It can be a little overwhelming to choose the right Diwali decorations for your home, especially if you are on a budget. Finding the right decor items for your home that will beautify your space and be affordable can be difficult to find. However, online shopping platforms like Amazon offer a wide range of home decor items at affordable prices.
Here are some decor items to consider buying for your home this Diwali which will cost under ₹500.
Scented candles
Scented candles are an absolute delight to have at home, especially around Diwali. Scented candles create a calm aura and enhance the atmosphere around them. They will also light up your home during Diwali with their subtle and soft warm light. Their price starts from as low as ₹150.
Cage Lanterns
If you are into aesthetics and that is something you love to decorate your room with, cage lanterns are a great decor item to have this Diwali. You can get these metal cage lanterns and decorate them with fairy lights, bulbs and even artificial vines and flowers. Their price starts from ₹250.
Don’t Miss: Diwali Shopping: Your Go-To Checklist For Festive Home Decoration
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Jute Carpet
If you are looking for something to spruce up the floors of your living room for a low cost, jute carpet (How To Clean Carpet) will work great for you. These are easy to clean and maintain and look boho. These will enhance the look of your living room area giving it a classy look. You can get these from Amazon for as low as ₹300.
Wind Chime
There was a time when wind chimes used to be in fashion. These beautiful decor pieces are hung on the door frame and windows. Whenever the wind blows or someone passes through, these chimes make soothing sounds. You can buy a variety of wind chimes from online shopping platforms for as low as ₹100.
Don’t Miss: Diwali: Here Are 5 Markets In Delhi NCR To Buy Aesthetic Decor Items
Wall Hanging
Wall hangings are very much in fashion these days. You can buy different kinds of wall hangings to decorate your bland and simple walls to enhance their beauty. These wall hangings come in the forms of paintings, scrolls and even mirrors. Their price range begins from ₹200 and you can buy them from any e-commerce platform.
Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Information in this piece is accurate as of August 2023.
The best credit cards provide you with cash back rewards, points you can redeem for purchases at your favorite stores, travel miles and much more. Each credit card is fine-tuned with specific perks and benefits, and you’ll find plenty here that will fulfill your needs.
We’ve reviewed 25 credit cards from our partners that not only provide great rewards, but we’ve found the best credit cards for people with no credit, bad credit and fair credit. We’ve also provided a complete guide to help you better understand how credit cards work, as well as some tips to assist you in choosing the right one.
Table of Contents:
Best Overall Cards From Our Partners
The best credit cards bring in new customers by providing various perks, bonuses and benefits. The following credit cards have some of the best sign-up offers that come in the form of cash back rewards and travel miles.
Best for: Repairing credit
Secured Chime Credit Builder Visa® Credit Card
Apply Now
on Chime’s secure website
Annual fee
Recommended credit score
You can qualify for the Secured Chime Credit Builder Visa® Credit Card with a $200 direct deposit
or more, and all you need is a checking account. As you use this secured credit card, you can
build your credit score—and there’s no minimum security deposit.
see more details
Pros
Helps build credit
No security deposit required
No interest
Cons
Needs Chime checking account
Best for: Low APR
Upgrade Cash Rewards Visa®
Apply
Now
on Upgrade’s secure website
Annual fee
Recommended credit score
The Upgrade Cash Rewards Visa® card has a flat rate rewards program for all purchases, which go on
your card when you make your monthly payments. The card also comes with peace of mind from its free
fraud liability program.
see more details
Pros
No annual fee
Fraud liability
Flat rate rewards
Cons
No debt card for welcome bonus
Balance Transfer
Balance transfer credit cards allow you to transfer debt from one account to another, and the best ones come with little to no fees.
Best for: Bonus categories and balance transfers
UNITY® Visa Secured Credit Card – The Comeback Card™
Apply
Now
on OneUnited Bank’s secure website
Annual fee
Recommended credit score
The UNITY® Visa Secured Credit Card – The Comeback Card™ is not only a balance transfer card, but
it’s a secured credit card as well, so there’s no minimum credit score required. This card has a
9.95% balance transfer rate for six months and a low fixed-interest rate of 17.99%.
see more details
Pros
No minimum credit score required
Low fixed interest rate
Fast approval
Cons
Annual fee
$250 deposit to open account
No Interest
Low interest is great, but having 0% interest is even better. These cards have their advantages and disadvantages, such as the advantage of not needing a good credit score, but their usage may be limited.
Best for: No interest
Merit Platinum Card
Apply
Now
on Merit Platinum’s secure website
Annual fee
Recommended credit score
The Merit Platinum Card does have an annual fee broken into monthly payments of $14.77, but their 0%
APR makes up for this. They also allow for a seven-day risk-free trial. With this card, you’ll gain
access to a $750 line of credit for Horizon Outlet and have other member benefits like roadside
protection and credit report monitoring.
see more details
Pros
0% APR
$750 line of credit
Works with bad or no credit
Cons
Annual fee
Can only use at Horizon Outlet
Doesn’t report to credit bureaus
Best for: No interest
Net First Platinum
Apply
Now
on NetFirst Platinum’s secure website
Annual fee
Recommended credit score
The Net First Platinum is a credit card that you can get approved for without any credit as well as
if you have bad credit. It provides you with a $750 line of credit for Horizon Outlet, and you also
receive member benefits like legal assistance, roadside protection and identity theft insurance.
see more details
Pros
0% APR
$750 line of credit
Works with bad or no credit
Cons
Annual fee
Can only use at Horizon Outlet
Doesn’t report to credit bureaus
Best for: No APR
Freedom Gold Card
Apply
Now
on Freedom Gold’s secure website
Annual fee
Recommended credit score
The Freedom Gold Card gives cardholders a $750 line of credit for Horizon outlet, which sells a wide
range of products as well as clothing. There’s no credit check or employment check required to get
approved, either. It also comes with additional member benefits like roadside protection.
see more details
Pros
No activation fee
$750 credit limit
No credit check
Cons
Annual fee
Can only use at Horizon Outlet
Lowest Interest
One of the primary factors people look for in a credit card is a low annual percentage rate (APR). This is the interest you pay on purchases after the introductory rate.
Best for: Bonus categories and balance transfers
UNITY® Visa Secured Credit Card – The Comeback Card™
Apply
Now
on OneUnited Bank’s secure website
Annual fee
Recommended credit score
The UNITY® Visa Secured Credit Card – The Comeback Card™ is not only a balance transfer card, but
it’s a secured credit card as well, so there’s no minimum credit score required. This card has a
9.95% balance transfer rate for six months and a low fixed-interest rate of 17.99%.
The Applied Bank® Secured Visa® Gold Preferred® Credit Card provides you with a credit limit of up to
$5,000 and has no minimum requirement for your credit score. You can open an account with a deposit
as low as $200.
see more details
Pros
Low fixed APR
High max credit limit
Cons
Annual fee
Cash Back
Cash back credit cards put money back in your pocket based on your spending. This can be either a flat rate or for specific categories like dining, entertainment or retail shopping.
Best for: Auto, home and health spending
Upgrade Triple Cash Rewards Visa®
Apply
Now
on Upgrade’s secure website
Annual fee
Recommended credit score
The Upgrade Triple Cash Rewards Visa® credit card provides 3% cash back for auto, home and health
categories. This is a quality choice if you’re doing home upgrades, repairing your car or purchasing
medications and using a gym membership
see more details
Pros
Up to 3% cash back
Umlimited rewards
Fraud liability coverage
Cons
Niche reward categories
Need debit card for welcome bonus
Best for: High percentage rewards
Petal® 2 Card
Apply Now
on Petal’s secure website
Annual fee
Recommended credit score
The Petal 2 card has no fees and is the perfect card for individuals with credit scores from poor to
excellent. You’ll receive 1% to 1.5% cash back on all purchases and up to 10% cash back when
shopping at certain stores.
see more details
Pros
No fees
High cash back rewards
No minimum credit score
Cons
No introductory offer
High APR
Travel
For those who travel, travel cards with top-tier rewards may be the right choice for you. You can get free airline miles along with other perks like points for rental cards and hotel stays.
Best for: Travel
Mastercard® Black Card™
Apply
Now
on Luxury Card’s secure website
Annual fee
Recommended credit score
The Mastercard® Black Card™ is a travel card that has 2% airfare redemptions with no blackout dates
or seat restrictions. You’ll also receive enrollment in Priority Pass™ Select, with access to 1,300+
airport lounges worldwide with no guest limit.
see more details
Pros
Low ongoing
Lounge access
Luxury travel benefits
Cons
High annual fee
Best for: Low APR and travel
Mastercard® Titanium Card™
Apply Now
on Luxury Card’s secure website
Annual fee
Recommended credit score
The Mastercard® Titanium Card™ is a travel card with a low ongoing APR of 19.24%. You’ll receive 24/7
Luxury Card Concierge® as one of the benefits along with 2% for airfare demptions with no blackout
dates or seat restrictions.
see more details
Pros
Luxury Card Travel® benefits
Airfare rewards
Cell phone protection
Cons
Annual fee
Best for: Low APR and travel
Mastercard® Gold Card™
Apply
Now
on Luxury Card’s secure website
Annual fee
Recommended credit score
The Mastercard® Gold Card™ has 2% airfare redemptions with no blackout dates or seat restrictions and
2% cash back. You also receive lounge access at over 1,300 airports worldwide and additional
benefits at hotels like room upgrades and free wifi.
see more details
Pros
Luxury Card Travel® benefits
Airfare rewards
Lounge access
Cons
High annual fee
Bad Credit
In order to build credit, you need a history of good credit—these are our top picks for credit cards if you’re working on improving your mid- to low-range credit score by adding more positive payments to your credit report.
Best for: Groceries and gas
Aspire® Cash Back Reward Card
Apply
Now
on Aspire’s secure website
Annual fee
Recommended credit score
The Aspire® Cash Back Reward Card gives cardholders a credit line of up to $1,000, and you’ll also
receive 1% cash back on all of your purchases. When shopping for groceries or getting gas, you can
earn up to 3% cash back as well.
see more details
Pros
Up to 3% cash back
1% flat-rate on other purchases
Up to $1,000 credit limit
Cons
Annual fee
High APR
Fair Credit
If your credit score falls within the 630 to 689 range, while not an excellent credit score, there are still plenty of cards you can apply for.
Best for: Building credit
Avant Credit Card
Apply
Now
on Avant’s secure website
Annual fee
Recommended credit score
The Avant Credit Card allows people with a credit score of 580 to 669 begin building their credit
score. It can be difficult to get a credit card with a fair credit score, so this card can be quite
helpful—they alsoregularly review your payment history for potential credit line increases.
see more details
Pros
Fast and easy application
Soft inquiry for credit check
Cons
Annual fee
High APR
Best for: Low APR
Upgrade Cash Rewards Visa®
Apply
Now
on Upgrade’s secure website
Annual fee
Recommended credit score
The Upgrade Cash Rewards Visa® card has a flat rate rewards program for all purchases, which go on
your card when you make your monthly payments. The card also comes with peace of mind from its free
fraud liability program.
see more details
Pros
No annual fee
Fraud liability
Flat rate rewards
Cons
No debt card for welcome bonus
Secured Credit Cards
Secured credit cards are a great option for those with no credit or bad credit. They work by providing you a credit line that uses your own money. You simply make a deposit, which becomes your credit limit, and you raise your score as you use your card and make your monthly payments.
Best for: Repairing credit
Secured Chime Credit Builder Visa® Credit Card
Apply
Now
on Chime’s secure website
Annual fee
Recommended credit score
You can qualify for the Secured Chime Credit Builder Visa® Credit Card with a $200 direct deposit
or more, and all you need is a checking account. As you use this secured credit card, you can
build your credit score—and there’s no minimum security deposit.
see more details
Pros
Helps build credit
No security deposit required
No interest
Cons
Needs Chime checking account
Best for: Repairing credit
PREMIER Bankcard® Secured Credit Card
Apply
Now
on PREMIER Bankcard®’s secure website
Annual fee
Recommended credit score
The PREMIER Bankcard® Secured Credit Card doesn’t require a checking account, and you can have a
credit limit of however much you deposit, up to $5,000. Regardless of your credit score, you can use
this card to begin building or repairing your credit.
The Applied Bank® Secured Visa® Gold Preferred® Credit Card provides you with a credit limit of up to
$5,000 and has no minimum requirement for your credit score. You can open an account with a deposit
as low as $200.
see more details
Pros
Low fixed APR
High max credit limit
Cons
Annual fee
Best for: Secured credit
The First Latitude Platinum Mastercard® Secured Credit Card
Apply Now
on First Latitude’s secure website
Annual fee
Recommended credit score
The First Latitude Platinum Mastercard® Secured Credit Card offers lines of secured credit between
$100 and $2,000. During your first year, they have an introductory offer for a $25 annual fee, which
changes to just $35 per year after that.
see more details
Pros
Low first-year annual fee
No credit score requirement
Low minimum deposit
Cons
Annual fee
*FICO scores and credit scores are used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any credit offer.
The Top Cards
The best credit cards depend on what you need. Whether you’re looking for a card that has low interest, one with the most rewards or one that gives you points for traveling, we broke down the top cards into nine categories.
Using similar criteria to our overall methodology, we’ve chosen the top card from each category.
How We Chose the Best Credit Cards
To rank the best credit cards, we reviewed over 25 credit cards from our partners. The primary criteria we looked at takes into consideration aspects cardholders look at during their decision-making process and includes:
Intro APR (10 points)
Regular APR (20 points)
Fees (15 points)
Works with low credit scores (15 points)
Cash back rewards (20 points)
Bonus offers (15 points)
Additional perks (5 points)
The best credit cards depend on your specific wants, needs and circumstances based on your specific credit score. Below, we discuss more about how to choose the right credit card for your situation.
There’s a lot of information about each specific card, so we listed the top cards with each of their primary benefits below to give you an overview at a glance.
Best Overall Cards From Our Partners
Secured Chime Credit Builder Visa® Credit Card: This is a card that is for individuals with bad credit or no credit, and it also has 0% interest on purchases. There’s no minimum security deposit as well.
Upgrade Cash Rewards Visa®: For every purchases, you make with this card, you’ll receive 1.5% cash back, and it also comes with a $200 signup bonus.
Best Balance Transfer Credit Cards
UNITY® Visa Secured Credit Card – The Comeback Card™: 9.95% on balance transfers for the first six months and then 17.99% fixed APR after.
Best Credit Cards for No Interest
Secured Chime Credit Builder Visa® Credit Card: This secured credit card helps those looking to repair or build credit and comes with 0% interest. There’s also no minimum security deposit.
Merit Platinum Card, Net First Platinum and Freedom Gold Card: Each of these cards comes with the same benefit of 0% interest as well as member benefits for their $177.24 annual fee. Although the card is limited to shopping at Horizon Outlet, 0% interest is hard to beat.
Best Credit Cards for Low Interest
UNITY® Visa Secured Credit Card – The Comeback Card™: 9.95% on balance transfers for the first six months and then 17.99% fixed APR after.
Applied Bank® Secured Visa® Gold Preferred® Credit Card: This card gives cardholders a credit limit of up to $5,000, and there’s no minimum credit score required. It also has a low 9.99% fixed interest rate and is great for anyone looking to build their credit score.
Best Cash Back Credit Cards
Upgrade Triple Cash Rewards Visa®: Ongoing APR as low as 14.99% on all purchases along with 3% cash back on home, auto and health purchases.
Petal® 2 Card: The Petal® 2has one of the highest cash back percentages at 10% when you shop at select merchants, and you’ll receive 1.5% cash back on all other purchases.
Best Travel Credit Cards
Mastercard® Titanium Card™: 0% APR for the first 15 billing cycles and 2% rewards on airfare redemptions with no blackout dates or seat restrictions.
Mastercard® Gold Card™: 0% APR for the first 15 billing cycles and 2% rewards on airfare redemptions with no blackout dates or seat restrictions.
Mastercard® Black Card™: 0% APR for the first 15 billing cycles and 2% rewards on airfare redemptions with no blackout dates or seat restrictions.
Best Credit Cards for Bad Credit
Secured Chime Credit Builder Visa® Credit Card: Secured credit card you can open with a $200 deposit or more along with a checking account.
Aspire® Cash Back Reward Card: A secured credit card option that also gives you 1% cash back on all of your purchases. You can also earn up to 3% cash back on groceries and gas.
Best Credit Cards for Fair Credit
Avant Credit Card: Can qualify with a credit score between 580 and 669.
Upgrade Cash Rewards Visa®: Ongoing APR as low as 14.99% and 1.5% flat-rate cash back on purchases.
Best Secured Credit Cards
Secured Chime Credit Builder Visa® Credit Card: Secured credit card you can open with a $200 deposit or more along with a checking account.
PREMIER Bankcard® Secured Credit Card: Secured credit card with a spending limit of up to $5,000.
Applied Bank® Secured Visa® Gold Preferred® Credit Card: Requires a $200 deposit and can go up to $5,000.
The First Latitude Platinum Mastercard® Secured Credit Card: Secured credit card with a limit of between $100 and $2,000.
A Beginner’s Guide to the Best Credit Cards
Whether you’re new to credit and credit cards or are experienced and just looking for the best options, this brief guide will provide you with additional information before choosing your new card.
How Do Credit Cards Work?
Credit cards are like taking out small loans, allowing you to buy something now and pay for it later on. You’ll need to pay back the money you borrowed on your credit card, and this comes with interest.
Some cards offer 0% interest for a certain amount of time, which means you’ll only pay back the same amount charged on the credit card.
Here’s what a basic credit card transaction looks like:
The purchase: Make a purchase with your credit card.
The authorization: The card reader used to run your card contacts your credit card company to ensure the funds are available based on your max limit.
The merchant payment: Your credit card company pays the merchant for the product or service you purchased.
The credit card payment: Each month, you’ll have a statement that shows how much you owed based on all of the purchases you made.
Learn more: How do credit cards work?
How Do Credit Card Rewards Work?
Credit cards with the best rewards will give you a high percentage of cash back or points that you can use at places you make purchases. The following are the two main types of rewards:
Cash back: Cash back rewards pay down your balance. For example, if you’re getting five percent cash back on $5,000 worth of purchases, those purchases would technically cost $250 less.
Points and miles: Rather than cash back, some cards offer points or miles. You can use points to redeem gift cards and other merchandise. With travel cards, your earned miles give you discounted or free travel, depending on how much you have saved.
The rate of the rewards come in two different forms as well:
Flat rate: Cards that offer flat rate rewards give you the same percentage on all purchases. While this is more consistent, they’re lower than tiered rewards.
Tiered rewards: The most common rewards cards offer tiered rewards, which means you receive different rates based on where you use your card. For example, you may receive five percent cash back on groceries, travel and fuel but one percent for everything else.
Which type of reward structure you choose should be based on how you spend. If a card has tiered rewards with a high percentage cash back on purchases you make regularly, that type of card may be a better option. And if you travel a lot, you may benefit more from a travel card rather than a cash back rewards card.
Learn more: 5 ways to maximize credit card rewards without overspending
How Do You Track Credit Card Rewards?
The majority of credit cards have a separate account that stores your rewards, which you can access through your credit card’s website or mobile app. Depending on the card and card issuer, you may see your rewards instantly after purchases, or they may not appear until the following billing cycle.
Here’s how the reward process looks:
You make a purchase
Your rewards are calculated based on a flat rate or tiered rewards
Your rewards are credited to your account
You redeem your rewards through the card issuer’s website or mobile app
Learn more: Ways to redeem your credit card reward points
How Does APR Work?
APR stands for annual percentage rate, which is the interest you’ll pay on your purchases. Simply put, this is what the card issuer charges you for borrowing money through your line of credit. Depending on the credit card, the APR may be fixed or changed based on the current economic conditions.
Below, we’ve listed some more helpful information about interest:
Your interest rate is generally based on your credit score, and you’ll get approved for lower rates when you have a better credit score.
While interest is shown as an annual rate, you’re charged, daily. For example, a 20 percent APR divided by 365 days in the year means you pay roughly .055 percent per day.
Your monthly statement shows how much interest you’re being charged.
Interest is not compounded, so you’ll pay your full interest cost each month.
Learn more: Help! I really don’t understand my credit card APR
How Does the Credit Card Application Process Work?
In the early days, credit card applications were done on paper, but now, you mainly do them online. When you apply for a credit card, the card issuer is evaluating your level of risk and trustworthiness based on your credit score. A good credit score indicates that you’ll pay back the money you borrow from your line of credit.
Here’s what the application process looks like:
Step 1: Fill out the application. You’ll need some personal information like your name, address and Social Security number. The card issuer may request other items.
Step 2: The card issuer runs your credit, which will check your score as well as your actual credit report. The credit score is just a number, but the report gives additional details such as how many cards you recently applied for or any additional details they may need.
Step 3: You’ll receive an approval or denial. These days, many online applications approve or deny you within just a few minutes.
If you’re approved for the credit card, you’ll typically receive the card by mail within 10 business days. Once you receive it, you can activate it and begin spending.
Learn more: How to apply for a credit card online
How Many Credit Cards Should You Have?
How many credit cards you have is really dependent on your situation and your preferences. There’s no optimal number of credit cards. Rather than the number of credit cards you have, you should take into consideration your credit utilization as well as how often you’re applying for new cards.
For example, if you have 10 credit cards but have a 20 percent credit utilization ratio, you’re doing great. But if you have three cards with a 70 percent utilization ratio, that can hurt your score. If you were to have that high of a utilization ratio with 10 cards as well, that would hurt your score. If you apply for new cards too often, this can also harm your score.
Learn more: How many credit cards is too many?
Types of Credit Cards Explained
When choosing a credit card, it’s helpful to know the various types. Different cards are beneficial for different lifestyles, purchasing decisions and personal preferences. Below, we’ve listed some of the most common types along with a brief summary of what they do.
Rewards cards: These cards pay you back via cash that you can use to pay down your credit card debt or points that you can redeem at stores or in the form of airline miles. You earn rewards by using your card.
Balance transfer cards: All credit cards have interest that you need to pay, but some have lower rates than others. Balance transfer cards allow you to move debt and give you a year or more to pay it back with no interest. This often comes with a fee, but the fee is usually less than the interest.
Low and no interest cards: These cards are some of the most popular because interest payments make purchases cost more than the original price. For those who plan on carrying their balance over to the following month, these are the ideal cards.
College student cards: Young people are just starting out with credit building, so these cards get marketed towards college students and can help with the process. They’re easier to get approved for, but you’ll still need to meet qualifications beyond being a student to receive an approval.
Small business cards: Business owners and entrepreneurs often need to make purchases with credit, and these cards offer perks that are specifically geared towards business categories.
Cards for building credit: Whether you have no credit or bad credit, these cards can help you repair or build your credit score when you use them responsibly and make payments on time. They’re easier to receive an approval for, but they sometimes come with high interest rates or deposits.
How Credit Card Companies Work
In order to understand how credit card companies work, it’s helpful to know that they’re more than just companies. Each card company works within a network, and, sometimes, they’re partnered with another brand.
Credit card issuers: A credit card company is the card issuer. This can be a bank or financial institution that maintains your account. For example, Wells Fargo, Chase and Capital One are all card issuers.
The network: On every credit card, you’ll see names like Visa, Mastercard, American Express or Discover. These are basically the go-between companies that manage the transaction.
Co-brand partners: In some cases, cards have branded partners. An example would be an airline, hotel or store credit card.
Let’s look at an example using one of the top cards from our Travel category, the Citi Premier® Card. Citi Bank is the card issuer, using the Mastercard network and doesn’t have a co-brand partner. Then, there are cards like the Hilton Honors American Express Card, where American Express is the card issuer and the network, and Hilton Hotels is the co-brand partner.
Top Credit Card Companies
There are quite a few credit card companies out there, but which one is the best? J.D. Power does a regular study to see which one is the best.
Here are the rankings of the top 10 companies from the 2022 J.D Power U.S. Credit Card Satisfaction Study based on a 1,000-point scale:
American Express (848 points)
Discover (841 points)
Bank of America (818 points)
Segment Average (814 points)
Chase (813 points)
Capital One (812)
Citi (808)
Barclays (797)
Wells Fargo (797)
U.S. Bank (791)
Remember, what’s considered “the best” is subjective, so you may want to do additional research to see which company is right for you. Some may have benefits that suit your needs and spending habits, or you may find it better to get a card through your current bank.
How to Choose the Card That’s Right for You
There’s a lot to consider when choosing the right credit card, so we’ve listed some of the primary features of various cards to help you make the best for you. It’s also helpful to remember that by improving your credit score, you’ll have more options for which credit card companies will approve your application.
Annual Fees
Many cards come with no annual fee, but the ones that do often offer some additional perks and benefits. You’ll need to see if the fee makes sense based on what you’ll use the card for.
A great example is when it comes to travel credit cards. These may come with a fee, but you might save more than enough due to the rewards you gain in comparison to the annual fee.
Other Fees
Different cards come with different fees, and they’re not always advertised front and center when you’re applying for a credit card. You’ll often need to go looking on the application page for additional information to find out which fees you’ll pay as you use your card.
Some of the most common fees include:
Balance transfer fee: A fee for transferring debt from one card to another, which is often a percentage of the amount transferred.
Foreign transaction fee: When you’re out of the country, many cards charge up to 3% for using your card while traveling abroad.
Cash advance fee: Some credit cards allow you to use them like an ATM card for a cash advance, but these come with high interest rates as well as a fee.
Late fees: Credit cards usually have a grace period for making your payments, but these may also come with a late fee.
Learn more: How much does one late payment affect credit scores?
Introductory Rates
Credit card companies make money by charging interest, but many have promotional offers where you’ll receive low interest on purchases for a certain amount of time. Some are as low as 0% interest.
Regular Rates
Regular rates, also called “ongoing rates,” are the interest rates you pay once the introductory period is over. You can find this rate in the terms and conditions on the application, so you can use it to compare it to other cards.
Rewards
We’ve gone over the various types of rewards, such as flat-rate, tiered and points. This is where comparing cards gets specific to your lifestyle. If you travel a lot, a card with travel rewards may be right for you, but if you don’t, you may want to look at cards that give you cash back at places where you shop. You may also get a sign-up bonus with some credit cards that come as cash back rewards or points.
Perks
In addition to rewards, there are sometimes additional perks like cell phone insurance, identity theft security, rental car coverage and more.
How to Get a Credit Card in Six Steps
Now that you have all the knowledge you need to choose the right card, we’re going to put it all together in six simple steps:
Step 1: Check your credit score to know what types of cards you can apply for.
Step 2: Research various cards that sound like they might be the right ones for you
Step 3: Narrow down your options so you don’t apply for too many cards. Remember, each application may trigger a hard inquiry on your credit report, which can temporarily drop your credit score.
Step 4: Apply for the card through the card issuer’s website.
Step 5: Wait for a decision.
Step 6: If you’re approved, you should receive your card within 10 business days, and then you can start using the card for purchases once the card is activated.
FAQ
The following are some additional questions people have about finding the best credit cards.
What’s the Best Credit Card?
There’s no single best credit card. The card that’s the “best” will vary from person to person based on their needs, credit score and lifestyle.
What’s the Best Credit Card Company?
According to J.D. Power’s 2022 survey, American Express is the best credit card company. This is based on criteria like customer satisfaction based on a specific sample size, so some people may prefer a different card issuer.
When is it Time to Get a New Credit Card?
Here are a few reasons you may want to get a new credit card:
To increase your credit limit
To increase your credit utilization ratio
To accommodate a lifestyle change like traveling more often
Improve Your Odds of Getting the Best Card
To get the best credit cards and have endless options, improving your credit score should be your top priority. The best credit cards with the most rewards and best perks typically look for applicants with a score of 690 or higher—falling within the “good” to “excellent” range.
Credit.com has a wide range of services like our ExtraCredit program, which can help you learn more about credit and may lead to better credit health. If you’re unsure of your credit score, get your credit score for free here.
Inside: Do you want to know the legit ways on how to make 200 dollars fast? This guide will show you how to start working on fast money ideas. With tips on side hustles, online trading, and more, you’ll be able to build up a healthy bank account in no time.
Do you want to know the different ways to make 200 dollars in your leisure time? I bet you do! We all would like extra money in our pockets.
In an era of digitization, earning an extra $200 in your spare time has become more accessible.
Various online platforms offer numerous possibilities to gain this amount swiftly without any major investments or specialized skills. Utilizing these platforms can not only help you reach your financial goal but also provide you with an enjoyable experience.
Let’s delve into the uncomplicated and quick ways to make 200 dollars fast.
This post may contain affiliate links, which helps us to continue providing relevant content and we receive a small commission at no cost to you. As an Amazon Associate, I earn from qualifying purchases. Please read the full disclosure here.
Best Ways to Make Money 200 Dollars Fast
Discover the best ways to earn 200 dollars quickly by enlisting and acquiring the necessary skills.
You don’t even need to start a business or learn new skills virtually if you need the following legit ways to make $200 fast.
Just to note, you will find many of these ideas to be similar to how to make 300 dollars fast.
1. Sell Things You No Longer Need
Want to declutter and make some quick cash, to the tune of 200 dollars?
Start selling your no-longer-needed items and hit your goal. This method perfectly fits for minimalists looking to clear out space, or parents whose kids frequently outgrow their clothes and toys.
For instance, selling gently used toys or clothes could net you $200 in no time. Who knew making money could be as easy as cleaning up?
Even better turn this into a money-making business by flipping items for a living.
2. Sell gift cards
Struggling to add cash to your wallet? Turn those neglected gift cards lounging in your drawers into quick money.
Convert idle (Gift Cards) money to tangible cash by listing and selling on sites like CardCash at a discounted rate.
Another option is to trade your gift cards (you won’t use them) into something you want (like Apple or Amazon). So, weigh your options wisely.
In fact, you can read my CardCash review on my personal experience trading in gift cards.
3. Take on freelance jobs
Let’s start harnessing our skills and take on freelancing jobs online. Freelancing offers a flexible and income-generating platform, perfect for anyone looking to make a quick buck.
It is an effective income hustle, proven by data-driven facts. Best yet, it’s not exclusive to professionals alone. As a beginner, freelance gigs can offer an excellent starting point.
To get started, build a solid profile on a freelance platform that best suits your skills. Offer your virtual skills by getting jobs done in freelancing and experience good compensation for your comfort zone through this job.
4. Get Paid to Travel by Housesitting
Immerse yourself in a world of four-legged friends, greenery, and cozy, well-furnished homes while your wallet gets a welcomed cash addition.
Housesitting is not just about watching homes; it includes pet sitting and dog walking. All you need to do is join such platforms at no cost, set your rates and hours, and voila, you’re earning money while sleeping.
Essentially make money in your leisure time while enjoying the companionship of adorable pets. Who knew earning extra money could indeed entail wagging tails and furry hugs by signing up with Trusted Housesitters?
5. Rent Out Your Spare Space
Do you have spare space gathering dust? Turn it into a $200 goldmine!
Rent your unused closet, driveway, or extra room and have a quick injection of cash. Websites like Neighbor and VRBO are ideal platforms where you can list and rent out these spaces.
Start by exploring the listings in your area, identify the market range, and list your space accordingly. The extra income is just a few clicks away.
Best suited for property owners with underutilized spaces, this idea can serve as a consistent source of income and isn’t just a one-time fix.
6. Participate in Focus Groups
Get ready to voice your opinion and earn 200 dollars instantly!
Focus groups can be your golden ticket to making a quick $200. From my personal experience, they are organized discussions run by companies eager to pay for consumer insights.
Follow these steps and you could be cashing in:
Start by signing up and participating in a focus group that typically involves finding a suitable event in your area.
Involve yourself with popular websites like Bestmark.
Once you start searching for focus groups, you are likely to be targeted with sponsored ads on Facebook that match up to your opportunities.
By participating in discussions, I have earned a range from $50 to over $200.
7. Babysitting is Great Money
Looking for a quick way to pad your wallet? Babysitting is the golden ticket.
This gig is ideal for teenagers, college students, or anyone with some free evenings or weekends who enjoys hanging out with kids and can tolerate the occasional tantrum.
Start marketing your talent by creating a profile on care portals like Sittercity. Having a certificate in CPR can increase your profile and give assurance to the parent looking for a babysitter.
Remember to start with your personal network. Friends, family, and neighbors are a great way to kickstart your babysitting journey. With a bit of effort, you could be earning in less than 24 hours.
8. Make Videos
Are you passionate about making your own video or editing someone’s video to earn an incredible 200-dollar quickly? Jumpstart your day by hitting each click on your computer and adding sound effects on various kinds of videos on any social media.
You can also monetize your own videos by becoming a YouTube vlogger content creator and signing up for the YouTube Partner Program.
With an incredible shift to a remote life, you can now instantly earn from making your own videos through ad sponsorship, brand affiliation, and paid subscription on any application.
9. Get a Side Hustle
Engage yourself in a side gig, a savvy way to rake in cash promptly. Side hustles harmonize best with go-getters seeking financial flexibility or pursuing dreams outside the 9-to-5 grind.
Kickstart your hustle journey with free webinars or training. These platforms provide insights into key strategies and the nitty-gritty of the field.
Get cracking now to transform your monetizing dreams into reality!
Very popular are these side hustles for men. Or especially these side hustles for college students!
10. Online trading with Stocks and Options
Trading stocks and options emerge as a financial adrenaline rush, providing a swift track to earning money. You can convert spare moments into potential cash gains with just a few clicks.
Expert tips include starting with research, practicing with a simulation trading account, and diversifying your portfolio to mitigate risks.
The journey to online trading success begins with educating yourself. You must participate in a free investing webinar to undergo training to grasp trading basics, understand market trends, and form your strategy.
Check out how I learned to trade stocks and options with this Trade and Travel review.
Trade & Travel
Learn to trade stocks with confidence.
Whether you want to:
Retire in peace without financial anxiety
Pay your bills without taking on a side hustle
Quit your 9-5 and do what you love
Or just make more than your current income….
Making $1,000 every.single.day is NOT a pie-in-the-sky goal.
It’s been done over and over again, and the 30,000 students that Teri has helped to be financially independent and fulfill their financial dreams are my witnesses…
11. Take Up a Part-Time Job
Eager to fill your pockets a bit more, huh? Part-time jobs are your key to fast cash without compromising your ‘me-time’.
A part-time job supplements your primary income, leaving your piggy bank a bit heavier. Where you get to choose the timing that fits around your primary commitments.
Honestly, some of the best part-time jobs are actually low-stress jobs after retirement. You don’t need to wait for extra money. So, go get that financial freedom and earn more than just the minimum.
12. Yard Sale
Hosting a yard sale is a nonchalant trick to amass cash swiftly. It’s your winning lottery ticket staring at you from your cluttered garage floor.
Kick-off by hosting it on Friday or Saturday, when shopping spirits fly high! If your neighborhood or city has a date set for a community garage sale or jackpot, you’ll be swimming in extra traffic.
Don’t hesitate to unleash your inner salesperson, but remember, no rule binds you to wait for an event to rake in cash.
Remember, yard sales are your fast lane to quick money, and with these tips, you’re ready to speed!
13. Make Money with Your Collectibles
Turn your old favorite collection of Pokemon cards or Beanie Babies into a treasure chest waiting to be unlocked.
This money-making method is perfect for those who have carefully amassed certain collectibles over time. Sign up for eBay now and enlist your collectibles, antiques, and merch items to earn from it.
Want to kickstart your financial journey with collectibles? Find the most popular items to flip as well as insights on what to look for.
14. Collect and sell items from the trash
It’s time to transform your everyday trash into a hefty stash of cash! Collecting recyclable trash can be turned into a worthwhile moneymaker.
Start by saving cans, bottles, or scrap metal that you’d usually throw away. Then, locate a local recycling center that’s willing to pay for these items – the prices may surprise you!
This method is great for anyone willing to invest a little time and energy, particularly those who are environmentally conscious and eager to declutter. Perfect job for those who are frugal green.
Think about it, that old toaster might just be your next treasure trove! You may even find some highly valuable items in the trash to flip!
15. Sell Used Clothing
Selling used clothing is a clever and straightforward way to turn spare time into real cash.
Remember, a vibrant description for your clothes will attract buyers, so play up any unique or high-quality aspects of your garments.
Fashion enthusiasts want to earn a quick buck on the side. Begin by taking a charming picture of your clothes and posting it to Facebook Marketplace and ThredUp.
16. Do Social Media Marketing
Welcome to the era of making money by simply being social media savvy. Transform your digital skills into quick cash through Social Media Marketing.
Explore the digital world that awaits with all of the social media platforms. You can create engaging content while responding to the readers.
Take your skills to the next level, consider enriching your knowledge via a free webinar or online training.
This is an easy job that pays more than $25 an hour.
17. Sell Printables on Etsy
Do you love making creative paintings and printable designs? Imagine, your beautifully designed chore chart or a fascinating word puzzle bringing joy to scores of customers.
You can dive into this free training to jumpstart your side hustle. This method is a sure-shot hit for you.
Find out which digital products to sell on Etsy.
18. Invest in Cryptocurrencies
Do you have extra money in savings in your account and don’t know where to invest it?
Since 2008, cryptocurrency has taken the world by storm. Known for its decentralizing nature and secured by cryptography, it’s no regular dough.
Turn the tides in your favor and download an investment app to make your $200 grow faster. Consider taking a free webinar or training for a crash course.
You see, investing in cryptocurrencies is not a heavy-duty task. With the right smarts and patience, you can ride the next crypto wave!
19. Get Paid to Click
Among the numerous ways to earn an extra $200, getting paid to click is a simple and fun method.
Websites provide users with the opportunity to earn money through ‘pay to click’ surveys or rewarding viewers for ad consumption. Additionally, apps such as Survey Junkie and Swagbucks allow you to earn money by taking surveys, participating in focus groups, or simply navigating the web.
Each user generally earns from a few cents to a dollar per click. With patience and consistent effort, you can gradually accumulate your earnings to reach your $200 target.
Here are the top legit survey platforms:
20. Check Out Cashback Apps
Earn a cashback every time you shop at your favorite retail store or online.
Start off by signing up for apps like Dosh, Fetch, Rakuten, and Ibotta which offer bonuses just for signing up.
Lastly, apps like Acorns or CoinOut provide cash back on everyday shopping, even rounding up your purchases to add a bit more to your savings.
21. Do Odd Jobs as a TaskRabbit
Wanna earn cash quickly? Sign up and do freelance labor with TaskRabbit.
This user-friendly job marketplace connects people in need of task assistance with capable individuals willing to complete the tasks for a fee. It offers a diverse array of tasks, from assembling furniture and helping with moves to painting, yard work, and minor home repairs.
Just by performing various tasks, such as events staffing, running errands, or crafting. With the average TaskRabbit making double the minimum wage, this might be the gig for you.
TaskRabbit
Find local jobs that fit your skills and schedule.
With TaskRabbit, you have the freedom and support to be your own boss.
Plus set your own rates!
Get Started
22. Earn Money with Your Knowledge
Using your personal set of skills is a major advantage in freelancing platforms such as Fiverr, Upwork, and Freelancer.com.
Be it graphic design, content creation, SEO mastery, or even web development, you can monetize these proficiencies directly from your home. Data shows a significant growth in the gig economy over the past decade, suggesting a flourishing potential for remote work and online income generation.
Remember, your vast knowledge pool is your strength here. So, focus on what you’re best at, and let the money flow in.
Indeed, by effectively marketing your skills, pulling in a sum over $200 within a few hours is achievable. Remember to value your work appropriately and not devalue your aptitude just to land a job.
23. Tutoring
Online tutoring provides plenty of diverse opportunities in various subjects beyond just English. You can choose to specialize in specific topics and decide to tutor students of different age groups – from young children to college students.
Platforms like VIPKID and Magic Ears allow qualified tutors to offer virtual classes, specifically in the English curriculum for kids aged 4-12 years.
Tutors are usually compensated with payments ranging from $7 – $9 per class or up to $25 or more per hour. Also, you can increase your rate once you gain experience and build a reputation as a tutor. With in-person tutoring, you can expect to earn $20 an hour or more.
24. Petsitting
Looking for a quick way to make $200 fast? If you’re an animal lover, offering pet-sitting services isn’t just enjoyable, but also quite profitable.
Simply sign up with platforms like Rover, you can possibly get paid two days after service completion and you can always set your own rates. Just by walking the dog from house sitting.
Fun fact: Dog sitters often earn up to $50 a day. This is flexible and enjoyable work that could definitely help you reach your $200 target quicker than you’d imagine!
Rover
Get paid to play with pets!
Rover makes it easy and promotes you to the nation’s largest network of pet owners.
Earn money doing something you love.
Become a Sitter
25. Collect Scrap Metals and Junk
One man’s trash is indeed another man’s treasure.
Thinking of ways to earn quick cash? Consider collecting scrap metals and junk. This simple but profitable task can be done by anyone, with no particular set of skills necessary. All you need are keen eyes, a truck, and, admittedly, a little bit of strength to do the following:
Identify Metals: Start by identifying the most valuable metals – brass, copper, and aluminum.
Collect: Gather your metals, either from your home or by browsing local dumps. Remember, one man’s trash can be another man’s treasure.
Sell: Locate a local scrapyard and sell your haul at a fair price.
Keep in mind that patience is key; you might start with just $100 a day, but with experience, this can increase to a lucrative $500 a day!
26. Cash Out Your Coins
Are you sitting on a pile of coins? Maybe it’s time to cash them out. Here’s how:
Gather all your change together. Check under the sofa cushions, in car cup holders, and even in the bottom of your bag.
Take your coins to a coin-counting machine. These can be found at many grocery and department stores as well as your local bank.
Deposit these coins in a savings bank.
Expert Tip: Many banks provide free coin-counting services to their customers. Save on the counting machine charges by using these instead.
27. Run A Dropshipping Business
Dropshipping is a retail fulfillment method where you sell products without ever handling the inventory. This side hustle could potentially make you a quick $200 if executed strategically. Ready to dive in?
To level up, consider enrolling in free webinars on sites like Skillshare or free dropshipping training programs like Oberlo 101. This method is most suitable for those game to learn the ins and outs of online retail business and are ready to deal with customer interactions.
Remember, selling high-demand items will turn a quicker profit!
28. Do Micro Tasks
Looking to make cash fast? Turn your spare time into cash by capitalizing on microtask websites and get paid for completing simple jobs!
This method is particularly effective for those with meticulous attention to detail and those who can afford to spend some time on basic tasks such as data entry, data verification, information sorting, and transcription.
Microtasking might not be a golden goose, but it sure can help you accrue $200 surprisingly fast. The beauty of this hustle is in its simplicity, making easy money with minimal to no investment.
29. Find Sign-Up Bonuses
Did you know that many banks and credit companies offer sign-up bonuses as a strategy for attracting new clients?
For instance, some banking promotions in the United States can offer bonuses of up to $300 in total value when you sign up for a new account or credit card. Also, there are several credit cards that provide bonuses ranging from $500 to $800 or more, simply for registering and spending a defined amount within a specific timeframe.
Some cards, such as Chase Sapphire Preferred, offer lucrative rewards like a $1,000 bonus after a spend of $4,000 in the first 3 months.
It’s definitely rewarding to explore these possibilities to supplement your income, but it’s crucial to maintain a good credit score and commit to paying off your balance monthly to avoid any interest charges.
30. Cash Advances
Cash advances offer a rapid solution, but it’s essential to use them wisely.
Basically, a Cash advance is an advance on your next paycheck, and yes, it’s a viable way to get your hands on some quick cash. Also, some budget apps like Chime offer this service automatically.
Keep in mind, though, it’s an advance and not additional income. So, plan your expenses wisely and make it count!
FAQ
If you’re on a quest to make $200 as fast as possible, we’ve got your back. From selling items you own to completing quick gigs online, there is a plethora of opportunities out there for everyone.
For example, suppose you’re handy at a skill – be it haircuts, car repairs, pet sitting, or painting. You can start by offering your services to people in your neighborhood.
Or, if you’re the digital savvy type, consider selling items you no longer need on online platforms such as Facebook Marketplace or Craigslist. You’d be surprised at how quickly you can make money from items collecting dust in your home.
Ultimately, make sure you choose a fast money-making plan that aligns with your skills, interests, and resources. Go forth and rake in that cash.
If you need to make $200 today, you have a range of options at your disposal.
You can try different online strategies, including participating in online surveys, offering your skills on freelance platforms, or even reselling items online. While many people will sell the idea of a blog to make money, that is not a way to make money today.
Remember, the key is to zone in on tasks that require minimal effort but offer swift returns; these could include grandma sitting, dog walking, or even participating in online offers and promotions.
To kick-start your financial venture, locate valuable items in your home that you no longer need. Your dusty old guitar or that once-loved designer handbag could do the trick. Sell these items on widely used platforms such as Craigslist or Facebook Marketplace for instant cash.
Also, in the digital age, skills are an asset. Offering your skills on platforms like Fiverrcan turn your talents into quick cash. Don’t underestimate the power of quick gigs!
Tapping into the world of free sign-up bonuses can also fill your wallet quickly. Or even participating in a paid focus group!
If you need to make $200 quickly, there are several tried and tested methods. You could start by driving for Uber or Lyft for the evening during a concert.
My preferred method is trading options in the stock market. While this one is a skill, I developed over time. It has proved to be a tried and true method for me to make $200 in a few hours.
Time to Get 200 Dollars Instantly
By reading this article, you have learned and discovered the most effective ways to earn $200 quickly.
In order to have quick success, here are tips to help you out:
Sign up for a complimentary training or webinar that focuses on effective and proven methods of earning money swiftly.
Learning from other’s experiences can certainly save you some trial and error.
Ensure these training modules offer you practical skills and insights rather than just theory. Real-world applications of these strategies are what will help you rake in some quick cash.
Remember, your motivation and dedication are as important as the information and tools you acquire.
If you are looking to make a little bit more, check out how to make 500 dollars fast. Or even how to make 2000 fast!
Know someone else that needs this, too? Then, please share!!
The Possible Card — issued by Coastal Community Bank, in partnership with Possible Finance — began slowly rolling out to the public in April 2023. As of this writing, the card is available in most states, with the exception of Hawaii, Nevada and Maryland.
While still in its early stages, the Possible Card won’t help propel your credit journey forward because it currently doesn’t report payments to major credit bureaus like TransUnion, Equifax and Experian. Even once it begins reporting payments, it still won’t be your most cost-effective option. Possible Finance touts “peace of mind” that you won’t be charged interest, but there’s a big caveat: Instead of an annual percentage rate, the card has a monthly fee.
Monthly fees on credit cards are a hot trend now, especially among young financial technology companies (fintechs). But depending on the balance you’re carrying, that fee can be more expensive than interest charges you’d find on a traditional credit card.
The Possible Card does offer predictability in terms of your monthly payment, and it also allows you to bypass a credit check and security deposit. But unlike a security deposit, which is refundable, those monthly fees won’t be. Plenty of other credit cards can jump-start your credit-building goals at a lower cost.
Here’s what you need to know about the Possible Card.
🤓Nerdy Tip
While any credit card’s rewards, benefits and fee structure can be adjusted at any time, new cards from startup financial technology companies are particularly prone to significant changes as they find their place in the market. Keep that in mind as you research your credit card options.
1. The monthly fee adds up
The monthly fee to hold the Possible Card is either:
$8 per month ($96 annually) for a $400 credit limit, or
$16 per month ($192 annually) for an $800 credit limit.
That makes the Possible Card more expensive than similar newcomers in its class. For example:
The Tomo Credit Card (currently waitlisted as of September 2023) charges $2.99 per month. There’s no credit check, upfront deposit or APR.
The Pesto Mastercard costs $3.33 a month, and while a deposit is required, it can be an asset instead of cash.
In fact, for no monthly or annual fee at all, you could consider cards like the Chime Credit Builder Visa® Credit Card, which lets you set your own security deposit, or the Grow Credit Mastercard, which has a free membership tier. Neither card carries an APR, neither conducts a credit check, and all of these aforementioned cards report your payments to credit bureaus.
Or, you could fare even better with a traditional secured credit card. Yes, you’ll have to come up with a one-time security deposit upfront, but for many of the best secured credit cards, you need a minimum of just $200, or nearly what you’d pay — every year and nonrefundable — for the Possible Card’s higher-limit version. Plus, many traditional secured cards come with upgrade paths to better products. The Possible Card does not, nor do many newer fintech-backed cards, for that matter.
The Discover it® Secured Credit Card is a good example of the kind of features to look for in a starter card. It requires a minimum security deposit of $200, but it has a $0 annual fee and earns rewards. It reports payments to all three major credit bureaus, and Discover begins automatic reviews starting at seven months to see whether you qualify to upgrade to an unsecured card and get your deposit back.
🤓Nerdy Tip
If you’re approved for the Possible Card, you can immediately start using the virtual card if you enroll in autopay. Otherwise, you’ll have to wait for the physical card to arrive in the mail.
2. There’s no credit check
The Possible Card doesn’t require a credit check and instead relies on a cash-flow-based underwriting algorithm to determine whether you qualify. But that underwriting process requires you to link an eligible account through a third party called Plaid.
This practice of skipping a credit check in exchange for linking a bank account has become a fairly common practice for certain credit cards, especially newcomers backed by fintechs. But there are better credit cards that don’t require a credit check.
The previously mentioned Chime Credit Builder Visa® Credit Card, for instance, requires opening a Chime Spending Account, but it doesn’t charge any fees or interest. It’s a secured credit card with a flexible deposit. The amount of money that you move from the spending account to the Credit Builder secured account is the amount you have available to spend.
3. No APR or late fees apply, but don’t be fooled
Some credit cards that charge monthly fees instead of interest market the idea of being “predictable,” for budgeting purposes. Possible Finance claims on its website that the monthly fee is cheaper than the charges on a traditional credit card, but that’s misleading. For most credit cards, interest charges don’t apply at all if you pay off the balance in full every month.
With the Possible Card, you’ll owe the monthly fee whether you carry a balance or not.
Depending on the size of your balance, that monthly fee could cost more than the interest charged on a traditional credit card, especially in cases where the card’s credit limit is relatively low. You can use the sliding scales below to illustrate this:
For context, the average APR for credit cards assessed interest in May 2023 was 22.16%, according to Federal Reserve data. If you have less-than-ideal credit, that percentage may be higher.
Trying to get approved for a card?
Create a NerdWallet account for insight on your credit score and personalized recommendations for the right card for you.
4. You can carry a balance over a short term
Unlike some credit cards in its class, the Possible Card allows you to revolve a balance, up to a limit. The card’s Pay Over Time option lets you pay off the balance over four installments if you schedule automatic payments and enroll in the app. There’s no additional charge to use this option as long as the account has a balance of at least $50 and no pending payments.
The downside of the Pay Over Time feature is that the card will be locked and cannot be used for new purchases or automatic recurring expenses until the installment loan is paid off. But the benefit is that this guardrail can prevent you from taking on more debt than you can handle.
If you’re using your Possible Card to make automatic recurring payments for streaming services or other expenses, make sure to change your payment method when you opt in to the Pay Over Time feature.
5. It doesn’t report payments to credit bureaus
The Possible Card is still in its infancy and does not report payments to the credit bureaus as of this writing. The company shared in an email that it has plans to start reporting payments to one bureau in the fourth quarter of 2023.
When your goal is to build credit with a credit card, reporting payments to the three major credit bureaus is a must-have feature. Ideally, you want your credit history to be recorded by all of them so that future lenders can access that information easily.
See more from Chime
Chime says the following:
The Chime Credit Builder Visa® Card is issued by Stride Bank, N.A., Member FDIC, pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa credit cards are accepted.
To apply for Credit Builder, you must have received a single qualifying direct deposit of $200 or more to your Checking Account. The qualifying direct deposit must be from your employer, payroll provider, gig economy payer, or benefits payer by Automated Clearing House (ACH) deposit OR Original Credit Transaction (OCT). Bank ACH transfers, Pay Anyone transfers, verification or trial deposits from financial institutions, peer to peer transfers from services such as PayPal, Cash App, or Venmo, mobile check deposits, cash loads or deposits, one-time direct deposits, such as tax refunds and other similar transactions, and any deposit to which Chime deems to not be a qualifying direct deposit are not qualifying direct deposits.
On-time payment history may have a positive impact on your credit score. Late payment may negatively impact your credit score. Chime will report your activities to Transunion®, Experian®, and Equifax®. Impact on your credit may vary, as Credit scores are independently determined by credit bureaus based on a number of factors including the financial decisions you make with other financial services organizations.
Money added to Credit Builder will be held in a secured account as collateral for your Credit Builder Visa card, which means you can spend up to this amount on your card. This is money you can use to pay off your charges at the end of every month.
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If you’ve ever had the privilege to experience a taste of la dolce vita in Italy, then you’ll understand the dilemma I am facing; I want to shop for everything. The homes and hotels of Italian tastemakers have well and truly stolen my heart, so I set myself a little challenge to narrow down these trends to just five – five key home decor trends that I would slowly incorporate into my own home.
You may already be familiar with, or even own, a few of these Italian-influenced designs. See which ones are having a moment below – at least for me – and get inspiration for how to decorate with them in your own space.
5 Italian decor trends I adore
decorating with neutrals. One important aspect to consider when decorating with a subtle or muted color palette is to bring in as much texture as possible as it creates interest and layers – important factors when strong room colors are out of the picture.
Texture in interior design is crucial if you want to create a modern rustic room that is also contemporary yet cozy. Quite simply, without texture, your space will fall flat. It’s vital to look at the room as a whole and bring an area together with mixed materials for energy and warmth.
‘Texture can determine how a modern rustic room looks and feels, so invest in plenty of raw materials alongside natural reclaimed wood, linen, wool – and elements of greenery,’ says homeowner Lauren Meichtry, founder of Elsie Home.
3. Kitchens with character
Decorative kitchens, with plenty of personality, are rife in Italy. For many traditional Italian families, the kitchen is truly the heart and soul of the home.
No matter the era or status of the home, the kitchen was first and foremost a functional space. It is the engine room of the home, the space that keeps everything running smoothly. It is somewhere that meals are prepared and sometimes eaten, as well as being where the essential household tasks are carried out. However, this is only part of its role – it is also the hub of the house.
Today, the kitchen is a space to commune and spend time with family and friends. The duality of its role means that it is important that the kitchen not only meets your practical needs but is also beautifully decorated, offering a warm welcome to anyone who passes its threshold.
This delightfully bold and bright kitchen in the heart of Florence’s historical center is a visual feast for the senses. Designed by Officine Gullo, the colors have been chosen to harmoniously chime with the architecture and furnishings that define the room.
‘Colourful kitchen ideas have been enjoying rather a renaissance, and we’re seeing brighter colors on walls, cabinets, and even ceilings,’ says Emma Bulmer, head color consultant at Edward Bulmer Natural Paint. ‘The colors and color combinations being used are also becoming more creative and confident.’
4. Patterned tiles
Often featuring a myriad of intricate patterns, original patterned tiles are highly sought after. Globally, Italian manufacturing and innovation dominate the design industry, and tiles are no exception.
More than any other floor and wallcovering, tiles have undergone a renaissance, becoming a design favorite whether used in a new build or to remodel an existing home. While there are plenty of choices for popular neutral tones, the big tile trend is for tiles that feature the dazzling colors and patterns of traditional Moorish and Italian tiles.
As reclaimed tiles come from all sorts of properties, they often have a unique story attached to them. ‘We source a lot of tiles from junkyards – a good place to start if you only need a few replacement tiles to mix and match,’ says Andy Triplow from The Vintage Floor Tile Company. ‘However, reclamation companies often only stock a handful of tiles and are unable to offer enough for a complete floor, which is why it is good to start collecting early.’
5. Lighting with purpose
No one does innovative and contemporary design quite like some of the world’s best Italian designers. Lighting with purpose, be it sculptural or to highlight a focal point, is a look that the Italians have perfected.
With their delicate interplay between form and function, all rooms benefit from a well-executed decorative lighting scheme. During my time away, I was taken aback by the creativity on display when it came to choosing light sources.
Lighting isn’t just about the light. There are many design-led options for your home and backyard, from decorative pendants to wall lights with an extendable arm. Remember that warm white light will create an inviting glow.
‘Homeowners are seeking unique pieces for their homes that create maximum impact,’ says Ian Cameron, creative director at Cameron Design House. ‘From unusual shapes to innovative materials, there is an increased desire from customers looking to be more daring in their design choices. There will be a demand for unusual and eye-catching light pieces that challenge every day and are show-stopping art forms in themselves.’
Shop the Italian-style decor edit
Achieving the Italian dream in your home is easier than you think. I’ve selected my favorite buys for you to shop below. They are already in my basket…
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!
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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?
If you’ve ever had to repair your credit, you know how much of a struggle removing inaccuracies from your reports can be. The bad news is that in many cases, after removing negative accounts from your credit history you may only see a slight increase or maybe even no change at all to your credit score.
Why? Because you need a healthy credit profile to have a healthy credit score. If all you have is negative items on your credit reports and you’ve removed them all, you might not have much of a report left to build a credit score with.
One of the easiest ways to build a good credit score is to improve your credit utilization ratio. You can do this by expanding the total amount of credit available to you by applying for a new credit card.
If you’re currently working with a low credit score right now, and are worried about being approved for a credit card, we’ve got you covered. Here’s our top 4 easy approval cards.
Best Overall Card: Chime
Secured Chime Credit Builder Visa® Credit Card
Qualifying direct deposit of $200 or more. Checking account required.
No annual fee. No minimum* security deposit. No credit check to appy
*Money added to Credit Builder will be held in a secured account as collateral for your Credit Builder Visa card, which means you can spend up to this amount on your card. This is money you can use to pay off your charges at the end of every month.
Build credit history with your own money on everyday purchases
View and track your FICO® Score right in the Chime app. FICO Scores are used by 90% of top lenders*
Chime is a financial technology company, not a bank. Banking services provided by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC. The Chime Credit Builder Visa® Card is issued by Stride Bank, N.A., Member FDIC, pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa credit cards are accepted.
If you’re ready to start building your credit history, we suggest Chime as a simple, easy way to start. Unlike most other secured cards, Chime does not require a minimum security deposit to get started.*
So if you don’t have a large chunk of cash to put down up front, you can put down however much you’re able to afford. That amount becomes your credit limit, so you can start building up your limit over time.
Even better – they also don’t have a minimum credit score required to get started! In fact, they don’t run a credit check at all, so you don’t have to worry about a hard credit pull popping up on your report.
*Note: To apply for Credit Builder, you must have received a single qualifying direct deposit of $200 or more to your Checking Account.
Other Recommended Secured Credit Cards
Most secured credit cards require the user to put down a cash deposit to secure their line of credit, which makes them a great option for people looking to build up their credit with on-time payments. Here are a few other secured cards we’d recommend.
Combined credit builder account and secured card products to help you build credit and save* money (minus interest and fees) No credit check.
No credit check. No credit history required.
Start with a credit builder account that reports to all 3 credit bureaus. Each on-time monthly payment builds credit history and savings. Choose the plan that works for you.
Make at least 3 monthly payments on time, have $100 or more in savings progress in your account, and be in good standing* You’ll automatically be eligible for the Self Visa® Credit Card, without a credit check.
Your savings progress from your Credit Builder Account acts as your refundable security deposit.
The Self Visa® Credit Card is accepted at millions of locations in the U.S.
Stay on track with credit utilization monitoring, auto pay, account reminders, a mobile app, and dedicated customer support.
*Sample Product for Credit Builder Account: $48 monthly payment, 12 month term with a $9 admin fee at a 15.92% Annual Percentage Rate. Please refer to www.self.inc/pricing for the most recent pricing options.
**Disclaimers, Rates and Fees: https://www.self.inc/card-agreement and https://www.self.inc/terms-of-service
We like the Self – Credit Builder Account + Secured Visa® Credit Card combo because it uses your progress on your credit-builder loan to approve you for a credit card, allowing you to side-step a credit inquiry to qualify for your card.
OpenSky Secured Visa
OpenSky® Secured Visa® Credit Card
No credit check to apply and find out instantly if you are approved
OpenSky gives everyone an opportunity to improve their credit with an 85% average approval rate for the past 5 years
Get considered for a credit line increase after 6 months, with no additional deposit required
You could be eligible for the OpenSky Gold Unsecured Card after as few as 6 months
Reports to all 3 major credit bureaus monthly, unlike a prepaid or debit card. Easy application, apply in less than 5 minutes right from your mobile device
View your FICO® Score through your OpenSky account, an easy way to stay on top of your credit
Nearly half of OpenSky cardholders who make on-time payments improve their FICO score 30+ points in the first 3 months
Your refundable* deposit, as low as $200, becomes your OpenSky Visa credit limit
Offer flexible payment due dates which allow you to choose any available due date that fits your payment schedule
*View the cardholder agreement
We like OpenSky Secured Visa because there is no credit check required to apply, and you can request an extension on your credit line after six months. Unlike most other secured cards, OpenSky also allows you to fund your security deposit in payments, making it even easier to get started.
Best Balance Transfer Card: UNITY® Visa Secured Credit Card – The Comeback Card™
UNITY® Visa Secured Credit Card – The Comeback Card™
Unlike your Prepaid Card, UNITY Visa secured card can help you build your credit. Apply online in less than 5 minutes, and you could be approved today!
No Minimum Credit Score required; low fixed interest rate of 17.99%; Fully refundable FDIC security deposit* required at time of application; if you have a min of $250 to deposit immediately, you can start now!
No application fee or penalty rate
Monthly reporting to all 3 major credit bureaus
24/7 online access to your account
*See the Cardholder Agreement for more details.
We like this card because not only does it report your on-time payments to all three credit bureaus (helping you build up those positive credit signals) but it also offers a promotional rate for balance transfers of 9.95% for six months. Considering how difficult it can be to find a good balance transfer card with an easier application process, we especially recommend this card if your goal is to rearrange your credit card debt.
Building (and Protecting) Your Credit
While your score may not be strong enough to allow you apply for credit cards that offer better cashback or rewards, there are many credit cards in our list above that offer at least some of those same benefits and provide more support for reporting your good credit behavior to the bureaus.
Just as a reminder, payment history can be the heaviest factor when it comes to calculating your credit score. Although you may want to improve your score by applying for a new credit card, make sure that you can avoid any late payments that may hit your reports and jeopardize all your hard work.
Chime Technologies, a real estate tech innovator based in Phoenix, Arizona, has recently integrated ChatGPT functionality into its platform to streamline content creation for real estate marketing and communications. This integration marks a significant step towards enhancing the platform’s generative AI capabilities.
Chime has been using Google’s machine learning algorithm to power its intuitive chatbot AI Assistant for the past five years. With the addition of ChatGPT, Chime aims to boost efficiency and productivity for real estate agents by automating content generation, idea generation, and content editing processes.
The key features of the new ChatGPT functionality include auto-generated content for individual and mass communications via email and text, as well as for marketing communications such as blogs and social media posts. The platform also offers a library of templated, popular prompts, and the flexibility to create bespoke prompts based on specific customer needs.
By integrating ChatGPT, Chime aims to address the time pressures faced by real estate agents in identifying, nurturing, and converting leads. The AI-driven content creation helps agents focus on providing a more personalized and human touch in the real estate process. It ensures that agents can engage their database with relevant and meaningful content, ultimately fueling the pipeline with sales-ready leads.
This content was generated using AI and was edited by HousingWire’s editors.
Have you ever held back from asking a question? Although you really want to know the answer, you might hold back because you are afraid that your question is stupid. But when it comes to personal finances – there is no such thing as a stupid question.
In fact, by holding off on asking simple questions, you could seriously jeopardize your financial future. On Ask A Stupid Question Day, I will share the questions that I thought were too stupid to ask when I started my personal finance journey.
Let’s dive right in!
What’s Ahead:
Ask A Stupid Question Day
Ask A Stupid Question Day is a holiday celebrated on September 28th in the United States. School teachers started the holiday in an effort to encourage students to ask more questions.
Although the holiday is traditionally celebrated in a classroom, you are never too old to ask questions. Asking questions is important for all aspects of life, but it is especially important in building a solid financial future.
No one is simply born with the answers to all the personal finance questions you might have along the way. Instead of guessing, it is important to seek out the answers to personal finance questions. With a little bit of knowledge, you can set yourself up for a bright financial future. Without taking the time to seek out the right answers for your financial situation, you may encounter a bumpy road ahead.
Why there aren’t any stupid questions when it comes to personal finance
When I started my own personal financial journey, I had so many questions that it was intimidating to even start asking. I often worried about whether or not my questions would be seen as silly. But I quickly realized that there is no such thing as a stupid question where finances are concerned. There are even financial advisors, like those found through The Paladin Registry, that specialize in helping you find answers. It is much better to ask the question than let it burn a hole in your brain – and potentially derail your financial future.
You can, and should, take the time to ask any questions that pop into your brain. As you start to approach your finances, you’ll encounter a litany of questions. That’s okay! If you have plenty of questions, that means that you are ready to take responsibility for your finances.
Don’t be afraid to seek out the answers to the money questions that are swirling around in your head. With more information, you will be better prepared to build a worry-free financial future.
Questions that helped me on my personal finance journey
As you first start making decisions that have financial ramifications, you will find that many questions will pop up. You’ll start wondering about things that you had truly never considered before.
I found that asking a series of basic questions over the years has helped me create a relatively secure financial position. I will share a few of the questions that have helped me over the years below.
How to set up a bank account that works with me?
If you are anything like me, then you likely opened up a bank account with a big bank to get you started. It seemed like the simplest option when I was 18 and needed a bank account to accept my direct deposited paychecks. But what I didn’t realize at the time was that the big bank that I had chosen would provide an account experience riddled with fees.
For a while, I simply accepted that fees were just a part of my banking experience. But then, I started to question my logic and look at what other banks had to offer. One financial app that I wish I had known about sooner is Chime®.* The online financial services app offers a completely no fee experience that can come in handy. 2
Chime allows you to manage your money without worrying about any fees along the way. With the help of automatic savings features, real-time alerts, and no minimum balances to hold you back, you’ll be ready to up your savings game in no time.
Instead of working against the endless stream of account fees with a bigger bank, why not look for a bank that won’t stand in the way of you reaching your financial goals?
* Chime is a financial technology company, not a bank. Banking services provided by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC. 2 There’s no fee for the Chime Savings Account. Cash withdrawal and Third-party fees may apply to Chime Checking Accounts. You must have a Chime Checking Account to open a Chime Savings Account.
How can I avoid taking on too much debt?
When you are starting out, then the thought of paying for everything upfront can seem overwhelming. Especially when everything from school tuition to living expenses can be covered with a variety of loans. It can be very tempting to take on loans to cover your expenses. But taking on too much debt early in life can dramatically negatively impact your financial future.
It is no secret that a heavy debt burden can put a damper on your finances for years to come. But how can you avoid taking on too much debt? Consider living as cheaply as possible when you are faced with the option of taking on more debt. Do your best to limit extra expenses if you know that you cannot afford it at the moment.
If you can’t lower your expenses, then consider picking up a side hustle to make ends meet. Or if you are looking to cover educational costs, then seek out scholarships or work-study opportunities to lower your overall costs. If you are able to avoid taking on more debt, your future self will thank you!
How can I save more money?
As you likely know, saving money is important. But you might not know how you can keep more money in your wallet. After all, life can be expensive, and it can be all too easy to feel light on savings!
Luckily, there are many ways to save more money. Although you’ll likely need to get creative, it is likely possible to squirrel away more of your income. As you build your savings, stash them somewhere safe. Specifically, a high yield savings account is one of the best places to store your savings. Not only will you enjoy the protection of FDIC insurance, but also a relatively high return on your savings compared to traditional savings accounts.
One of the best available high yield savings accounts is the CIT Savings Builder. The account provides an APY of 1.00% if you have a balance of $25,000 or deposit $100 each month. See details here. With this account, you won’t need to worry about account fees cutting into your savings. Plus, the incentive of a higher APY will encourage you to build strong saving habits each month.
CIT Bank. Member FDIC.
What is my credit score and why does it matter?
As if the world of personal finance wasn’t confusing enough, you’ll eventually encounter your credit score. The three-digit number can have a big impact on your finances. But what does it even mean?
Your credit score is based on your credit history. Your credit history is a record of financial transactions that provides the details which determine your credit score. Generally, a clean report without any late payments or large outstanding balances will lead to a high credit score. With a high credit score, you can access credit opportunities more easily. For example, you could more easily obtain a mortgage with a low interest rate with a high credit score. On the flip side, a bad credit score could reflect a history of late payments or a high credit utilization rate.
Take some time to better understand how credit works today.
How can I start investing?
As you get your financial bearings, the call to invest money for your future will become stronger. The good news is that it can be fairly easy to get started investing. Even starting with a small amount of money can lead to big long term rewards.
The best place to get started is to seek out an investment platform that will allow you to work towards your goals.
If you want to learn more about the inner workings of building an investment portfolio, Public’s platform is designed to work with you beyond simply choosing your preferences. With Public, you’ll have access to helpful guidance and answers to all of your investment questions. Plus, you’ll enjoy the commission-free trading offered by Public.
Should I buy a house?
As you venture into adulthood, the question of where to live becomes more important every day. The big question is whether you should buy a place or continue renting for now. The answer to this question depends on your situation.
You’ll need to consider your current savings situation and your plans for the future. If you want to leave the area in a year or two, then renting might be easier. But if you are planning to stay for years, then owning a home might be the best economic approach.
Personally, I’ve chosen to buy a home with my husband. But only after asking many questions and listening to both sides of the debate. If you are struggling to determine the best solution, then check out MU30’s rent vs. buy calculator to help you crunch the numbers of this decision.
How can I maintain a budget and still have fun?
As you stare down your long term money goals, it can seem a bit overwhelming at first. After all, how are you supposed to have any fun while attempting to save every last penny? The answer is that you need to determine your spending priorities when creating a budget.
It is completely possible to enjoy your life and have fun while sticking to a budget. Although frugal fun will require some creativity, you can make it happen. But remember that it is important to find a balance between saving and spending. Both are important, so find a way to strike a balance that you can live with.
For me, this means allocating a substantial portion of my budget towards travel spending. But I still sock away a larger portion of my income to reach my long term financial goals. I could meet those goals sooner if I gave up my travel spending habits – but I’m not willing to sacrifice that balance.
A budgeting and savings app like Empower can help with that. Using Empower, I can set spending limits for each category in my budget. As I reach my limit, the app alerts me so that I know to cut back a little.
Best of all, after I tell Empower my savings targets, the app will automatically set a little money aside each week to help me reach my goals. And, if expenses are unusually high, Empower cuts back on what it sends to savings.
*Empower is a financial technology company, not a bank. Banking services provided by nbkc bank, Member FDIC.
Summary
I hope you’ve realized by now that the ‘stupid’ questions I asked about money weren’t stupid at all! As I continued to make decisions about my financial future, a curious mind has helped me seek out the best possible options for my situation.
As you continue making decisions about your personal finances, I strongly encourage you to ask all the questions that pop into your head. After all, it never hurts to ask the question – especially when the answer can help you reach your financial goals. Don’t let anything stand in your way from learning what you want to. Let the knowledge empower you to take charge of your finances and move in the direction you desire!
When it comes to making ends meet, many people are falling a bit short every month. A big part of that has to do with the fact that minimum wage hasn’t kept up with the rate of inflation – in the slightest bit. And because of that, a huge chunk of Americans are finding it harder and harder to bridge the gap.
Due to this fairly wide financial discrepancy, the market for cash advances has soared. In fact, an average of one out of every 50 Americans uses cash advances at least once a year. That’s huge! Especially so when you consider how many fees are normally tacked onto these payday advances.
Because of this ongoing financial crisis, I wanted to find some of the best cash advance apps with minimal to no fees to help you make it to your next payday a bit easier.
What’s Ahead:
Overview of the best cash advance apps
App
Amount you can withdraw
When you can withdraw
Fees
Earnin
$100
Once per pay cycle
Free
Empower
$25 to $250
Once per pay cycle
Subscriptions start at $8 per month
Dave
$100
Once until account is paid in full
$1 per month
Brigit
$250
Once per pay cycle
$10 per month
Chime
Full paycheck
2 days before normal payday with direct deposit
Free
MoneyLion
$250
Once per pay cycle
Free
Varo
Full paycheck
2 days before normal payday
Free
Earnin
Amount you can withdraw – $100.
When can you withdraw – Once per pay cycle.
Fees – Free.
Earnin was the first payroll advance app on the market, so it’s safe to say that it has been around awhile. Which means it has had time to grow and tweak its platform to serve people more effectively.
They are similar to Dave in that they will only allow you to take up to $100 cash advance per pay cycle. And, like Dave, they don’t charge you any fees or interest on this advance. Even though there is no fee for the service, they do have an option for you to add a tip to help keep the app running.
They also offer a few other great features on top of the standard cash advance option. Three of these include:
BalanceShield operates the same way that Dave does in that it will send you an alert when your account balance drops below a certain amount. When this happens they automatically deposit a $100 cash advance into your account to keep your account in the green.
Health Aid is a service to help get your medical bills reduced. You just have to submit a photo of the medical bill within the app and then Earnin will begin negotiating with the company to get your medical bill reduced. You can tip them whatever you feel inclined to once they finish the negotiation. Pretty cool!
Tip Jar is an in-app savings platform so that you can begin saving small amounts at a time towards larger goals.
As if these weren’t already three helpful bonuses, there is one more great addition to the Earnin platform. The Earnin app can be used as a shopping app to help you earn cash back. If you do your shopping within the app and pay with your Earnin account, you can get anywhere from 1% – 10% back on your purchases.
Empower
Amount you can withdraw –$25 to $250^.
When can you withdraw –Once per pay cycle. Eligibility to Cash Advance is updated automatically in the app.
Fees – Free for the first 14 days, and then $8 per month which gives access to all money management features in the app (including saving and budgeting to help you get out of the cycle of needing Cash Advance).
Empower is another extremely diverse app with Cash Advance options. You can sign up for the Empower Card which is interest bearing. Plus, there’s no overdraft fees and no minimums and you can get your paycheck up to two days early.*
Additionally, Empower has one of the most robust budgeting apps out there, akin to how Personal Capital works. When you set up the budgeting portion of the app, you have a plethora of options to help customize the budget for maximum effectiveness. These options can include:
Tracking spending in multiple categories.
Setting spending limits within specific categories.
Setting the frequency within specific categories as to how much you can spend at certain times.
Setting a weekly savings goal and using the AutoSave function to reach your savings target faster.
Once you have all of your budgeting categories, limits, spending, and AutoSave set up you are ready to go. And if you find yourself in a jam between paychecks, there is the option to get up to $250¹ in a Cash Advance with no late fees or interest. This will then be taken out of your next deposited paycheck and your budget reconfigured to help you get back on track.
Empower is a financial technology company, not a bank. Banking services provided by nbkc bank, Member FDIC.
Empower Disclosure – ^ Eligibility requirements apply. * Early access to paycheck deposit funds depends on the timing of the employer’s submission of deposits. Empower generally posts such deposits on the day they are received which may be up to 2 days earlier than the employer’s scheduled payment date. Cashback deals on Empower Card purchases, including categories, merchants, and percentages, will vary and must be selected in the app. Cashback will be applied automatically when the final transaction posts, which may be up to a week after the qualifying purchase.
Dave
Amount you can withdraw – $100.
When can you withdraw – Once until the account is paid in full.
Fees – $1 per month.
Dave is an app that creates an online checking account for you with the option of cash advances. Once the app sees that you might be close to overdrafting your account, they will send a notification to warn you.
At this point, you will have the option to take up to $100 cash advance against your next paycheck. If you decide to take the payday advance, they won’t charge you interest on anything you take. They also don’t require a credit check to implement the cash advance either.
While just that option alone is great, Dave has quite a few other perks to sweeten the pot. These include:
Building your credit history by automatically reporting rent payments to the credit bureaus.
No ATM fees at over 32,000 ATMs.
Automatic budgeting feature to help you get back on track and stay there.
Find a side hustle feature to help you earn extra cash.
And if those extra added bonuses don’t win you over, you can also earn credits to offset the monthly fee just by connecting your debit card.
Brigit
Amount you can withdraw – $250.
When can you withdraw – Once per pay cycle.
Fees – $10 per month.
Brigit is a payday advance app that has the most flexibility with their cash advances. You have the option to get a cash advance up to $250 per pay cycle.
Not only could you get a larger payday advance, but you can also file an extension on your advance up to three times. There are no penalties or fees to do this either.
However, Brigit doesn’t just allow everyone to apply for a cash advance. They have some fairly stringent barometers for determining whether you qualify for a payday advance. If you meet the following criteria, then you can apply for the cash advance option within the app:
Have an individual checking account that is at least 60 days old.
Must have a balance in your checking account at least two days after getting paid.
Must continually have an account balance of over $0.
Use your checking account almost daily.
Have at least three paychecks deposited from the same employer.
Have an average paycheck of at least $400.
Show at least $1,500 per month deposited from the same employer.
If you don’t meet the aforementioned criteria though, you can still use their varied budgeting tools to help you get your finances back on track.
Chime®
Amount you can withdraw – Full paycheck.
When can you withdraw – Two days before normal payday with direct deposit.3
Fees – Free.2
Chime is a little bit different than all of the other cash advance apps. This is due to the fact that it’s not actually geared towards cash advances. In fact, payday advances are a new product offering for them. Their area of focus has been more along the lines of creating a dynamic online mobile financial app product instead.
In addition to being free, their mobile financial app product has myriad additional options.2 When you have a Chime account, you will be able to:
Access over 60,000 ATMs.6
Receive banking alerts anytime there is a deposit or charge.
Select an automatic savings option out of every paycheck.1
Round up charges to put money into a savings account automatically.^
Turn off your debit card with one swipe if you notice suspicious activity.
These are perks that most brick-and-mortar banks don’t even think about offering. * Which makes Chime’s mobile platform one of the most robust out there. But, as an additional bonus, Chime will give you the option to take a cash advance. Sort of. Chime will deposit your paycheck as soon as your employer deposits it into your account. This is usually around two days earlier than you would normally get it.3 So instead of holding the funds, Chime is basically giving you a cash advance with your own money, for free. Gotta love this!
* Chime is a financial technology company, not a bank. Banking services provided by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC. ^ Round Ups automatically round up debit card purchases to the nearest dollar and transfer the round up from your Chime Checking Account to your savings account. 1 Save When I Get Paid automatically transfers 10% of your direct deposits of $500 or more from your Checking Account into your savings account. 2 There’s no fee for the Chime Savings Account. Cash withdrawal and Third-party fees may apply to Chime Checking Accounts. You must have a Chime Checking Account to open a Chime Savings Account. 3 Early access to direct deposit funds depends on the timing of the submission of the payment file from the payer. We generally make these funds available on the day the payment file is received, which may be up to 2 days earlier than the scheduled payment date. 6 Out-of-network ATM withdrawal fees may apply except at MoneyPass ATMs in a 7-Eleven, or any Allpoint or Visa Plus Alliance ATM.
MoneyLion
Amount you can withdraw – $250.
When can you withdraw – Once per pay cycle.
Fees – Free.
MoneyLion has the option to get one of the larger cash advances on the market, of up to $250. Should you need a payday advance, MoneyLion makes it very easy to get one through their app. When you log into their Instacash feature, you can choose how much money you need until your next payday.
But, MoneyLion doesn’t stop there. They have quite a few extra perks that most of the other cash advance app companies don’t have. Some of their most prominent features include:
Free credit monitoring.
Free checking account.
Access to over 55,000 ATMs for free.
Fraud protection with debit card lock.
Credit building loans.
They also have a cash back rewards program in the works to give you up to 12% back on purchases with your debit card. And, if you choose to go with their paid membership, then you get an additional option to help you invest. This investment fund has no management or trading fees and is fully managed, to help you begin planning for retirement.
Varo
Amount you can withdraw – Full paycheck.
When can you withdraw – Two days before normal pay day.
Fees – Free.
Varo is known for their live customer service. They want to ensure that you have all of your questions answered and their expert assistance at your fingertips.
Varo is another mobile banking platform with the capability to get you your paycheck deposited up to two days earlier. Which is similar to a cash advance, without the fees or having to pay anything back.
As an addition to an easy-to-use platform, they offer quite a few other features that make their app enticing. Some of these include:
Debit card with automatic locking capability.
No fee transfers between your Varo account and anyone else who has a Varo account.
Instant notifications when money goes in or out of your account.
Access to over 55,000 ATMs for free.
Capability to overdraw your account by $50 with no fees when using your debit card.
Deposit checks remotely using the Varo app.
Save Your Pay option lets you automatically put a certain amount of each paycheck into a Varo Savings Account.
Save Your Change options lets you round up every transaction from your checking account to the nearest dollar and deposits it into your Varo Savings Account.
Even if you don’t choose to use all of the options available to you, Varo has so many choices that it can be difficult to even know where to begin. And that is where their live customer service can really shine.
How I came up with this list
This list of cash advance apps was a bit more difficult to create than I originally thought. The primary reason is that there are so many companies adding this feature recently. A lot of the apps mentioned have been around for a while and have been focusing on other areas of personal finance.
But, with the realization that so many of us are barely making ends meet on a monthly basis, adding a payday advance option to their platform only increases their diversity. So, I wanted to find apps that had a wide variety of other options besides just the ability to take out a cash advance. The hope here is that any of these options will create a more robust app to help you along your financial journey and not charge any excess fees along the way.
What to watch out for with cash advances
Even if a cash advance sounds like it might be a good solution to your temporary financial cash flow issue, there are some things to watch out for.
Expensive fees
Many cash advances come with hefty fees attached to them. The companies mentioned in this article do not, but reading the fine print is extremely important before taking out any kind of loan. Some of these fees can range between $10 to 5% of the loan, depending on the cash advance and the servicer.
High APR’s
High APR’s are another thing to really be careful with. While none of these companies charge an APR to take a payday advance, most others on the market do. And sometimes they can charge an APR of up to 400%. That is just crazy!
Continual use
If the fees and the ridiculously high APR weren’t enough to make you stop in your tracks, there is one other thing to seriously consider. When you take a cash advance, your next paycheck is reduced by that amount. Plus any fees or APR that may be tacked on. When you do this, you are shorting your future self money you might need to make ends meet during the next pay period.
Therefore, once you take one cash advance, it can easily create a downward spiral in which you will have to continue to do so. When this happens, it makes it so much harder to ever get back on the right side of the ship.
Most important features of a cash advance
If you are considering a cash advance to help you bridge the gap until your next paycheck, there are a few very important features to consider before pulling the trigger.
The amount you can withdraw
The amount you are allowed to withdraw will not be the same across the board. The amount you have available as an option for a payday advance may be based on a multitude of differing criteria. The most common numbers are between $100 – $250 per pay period.
When you can take a cash advance
When you will be allowed to take a cash advance can also vary. Some companies will allow you to qualify for one per month, whereas others are okay with one per pay period.
Associated fees
The fees and APR can also vary by company. None of the companies mentioned in this article have any fees or APR’s associated with their cash advances. But, if you choose to go with another company for a cash advance, make sure to read all the fine print regarding potential fees before signing on the dotted line.
Repayment terms
Not all repayment terms are created equally either. Some companies, like Brigit, will let you extend your repayment deadline. But, most companies have a specific time period designated for the cash advance repayment. So you will need to ensure you will have the money in your account by that date in order to repay the loan in full.
Cash advance alternatives
While taking out a cash advance can really help you make it through to the next payday, it still might not be enough. When this happens, it might be time to consider taking out a personal loan.
There are many different options to consider when it comes to taking out a personal loan. However, two of the best options are Credible and LendingTree.
Fiona
Fiona is a loan provider marketplace that offers many of your loan options all in one place. Fiona makes the loan finding process as easy as possible. All you need to fill out is a simple form that takes a matter of seconds, and you’ll see a list of some of the most reputable lenders with their offers perfectly tailored to your needs.
You can enter any amount you’re looking for and let Fiona know what your credit score is (they won’t run a hard pull on your score), and they’ll eliminated any lenders you may not qualify for.
Credible
Credible is another online marketplace for loan servicers to connect with consumers needing a wide variety of loans. These loans can include personal loans also. It is a quick and easy process to begin looking at the marketplace. And once you find a lender, or two, who have a personal loan with terms you can manage financially, then you will be connected to them through the Credible platform to complete the loan process.
Credible Credit Disclosure – Requesting prequalified rates on Credible is free and doesn’t affect your credit score. However, applying for or closing a loan will involve a hard credit pull that impacts your credit score and closing a loan will result in costs to you.
LendingTree
LendingTree is one of the largest online marketplaces out there, so they have a ton of product offerings in any category. Currently, they have quite a few different loan offerings ranging from $1,000 – $50,000 and 5.95% – 34.98%. This is a pretty widespread, so chances are they will have a personal loan product that will work for you.
The biggest thing to remember when considering a personal loan on top of a cash advance is that you will only be perpetuating the cycle and can keep yourself in debt longer. So, if there is any other way, such as side hustles, to bridge the gap, then check into those options first.