.
Keep ReadingHow to join and start banking with Alliant Bank?
It's time for you to start banking with a versatile institution. Here is our guide to help you join Alliant Bank with a high-yield account.
Keep Reading