Are you looking for the best reward earning credit card? Not every card offers credit card rewards points without requiring a hard credit pull or having high-interest rates attached. If you don’t have a high credit score, the interest rates you’ll pay on a credit card might not be worth the rewards points.
What if there was a way to get different types of rewards by using a debit card or small installment loan on everyday purchases? Today we’re shedding light on how to get credit card rewards – without the credit card.
Read on to find out more about our favorite way to earn rewards.
MoneyLion credit card rewards program alternative
When you’re a MoneyLion RoarMoney account holder you have access to powerful financial tools like virtual debit cards, 0% cash advances, low-cost Credit builder loans, investment portfolios, credit monitoring, and budget tracking tools–while earning rewards! Read on to find out how MoneyLion is changing the way you earn rewards.
No hard credit pull
Most credit card companies require a hard credit pull during the application process. That might be a bad move if you have poor credit, looking to improve your credit or you’ve recently had a hard credit inquiry.
MoneyLion is here to help members establish or build up their credit without a hard hit to their credit rating. Our RoarMoney accounts come with a safe and secure MoneyLion Debit Mastercard or virtual card for only $1/month.
The only information we need is basic personal and banking information to determine eligibility. Your account comes with a slew of reward earning opportunities just by using your debit card or virtual card when making purchases–no credit card needed!
Have you considered a small loan instead of a credit card? A Credit Builder Loan is an affordable credit building way to borrow money and only requires a soft credit pull. You could qualify for up to $1000 with competitive interest rates and affordable monthly payments right from the mobile application.
Learn how to qualify for a Credit Builder Loan.
Virtual debit card
Need access to your account now? Get instant access to your RoarMoney virtual card when you sign up for a $1/month RoarMoney account. Start earning rewards points right away in the MoneyLion mobile app. You can request a physical card to be sent to you and store your virtual card in your apple or google play store.
When you spend $10 or more using your RoarMoney virtual card of MoneyLion Debit Mastercard, you automatically are entered in for Priceless Surprises from Mastercard. You could win cash, trip, or special event tickets. There may be other Mastercard reward opportunities as applicable. The more you use your card, the higher your chances are of being a lucky winner! It’s as easy as swiping and earning!
Online Cashback That Keeps Getting Better
Earn online cashback of the month all year at your favorite retailers on the MoneyLion mobile app. During December earn cashback at Bath and Body Works, Best Buy, Macy’s, and Etsy when you purchase through the rewards tab– up to $40!
Use your MoneyLion Debit Mastercard or RoarMoney virtual card and your earnings are deposited into your RoarMoney account. Be sure to check the app daily as the merchants and offers are subject to change.
Shake ‘N’ Bank
Shake things up a bit–literally! When you make a purchase of $10 or more with your MoneyLion Debit Mastercard or RoarMoney virtual card you’ll earn up to the full amount of your purchase (max $120). You’ll be notified when it’s time to shake your phone and bank rewards!
Poor Credit = High-Interest Credit Cards
Struggling with bad credit? Don’t resort to high-interest rate credit cards to earn rewards. The luster of the potential points you could earn won’t outweigh the interest, annual fees, or sky-high penalties if you make a late payment.
Consider a competitive interest rate Credit Builder Loan from MoneyLion. You could qualify for up to $1000 with affordable monthly payments. Over 12 months, your positive payments are reported to all 3 credit bureaus and you could increase your credit score by 60 points within 60 days.
Cashback That Grows
When you earn cashback from rewards or interest earned on your Credit Builder Loan reserve account, we help invest for you. You can let your reward funds grow or withdraw at any time. For $1/month, there are no minimum fees to start investing and our auto investing feature allows you to effortlessly plan for the future.
Check Out How MoneyLion Rewards Exceeds The Rest!
MoneyLion banking offers the newest technology with our all-in-one financial membership and the highest bang for your buck rewards program. But the cashback earnings don’t stop there!
Spread the love with friends and family with the Credit Builder Plus Referral program. Use your unique referral link on the mobile app and share through text, email, or social media with no limit on referrals. When someone signs up for a Credit Builder Plus account with your referral link, you’ll both earn $10. Banking with all the extra perks–that’s the MoneyLion way!
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Disclosures
Credit Builder Plus membership ($19.99/mo) unlocks eligibility for Credit Builder Plus loans and other exclusive services. This optional offer is not a Pathward product or service. A soft credit pull will be conducted which has no impact to your credit score. Credit Builder Plus loans have an annual percentage rate (APR) ranging from 5.99% APR to 29.99% APR, are made by either exempt or state-licensed subsidiaries of MoneyLion Inc., and require a loan payment in addition to the membership payment. The Credit Builder Plus loan may, at lender’s discretion, require a portion of the loan proceeds to be deposited into a reserve account maintained by ML Wealth LLC and held by Drivewealth LLC, member SIPC and FINRA. The funds in this account will be placed into money market and/or cash sweep vehicles, 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. 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.
Credit score improvement is not guaranteed. A soft credit pull will be conducted which has no impact to your credit score. Credit scores are independently determined by credit bureaus, and on-time payment history is only one of many factors that such bureaus consider. Your credit score may be negatively impacted by other financial decisions you make, or by activities or services you engage in with other financial services organizations. MoneyLion is not a Credit Services Organization.
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 disclosures relating to the MoneyLion Investment Account, see Investment FAQs, Form ADV Brochure, and moneylion.com/investing. Accounts are subject to a monthly account fee of $1, $3 (accounts valued over $5,000), or $5 (accounts valued over $25,000).
Rewards are subject to terms and conditions, see here.
Rewards are an optional service offered by MoneyLion
MoneyLion is a financial technology company, not a bank. RoarMoney℠ demand deposit account provided by, and MoneyLion Debit Mastercard® issued by, Pathward®, National Association, Member FDIC. RoarMoney is a service mark of MoneyLion. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International. Funds are FDIC insured, subject to applicable limitations and restrictions, when we receive the funds deposited to your account.
Instacash is a 0% APR cash advance service provided by MoneyLion. Your available Instacash advance limit will be displayed to you in the MoneyLion mobile app and may change from time to time. Your limit will be based on your direct deposits, account transaction history, and other factors as determined by MoneyLion. This service has no mandatory fees. You may leave an optional tip and pay an optional Turbo Fee for expedited funds delivery. For a $40 Instacash advance with a Turbo Fee of $4.99, your repayment amount will be $44.99. Generally, your scheduled repayment date will be your next direct deposit date. An Instacash advance is a non-recourse product; you will not be eligible to request a new advance until your outstanding balance is paid. See Membership Agreement and help.moneylion.com for additional terms, conditions and eligibility requirements.