How many times do we confront a situation where we are in desperate need of credit to come out of the financial crisis. At that time, we search for a source to streamline credits smoothly. Moreover, this unprecedented pandemic has shown all of us the optimum degree of economic uncertainty.
Unemployment, lockdowns, loss of jobs, etc. compelled us to go for loans to rejuvenate the economic health. Under such circumstances, apps that provide loans regardless of credit history and within minutes have gained popularity.
In this article, we will be discussing some apps you must try to avail yourself of loan apps like possible finance. But, before everything let’s talk about the said app i.e. possible finance and why you need alternatives.
About Possible Finance
Intending to achieve financial fairness, Tony Huang and Tyler Conant co-founded Possible Finance. The company is based in Seattle, WA.
Without a credit check, you can claim an instant $200 cash to be paid back in 4 instalments. A maximum credit limit may reach $400- $800 (though the limit may vary from place to place). Possible Finance claims to charge no interest rate or late fees. With on-time payment, you can get access to the Possible Card.
Over half a million people have taken help from Possible Finance, and most of them with poor credit scores have increased their scores.
Why apps like Possible Finance are convenient to use?
- Different apps have different threshold limits to issue credit. Some apps have even more than the said one. So, if you need more than Possible Finance offers, look for the appropriate ones.
- If you have already applied for a loan and need another one before the clearance of the former, you may have to rummage other offers.
Here are 12 Apps like Possible Finance
The app, owned by Empower Finance Inc., is designed to serve the same purpose. Empower is expanding its helping loans to improve people’s credit health and to have financial health re-established. It is secured as it collects only the data that you have provided to the app and other third-party apps.
In the beginning, you can start with a maximum credit of $200 but over time the limit may increase up to $1000 with every on-time payment. This is one of the best options in your hand to get loans like Possible Finance.
2. Dave Cash Advance
This is a digital banking app like possible finance used by about 10 million people. You can build your credit history and get up to $250 advances without paying a fee. Dave offers you a small advance on your next paycheck and you can pay back to Dave without any interest. It gives you a credit building opportunity. Also, you don’t have to pay a minimum balance fee or ATM fees from 32000 MoneyPass ATMs.
Exciting additional features of Dave help you to make more money as well. You can find some side jobs by connecting with people in a freelancing hub.
Cleo can give financial assistance up to $100. The company, headquartered in New York, USA, has a special provision of credit for students.
Cleo tracks your spending and sets goals according to it. But, privacy is never an issue as Cleo tracks money in read-only mode. Cleo does not bother much about past credit history and maintains a liberal policy while issuing credit.
Another fee-free mobile banking service provider like possible finance is Chime. It is an American financial technology company having about 8 million account holders. Headquartered in San Francisco, California, the app helps you to make money in an easy way.
You can have an online checking account without paying minimum or monthly fees. Also, Chime provides you to get access to 60000+ fee-free ATMs. You can build credit safely. Chime also provides you with a Chime card that acts like a debit card.
MoneyLion is another digital banking app like possible finance. Headquartered in New York, the app helps people to build credit easily. You can get a fee-free checking account, debit cards and fee-free cash advances. MoneyLion offers you up to $250 cash advances with 0% APR. You can get loans up to $1000 if you follow their strict criteria.
This is the best option in your hand as far as getting loans is concerned. Payactiv visa card helps you to get money 2 days earlier in case of personal paychecks and 4 days earlier in case of government payments. You can transfer funds on this app by phone number. SmartSpend and SmartSave are available to help you maintain your spending goals.
This is a digital banking company founded by Zuben Mathew and Hamel Kothari. About 1.5 million users are benefited from this app. Brigit advances you up to $250 within seconds. You can pay back to Brigit without any extra fees.
You can easily build credit without credit checks and previous deposits. Also, you can earn more money with full-time or part-time jobs in this app. Overall, the app is suitable for building credit and getting cash advances.
Another possible finance like company, Earnin was founded by Ram Palaniappan. The app provides financial services like earned wage access services. The Cash Out feature of the app allows you to withdraw up to $500 against their paycheck instantly.
You didn’t have to pay any mandatory fees, hidden fees or interest to use the app. Besides, you can help them with the voluntary tipping section.
You can invest through this app besides borrowing. As a result, it attracts people. You can avail of credit by providing your Social Security number, online bank account, and a valid government-issued ID card.
You can get loans through some simple steps, for instance, set the amount of money and time within which you can pay back and make a loan request. Let the lenders compete to give you loans. Thus you will get a hassle-free loan on this app like possible finance.
If you want to get access to little cash, Floatme is the best option to use. This is a cash advance app like possible finance. Users can borrow cash up to $50 only in between paychecks. You can get cash in a few minutes.
There is no credit check or interest. But, you need to pay a membership fee of $1.99 per month to use the Floatme app. The app helps you to build emergency funds. The app is only for W-2 employees earning at least $200 per pay period.
Another classical example of a source where you get loans like Possible Finance. The app is registered under RBI. So, you need not worry about security and privacy. Loans up to Rs. 50000 can be withdrawn through this app. You can even check your credit score on this app.
Another digital banking company, Klover offers you moderate cash advances. This app is on the list of possible finance like apps due to easy access to cash. You can get up to a $100 cash advance in a few minutes without paying any interest, credit check or hidden fees.
Founded in 2019, this Chicago based company provides you with modern financial services. You can get access to their earned wages, financial tools and rewards.
This is all about apps like Possible Finance from our end. We anticipate, that we have provided healthy pieces of information to help you in your time of need. It is important to note, that although these apps claim to provide loans without inspecting your credit history, it is better to maintain a healthy credit score. The more you comply with their guidelines the less rigid steps you have to follow and the threshold limit of loans will also increase accordingly. Wish you a healthy financial life. Happy reading!