Direct Link to offer (this is a stripped down affiliate link which isn’t affiliated with anyone; support your favorite blogger by using their link; we don’t use bank affiliate links on DoC)
Chase is offering a brand new signup bonus on the Chase Freedom Unlimited card:
Signup for the Chase Freedom Unlimited card and Chase will match all cash back earned after your first 12 months of spending.
The card also offers 0% intro APR for 15 months from account opening on purchases and balance transfers. After the intro period, a variable APR of 20.49% – 29.24%. Balance transfer fee applies.
The Fine Print
This product is available to you if you do not have this card and have not received a new cardmember bonus for this card in the past 24 months.(Editor’s note: If you have the OG Freedom or Freedom Flex cards you should still be eligible for the Unlimited card and for this signup offer.)
Only Cash Back rewards earned by making purchases, including through other bonus offers, are eligible for this bonus. Statement credits and Cash Back rewards moved into your account through the Ultimate Rewards Combine Points feature or any other transfer are ineligible.
(“Purchases” do not include balance transfers, cash advances, travelers checks, foreign currency, money orders, wire transfers or similar cash-like transactions, lottery tickets, casino gaming chips, race track wagers or similar betting transactions, any checks that access your account, interest, unauthorized or fraudulent charges, and fees of any kind, including an annual fee, if applicable.)
Cash Back rewards must be earned by the end of your 12th monthly billing cycle to be included in the bonus. Please note that in some cases Cash Back rewards will not be earned until a billing cycle that occurs after the one in which a purchase is made, in particular when purchases are made near the end of a billing cycle. As a result, Cash Back rewards earned on some purchases made during your first 12 monthly billing cycles may not be eligible to be included in the bonus.
Please allow 6 to 8 weeks from the end of your 12th monthly billing cycle for bonus Cash Back rewards to post to your account.
To receive your bonus, your account must be open and not in default at the time of fulfillment. See your Rewards Program Agreement for more details about earning Cash Back rewards.
5/24 applies to the Freedom Unlimited card
Card Details
No annual fee
Card earns the following points rates:
5% on Travel purchased through Chase Ultimate Rewards (10% for the first year with this offer)
5% on Lyft through March 2025 (10% for the first year with this offer)
3% on Dining (6% for the first year with this offer)
3% on Drugstore (6% for the first year with this offer)
1.5% unlimited cash back (3% for the first year with this offer)
Our Verdict
This is an amazing offer for someone who has a lot of spend, especially for someone who spends a lot on Dining and Drugstores since you’ll earn unlimited 6x on Dining/Drugstores and unlimited 3x everywhere. It would be sweet if this offer becomes available via referrer link which would let you help a friend get a bonus along the way.
Unclear whether shopping portal earnings or referrer earnings will get doubled at year-end. The fine print is clear that cash back earned through bonus offers will be doubled, but cashback earned through statement credits will not be doubled. Based on the verbiage I believe portal and referral cashbacck would be doubled, but we’ll have to find out more. (I’m not sure how it ended up working 5 years ago when this offer was around.)
Note, someone with limited annual spend will do better signing up for the standard offer which gives $200 back after $500 spend + 5% cashback on Grocery/Gas during the first year, up to $12,000.
Check out these Things To Know About Chase Credit Cards before applying.
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Editorial Disclosure:Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.
Snapshot: You can secure a small credit limit with a deposit ($200 minimum) and don’t need great credit to get approved for this card. You also earn 1.5% cash back on your purchases without paying an annual fee, making it a good option for those looking to rebuild their credit.
Basic Features
Ongoing APR: reg_apr,reg_apr_type depending on creditworthiness
Annual fee: annual_fees
Credit needed: Scores in the credit_score_needed range
Additional Details
1.5% cash back on every purchase
Possible upgrade to a typical unsecured Quicksilver card
Possible credit line increase after 6 months
Minimum deposit of $200 required
Fast review process – find out if you’ve been approved within minutes
Ready to learn how to apply?
Full Review of Capital One Quicksilver Secured Cash Rewards Credit Card
What You’ll Like About this Card
The Drawbacks
Is It Worth It?
FAQ
Full Review of Capital One Quicksilver Secured Cash Rewards Credit Card
As far as secured credit cards go, there are so many reasons to love this one. When evaluating secured credit cards, most of the time you want to consider the following features:
Does it have an upgrade path? (Can I use a history of on-time payments with this card to qualify for another credit card later on?)
Does it have an annual fee?
Does it report to all three credit bureaus?
As far as the Capital One Quicksilver Secured Cash Rewards Credit Card goes, it combines the best features of a secured credit card – upgrade path, no annual fee, credit reporting for building credit – with the added benefit of 1.5% cash back on all purchases. cash back rewards that you can redeem as a statement credit, apply to recent purchases, gift cards, or in other ways (Capital One has a lot of flexibility about how you can redeem your cash back).
Provided you pay off your statement balance every month to avoid interest, you can earn a decent amount of extra cash throughout the year. And with a consistent cash back rate on all purchases, you don’t have to game the system to maximize your rewards.
credit bureaus.
If you’re looking for a cash back rewards card, but are worried about being approved for a typical “unsecured” card, no worries – a secured card is the right path for you. You only need fair credit to possibly be approved for this card, which makes it good for building or rebuilding your credit.
Ready to start earning cash back on your purchases?
The Drawbacks
You Have to Pay a Deposit
To successfully apply for and open this card, you’ll have to come up with a deposit that secures your credit limit. That means you need to have a little cash set aside to start building credit with this card. Luckily, deposits start as low as $200.
credit score and your ability to make payments. Your income may be a factor in determining your credit limit.
How Soon Can I Increase My Credit Limit After Being Approved for a Capital One Quicksilver Secured Cash Rewards Credit Card?
You typically have to demonstrate strong account management and pay your bills on time for at least 6 months before you can request a credit increase or receive offers for an upgraded card.
How Good is a Capital One Quicksilver Secured Cash Rewards Credit Card for Building Credit?
This is an excellent card for building credit (it was designed for that purpose). However, you do have to keep up your end by using your card responsibly and making on-time payments every billing cycle. Even though this is a secured credit card, it’s still possible to rack up debt and hurt your credit if you don’t pay your statements.
Ready to start earning cash back on your purchases?
Advertiser Disclosure: Credit.com has partnered with CardRatings for our coverage of credit card products. Credit.com and CardRatings may receive a commission from card issuers.
Advertiser Disclosure: Credit.com has partnered with CardRatings for our coverage of credit card products. Credit.com and CardRatings may receive a commission from card issuers.
Editorial Disclosure:Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.
Snapshot: No annual fee and fantastic cash back opportunities as high as 10% on select purchases. Great rewards card option if you frequently spend on dining, travel or groceries.
Basic Features
Ongoing APR: reg_apr,reg_apr_type depending on creditworthiness
Annual fee: annual_fees
Credit needed: Scores in the credit_score_needed range
Additional Details
10% cash back on Uber and Uber Eats purchases
8% cash back on purchases through Capital One Entertainment
5% cash back on select travel reservations booked with Capital One Travel
3% cash back at approved grocery stores
1% cash back on everything else
Full Review of Capital One SavorOne Cash Rewards Card
What You’ll like About It
The Drawbacks
Is It Worth It?
FAQ
Full Review of Capital One SavorOne Cash Rewards Card
In general, this is a great card if you have experience with cash back rewards cards and you like to hunt down a good deal. Maximizing your rewards will require some attention to detail – for example, booking travel reservations through Capital One Travel to earn that 5% cash back or knowing what grocery stores qualify for the rewards points.
But, this card does offer 1% cash back on “everything else,” so even if you’re not paying attention, you’re still earning something. Heads up, this card does have a relatively high APR of reg_apr,reg_apr_type. You’ll need to pay off your card consistently to avoid that interest rate and profit off those rewards.
Like what you’re reading? Learn more about applying for the Capital One SavorOne Cash Rewards Card
What You’ll Like About It
Easy Cash Back for Food Purchases
If you’re the kind of person who loves eating out (or ordering in), this is the card for you. The Capital One SavorOne Cash Rewards card offers a variety of different rewards categories for entertainment, travel and general purchases, but your best opportunity for earning cash back rewards is with food purchases. This card offers 10% cash back on Uber Eats purchases for those splurge nights when you don’t want to leave the house.
Even if you’re not eating out, this card allows you to earn 3% cash back on grocery store purchases. (Excluding some stores like Walmart and Target. creditworthiness, income and existing debt.
How Soon Can I Increase My Credit Limit After Being Approved for a Capital One SavorOne Cash Rewards Card?
Typically, most credit card issuers require at least 6 months of on-time payments before considering you for a credit limit increase. You can improve your chances of getting an increase by paying your bills on time and managing your credit well.
How Good is a Capital One SavorOne Cash Rewards Card for Building Credit?
Like most credit cards, Capital One will report on-time payments to the credit bureaus, which could help you build up good credit over time. However, if you have a low credit score and are looking to build your credit back up with on-time credit card payments, this may not be the best option. If you’re concerned about whether or not your credit is strong enough to be approved for this card, it may be better to start out with a secured credit card that will help you upgrade to another “unsecured” credit card.
Learn more about how to sign up for a Capital One SavorOne Cash Rewards Card
Advertiser Disclosure: Credit.com has partnered with CardRatings for our coverage of credit card products. Credit.com and CardRatings may receive a commission from card issuers.
Advertiser Disclosure: Credit.com has partnered with CardRatings for our coverage of credit card products. Credit.com and CardRatings may receive a commission from card issuers.
Editorial Disclosure:Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.
Snapshot: The Bank of America Travel Rewards® Credit Card is ideal for frequent travelers who want to earn travel rewards on their everyday purchases. With this credit card, you can earn points on purchases made everywhere. You can then redeem these points for travel or cash back rewards.
Basic Features
An ongoing APR between reg_apr,reg_apr_type
A annual_fees annual fee
A intro_apr_rate,intro_apr_duration
Perfect for people with credit_score_needed credit
*See Rates and Fees
Additional Details
1.5 points back per $1 spent on any purchase
Earn 25,000 online bonus points if you spend at least $1,000 within the first 90 days of opening your account
intro_apr_rate,intro_apr_duration and balance_transfer_intro_apr,balance_transfer_intro_duration make this a great card for managing large purchases
Strong credit required for approval
Consistent, simple points rewards system
No annual fee
*See Rates and Fees
Ready to Learn How to Apply?
Table of Contents
Full Review of the Bank of America Travel Rewards® Credit Card
What You’ll Like About It
The Drawbacks
Is It Worth It?
FAQ
Full Review of the Bank of America Travel Rewards® Credit Card
Anticipating an expensive trip to your cousin’s destination wedding in Aruba? This card may help with that. The Bank of America Travel Rewards® Credit Card offers a nice combination of intro rates and bonuses that can help you spread out payments on a large purchase (like flights or resorts) over a longer time period.
And once the introductory period is over, a annual_fees annual fee and simple points system are both good reasons to keep using the card on an ongoing basis.
There’s an extra bonus, too: if you’re a Preferred Rewards Member, you could potentially increase your points-earning capability to 25% – 75% more on purchases.
What You’ll Like About It
Great for Managing Big Purchases (During the Intro Period)
Like we said, the Bank of America Travel Rewards® Credit Card offers a variety of benefits, such as a annual_fees annual fee and intro_apr_rate,intro_apr_duration. Additionally if you choose to transfer a balance from another credit card to your Bank of America Travel Rewards™ Credit Card, you can take advantage of balance_transfer_intro_apr,balance_transfer_intro_duration.
Is the Bank of America Travel Rewards® Credit Card Right for Your Upcoming Trip? Find Out!
Good Intro Bonus
New users earn up to 25,000 bonus points for spending at least $1,000 on qualifying purchases in the first 90 days. That’s an added $250 you can pocket towards your upcoming travel expenses.
*See Rates and Fees
The Drawbacks
Strong Credit Required
If you’re concerned about the strength of your credit score, this may not be the card for you. The minimum required credit range for this card is the “Good category” (according to FICO®, that’s at least a 670).
Is It Worth It?
If you qualify, a Bank of America Travel Rewards® Credit Card can be a great option. It offers a simple rewards system that you can redeem for travel and dining credits or cash back rewards.
Frequently Asked Questions
What is the benefit of using the Bank of America Travel Center?
The main benefit of using the Bank of America Travel Center is that it provides a convenient platform for booking various travel-related services such as flights, hotels, rental cars, cruises, and vacation packages. Bank of America often negotiates special deals and offers with travel suppliers for its customers. This can include discounts, cashback rewards, or bonus points for using the Travel Center to book travel.
Want to Access the Bank of America Travel Center? Learn More About Applying for the Bank of America Travel Rewards® Credit Card
Is the Bank of America Travel Rewards® Credit Card Hard to Get?
It will require strong credit in order to be approved – if you have a poor credit score and profile, you may want to consider a different option (and avoid the unnecessary hard inquiry on your credit).
Does the Bank of America Travel Rewards® Credit Card Have Foreign Transaction Fees
As of writing this article, the card doesn’t have any foreign transaction fees – making it another great choice for an upcoming trip.
*See Rates and Fees
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Cash back benefits are no longer just for credit card users. Learn how to use Discover® Cashback Debit to get the most out of it.
September 29, 2023
Making money for spending money? It might sound too good to be true, but it’s a reality for some debit card holders. Debit cards like the Discover Cashback Debit card now offer a wide range of rewards and benefits to checking account holders, who are enjoying extra money in their pockets, added convenience, and more peace of mind thanks to all the advantages.
Lately, debit card benefits have started to include overdraft protection, receiving your paycheck early,1 online privacy protection, and more. But often the biggest benefit for debit card holders is the cash back they earn on purchases made with their cards.
What does ‘cash back’ mean?
As a debit card benefit, “cash back” refers to money that a bank adds to your checking account in exchange for using the debit card associated with that account. The amount of money you receive thanks to a debit card’s cash back benefit can depend on several factors, such as the financial institution, the type of card, and the type of transaction. For example, some financial institutions will reward customers with a percentage of the amount they spend with their card, while others may give customers a predetermined dollar amount for using the card at particular stores or restaurants. Some financial institutions restrict rewards to certain categories of purchases, such as gas or travel. Each financial institution and card has its own rules for what it considers a qualifying purchase, so make sure you understand the terms.
How does cash back work on debit cards?
Cash back rewards for qualifying purchases made with your debit card will typically appear in your account after the close of each statement period. Depending on your bank, the money could be added into a dedicated section of your online banking portal for you to redeem, or it could be directly deposited into your checking account. Make sure you understand how cash back works for your particular debit card so that you know when you’ll see the funds, how much you’ll receive, if there are any limits, and what types of transactions qualify.
How does Discover cash back work?
The Discover Cashback Bonus for the Discover Cashback Debit card works by providing 1% in cash rewards to customers on qualifying purchases. Discover Cashback Debit card users can earn 1% cash back on up to $3,000 in debit card purchases each month.2 That’s potentially $30 per month—or $360 per year—back in your pocket!
Earn cash back with your debit card
Discover Bank, Member FDIC
When does cash back show up on Discover Cashback Debit Accounts?
Discover Cashback Bonus rewards will post to the Rewards Detail section of your account summary at the end of each month. You can view your Cashback Bonus amount in either the Discover Mobile App or the Online Account Center.
Curious about the best way to redeem Discover Cashback bonus rewards? Well, you’ve got options. Through your account, you can manually transfer your Cashback Bonus into your Discover checking account, Online Savings Account, or Money Market Account. Discover customers are also able to enroll in Auto Redemption, which means Discover will automatically deposit your Cashback Bonus into your Discover Online Savings Account each month. Customers can also manually transfer their bonus to any Discover Credit Card Cashback Bonus® Account.
Ready to open a Discover Cashback Debit Account?
If you’re ready to get the most out of your debit purchases, including 1% in cash rewards2, then it’s time to get Discover Cashback Debit. Not only will you enjoy earning money on your everyday purchases, but you’ll also access amazing benefits like fraud protection, early pay1, and a network of over 60,000 fee-free ATMs.
Ready to get started? Open your Discover Cashback Debit account today.
Articles may contain information from third parties. The inclusion of such information does not imply an affiliation with the bank or bank sponsorship, endorsement, or verification regarding the third party or information.
1 Early Pay is automatically available to checking, savings (excluding IRA savings), and money market customers who receive qualifying ACH direct deposits. At our discretion, and dependent on the timing of our receipt of the direct deposit instructions, we may make funds from these qualifying direct deposits available to you up to 2 days early. See our Deposit Account Agreement for more information.
2 ATM transactions, the purchase of money orders or other cash equivalents, cash over portions of point-of-sale transactions, Peer-to-Peer (P2P) payments (such as Apple Pay Cash), online sports betting and internet gambling transactions, and loan payments or account funding made with your debit card are not eligible for cash back rewards. In addition, purchases made using third-party payment accounts (services such as Venmo® and PayPal®, who also provide P2P payments) may not be eligible for cash back rewards. Apple Pay® is a trademark of Apple Inc. Venmo and PayPal are registered trademarks of PayPal, Inc. Samsung Pay is a registered trademark of Samsung Electronics Co., Ltd. Google, Google Pay, and Android are trademarks of Google LLC.
You’ve probably used Venmo a lot this past year, but is Venmo safe? And if so, what are the advantages of Venmo over other online payment providers? Read answers to these questions and more in our helpful guide below.
In This Piece
What Is Venmo?
Venmo is a type of peer-to-peer—or person-to-person—payment app. Its parent company is money-moving giant PayPal, which had over 377 million registered users in the last quarter of 2020. Think of Venmo like “PayPal lite”—you can receive cash and send money to people, but you can’t send invoices or do anything complex.
PayPal launched Venmo for one reason—to compete in the P2P payment marketplace. Not everyone needs PayPal’s full suite of services, but they appreciate a convenient way to split the bill. You can pay for part of a dinner or your share of the shopping with Venmo, and some online retailers also accept Venmo as a form of payment.
Venmo began offering a cash back rewards debit card—the Venmo Debit Card—in 2018. In late 2020, it launched the Venmo Credit Card. Like the Venmo Debit Card, the Venmo Credit card offers cash back—up to 3% on your “top spend” category.
How Does Venmo Work?
Venmo works a little like PayPal. To use the services you simply:
I just watched a documentary on the dark web, and I will never feel safe using my credit card again!
Luckily I don’t have to worry about that. I have ExtraCredit, so I get $1,000,000 ID protection and dark web scans.
I need that peace of mind in my life. What else do you get with ExtraCredit?
It’s basically everything my credit needs. I get 28 FICO® scores, rent and utility reporting, cash rewards and even a discount to one of the leaders in credit repair.
It’s settled; I’m getting ExtraCredit tonight. Totally unrelated, but any suggestions for my new fear of sharks? I watched that documentary too.
…we live in Oklahoma.
Download and install the app on your phone
Link the app to your bank account, debit card, or credit card
Begin sending payments to friends, family members, and select online retailers
Venmo has an initial $299.99 weekly sending and receiving limit. To lift that limit, you need to provide identification documents. Once your ID is confirmed, you’ll have a $4,999.99 weekly limit.
If you want a Venmo Debit Card, you’ll need to apply online. To get a Venmo Credit Card, you need to be over 18 and a U.S. resident—and you also need to have had your Venmo account for at least 30 days.
Is Venmo Safe? What Are the Risks of Using Venmo?
Venmo is generally very safe—the company uses bank-level encryption to keep your data safe. You can add a PIN number and enable multi-factor authentication (MFA) to make your account even more secure. A strong password combined with a PIN and MFA greatly reduces the chance of hacking.
Venmo’s default profile and payment settings are public. Thankfully, you can change your privacy settings to keep your payment settings under wraps. Venmo’s three privacy levels are:
Anyone can find you and see your transactions.
Only you and the person you send payment to will see a transaction.
Friends only. Your Venmo friends can see you and can also see your transactions.
You can set your privacy settings to default to any of these three levels, or you can set levels on a transaction-by-transaction basis. You can also hide your past transactions.
Is Venmo Free?
Depending on how you use Venmo, it can be 100% free. Believe it or not, if you’re strictly using Venmo to transfer payments from one party to another and you’re not using a credit card, you may be able to use it for free.
However, there are some instances where Venmo does charge a fee. For example, if you’re using Venmo as part of your business, you’ll likely need to pay merchant fees. Here’s a look at the various fees Venmo charges account holders.
Instant Transfer Fees
You can transfer money from your Venmo account to your bank account at any time. This process can take 1-2 days to complete. If you need the money faster, you can opt for the instant transfer option, but it will cost you. Venmo charges an instant transfer fee of 1.75%, with a minimum fee of $0.25 and a maximum fee of $25.
Processing Fees
If you choose to make a Venmo payment using your bank account or debit card, you’ll incur no additional fee. If, on the other hand, you use a credit card to make this payment, you must pay processing fees. Venmo’s processing fees are 3%.
Check Deposit Fees
Venmo allows account holders to deposit checks directly into their Venmo account. However, it charges a fee for this service. The check deposit fee is 1% or a $5 minimum when depositing government-issued or payroll checks and 5% or a $5 minimum when depositing all other checks.
Merchant Fees
If you’re using Venmo to accept payments for a business you operate, you must pay merchant fees. Venmo charges business owners a 1.9% merchant fee plus an additional $0.10 per transaction.
What Is Venmo Debit Card and How Does It Work?
If you use your Venmo account quite often or have your payroll or government check deposited into your Venmo account, you might want to consider applying for a debit card with Venmo. This card is similar to any other debit card from a financial institution. It lets you spend the money in your Venmo account anywhere that accepts debit cards.
You can track your deposits and payments directly on the Venmo app, and you can also check the balance in your account. Since this is a debit card, it doesn’t have the same strict credit requirements you might run into when attempting to obtain a credit card. Obtaining this type of debit card can avoid the need to transfer funds from your Venmo account to your bank account.
There can be some fees associated with having a Venmo debit card. For instance, you incur a $2.50 fee when you withdraw funds from your Venmo account via an out-of-network ATM. There’s no fee for using an in-network MoneyPass ATM. A $3 fee applies for an over-the-counter cash withdrawal at a bank. Additionally, you can only withdraw up to $400 per day from your Venmo account.
Venmo and Taxes
If you’re only using Venmo to transfer funds to friends and family members, taxes won’t be an issue. If, on the other hand, you’re using Venmo to collect payments for your business, you may be responsible for paying taxes. If you earn over a certain amount during the year, you need to include any Venmo payments you received for your business on your taxes. Before starting any business, it’s important to understand what your tax responsibilities are.
Venmo Scams to Watch Out for
If you’re wondering “Is Venmo safe to use?” the answer is yes, it’s relatively safe to use. Venmo uses encryption security to protect your personal information from hackers. Its robust security features are in place to keep your money safe.
Even these robust security features can’t stop all scammers. But there are steps you can take to avoid this type of bank account fraud. It’s important to recognize these scams before scammers take advantage of you. Below is a look at the most common Venmo scams.
Fake Products for Sale
One of the most common Venmo scams involves online sales. The scammer pretends to be selling something online. However, once you make a payment, you never receive the product.
Once a Venmo payment is processed, you can’t reverse it and there’s no way to get your money back. This is why it’s so important to only submit payments to people and businesses you know and trust.
Pretending to Be from Venmo
Another common scam involves scammers pretending to be Venmo. If you receive an email or text message claiming to be from Venmo, don’t automatically assume it is. Some scammers send these messages to try to steal your personal information, such as your account number and password. Once they have this information, they can hack into your account and make payments without your permission.
Using Your Phone
There have been reports of strangers asking a person to borrow their phone. Instead, they actually open the Venmo account on your phone to send money to an account associated with them. Unfortunately, trying to do a good deed by letting someone borrow your phone could cost you hundreds or thousands of dollars.
Why Does Venmo Require Identify Verification?
If you open an account with Venmo, you’ll have to prove your identity. This isn’t just a Venmo requirement. According to the Consumer Identification Program under the U.S. Patriot Act, all financial institutions must verify the identities of all their customers.
This program helps prevent terrorists from sending and receiving money and helps to stop money laundering. It can also help reduce the risk of fraud on Venmo. However, even identity verification can’t prevent all forms of fraud. It’s important to always remain vigilant and report any suspicious activity to Venmo.
Staying Safe with Venmo
There are several things you can do to protect yourself when using Venmo.
Monitoring Your Account
Be sure to periodically check your Venmo account for unauthorized transactions. If you notice any, report it to Venmo immediately.
Set Up Venmo Notifications
Receiving notifications as soon as there’s suspicious activity on your Venmo account may help prevent a scammer from accessing your account. Always be sure to have your notifications on for Venmo.
Secure Your Account
There are multiple ways to secure your Venmo account if you lose your phone or allow someone to use it. First, turn on the PIN feature. This step requires you to enter a specific PIN number before you can even open your Venmo account. You should also set up the two-function authentication feature to make it even more difficult for someone to hack into your account.
Choose Private Setting
You may not realize it, but Venmo automatically makes all accounts public. While other users can’t see the specific details of your account, they can see how often you use Venmo. To keep your account safe, it’s recommended to switch your account to private so only your friends and family members can see your information.
Don’t Keep a High Balance
It’s recommended to avoid keeping a high balance in your Venmo account. This way, if your account is hacked, you’re not at risk of losing too much money. Instead, take steps to transfer your Venmo balance to your bank account as soon as possible.
Don’t Share Phone
Even if you’re using the passcode and two-factor authentication features, it’s recommended not to let a stranger use your phone. Only those you know and trust should have access to your phone.
Only Enter Venmo Through the App or Website
Don’t activate your Venmo account through a link you receive in an email or text message. This could be a phishing email designed to steal your Venmo account information, such as your account number and password. Instead, only access your Venmo account through the Venmo app or website.
Venmo Alternatives
Venmo isn’t alone in the payment marketplace. Like most other payment options, it has a long list of rivals. Let’s line up three formidable adversaries for comparison.
Tip: PayPal is another popular payment app. Check out our safety review for more information.
App Name
Venmo
Zelle
Cash App
Parent company
PayPal
Early Warning Services
Square
Need a bank account?
No
Yes—but you can still use and download the app if your bank doesn’t offer Zelle
No
Who can you pay?
Friends, family members and other people you trust
Friends, family members and other people you trust
Anyone, including contractors, utility companies and charities
Debit card available?
Yes
No
Yes
Can you hold a balance?
Yes
No—but Zelle is connected to your bank account by default
Yes
How much does it cost?
Free if you use a bank account, a debit card or your Venmo balance. If you use a credit card, Venmo charges a 3% fee. Instant outgoing bank transfers cost 1%, while standard bank transfers are free.
No fees to send or receive money. Your connected bank may charge fees, however.
Free if you use a bank account, a debit card or your Cash App balance. If you use a credit card, Cash App charges a 3% fee. Instant outgoing bank transfers cost 1.5%, while standard bank transfers are free.
Any limits?
You’ll have a $299.99 weekly peer-to-peer limit immediately after signup. If you confirm your identity, your weekly limit will go up to $4,999.99.
Limits depend on the financial institution. If your bank doesn’t offer Zelle, your weekly transaction limit will be $500.
You can send or receive up to $1,000 during a period of 30 days.
Venmo Versus Credit Cards
What if you don’t want to pay via an app, and you don’t like carrying cash around either? In that case, your best bet might be a credit card. You’ll need to ask your waiter or your cashier to split the bill, but most merchants are happy to oblige.
Look for credit cards with the following perks:
A low APR. Choose a low-interest credit card to save money on interest payments.
Cash back rewards. Why go for a standard credit card when you can get a little money back each time you shop?
Balance transfer offers. Transferring your balance from another credit card? In that case, look for a 0% balance transfer offer.
Credit builder cards. If you don’t qualify for an unsecured credit card, go for a secured card or a credit builder card to boost your credit score.
So is Venmo Safe?
Let’s recap. Venmo is a P2P payment app, and its parent company is PayPal. You can send money to friends, family members and other trusted individuals via Venmo. Some online stores accept the payment method, too. Venmo offers a debit card and—if you qualify—a credit card. You can fund your account with your bank account, a credit card or a debit card.
If you prefer not to pay by app and you don’t feel safe carrying cash, you might want to go with a credit card. Looking for the right credit card for you? Check out ExtraCredit® today. You’ll see select personalized credit offers when you visit your Reward It portal.
A FAFSA is an application for financial aid that determines your eligibility. This application will not appear on your credit report, and does not affect your credit score.
Congratulations on your high school graduation! You put in a lot of hard work to get that degree, and you deserve to celebrate. This might be your last summer of “freedom,” but that doesn’t mean you don’t have any responsibilities to take care of.
If you haven’t submitted the FAFSA—a crucial step toward receiving financial aid or taking out student loans—now is the time to buckle down and get to work. Even if you don’t think you’ll qualify for financial aid, we recommend getting familiar with the FAFSA, understanding its potential impacts on your credit score and financial future, and submitting an application.
Here’s what we’ll cover in this piece:
What Is the FAFSA?
FAFSA stands for Free Application for Federal Student Aid. It’s a one-stop application for all federal student loans, grants, work-study opportunities, and other financial aid sponsored by the US government. In order to qualify for federal financial aid, you must fill out a FAFSA.
Filling out a FAFSA is free, and the federal government provides more than $112 billion in FAFSA funds each year. States and other aid organizations may require you to fill out a FAFSA as part of their loan, scholarship, or grant applications as well.
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Does the FAFSA Affect Your Credit Score?
The FAFSA is just an application for financial aid, which means it won’t affect your credit scores. You complete it to find out what type of financial aid you might be eligible for. The fact that you completed the FAFSA never shows up on your credit report—it’s not considered a credit inquiry—so it can’t impact your credit score.
Does Financial Aid Show Up on Your Credit Report?
The results of your FAFSA could impact your score depending on how you handle them. Financial aid that you don’t have to pay back, such as scholarship or grant money, doesn’t hit your credit report. It’s not debt, so there’s no reason for it to. But student loans can show up on your credit report.
Student loans, whether you qualified for them via the FAFSA or took out private student loans, are a form of debt. They may be reported to the credit bureaus. Paying those loans on time and as agreed could help improve your credit—and this is one way you can start building credit.
Missing payments or defaulting on student loans can hurt your credit. In this way, the outcome of the FAFSA could have an impact on your credit score.
Who Can Complete the FAFSA?
Anyone who is planning to attend a college or university in the next academic year can complete the FAFSA to find out what they qualify for. Completing the application isn’t a guarantee of any financial aid and it doesn’t create an obligation on your part—other than to tell the truth on the form. You may want to complete it each year to see what you qualify for.
Parents of dependent students can also complete the FAFSA. In these cases, it would be the parental household income that would be considered in determining what someone is eligible for.
The federal government does not consider credit scores or credit history when determining what someone is eligible for. The financial aid is decided mainly on financial need and income. You do have to meet some other requirements, such as having a valid Social Security number.
When Should You Complete the FAFSA?
The deadline for the FAFSA differs for each academic year, however, many schools have their own deadlines, as do states. They may process some financial aid based in part on the FAFSA. A good rule of thumb would be to complete the application as soon after October 1 as possible, to ensure you’re early enough to be eligible for the highest number of opportunities.
What Do You Need to Complete the FAFSA?
First, you have to create an FSA account. This is the account you use to complete the FAFSA, review any requests for additional information, and see what student aid you might be eligible for. Once you have an account, you will need the following to complete the application:
Your Social Security number and driver’s license number
Tax records for you and your parent for the qualifying year—typically it’s two years before the academic year in question
Any records of untaxed income and assets
A list of all the schools you want to apply to, as you’ll have to add them to the FAFSA
Can You Modify a FAFSA?
If you make a mistake or information changes, you can modify the FAFSA. If your income situation has changed drastically and is not well reflected by the tax return required by this year’s FAFSA, you can speak to the financial aid office at the school you’re attending or applied to. Those offices sometimes have options for addressing this issue.
Do You Have to Pay Back FAFSA Money?
Whether or not you have to pay back FAFSA money depends on the type of aid you receive. Certain need-based grants don’t have to be paid back. Student loans do.
What if You Don’t Qualify for FAFSA Money?
Federal student aid isn’t the only way to pay for college. For some, private student loans can be an option. Check out the student loan marketplace at Credit.com to see some of your options. And if you get some FAFSA money but it’s not enough to cover all your college expenses, you might consider applying for a college student credit card. Use it responsibly to help build your credit as you go through school.
Revvi Visa® Credit Card
Earn 1% Cash Back Rewards on All Purchases with Revvi!
The Perfect Card for Not-So-Perfect Credit
If approved, pay the $95 Program Fee to open your account
Fast and easy application process with a response provided in seconds!
Reports to All Three Major Bureaus to Build Your Credit History
Eligible for a Credit Line Increase after 12 months of on-time payments!
Choose between 2 free card designs and 4 Premium designs
Advertiser Disclosure: Credit.com has partnered with CardRatings for our coverage of credit card products. Credit.com and CardRatings may receive a commission from card issuers.
Editorial Disclosure: Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.
Snapshot: This is an entry-level student credit card with great perks, especially for those who travel via Uber or order with Uber Eats regularly.
Basic Features
An ongoing APR between reg_apr,reg_apr_type
A annual_fees annual fee
Perfect for people with credit_score_needed credit
Additional Details
You can earn an unlimited 1.5% cash back on every purchase
If you spend $100 in qualifying purchases within the first 3 months of opening the account, you qualify for a free $50 cash bonus!
Only through 11/14/2024, you can get a free UberOne membership and up to 10% cash back on Uber and Uber Eats purchases
Pros
Cons
Unlimited 1.5% cash back with numerous ways to redeem
No introductory APR offer
10% cash back on Uber spending through November 2024
Potentially high APR
Coverage of your Uber One membership fees through November 2024
No annual fee
Ready to learn how to apply?
Full Review of Capital One Quicksilver Student Cash Rewards Credit Card
This card is a great choice for students who may not have any credit built up yet but are looking to get in on cash back rewards. Just a heads up: this card is exclusive to students. So if you’re enrolled in a university, a community college or another post-secondary education institution and want to work on building credit while earning some sweet cash back rewards, this card may be right for you. (This is especially true if you’re planning on Ubering around campus or getting delivery through Uber Eats.)
There are quite a few credit card options available in the student credit card market that offer rewards, good interest rates, and low fees for students with low to non-existent credit who are just starting out. There are a few reasons why we like the card_name (in general, Capital One has great card offers), and a few things to consider before applying. Let’s get into it.
What You’ll Like About This Card
Unlimited 1.5% Cash Back
You can earn 1.5% cash back on your everyday purchases with no limits. Other cash back rewards may offer higher, variable cash back rates on unique purchases, but the Capital One Quicksilver Student Cash Rewards Credit Card is simple, direct, uncomplicated. It also allows you the flexibility to redeem your rewards as cash back, gift cards, or statement credits.
10% Cash Back on Uber Eats
Now through November 2024, you can earn even more by using your card to pay for Uber orders. Spend $50 on Uber or Uber Eats every week for a year, for example, and you can end up with an $260 extra as long as you’re paying off your card every month.
Free Uber One Membership
Another way this card helps you save money is that it covers your Uber One membership through November 2024.
Sound good? Learn more about applying for a Capital One Quicksilver Student Cash Rewards Credit Card
The Drawbacks
No Introductory APR Offer
Cards that come with an introductory 0% APR make it possible to make larger purchases initially and pay them off over time without incurring interest. (If you’re a student, that 0% APR may come in handy when buying books or materials for school). However, this card doesn’t have an introductory 0% APR offer.
Potentially High APR
Depending on your approval status, the APR on your card might be relatively high. It’s not a big deal if you regularly pay off your balance, but you might want to shop around to see if you can get a better rate, especially if you have decent credit already.
How Does It Compare to Other Student Credit Cards?
Revvi Visa® Credit Card
Intro APR: None
Intro APR: None
Intro APR: None
Ongoing APR: reg_apr,reg_apr_type based on creditworthiness
Ongoing APR: reg_apr,reg_apr_type based on creditworthiness
Ongoing APR: 35.99% Fixed
Balance Transfer: None
Balance Transfer: None
Balance Transfer: None
Annual Fee: annual_fees
Annual Fee: annual_fees
Annual Fee: $75 first year, then $48 after
Credit Needed: Scores in the credit_score_needed range
Credit Needed: Scores in the credit_score_needed range
Credit Needed: Scores in the poor – bad range
Is It Worth It?
For students looking to build credit, the Capital One Quicksilver Student Cash Rewards Card can be a good option. If you already spend a decent amount with Uber, you can rack up cash back quickly now through November 2024. Then, you can use that cash to cover books or other necessary expenses or splurge on something fun like a concert or weekend trip.
Are you ready to maximize your credit rewards?
Frequently Asked Questions
What are the credit limits for the Capital One Quicksilver Student Cash Rewards Credit Card (minimum and maximum)?
The credit limit you’re approved for depends on your credit history and ability to pay back any balances. That being said, users of the Capital One Quicksilver Student Cash Rewards Credit Card can likely expect credit limits from a few hundred to a thousand dollars or so.
How soon can I increase my credit limit after being approved for a Capital One Quicksilver Student Cash Rewards Credit Card?
Credit card providers are often willing to increase your credit limit after a period of time in which you have demonstrated on-time payments and responsible credit management.
How good is a Capital One Quicksilver Student Cash Rewards Credit Card for building credit?
This is a decent credit-building card for someone (like a student) just starting to build their credit. Capital One also regularly reports to credit bureaus, so your timely payments will be noted and can help you build credit.
Advertiser Disclosure: Credit.com has partnered with CardRatings for our coverage of credit card products. Credit.com and CardRatings may receive a commission from card issuers.
For many people, college is the first time they’re truly in charge of their own finances. While it’s often a challenge, creating and maintaining a savings account for students is a foundational lesson for building healthy financial habits that last a lifetime.
And saving money as a student has its short-term, practical benefits, too.
“Life throws a lot of expenses our way that are hard to plan for—like when your car suddenly refuses to start when you’re running late for class,” says Jacqueline DeMarco, a freelance writer specializing in personal finance content. “That’s why building out a solid emergency fund is something that every college student should prioritize.”
So, how can you save money as a student in college? These savings tips can help give you some monetary breathing room and a financially secure start in adulthood.
Can you make your bank accounts work for you?
First things first: Make sure you have a good place to keep your savings. That means finding a bank that’s convenient and offers the features and benefits that work best for you.
DeMarco notes that students may feel limited to banks available on or near campus.
“If they aren’t happy with their on-campus bank options, college students may find that an online bank is a better fit for them,” DeMarco says. “Not only do online-only banks offer all of their services digitally, they also tend to have lower fees and offer higher interest rates than banks with expensive brick-and-mortar locations to pay for.”
Whichever bank you choose, DeMarco says there are two accounts every new student should strongly consider opening: a checking account and a savings account.
Setting up both a savings account and a checking account can be done online within a few hours at the bank of your choice.
How can students save money?
Once you’ve set up your checking and saving accounts, it’s time to take the next step toward financial responsibility. One of the best ways to save money for students is by setting up a budget.
How much should a college student spend per month? To determine that, DeMarco recommends subtracting your monthly expenses (essentials like food, utility bills, etc.) from your monthly income (whether it’s from a part-time job, student loans, or money from a parent). Doing this simple math will help reveal how much you can safely spend each month on fun stuff like new clothes or going to the movies—after you’ve put aside a portion for your savings, of course.
Looking to add more wiggle room to your budget? Try these money-saving tips for students:
Shop at consignment and thrift stores
Consignment and thrift stores offer previously owned clothes and other items at a discount. The primary differences are that thrift stores tend to be nonprofit organizations, accept more donations, and are generally less selective in what they choose to sell. Consignment stores are often more selective about the donations they accept, and they pass a portion of the sale to the person who donated—or consigned—the product.
DeMarco notes that consignment stores are not only a smart option for saving money—they’re also a way for students to make extra money by selling unwanted items.
Buy used textbooks
Textbooks can cost students hundreds of dollars if they’re new. Instead of paying full price, consider buying or renting used textbooks. “Many college bookstores offer used options, and online platforms often provide affordable alternatives,” DeMarco says.
You might also be able to recoup some of the money you spent once you’ve finished a class by reselling your textbooks to a used bookstore or an online vendor. “Sometimes I could even sell a book for more than I bought it,” DeMarco says, referencing her time as a student. Cha-ching!
Think about meal planning
So busy with classes and assignments that you find spending money at vending machines for on-the-go snacks easier than planning ahead? Stop, shop, and save. Set aside a few hours each weekend to prepare all of your meals for the week to come. Or, if you live in a dorm, hoard some extra items from the dining hall so you’re ready when those late-night study session cravings inevitably strike.
“Planning meals in advance gives students the chance to make a shopping list and stick to it,” DeMarco says. “As a bonus, having their meals planned will make it easier to avoid the temptation to dine out after a long day of classes.”
Explore free activities
Who says you need to splurge to have a good time? There are plenty of ways to have fun without spending money. Chances are, multiple free activities are happening on and around your campus on any given night. You can look up event calendars online or keep an eye out for announcements. Groups and clubs are always looking for participants and potential new members, so you can bet they’ll be happy to have you. (Plus, a lot of these events have free food.)
Ask for student discounts
It’s common for stores on and off campus to offer student discounts. To reap the benefits, always keep your student ID in your wallet, purse, or cellphone case so you can flash it and save some money.
“You’d be surprised how many retailers, restaurants, theaters, and entertainment venues offer discounts specifically for students,” says DeMarco, who relied on student discounts to help build her professional wardrobe as she neared graduation. “Plenty of major mall brands offer these discounts.”
Get a cheap coffee maker
Relying on caffeine to get through those late-night study sessions—or just to get moving each morning? Save money on java by buying a coffee maker and becoming your own barista. DeMarco says that a cheap or used French press is easy to use and could save you hundreds of dollars over the course of a year.
Rethink the car
It can be tempting to bring a car to college—whether for grocery runs or the occasional road trip. But the costs of gas, maintenance, and parking can add up quickly, DeMarco says. So leaving that set of wheels at home is another way for students to save money. Most college campuses are great for biking and walking. And many also provide shuttle buses and rides to essential off-campus places like grocery stores—as well as safe rides at night.
Track your savings
As you put these ways for students to save money into practice, DeMarco suggests tracking their positive impact on your budget. That way, you can see how your small saving techniques can add up over time. There are even money-saving apps for students you can download to measure your progress.
Where should college students keep their savings?
As you’re finding new ways to trim your budget, where should you put the money you’ve set aside? DeMarco says you’ve got a few options to consider:
Rewards checking account
While there are better places for long-term savings, rewards checking accounts are a valuable tool for college students as they begin to manage their own finances. Certain online checking accounts will provide cash back rewards based on how much you spend. For example, the Discover® Cashback Debit Account provides a 1% cash back bonus1 as well as overdraft protection if you overdraw your account.
Checking accounts are an ideal place to keep your spending money, funds for paying bills, and income earnings from part-time jobs or side hustles since they allow you to access the cash you need at any time.
High-yield savings account
Starting a high-yield savings account, like the Discover Online Savings Account, in college can make a dramatically positive impact on the rest of your financial life.
DeMarco recommends a high-yield savings account for any money that students may not immediately need but still want to keep available. “That way, their savings can earn interest, but they can access those funds if needed,” she says.
Call it a sunny day fund—online savings with no monthly fees
Discover Bank, Member FDIC
And putting aside a set amount of money each month into a high-yield savings account can start earning you compound interest. Even depositing a small amount of savings while you’re in college can add up over the years to make a sizable stash down the line.
CD
CDs, or certificates of deposit—especially those with a longer maturity term—can provide a higher return than a savings account. Use CDs for savings that you don’t expect to need over the CD’s term. The term length for CDs can vary widely. For example, Discover Certificate of Deposit terms range between three months and 10 years, with competitive annual percentage yields.
“If a student has a solid chunk of savings they know they won’t touch for a while, they may want to consider keeping their money safe in a CD, where it’s guaranteed to experience growth,” DeMarco suggests.
Retirement account
If you’re ready to start preparing for the more distant future (always a good idea), you can start by contributing money to an IRA, or individual retirement account. While some college students wait until they have a full-time job that offers a 401(k) plan to begin saving for retirement, the sooner you can get a head start, the better.
Discover offers both IRA CDs and IRA savings accounts.
Why not start saving while in college?
There’s really no better time to start saving than in college. To make your savings dreams a reality, set goals at the start of each semester and check your progress periodically. Maybe even reward yourself (nothing too extravagant, of course) for staying on track. Something as small as the occasional special meal or an activity that doesn’t blow your budget can be a fun way to celebrate those financial milestones.
Saving money can also create some amazing memories with the new friends you’ll be making. Ramen might seem dull, but challenging friends to see who can come up with the best recipe using cheap instant noodles can spice up the fun.
College can be a wonderful experience. And weaving these saving tips into that experience can help build the foundation for a comfortable and secure financial future. Just think: It could all start with a high-yield savings account.
Articles may contain information from third parties. The inclusion of such information does not imply an affiliation with the bank or bank sponsorship, endorsement, or verification regarding the third-party or information.
1 ATM transactions, the purchase of money orders or other cash equivalents, cash over portions of point-of-sale transactions, Peer-to-Peer (P2P) payments (such as Apple Pay Cash), online sports betting and internet gambling transactions, and loan payments or account funding made with your debit card are not eligible for cash back rewards. In addition, purchases made using third-party payment accounts (services such as Venmo® and PayPal®, who also provide P2P payments) may not be eligible for cash back rewards. Apple Pay® is a trademark of Apple Inc. Venmo and PayPal are registered trademarks of PayPal, Inc. Samsung Pay is a registered trademark of Samsung Electronics Co., Ltd. Google, Google Pay, and Android are trademarks of Google LLC.
Looking for an app that does it all – automate savings, track spending, investing, and get a free $250 cash advance?
Welcome to my Albert App Review.
Looking for an all-in-one personal finance app that will help you manage your money, save for your future, or even get a free cash advance when you need it?
In that case, you’ve come to the right spot!
In this Albert App Review, I’ll go over everything you need to know about the popular Albert app, and I will discuss its features, benefits, how the app can help you, and more.
You can sign up for the Albert app here.
The Albert app is becoming more and more popular as a money tool that can simplify your life. Instead of needing a bunch of different financial apps, Albert can help you consolidate your phone and need less. The app is a one-stop shop for your monthly financial needs – it automates savings, helps you manage your budget, and has spending, borrowing, and investing tools. With this easy app and the wide range of tools that you can use, Albert has many benefits.
This app reduces the need for multiple apps since it offers a wide range of tools and features.
If you’re looking for a money saving app, Albert can be a great option to start with. There’s a reason why it’s one of the top money apps in the App Store!
9
Albert is one of the most popular personal finance apps, and it is designed to make it easier to save and invest all in one place. This app has features for saving, investing, and budgeting.
Quick Summary – Albert App Review
Albert app is a financial management tool that helps you to save, spend, and invest right in the app
The Genius feature allows you to ask any money question and get a real response from a real person
Albert app’s cash advance feature can get you up to $250
The app is free, but some features do require a monthly subscription
Albert App Review
What Is The Albert App?
The Albert app is a personal finance app that will help you manage your money better by making it easier to save and invest all in one place. This app has features for saving, investing, budgeting, and more.
It has many different features, such as budgeting tools, real-time alerts, and a helpful service where you can ask an expert money questions and get real answers catered to your situation. The app strives to make financial management easier and more organized for everyone.
Albert makes it easy to manage your finances, eliminating the need for visits to physical bank branches or formal phone calls with a financial expert. With the ease of using an app, you can easily track your financial well-being, helping you stay organized, reach goals, and find smart ways to save, spend, and invest. Albert stands out by simplifying your personal finances, all while keeping things very easy to use.
Albert also has a feature where you can get a small cash advance of up to $250 with no late fees, interest, or credit check. This advance is repaid from your next paycheck, giving you the option to avoid high-interest personal loan lenders for those in need of quick cash.
There are no hidden fees, and it is free to sign up. They do have a paid subscription plan that you can sign up for which will give you access to different features such as financial advice from experts. I talk about the paid part further below.
Does The Albert App Give You Money?
Albert provides instant cash advances to users who need small amounts of money before their payday. They do not charge late fees, interest, or run a credit check for this feature.
This can be a great way to not pay high rates on payday loans for when you just need a little bit of cash.
How it works is that the Albert app will send you up to $250 from your next paycheck straight to your bank account. Then, you simply repay them when you get paid. You can pay a small fee to get your money instantly, or you can wait 2-3 days and get the cash advance for free.
Albert Instant is available to all members of the Albert app who qualify, whether they are a paid subscriber or not. Now, not everyone will qualify. To determine your eligibility for a cash advance, they look at things such as if your income is direct deposited into your connected bank account, if your bank account has been open for at least 2 months and has a balance greater than $0, and if you’ve received consistent income in the past 2 months from the same employer.
Albert App Features
The Albert App has many other features, such as:
Banking with Albert
Albert has a user-friendly banking service through its partnership with FDIC-insured Sutton Bank. This includes features like no minimum balance requirement and access to your paycheck up to two days early.
With an Albert account, you can also earn cash back rewards, such as getting a cash back bonus on gas, groceries, and more when you purchase items with your Albert debit card. You can earn an average of $2.00 per gas tank fill-up. You do need to be a Genius subscriber to take advantage of this benefit.
The app also has fee-free ATMs for their paid subscribers at over 55,000 ATMs (when using the Albert Mastercard debit card).
Albert Savings
Albert Savings is the app’s automatic savings tool that is available to Genius subscribers. It saves money from your linked bank account to your Albert Savings account.
This automated savings tool helps you build up your funds without the stress of manual transfers. It analyzes your income and expenses to calculate the amount you can save comfortably. Or, you can manually set your own savings schedule.
The Albert saving feature can help you to save more money and reach your goals.
The money in your Albert Savings account is yours, and you can withdraw it at any time.
Albert Budgeting
The Albert Budgeting feature is super handy and packed with a bunch of useful tools to help you manage your money with ease.
The Albert app has budgeting tools to help you track your income and expenses, find fees that you shouldn’t be paying, and watch your financial progress. The app will send real-time alerts and notifications to help you stay on track with your budget. But, that’s not all.
Other features of Albert Budgeting include:
The Albert app can negotiate your bills so that you can save money. The app will help you lower your bills such as for cable TV, internet, cell phone, and more.
The Albert app also makes it easy to see all of your budgeting info in one quick place, such as tracking your recent bills, seeing how much you’re spending in different categories, and more.
The app will categorize your spending so that you can see where your money is going (this can help you to realize where you may need to cut back)
Also, the app will help you find hidden charges and subscriptions that you may not be using.
These are all very helpful features that can help you save a lot of money in the long run.
Albert Investing
If you’re new to investing or you’re looking for an easier way to invest, the Albert Investing side of the app can make getting started much, much easier.
With Albert Investing, you can start an investment portfolio that matches the amount of investment risk you want to take on and your financial goals. The app even provides investment guidance and lets you start investing without any minimum investment amount needed.
So, that means that you can start investing with Albert Investing with just $1.
You can get started investing in the app by answering some questions (the app wants to learn more about you so that it can make selections based on your personal situation). The app will then choose individual stocks or funds for you to invest in (or, you can choose these yourself if you know what you want to invest in). You can even ask the app to only invest in themes as well, such as companies that are interested in sustainability and the environment. You can then continue to invest automatically or on a recurring schedule. The auto-investing feature can be a great tool if you are looking to save time and invest regularly without really thinking about it.
Albert Genius
This is one of my favorite parts in the app.
The Albert Genius service gives you financial advice from a team of expert financial advisors (this is a team of real human experts that you are able to talk to – not a robot), available through a paid monthly subscription in the app.
You can ask their experts any money question that you have, whether it’s a big or small question, a general question, or something more specific to your personal situation. Your questions can be about anything from credit cards, budgeting, student loans, investing, credit card rewards, life insurance, your personal financial life, and more. These experts will help you answer your questions 7 days a week too. And, there’s no limit to the amount of questions you can ask.
This is a very nice feature to have access to.
Some of the questions you can ask include:
How do I start a budget?
How do I lower my car insurance? Am I paying too much?
How much can I personally afford to spend on a house?
How can I improve my credit score?
How much money should I have in my emergency fund?
Should I use extra cash to pay off debt or invest?
Can you help me to better under travel miles and credit cards?
There are so many different questions that you can ask the team at Albert!
Albert Protect
Albert Protect is a feature for paid subscribers on the app.
The Albert Protect feature monitors your money around the clock. The app will alert you if something suspicious comes up for any of your connected financial accounts or your identity. The app continuously watches for suspicious activity on your credit report, the dark web, data breaches, and unusual charges.
How Does The Albert App Work?
Signing up for Albert is easy!
Simply click here to get started.
Or, you can head to the Google Play or App Store, depending on your device (Android or iOS), and download the app. Once installed, the app will walk you through the setup process. There’s no need to worry about a credit check as Albert doesn’t require one for signing up.
Next, you’ll be asked some questions about yourself such as your name and age. The app is trying to learn more about you. Here’s what Albert says specifically about the questions that they ask: “We do this in order to best serve your needs: a 19-year-old single student has different financial objectives and priorities than a 37-year-old professional with two kids who will be starting college soon.”
Then, you’ll be asked to connect your financial accounts to the app. So, you may connect your bank account that your bills come out of, your credit card accounts, student loans, mortgage, investments accounts, and more. You can connect as many or as little as you want. This information helps the app better serve you so that it can give you recommendations, track your spending, give you alerts, and more.
After you sign up, you’ll have access to the many features mentioned above to help you manage your finances. As you learned above, there are a lot of tools in this app, so I recommend just playing around in the app at first to better familiarize yourself with it and see how it can help you. Maybe sit down for a few minutes at a time until you understand how to use the app in the best way for your financial situation. That’s exactly what I did when I first downloaded the app because it was a little intimidating at first trying to see all of the different things that the app can do. But, it’s so nice that everything can be done right from one app!
To sign up for the app, they do require that you be a U.S. citizen or resident, be at least 18 years old, and have a bank account with a U.S. financial institution. Unfortunately, at this time, the app is not available to those outside the U.S.
How Much Does Albert App Cost?
The Albert app has a lot of different features, so you may be wondering what the cost is or if there are any monthly fees.
The great thing is that many of the tools and features on the Albert app are free.
For example, the Albert App has a fee-free cash advance feature to help you cover unexpected expenses. If you need some extra cash until your next paycheck, you can get up to $250 as a cash advance, with no cost. There are no late fees, overdraft fees, or maintenance fees associated with this service.
You can also start investing with as little as $1 and use the free cash advances feature (as long as you meet eligibility requirements) without the need for a subscription.
Now, the Genius subscription does have a cost.
If you’re looking to unlock all of Albert’s helpful budgeting, saving, and investing tools, you might want to consider their Genius subscription. This subscription starts at just $14.99 per month and gives you access to some helpful benefits like cash bonuses and personalized financial advice. Keep in mind that the true value of the Genius subscription depends on how often you use the app and all its features. So, if you’re a frequent user of the app, it could be a great investment in your financial well-being.
Is Albert App Safe to Use?
Yes, Albert is safe to use.
Let’s start with the basics – the Albert app isn’t a bank, but it teams up with FDIC-insured Sutton Bank to offer you banking services. That means that the money in your Albert Cash account is safe because it’s protected by the Federal Deposit Insurance Corporation (also known as FDIC). That’s a fancy way of saying your funds are insured for up to $250,000.
Your Albert Savings accounts are held at FDIC-insured banks, including Coastal Community Bank, Axos Bank, and Wells Fargo.
When it comes to data security and privacy, Albert takes that seriously too. The app has security measures to protect your sensitive personal and financial information.
As for customer service, if you ever face any issues with the Albert app, you can easily reach out to their support team for assistance. Many Albert app reviews have mentioned their responsive customer service.
Pros and Cons of Albert
Like with any personal finance app, there are pros and cons. I can’t write an Albert app Review and not talk about the pros and cons, so that you can make the best decision for yourself.
Some of the benefits of using Albert include:
The app aggregates all of your accounts – Albert gives you an overview of your financial life by combining all your accounts in one place.
Savings and investments – The app offers customizable savings goals and can create a custom portfolio for your investment needs. It will also keep track of your transactions and help you identify potential savings opportunities as well as avoid late fees.
The Albert app is safe – Your information is kept safe with the same level of security used by major banks, as well as FDIC insurance.
Albert Genius – This feature provides personalized money advice from financial experts (real people, not a robot!) to help you make smarter financial decisions. You can ask any money question and will get personalized advice.
Free cash advance – Get a cash advance on your next paycheck without any late fees using Albert Instant, or access your paycheck up to two days early with direct deposit.
Free ATM withdrawals – This is a feature paid monthly members get to have.
While Albert has many helpful tools and features, there are some potential downsides to using the app such as:
App-only functionality – All features of Albert are limited to the app, which may be inconvenient for some people who prefer to be on their computer instead of their cell phone.
Fees – While many features in Albert are free to use, some, such as the Albert Genius service, require a subscription fee. The fee is quite affordable for the services you receive, though.
No phone calls – If you need to talk to customer support, there is no phone number to call. Instead, it’s all done through the app, text message, or email.
Frequently Asked Questions
Here are answers to commonly asked questions about the Albert app.
Is Albert a trustworthy app?
Yes, Albert is a trustworthy app. Your banking money is FDIC-insured, with coverage up to $250,000, and your investments are SIPC-insured. The app has many financial tools and you can even get personalized advice from experts.
How much can you borrow with Albert?
The maximum for a cash advance is $250.
How do you get $250 from Albert app?
Albert offers a cash advance feature called Albert Instant. After you enable this feature and meet the requirements, you can access funds quickly, sometimes up to $250.
Does Albert give you money right away?
In some cases, Albert can provide instant cash advances or help you get your paycheck up to two days early via direct deposit, depending on your employer and banking situation.
How long does it take to get money from Albert?
Getting your hands on the cash you need from Albert is all about the service you’re using. If you’re in a hurry, instant cash advances could have those funds in your pocket right away. But for paycheck advances and other features, it might take a couple of days before you see the money.
What are the requirements to get a cash advance on Albert?
Requirements for a cash advance with Albert include a history of consistent income, using the Albert app for a certain period, and having a bank account linked.
Does Albert hurt your credit?
Albert does not directly impact your credit score as it is not a lender. However, using the app’s guidance to improve financial management can help you work towards building or maintaining a higher credit score.
Does Albert need your social security number?
Yes, when signing up for the Albert app, it will ask you for your SSN. This is because it is an investment app and they need to verify that it is actually you signing up.
Is Albert or Chime better?
Albert and Chime are different financial apps with different features. Albert focuses on money management, investing, and advice, while Chime is a mobile banking app offering checking and savings account services. Your choice should depend on your financial goals and preferences.
Why is Albert taking money from my account?
If you’re already an Albert user, this may be a troubleshooting question that you have (and perhaps you searched Google and found this blog post). Albert takes money from your account (such as your bank checking account) to fund the services you’ve opted into, such as investments or automatic savings. You can check the app’s settings or contact Albert to learn more,
Is Albert app affiliated with a specific local bank?
Albert is backed by Sutton Bank.
Is the Albert app reliable and secure for banking?
Yes, Albert is a reliable and secure app for managing your finances. It is FDIC and SIPC-insured and has a variety of financial tools and resources to help you improve your financial situation.
How is Albert app customer service?
I did some research and I found great Albert app reviews on their customer service. The Albert app has customer service options within the app and online. They do not have an option to call their customer service and speak on the phone. But, if you’re like me, you probably prefer to get your questions answered via text message or email anyways.
Is Albert app legit?
Yes, the Albert app is a legitimate personal finance app that can help you manage and improve your finances. Millions of people (last I checked, over 10,000,000 people use this app) use the app’s many helpful tools. The app is available for people on Apple or Android devices and it has great reviews.
Who is Albert app best for? Who should not use it?
The Albert app is a helpful all-around financial app that can help many different people. If you’re looking for an all-in-one app to help you save, spend, borrow, and invest, Albert might be a good fit for you. The app is helpful for people who:
Want fee-free cash advances up to $250 (this is a feature that many people like because they don’t have to sign up for high-interest rate loans when they just need something for a short amount of time)
Need an app that gives you an overview of all your accounts in one place
Are interested in automatic savings and easy investing tools
Albert takes the work out of managing your finances and may be helpful for people who are trying to stay on top of their personal budget without having to juggle multiple apps.
However, Albert may not be the best fit for everyone and not everyone needs to have it. So, if you fall into any of the below, then this may not be the app for you
If you’re an experienced investor looking for more advanced trading tools, then this may not be the best investing app for you (the Albert app is basic in this area because I think it caters more to those who are new investors or are looking for something easier to manage)
If you’re someone who doesn’t feel comfortable linking their bank accounts to a third-party app (you will need to link accounts in order to get full use of the app – I understand that some people may not want to do this)
Albert App Review – Summary
I hope you enjoyed my Albert App Review.
I think this is a very helpful app, and I can see why it’s one of the most popular money apps today.
Albert is an app designed to help manage your saving, budgeting, investing, and more, all in one easy app. The app has all of the different money tools that you would want, plus some extras that you may have not realized you needed yet.
Albert is an app that helps you to manage many different parts of your financial life right from your cell phone (it’s not available on computers).
They even have the Genius feature (one of my favorite parts of the app), which is an in-app chat where you can ask one of their experts anything related to money, from credit cards, buying a car, student loans, and more. This is very helpful if you ever have questions about money.
And, if you need cash now, Albert may be able to give you a small advance of up to $250. There are no late fees, interest, or a credit check. If you want to avoid personal loan lenders who have high-interest rates, and only need a small cash advance, then Albert may be a place to start with. How this works is that they send you $250 from your next paycheck. You simply repay them when you receive your next paycheck.
You should keep in mind that investment options don’t include retirement plans and customer service can only be reached via email and text. Though the app’s budgeting tools are more basic compared to budgeting-focused apps, the Albert app still has many, many benefits to help you manage your finances effectively and it’s all from one easy-to-use app.
You can learn more about Albert here.
What’s your favorite personal finance app? Do you use the Albert app?