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Payday Loans Milwaukee – Get Instacash, The Payday Loan Alternative

By Jacinta Sherris

You may be looking for a short term loan for a number of different reasons. Maybe an unexpected expense came up or you need an advance on your next paycheck. Millions of people need some extra cash every day.

Unfortunately, too many people fall prey to predatory payday loans which can cause considerable financial damage. Payday lenders can charge whatever interest rates they want, and it’s not unheard of people having to pay triple digits APRs along with additional fees.

The good news is that there are better alternatives to dangerous payday loans in Milwaukee. We’ll go over everything you’ll need to know about safe and fast lending options. 

How To Get a Cash Advance in Milwaukee, WI

Payday loans should never be your first choice for accessing fast cash. In fact, you should try to avoid them altogether. Look into borrowing from friends, family, or even local nonprofits or charities before you settle on a payday loan. In the meantime, check out safe and affordable cash advances in Milwaukee. 

Instacash

Max Advance Amount: $250

APR: 0%

Credit Affects: None

Instacash is a special feature from MoneyLion that offers safe and interest-free cash advances. 

That’s right – unlike payday lenders who can charge whatever they want, Instacash has 0% APR and is free to access via the MoneyLion App. 

There’s also no credit check required and Instacash won’t report you to credit bureaus. Making it an ideal cash advance that preserves your credit score.  

Instacash works by deducting the money you owe when your next paycheck comes in. You can connect Instacash to your RoarMoney account or external bank account and receive your funds for free in a couple of days. You can also pay a small fee to get your money deposited immediately. 

How to Qualify: 

  • You must be at least 18
  • Income or consistent deposits 
  • An active bank account that has been open for 60 days or more
  • An active bank account with a positive balance 

In-Person Lender

Max Payday Loan Amount: $1,500 or up to 35% of your gross monthly income

APR: Unlimited

Credit Affects: Payday lenders usually won’t pull your credit but they will report you to credit bureaus immediately if you are late. 

Payday lenders can offer loans in-person or online. Many people opt for them because these loans are easy to be approved for and deliver cash quickly. But there’s a catch. Payday loans come with exorbitantly high-interest rates and fees that make them difficult to pay off and easily trap people in debt.

The damage these loans can cause to your finances and credit score can last years. For these reasons, payday loans are not recommended. You can read more about payday loans in Milwaukee, WI here

If you do decide to borrow money from a payday lender, make sure to read the fine print and understand exactly what you are signing up for. The last thing you want is unexpected fees making it harder to pay back what you owe.

How to Qualify: 

  • You must be 18
  • American citizen or permanent resident
  • Steady income or deposits 
  • Information such as name, date of birth, Social Security number, and a valid ID
  • Bank account information

Online Loan Options in Milwaukee

MoneyLion’s Instacash is the recommended option for a fast, safe, and affordable cash advance. There are also other ways you can access a safe loan. Take a look at MoneyLion’s option for same-day loans in Milwaukee. 

Credit Builder Loan

Loan Amount: You could qualify for up to $1,000

Credit Affects: The average Credit Builder Loan user can boost their credit score by 60 points in 60 days! 

MoneyLion offers a Credit Builder Loan as a safe alternative to payday loans. You could receive up to $1,000 with a portion of your funds depositing right away. The other portion deposits into an interest-earning Credit Reserve account you can access once you’ve been approved. 

MoneyLion’s Credit Builder Loan is designed to get you cash and build your credit score. It comes with a competitively low-APR that makes it easy to stay on top of payments. Plus, MoneyLion also provides tons of resources to help you budget and pay off your loan

How to Qualify:

  • You must be 18 
  • American citizen or permanent resident
  • Personal information such as your name, address, social security number, etc.
  • A bank account or prepaid card to make payments
  • NO credit checks and you don’t even need credit history to qualify 

Comparing Your Cash Advance Loan Options in Milwaukee

We’ve looked into different lending options so you don’t have to. Here’s what you can expect from different cash advance options in Milwaukee. 

InstacashCredit Builder LoanIn-Person Payday Lender
How Much Can You Borrow?$250$1,000$1,500 or up to 35% of your gross monthly income 
Fees & InterestFree
0% APR
Competitive APR, $19.99/month feeUnlimited APRs
Impacts Your Credit?NoYes, it builds your credit score. Will hurt your score if you miss a payment – but won’t ever improve your score
AvailabilityOnline & MobileOnline & MobileOnline & Mobile
Wait TimeInstantly*InstantlyUsually the next business day
Next StepsSign UpSign Up

Find better alternatives to predatory payday loans in Milwaukee

Payday loans are dangerous lending options that should be avoided at all costs. Even though they may seem easy and accessible at first, the long-run consequences can be severe and cause considerable damages to your finances. Your credit score could be hurt and you could fall into a cycle of debt. Try other options for fast and easy cash, such as MoneyLion. 

MoneyLion is designed to be a safe alternative to payday loans and a comprehensive financial tool. You can access lending options, investment accounts, and even an online bank account that lets you get paid up to 2 days early. There are also weekly spending reports to help you keep your financial goals on track. 

Learn more about MoneyLion and the ways you can use it to boost your financial health!

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Get cash fast, pay no interest

Enjoy Instacash advances up to $250. No credit check, no monthly fee, no interest. Just cash.

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