Whether you need to establish a credit history or rebuild your credit, Credit Builder Plus helps you build credit while you save — with no hard credit check.1 And unlike other credit building programs, Credit Builder Plus gives you access to a portion of your loan funds right away.Build my credit today
Total monthly cost includes $19.99 Credit Builder Plus membership and a monthly loan payment.
More than half our members raise their score by 42+ points within 60 days.2
Credit affects so many areas of your life — from loans to insurance to housing — so establishing a good score is
essential. And Credit Builder Plus makes it easy!
It all starts with payment history, the top driver of your credit score.3 Credit Builder Plus includes a loan that helps you establish 12 months of payment history with all three credit bureaus. You’ll also get 24/7 credit monitoring to track your progress.
And while most credit builder loans don’t give you any of your funds up front, we’ll give you a portion of your loan funds right away and access to 0% APR cash advances.
With us, you can cover today’s expenses while you build credit and save. All with no credit check.1 You won’t find these benefits anywhere else.
MoneyLion is not only a really convenient and easy to use app, but it also helps you boost your credit score as long as you keep up on-time payments! How great is that?! See what they do is give you a $1,000 loan, but only make a portion of that loan available to you, that way, once you’re done making your on-time payments, you can have the rest of the cash to spend however you’d like PLUS a credit score boost! WIN-WIN!!!
Here’s an explanation of how our credit builder loan helps you get some money for today while building credit and savings for tomorrow:
Get a competitive rate loan and receive a portion of your funds up front, with the rest saved for you in a Credit Reserve Account.
Set up automatic loan repayments timed to your pay cycle for easy, manageable payments.
Get your on-time payments reported to all three credit bureaus each month to help you boost your credit score.
Receive the funds from your Credit Reserve Account to spend however you want after you pay off your full loan amount!4
Your score improves when you have less negative marks or late payments.
Lenders and creditors like to see credit ages of at least 8 years.
Lenders like to see a credit usage under 30%.
Apply for accounts that require a hard credit inquiry within a month to minimize the credit score impact.
Apply for Credit Builder Plus now to unlock a powerful membership and get a personalized credit builder loan offer up to $1,000.
Credit Climber Spotlight
"I like this app. It has a great credit builder. I’ve seen my score increase already. It’s also the best app for loan advances."
"If you need to rebuild your credit or need fast cash for bills. I suggest MoneyLion. When you have bad credit you feel like your stuck in this black hole and can’t get out. MoneyLion gives you an opportunity to save invest and build your credit all in one place. I would give 10⭐️✨✨?? Stars if I could!"
"Great service.. fast and service.. instant money when you need it not like other apps that make you wait after you pay them back like a few days till they let you again.. thank you and I plan on keeping this great bank and also the loan program is awesome build my credit and get money when other have said no."
"Never seen anything similar to it. Helps build your credit. Gives you a bump in pay on payday. Once paid back up can instantly borrow again. Love it."
"It was pretty good to get a little in the beginning and then pay and get a lump sum at the end. I’m on my last payment so we’ll see how getting my money back goes but with everything else I’ve dealt with with Moneylion, I’m confident there will be no issue with that either. I recommend them for people who need to build a little credit."
"No hidden fees, straight forward, Easy system for repayment and requests. Even gave me a credit builder loan when no one else would so I really like them so far"
"Your great service has helped me and saved my credit unbelievably. I was able to pay an unexpected payment due to your wonderful service. I love you ! And thank you so VERY MUCH..... PATRICIA BUGARIN"
"I’ve done the credit builder loan twice and it’s super easy and it helped raise my credit score. Granted it takes a full year to pay the loan back but it’s such a low payment I never notice the payment that is automatically withdrawn from my checking account every Friday. The Instacash option is a helpful feature as well if you a little extra cash before payday! "
Credit Builder Plus is MoneyLion’s program to help you build or rebuild credit even if you are new to credit or have typically been unable to access traditional financial products. And it’s proven to build your credit! Most members improve their credit score by an average of 60 points within the first 60 days.*
This powerful membership costs $19.99/month and includes several features and benefits:
You get all this for just $19.99 per month (plus your loan payments if you take out a Credit Builder loan).
* Credit score improvement is not guaranteed. Credit scores are independently determined by credit bureaus. Data was sourced from credit score data from over 29,000 Credit Builder Plus members with an active loan between August 7, 2019, and April 21, 2020. MoneyLion is not a Credit Services Organization. Credit Builder Plus is an optional service offered by MoneyLion.
Applying is quick and easy in the MoneyLion app. To apply, you must:
There’s no credit check to apply and you don’t need good credit to be eligible. You can even apply if you don’t have any credit history at all.
To get started, just link your primary checking account, and we’ll securely scan your finances to see if you qualify. The account you link must meet the following criteria:
You can apply directly in the MoneyLion app and we’ll let you know if you’re approved for the Credit Builder Plus membership almost instantly.
If your account doesn’t qualify, please try again when it has been open longer and/or had more consistent deposits and positive balance — or try connecting another checking account!
Here are a few more tips on qualifying for Credit Builder Plus:
Based on your financial history as detected in the checking account you linked when applying for Credit Builder Plus, we’ll split your loan funding into two parts:
By holding some funds in the Credit Reserve Account, we are able to give you the opportunity to build your credit with consistent payments over the 12-month term of the loan.
The Credit Reserve Account will be in your name, and you’ll be able to see it in the “Finances” tab of the MoneyLion app. Think of it like instant savings! When you pay off your full loan amount, it may take up to 10-14 days to get the money from your Credit Reserve Account distributed to you after you have initiated your final payment.
If you have an active RoarMoney account and debit card, we’ll disburse the funds to that account. If not, we’ll disburse the funds to your external checking account that you use for your loan payments.
Your Credit Reserve Account is an account maintained by MoneyLion’s SEC-registered investment adviser, ML Wealth, LLC, and held by Drivewealth LLC, member SIPC and FINRA. The funds in this account will be placed into money market and/or cash sweep vehicles and may generate interest at prevailing market rates.
You will not be able to access the funds in your Credit Reserve Account until you have paid off your Credit Builder Plus loan. You may use it to pay off your loan in full, if you choose. Learn more here.
The Credit Reserve Account is not a transaction or trading account. If you default on your loan, your Credit Reserve Account may be liquidated to partially or fully pay off what you owe.
With the Lion’s Share Loyalty Program, the more you use your membership, the more you can get back. To be eligible, you must have a RoarMoney account, a MoneyLion Investment account and be a Credit Builder Plus Member.
The program has five tiers — Mint, Bronze, Silver, Gold, and Platinum. Your program tier is determined at the end of each month based on:
|Tier||Purchases of $10 or more per calendar month||Days of MoneyLion app logins per calendar month||Expected Lion’s Share payout|
|PLATINUM||20+ purchases||logins every day||$19.99|
|GOLD||10-19 purchases||25+ days of logins||$7-12|
|SILVER||5-9 purchases||15-24 days of logins||$3-5|
|BRONZE||1-4 purchases||5-14 days of logins||$1-3|
|MINT||0 purchases||1-4 days of logins||$0|
You must meet both requirements — days of logins AND number of MoneyLion Debit Mastercard transactions — to qualify for any given tier. So, let’s say the number of purchases you have made satisfied the requirement for Platinum, but the number of days you logged in falls within the Bronze range, you would qualify for Bronze that month.
Platinum members will always get a $19.99/month Lion’s Share payout. Payouts for the tiers below Platinum will vary each month, and we’ll announce the projected payout amounts in the app and by email at the start of each month, so members can know what they’re aiming for.
As an example, here are the July 2020 Lion Share’s payouts by tier:
Lion’s Share payouts will generally be deposited into your MoneyLion Investment Account within five business days of month-end.
Your Credit Builder Plus membership and loan payments must be in good standing at the end of the month for you to receive a payout. MoneyLion Debit Mastercard and virtual card purchases must be $10 or higher and posted by month-end (not simply pending or authorized) to count toward your total transactions for the month. Any transactions not posted within the month will count toward your next month’s Lion’s Share.
At the end of each month, we’ll assess all membership activity across our business and determine the total pool of Lion’s Share money available to be shared with Credit Builder Plus members. After we give $19.99 to each member who qualified as Platinum based on their logins and purchases that month, we’ll calculate the exact amount to be awarded to each of the lower tiers based on what’s left in the pool.
The Credit Builder Plus membership costs $19.99/month. We will schedule your membership fees and loan payment due dates to align with your paycheck frequency to make payments easier.
For example, here’s how the $19.99/month membership payment breaks down by pay schedule:
To view your membership payment schedule click into your Profile menu in the top left corner of the app and navigate to the Membership page.
Your loan payment will be collected as a separate transaction and will include both the principal payment and interest due. Your loan payment schedule can be found by clicking on the “Loans” tab in your app and then selecting “Payment Schedule”.
Remember, Credit Builder Plus members can earn a Lion’s Share payout of up to $19.99 at month end by logging into the MoneyLion app every day and using their RoarMoney Debit Mastercard for 20 or more purchases of $10 or higher in a calendar month. Learn more here.