Start benefiting from Credit Builder Plus today
Welcome! Congrats on starting your credit-building journey with Credit Builder Plus. Did you know that 70% of members improve their credit by over 30 points within their first 60 days?* You’re so ready for this!
Five easy steps to get started
Here are the first five steps to begin maximizing your membership. You have a powerful financial starter kit in the palm of your hand. Ready, set, go!
- Build your Streak to boost your Lion’s Share payouts
- Fund your MoneyLion Checking account
- Get to know your Credit Builder Plus loan
- Explore your Instacash benefits
- Start investing in your personalized portfolio
You’ll find a bonus step at the end too. Please try to contain your excitement! Start these steps today and be ready to roar when your MoneyLion Visa® Debit Card arrives in the mail.
Step 1: Build your Streak in the app
The MoneyLion app is your financial easy button, helping you manage your money and lower your stress. So start logging in daily! As a Credit Builder Plus member, you are eligible for monthly Lion’s Share payouts, and getting the biggest payout requires daily logins. Keep your Streak going by opening the app and swiping until you reach the Financial Heartbeat every day.
You can also maximize your benefits by connecting your financial accounts to the app. It’s secure, and you’ll be able to manage all of your finances in one place. Track your spending, income, credit and more in the Finance tab and in the Financial Heartbeat. And get personalized alerts, financial advice, and savings tips.
Go the Finances tab to link your accounts now.
Step 2: Fund your MoneyLion Checking account
Your new checking account wants to protect you from bank fees, but it’ll need a little money in it first. Transfer funds to your account today so when your card arrives, you’ll be ready to spend smarter with zero bank fees. Plus, you can be eligible for the highest monthly Lion’s Share payout by making at least 20 purchases over $10 with your MoneyLion Visa Debit Card per month.
Three easy ways to fund your account:
- Tap the Transfer button on the Home screen or in the Finances tab to transfer money into your MoneyLion Checking account. You’ll get 100 points!
- Set up recurring direct deposits into your MoneyLion Checking account and get 1,000 points. Here’s how.
- Log into your external bank and transfer money to your MoneyLion Checking account. You can even transfer money from your PayPal or Venmo account!
Remember, points are redeemable toward gift cards to top spots like Walmart and Amazon. Check out the Rewards tab in the MoneyLion app for ways to earn and redeem.
Step 3: Get to know your credit builder loan
As a Credit Builder Plus member, you get access to a 5.99% APR credit builder loan. If you’ve taken it, you’ve now received up to $500 in your checking account. If you received less than $500 in your checking account, you’ll find the balance of your loan saved for you in a Credit Reserve Account in your name. Pop over to the Finances tab in the app to see it anytime! When you pay off your loan, you’ll get to access the cash in your Credit Reserve Account. Learn about other options here.
We’ll be reporting your payments to TransUnion, Equifax, and Experian every month to help build your credit score. Paying on time can have a powerful credit-building effect! Explore the Credit tab in the app, where you’ll get weekly credit score updates.
Step 4: Explore your Instacash benefit
As a Credit Builder Plus member, you get automatic access to up to $50 in Instacash advances. Tap the Instacash button on the home screen or in the Finances tab to explore. WIth access to 0% APR advances, you can top off your account day or night when you need a little extra cash.
Want more Instacash? Set up recurring direct deposits into your MoneyLion Checking account to increase your Instacash limit to up to $250 and automatically fund your account. Win-win!
Step 5: Start investing with as little as $1
Investing is the key to financial security, and your MoneyLion Investment account makes investing as easy as checking. Deposit any amount, any time — and we’ll make your money work as hard as you do, with no management fees. Here’s how:
- Tap Transfer on the Home Screen or in the Finances tab.
- Select or add a FROM account and a TO account.
- Type the amount and tap OK and Continue.
When you deposit money, whether $5 or $50 or $500, we’ll invest it for you in your personalized portfolio with no management fees. Explore your portfolio now by tapping Invest on the Home screen or Finances tab and then tapping Portfolio.
The sooner you start investing, the more opportunity your money has to grow over time. It’s a fact.
Bonus step! Explore the Financial Heartbeat monitor
Starting strong requires knowing where you’re at now so you can track your progress. The Financial Heartbeat tool is a first-of-its kind fitness tracker for your money that lets you monitor your financial health in the same way you’d use a Fitbit or Apple Watch to manage your physical health.
It monitors four areas of your financial health — Save, Spend, Shield, and Score — and celebrates your progress with Strive. Together, these five scores add up to your total Financial Heartbeat score (1.0 to 10.0, with 10.0 as a perfect score).
To reach the Financial Heartbeat feature, swipe through all your cards in the app — it will appear after you swipe past the trivia card. The more you link your financial accounts and engage with the app, the more this tool can help you strengthen your financial health.
Set yourself up for success
Follow the steps above and check on your finances every day in the MoneyLion app. You’ll be set up for success and on the path to financial security and excellent credit. We promise to make your journey fun, rewarding, and easy! Thanks for joining the MoneyLion pride.
* Credit score improvement is not guaranteed. Credit scores are independently determined by credit bureaus. Data was sourced from the first 1,357 Credit Builder Plus members who took out Credit Builder Plus loans, enrolled in credit tracking, and maintained their memberships for 60 days. Data gathered between 8/4/2019 and 10/17/2019.
MoneyLion Checking Account provided by, and MoneyLion Visa® Debit Card issued by, Lincoln Savings Bank, Member FDIC. Terms and conditions apply.
Current Credit Builder Plus membership required for Credit Builder Plus loan eligibility; the $19.99 monthly fee will be withdrawn from your linked bank account. All loans with an Annual Percentage Rate of 5.99% are made by either exempt or state-licensed subsidiaries of MoneyLion Inc. The Credit Builder Plus loan may, at lender’s discretion, require a portion of the loan proceeds to be deposited into a reserve account managed by ML Wealth, LLC and held by Drivewealth LLC, member SIPC and FINRA. The funds in this account will be placed into a money market cash management or FDIC bank sweep vehicle, and may generate interest at prevailing market rates. You will not be able to access the portion of your loan proceeds held in the credit reserve account until you have paid off your loan, and so long as your Credit Builder Plus membership payments are current. If you default on your loan, your credit reserve account may be liquidated by the lender to partially or fully satisfy your outstanding indebtedness. May not be available in all states.
Credit Reserve Accounts Are Not FDIC Insured • No Bank Guarantee • Investments May Lose Value. For important information and disclaimers relating to the MoneyLion Credit Reserve Account, see Investment Account FAQs and FORM ADV.
Investment advisory services provided by ML Wealth, LLC. Investment Accounts Are Not FDIC Insured • No Bank Guarantee • Investments May Lose Value. For important information and disclaimers relating to the MoneyLion Investment Account, see Investment Account FAQs and FORM ADV. Broker-Dealer may charge a $0.25 withdrawal fee, among other fees. Funded accounts are subject to administrative fee of $1 per quarter.
Cash advance requires current membership and MoneyLion Checking Account. All Credit Builder Plus members are automatically eligible to access up to $50 of cash advance. Cash advance limit can be increased to up to $250 by setting up direct deposit into MoneyLion Checking and after up to three consecutive direct deposits have cleared, or at MoneyLion’s discretion. See Membership Agreement and Cash Advance FAQs for more information.
Cashback Rewards are subject to terms and conditions, see here. MoneyLion rewards points are subject to terms and conditions, see here. Lion’s ShareSM Loyalty Program and monthly payment are subject to terms and conditions, see here.