What are apps like MoneyLion?

Alternative Apps
1

I’ve been using MoneyLion for personal finance management, but I’m exploring alternatives that provide similar services or features like credit building, money management, and small cash advances. Can anyone recommend reliable apps similar to MoneyLion? Your help would be greatly appreciated.

2

  1. Albert

    • Homepage Link: https://albert.com
    • Pros & Cons:
      • Pros: Fee-free cash advances, financial advice from real advisors, user-friendly interface, automatic savings feature.
      • Cons: Access to premium features requires a subscription (called “Albert Genius” starting at $4/month), some users report delays in cash advances.
    • Features: Smart savings, instant cash advances of up to $250, personalized budgeting, ability to consult with financial experts.
    • User Reviews: Customers praise Albert for convenience, especially its instant cash component and seamless savings options. However, there are occasional complaints about customer service response time.
    • Verdict: Albert is an excellent option if you’re looking for a robust, easy-to-navigate app for savings and cash advances. The premium subscription is worth it if you want financial consulting and customized assistance.

  2. Chime

    • Homepage Link: https://www.chime.com
    • Pros & Cons:
      • Pros: No hidden fees, free overdraft protection (“SpotMe”) up to $200, builds credit through its secured credit card, early direct deposit.
      • Cons: Must set up direct deposit to fully unlock features like SpotMe, lacks comprehensive financial management tools.
    • Features: Free overdraft up to $200, fee-free banking, Chime Credit Builder Card, notifications for transactions and balances, savings account with APY.
    • User Reviews: Users appreciate the simplicity and transparency of Chime but wish its in-app tools were more robust for budgeting and goal-setting.
    • Verdict: Chime is best for those who want a reliable banking alternative with no fees and an easy way to build up their credit score.

  3. Dave

    • Homepage Link: https://www.dave.com
    • Pros & Cons:
      • Pros: No interest on cash advances, helps predict potential overdrafts, finds side gigs, no minimum balance requirement.
      • Cons: Monthly fee of $1, cash advances are limited initially for new users, lacks investment features.
    • Features: Up to $500 in interest-free cash advances, budget tracker, early paycheck access, gig-finding tool.
    • User Reviews: Dave consistently garners positive comments for its overdraft avoidance tools and no-fee advances. Some dislike the $1 monthly fee for what could seem like basic features.
    • Verdict: A solid pick for users concerned with overdraft fees or needing a small loan before their paycheck comes in.

  4. Cleo

    • Homepage Link: https://web.meetcleo.com
    • Pros & Cons:
      • Pros: AI-powered financial insights, fun and relatable chat-based interface, $100 interest-free “salary advance.”
      • Cons: Limited functionality for credit building, need premium subscription for advanced services (“Cleo+” at $5.99/month).
    • Features: Budgeting tools, cash back offers, salary advances, educational memes and financial tips.
    • User Reviews: People love Cleo’s humor and approachability when it comes to discussing money, but some feel the app can be gimmicky at times.
    • Verdict: Cleo is perfect for budget beginners or anyone who prefers a light-hearted, conversational style in their financial planning app.

  5. Brigit

    • Homepage Link: https://www.hellobrigit.com
    • Pros & Cons:
      • Pros: Up to $250 in no-interest cash advances, financial insights & spending tracker, overdraft predictions, credit builder.
      • Cons: Monthly subscription starts at $9.99, not ideal for users looking for extensive investment features.
    • Features: Early paycheck advances, credit monitoring, personalized tips, account alerts for overdraft protection.
    • User Reviews: Feedback highlights how Brigit eliminates overdrafts for its users, but the app falls short when compared to cheaper alternatives.
    • Verdict: Brigit is a top option if overdraft fees are a recurring issue for you and you’re okay with paying for robust budgeting and insights.

  6. Earnin

    • Homepage Link: https://www.earnin.com
    • Pros & Cons:
      • Pros: Access to up to $100 daily (or $500 per pay period), tipping-based model instead of fees, no credit checks.
      • Cons: Requires connecting your payroll and bank account, doesn’t offer broader financial tools like investing or credit building.
    • Features: Fast access to earned wages, health aid service for medical bills, automatic overdraft protection feature called Balance Shield.
    • User Reviews: Earnin is frequently praised for its transparency and simplicity, but some criticize the conduct of its tipping-based system.
    • Verdict: A good choice if you need no-strings access to your paycheck as you earn, provided you don’t need advanced financial planning tools.

  7. SoFi

    • Homepage Link: https://www.sofi.com
    • Pros & Cons:
      • Pros: Full personal finance ecosystem—banking, credit, investing, and loans; no account fees; members get complimentary financial planning.
      • Cons: The app may seem overwhelming for those just wanting simple cash advances or budgeting.
    • Features: High-yield checking and savings, personalized financial advice, credit score tracking, access to loans and investing.
    • User Reviews: SoFi is lauded for being polished and feature-rich, but new users may feel it’s overkill for everyday budgeting needs.
    • Verdict: Ideal for anyone who wants an all-in-one financial app, particularly for those considering combining banking, investments, and loans.

  8. Varo

    • Homepage Link: https://www.varomoney.com
    • Pros & Cons:
      • Pros: Fee-free banking, quick cash advances, optional savings account with APY.
      • Cons: Limited to people with direct deposit setup, no credit-building tool yet.
    • Features: Early paycheck disbursement, auto-save options, no-fee banking experience, cash advances up to $250.
    • User Reviews: Many people love Varo’s commitment to no hidden fees, while advanced savings users find its APY competitive.
    • Verdict: Varo is a great fee-free option for managing day-to-day finances and accessing cash advances between paychecks.

  9. Tally

    • Homepage Link: https://www.meettally.com
    • Pros & Cons:
      • Pros: Optimizes credit card debt payments, robust financial insights for reducing interest payments.
      • Cons: Doesn’t offer cash advances, limited applicability for people with low or no credit card debt.
    • Features: Credit card manager, personalized strategies to pay off debt faster, suggestions for interest optimization.
    • User Reviews: Users admire Tally’s effectiveness in simplifying debt payoff but hesitate since it doesn’t address other banking features.
    • Verdict: Tally is perfect for people tackling credit card debt and looking to save months (or years) of interest payments.

  10. Honeydue

    • Homepage Link: https://www.honeydue.com
    • Pros & Cons:
      • Pros: Focuses on managing finances with a partner, supports joint budgeting, automatic bill splitting.
      • Cons: Not designed for individual users, lacks in-depth credit-building assistance or cash advances.
    • Features: Couple-centric budgeting, bill reminders, linked account reports, chat feature to discuss expenses.
    • User Reviews: Many couples find Honeydue a lifesaver for transparent financial collaboration, but singles find it less useful.
    • Verdict: Best suited for couples who want to improve communication around finances, though it doesn’t serve as a general-purpose solution.

General Takeaway:

Each app I’ve listed has its unique focus and audience. If your primary goal is cash advances and no-interest loans, you might prefer Earnin, Albert, or Brigit. For full-service personal finance management, SoFi or Chime are excellent options. Lastly, if you love engaging, conversational tools, go for Cleo.