Summer is so close you can smell it
It’s the smell of freshly cut grass, suntan lotion, and a sizzling barbeque. If you’re like most, you’ve started making summer plans that involve family, fun, and… expenses. (Notice that stress isn’t mentioned?)
This time of year shouldn’t be stressful, but between all your fun plans and day-to-day obligations, money can get tight. Luckily, there are a few resources you can turn to for a loan, even if your credit score isn’t something to brag about.
Getting a loan on the fly
Have you tried to get a loan from big banks and been denied? It may be time to look for other options. Some people consider asking friends or family for a loan when they need a little help. Make sure that whatever you borrow, you’re able to pay back in a timely manner. You may consider documenting your loan terms and signing an agreement so they know you’re serious. Or you could apply for a loan at a local credit union, which may have less restrictive lending guidelines than larger financial institutions do. Unlike for-profit banks, credit unions are smaller, nonprofit organizations that may have the ability to offer you lower fees and more personalized service.
Why just borrow when you can borrow and save?
Want more than just a quick loan? How about regular access to 5.99% APR loans (with no need to reapply), while rebuilding your credit and saving for the future? MoneyLion Plus (learn more: online ❘ mobile) may be the best solution to a stress-free summer season and beyond. Look at all the benefits that you get with the $29/mo membership:
- Access to a $500 loan at the low rate of 5.99% APR. The best part is, once approved, there is no need to reapply for future loans. That rate is much less than a revolving line of credit or credit cards (we’ve done the comparisons).
- $1 daily cashback. You can recoup your entire membership fee just by logging in and reading your financial tip cards to earn $1/day in the MoneyLion mobile app.
- Credit building services that report your loan payments to credit bureaus to help improve your credit score.
- Monthly savings/investing into your own managed investment account that allows you to potentially earn returns on your money.
- Rewards program that gives you points and cash bonuses for being financially healthy and doing things like paying bills on time and referring friends.
- Banking (coming soon). Every MoneyLion Plus membership will soon come with all-access banking. That means no overdraft fees, no minimum balances, and no hidden fees.
Sounds like the perfect recipe to sit back, relax, and do what summer was meant for -- having fun! Save money toward your future while having access to low-rate loans. That’s much better than a one-off loan from the other guys. What would you do with a little extra cash and a little less stress this summer? Leave us a comment with your ideas.
Checking accounts will be offered through a third-party partner bank, Member FDIC.
MoneyLion Plus membership required. View full terms and conditions here.
- Not FDIC Insured or Bank Guaranteed * May Lose Value. The managed investment account is subject to risks, including but not limited to the loss of principal. Not bank or FDIC insured. This advertisement should not be construed as a recommendation regarding the suitability of purchasing a particular security or securities in general.