Dave is a well-known financial app that offers a $500 interest-free cash advance. Dave stands out as one of the best payday loans in the cash advance app markets. But, even with these, Dave still has a few drawbacks of its own. As a result, many people are looking for other payday loans online apps like Dave to turn to. Fortunately, securing the cash you need quickly is now very easy. There are several apps like Dave to get instant payday loans.
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7 Best Payday Loans Online Like Dave
With a Dave account, you can enjoy fee-free overdrafts up to $200 and expedite payment processing by up to two days by using current. It also even offers a card to help you accumulate credit through regular transactions and earn points for cash back on swipes is included with the account and more. So, you can see, Dave can give you the comfort you need to get by in an emergency.
However, to be qualified, you must have made at least three recurring deposits. Maintaining a steady revenue stream and practicing frugal spending will also boost your profile. Nevertheless, like Dave, there are other online payday loan apps you may want to know about.
Similar to Dave on this list, these apps provide the option to set up a qualifying direct deposit and receive payment up to two days ahead of your traditional bank.
Here are 7 of the best payday loans online like Dave:
Varo has recently introduced the “Advance” option, which is available to users who have deposited at least $1,000 in eligible direct deposits into their Varo Bank Account. With Varo’s Advance feature, you can take out a maximum $250 loan.
Varo also provides a checking account with no monthly maintenance fees as well as a credit builder card. Varo distinguishes itself from Dave by not charging a monthly membership fee. There is no interest fee, however, any cash advance over $20 will have a fixed fee of between 6% and 8%.
With the “Overdrive,” Current allows users to access up to $200 without paying overdraft fees. You must have received $500 or more in qualifying deposits into your current account in the last 30 days to be eligible.
Besides to its borrowing feature, Current offers credit builder cards, saving pods with excellent annual percentage rates, and the ability to get your paycheck up to two days early. Furthermore, Current offers the ease of depositing paper checks along with a large network of 40,000 fee-free ATMs.
With Chime, you can get up to $200 in cash advances on debit card transactions and cash withdrawals. Although their “SpotMe” product doesn’t impose overdraft fees, it is not a cash advance. Rather, it functions like a credit line that you can use by using your Chime debit card to make purchases.
Thus, most customers normally start with a $20 credit limit, but those with good credit can work their way up to $200. Chime will automatically pay the overdraft if you go over your bank account limit, which will lower the amount of accessible credit. The loan repayment is then immediately deducted by Chime from your subsequent paycheck.
Another app that offers access to cash advances of up to $250 is Albert. Set up a direct deposit and provide proof of consistent income from the same employer for the last 60 days or more to be eligible. Like Dave, there are no interest or late fees associated with Albert’s “Instant” feature. Each pay month, you may take up to three cash advances, with a $250 maximum each time.
“Genius,” an optional premium membership offered by Albert, is $96 a year. Investment choices are among the extra services that can be accessed with this membership. We don’t think Albert’s extra features are much that different from those in Dave. It is also important to note that you will be immediately signed up for the Genius free trial when you register an account with Albert.
Earnin allows you to access your earned money ahead of time. But they believe you should have access to the money if you worked for it, so they give you up to $750 in a pay period and $100 per day. You need to download the Earnin app, validate your job and income, and gain early access to your earnings.
The amount of money you can access early is then determined by Earnin by tracking your hours. Earnin retains the part of the sum that has already been advanced to you when you get paid, so you don’t have to worry about making payments or interest.
Similar to Dave, MoneyLion allows members to make $500 cash advances. MoneyLion is a personal finance app that assists users in taking charge of their money and achieving their objectives; it provides more than just cash advances.
You must link your bank account and get your paycheck via direct deposit to qualify for a cash advance from MoneyLion. Opening a MoneyLion “RoarMoney” Account could make you qualified for up to $1,000 in cash advances.
DailyPay provides access to 100% of earned income, in contrast to the Dave app. For someone who requires more than $500 to solve the issue and is facing a serious emergency, this can be a suitable alternative.
By allowing workers to access their money as soon as they are earned rather than having to wait until payday, DailyPay offers what they refer to as “earned wage access.” DailyPay is only accessible if your company provides it. On their first day of work, employees can access their earned money.
Until a fee, you can request funds instantaneously to any account or card, or you can wait till the following business day to receive them.
You can get through difficult times by using apps like Dave for little cash advances. However, to avoid using cash advance applications, it is always a good idea to find alternative methods of managing your funds.
Frequently Asked Questions
Is there any other app like Dave?
There is. There are several apps similar to Dave, such as EarnIn, Albert, Current, Varo, and Chime. This app functions almost like Dave, you can apply for payday on this app.
How do you qualify for Dave’s loans?
It is vital to remember that you must have at least $1,000 in your account to be eligible for Dave. To find out how much you qualify for, Dave will also review your payment history. Don’t worry if you work as a gig worker or if your monthly income is less than $1,000.
What app is better than Dave?
Earnin is a free app that offers normal cash advances without interest or other costs; but, if you would want to give the company a little something extra, you can choose to pay an optional “tip.”
Is Chime or Dave better?
If a high-interest rate is what you’re after, Dave might be more enticing. While the Chime Savings Account only gives 2.00% APY, the Dave Spending Account pays 4.00% APY.