If you’re in need of quick cash but worried about your credit score, you’re not alone. Many people face financial emergencies but are held back by bad credit, no credit history, or concerns about hard credit inquiries. Fortunately, there are loan apps designed to lend money without performing a hard pull on your credit report. These apps can provide instant loans or cash advances, often same day, with minimal requirements. In this article, we’ll dive into five such loan apps that lend up to $500 and one that offers up to $1,000—all without impacting your credit score. Whether you have bad credit, late payments, or collections, these services might help you get the funds you need.
The following breakdown will help you understand the pros, cons, and unique features of each loan app so you can make an informed decision.
1. Supercash: Simple $200 Advances Without Credit Checks
Supercash is a hybrid cash advance app that offers up to $200 without a credit check. What makes Supercash different is that it combines a cash advance service with additional features like exclusive hotel discounts, paid surveys, online games for cash, and even insurance options. While these extras might seem out of place for a cash advance app, they add some value if you’re interested in those features.
How It Works:
- Sign up for the Super Debit Mastercard and link an existing bank account.
- Receive a physical Super Debit Mastercard in the mail and an instant virtual card.
- Join Super Plus, a subscription service costing $15/month, which is required to apply for the cash advance.
- Apply for the $200 advance; if approved, funds arrive in your Supercash account within 3 business days.
- Optional instant deposit is available for a fee ranging from $3.99 to $6.99 depending on your loan amount.
Pros:
- No credit check required.
- No hidden fees or interest.
- No income requirements to qualify.
Cons:
- Must pay $15 monthly for Super Plus subscription to apply.
- Three-day wait for funds if you don’t want to pay for instant transfer.
Supercash is a straightforward option if you want a small loan without credit checks, but the subscription fee and wait time might deter some users.
2. GoDay is an online lender in Canada offering both payday loans up to $1,500
Installment loans reaching $15,000. Their application process is entirely online, eliminating the need for paperwork or in-person visits. First-time payday loan borrowers may have an initial limit of $500, which can increase with responsible repayment.
How It Works:
- Apply online through the GoDay website or potentially their mobile app (if available).
- Provide your personal, employment, and banking information.
- Funding for payday loans can be as fast as 2 minutes via e-Transfer or direct deposit.
- Repayment for payday loans is typically due on your next payday. Installment loan terms vary.
Pros:
- Fast online application process.
- Quick funding, potentially within minutes.
- Accepts various income types, including some government benefits and pensions.
- Offers both payday and installment loan options.
Cons:
- Interest rates for payday loans are very high, making it a costly borrowing option.
- Short repayment windows for payday loans can lead to debt cycles if not managed carefully.
- First-time payday loan borrowers may have a lower borrowing limit.
3. Credit Genie: $100 Cash Advance with Red Flags
Credit Genie offers a $100 cash advance and claims to help you monitor spending habits. However, several warning signs suggest caution:
- The website is a single page with minimal information.
- Trustpilot reviews average 1.6 out of 5 stars with many complaints about unauthorized charges and poor customer service.
- A $4.99 monthly fee is charged simply to maintain a bank connection, regardless of loan approval.
Given these red flags, it’s advisable to steer clear of Credit Genie as a borrowing option. Many users report unauthorized charges and difficulty canceling subscriptions, which is a serious concern when dealing with financial apps.
4. Beam Everdraft: Borrow Up to $1,000 with No Credit Check
Beam’s Everdraft feature allows you to borrow between $20 and $1,000 with no credit check, no interest, and no traditional due date. Instead, repayments are automatically debited from your linked bank account when funds are available, which means the loan gets repaid gradually without a fixed deadline.
To access this service, you must subscribe to one of Beam’s plans:
- $2.47/month for up to a $50 advance.
- $12.97/month for up to a $1,000 advance.
Once subscribed, you link your bank account, and the advance amount is instantly added to your Beam account balance.
Pros:
- High loan amounts up to $1,000.
- No credit check or interest charges.
- Automatic repayment based on account balance.
Cons:
- Monthly subscription fee required.
- Repayment system may be confusing or unpredictable.
Beam is a good option if you want a larger cash advance without credit checks and can manage automatic repayments, but the subscription fee adds to your costs.
5. MoneyLion InstaCash: Up to $1,000 with No Credit Check and No Interest
MoneyLion offers a well-rounded financial app that includes banking features (RoarMoney), credit building tools, and cash advances through InstaCash. You can borrow up to $500 with no credit check, no interest, and no fees. By subscribing to Credit Builder Plus for $19.99/month, you can increase your InstaCash limit to $700. Furthermore, setting up direct deposit with a MoneyLion RoarMoney account can unlock up to $1,000 in InstaCash.
How to Qualify:
- Link an external bank account that receives direct deposits.
- Optionally subscribe to Credit Builder Plus for higher limits.
- Use MoneyLion’s bank account for maximum borrowing power.
Pros:
- Cash advances up to $1,000.
- No credit check, no interest, and no monthly fees on basic InstaCash.
- Additional financial tools like Credit Builder and RoarMoney banking.
Cons:
- $19.99/month subscription fee for Credit Builder Plus to increase limits.
- Some downsides related to app features and fees covered in detail elsewhere.
MoneyLion stands out as the most versatile option on this list, offering not just cash advances but also credit building and banking features, making it a great choice for those looking to improve their financial health alongside borrowing.