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Thread: MoneyLion- Savings App that Loans you $500

  1. #1
    Featured Member Juliette25's Avatar
    Mar 2010
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    Default MoneyLion- Savings App that Loans you $500

    Iím an early adopter of financial apps and I found this one called MoneyLion that I have a feeling a lot of the ladies/gents here could benefit from. Especially since you can borrow $500 from it even if you have bad credit.

    Itís a combination of forced savings, rewards, and lending with a small membership fee but itís set up in a way that you can make up the entire small fee back every month into your investing account. The loan APR is also very low 5.99%. The ability to to borrow the loan is unlocked after 1 month of your plus membership and part of that membership goes into your investment account. Here are details from the site:

    -Apply for MoneyLion Plus and get a personalized investment plan and a $10 sign-up bonus.

    -You'll have access to a managed investment account, 5.99% APR loan, and $1 daily cashback instantly after enrollment.

    -We'll transfer $50/mo from your bank account to your Plus investment account, and you'll get an extra $1 cashback every day you log in to the app.

    -Your $29/mo membership fee, $50/mo investment, and any loan payments are split across your pay dates.

    -We think you'll love MoneyLion Plus. If not, cancel anytime after you've paid off any loans.

    I did a lot of pondering and research before I took the leap on the Plus myself and it just makes total sense to me because it makes you save and it gives you access to some extra cash that you may not have had access to before. Plus you can bring any free to $0 just by logging into the app and swiping through helpful tips daily. I would say that you definitely need to look at it as a investment and commitment though and not just a quick way to get $500.

    Thatís my referral link above so if you do happen to join we both get an additional $10 (so thatís $20 for you when you sign up).

    Since ive looked into it extensively I can probably answer most questions so feel free to ask and I hope it helps you gals and guys out.

    Last edited by Juliette25; 09-10-2018 at 06:52 AM.

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