Getting next day personal loans doesn’t have to be a confusing and long process. When you need cash quickly and are making moves to build your credit score, waiting around probably isn’t your first choice.
This guide is going to give you the down-low on how you can get next day personal loans with no hidden fees. Here’s how!
What to do before applying for a loan?
Before venturing out to apply for a loan there are a few things you can do to help raise your odds of getting approved for a loan and avoid paying high interest rates and fees.
People who qualify for loans as quickly as possible and with the best rates likely have good credit scores and can prove steady income. So first off, take a look at your credit score. Next, make sure your bills are paid on time and you have no mistakes on your credit report. File a claim with the credit rating company to fix any mistakes you find.
You’ll also want to address delinquent accounts and have a consistent banking history with proof of income.
How to get a same day loan
No need to wait a whole day for approval, with MoneyLion, you can often apply and get an approval the same day!
Try a MoneyLion loan
A Credit Builder loan from MoneyLion can help you if you need a little extra cash but it can also be an easy way to help raise your credit score as well as monitor and track your score. You can get access to all of this once you sign up for the Credit Builder Plus membership for$19.99 a month.
What information do you need to provide?
To apply for a MoneyLion Credit Builder loan, you’ll need to be at least 18 years old, be either a U.S. citizen or a permanent resident of the United States, have a Social Security number, and have a checking or spending account.
Once you provide that information, we’ll conduct a soft credit pull that won’t affect your credit score. From there, you’ll just have to link your primary checking or spending account, and then we’ll securely scan your finances to see if you qualify.
Your linked account must be in good standing with proof of an income stream. The account needs to have been open for at least 60 days and contain an acceptable balance as determined by MoneyLion and your active transaction history.
Do I need a job?
To qualify for a Credit Builder loan, you’ll need to prove some type of income. Acceptable proof of income includes a paycheck, salary, or benefit income.
What if I have bad credit?
Having bad credit won’t stop you from qualifying for a MoneyLion loan. Our loans are here to help you improve your credit score and establish a credit history.
How much can I borrow?
If you qualify for a MoneyLion Credit Builder loan you could get up to $1,000. Most people get less than half of their loan right away and the remaining portion of the loan amount is held in a Credit Reserve Account in your name.
How long do I wait to get paid?
With a MoneyLion Credit Builder loan, you could get same-day funding. You’ll receive a portion of the loan funds after signing the loan agreement and will receive the remainder of the loan after making your final loan payments*.
Will a MoneyLion Credit Builder loan improve my credit score?
We report your payment history to the three credit bureaus, so making on-time monthly payments allows you to take steps to help improve your score.
Quick online application
From start to finish the whole application process might only take a few minutes with simple qualifications needed. Fill out an online application and meet a few simple requirements.
Fast approval time
No more sitting around waiting to get approved for a loan. The MoneyLion Credit Builder loan offers approval as quick as the same day.
Monitor and track your credit
Keeping an eye on your credit is important, especially while you’re working to help establish or build your credit score. You’ll get access to 24/7 credit monitoring and personalized insight into your credit with a Credit Builder Plus membership.
Get started today to get access to all the perks MoneyLion has to offer!
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Disclosures
This material is for informational purposes only and should not be construed as financial, legal, or tax advice. You should consult your own financial, legal, and tax advisors before engaging in any transaction. Information, including hypothetical projections of finances, may not take into account taxes, commissions, or other factors which may significantly affect potential outcomes. This material should not be considered an offer or recommendation to buy or sell a security. While information and sources are believed to be accurate, MoneyLion does not guarantee the accuracy or completeness of any information or source provided herein and is under no obligation to update this information. For more information about MoneyLion, please visit https://www.moneylion.com/terms-and-conditions/.
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 that has no impact to your credit score. Credit scores are independently determined by credit bureaus. Data was sourced from credit score data from over 147,500 Credit Builder Plus members with an active loan between January 1, 2020, and March 15, 2023. Credit score improvement is not guaranteed. Credit scores are independently determined by credit bureaus. MoneyLion is not a Credit Services Organization. Credit Builder Plus is an optional service offered by MoneyLion.
Credit score improvement is not guaranteed. 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.