5 Best Apps Like Dave
Over the last decade, the amalgamation of tech and finance sectors in the world has given rise to an alternative credit and lending industry, which provides us with much better options for accessing funds during emergencies. Cash apps are leading this list which is proving to be quite resourceful when it comes to instant cash loans as they allow you to get them much quicker without involving the rigorous paperwork.
You can find yourself in a tough financial situation for a variety of reasons. Some individuals have low credit scores that all other avenues for loans have been closed. If you find yourself in such a situation, then loan apps like Dave can certainly help you.
These guaranteed, unsecured, short-term loans provide much-needed financial relief to individuals who have the means to quickly pay them back. Such loans carry high fees and interest and thus shouldn’t be extended for several years. Today there are countless apps to choose from, all offering easy payouts and applications designed to help the financially struggling.
The pandemic triggered not just a health crisis but financial distress too all over the world. Millions of people have lost their jobs and going through an immense financial crisis. In such a situation, apps like Dave have come as a boon for many. The app provides cash advances up to $100. Borrowers can repay the money in small installments. The app is designed to help people meet their cash crunches, helping them to pay utilities and rent on time.
#1 Best Cash Advance App of 2021 – Viva Payday Loans
Best Cash Advance Apps Like Dave – Quick-Pick
Currently, the world is witnessing the rise of fintech with alternative lending being one of the major contributors. A large number of the US population remains untapped by institutional lenders, providing vast opportunities for cash apps like Dave to succeed.
In the interest of readers looking for some reliable cash advance app alternatives to Dave, here are five cash advance apps that you should take a look at.
- Viva Payday Loans – Best for Very Quick Cash Advances
- Credit Clock – Best for Lower Loan Amounts
- Money Lender Squad – Best for a Wide range of loan Options
- Very Merry Loans – Best for Same-day Decisions
- Heart Paydays – Best for no Previous Credit required
How To Use Apps Like Dave – Quick 4 Step Guide
The process behind using cash advance apps like Dave is pretty simple and straightforward. These payday lenders must provide simple signup and application methods that can be completed within mere minutes. As the main enticing factors for these apps are the convenience offered and speed, always choose an app that is able to provide you with prompt cash advances. To better understand the signup and loan application process, we’ve taken the example of Viva payday Loans.
Step 1. Visit Viva Payday Loans – The first step is to visit the official website of the cash advance service you have chosen. In this case, visit the Viva Payday Loans website and find the “apply now” button on the top right-hand side of the screen. Clicking it will take you to the online form.
Step 2. Complete the application form – The application forms for cash advance websites are simple and easily understandable. You will be presented with a screen that will ask for the requested loan amount and your email address. The form will further ask for your name and personal details, employment/income information, banking details, and a list of your monthly expenses.
Step 3. Get your decision – After you submit your application form, Viva Payday loans work to match it with their network of prospective lenders. This can take a few minutes as the lenders verify your identification and your financial situation. When verified, the lender will send a loan agreement for you to review and sign. It is very important to read the terms and conditions before signing. In this step, applicants who are rejected will also be notified clearly so that they can reapply.
Step 4. Receive the loan amount – Finally, after submitting the loan agreement, you may have to wait sometime before the loan amount reaches your bank. Viva Payday loans confirm and send the loan amount on the same day in maximum cases. The exact time taken for the amount to reach your account also depends on your bank’s payment portals.
What Are Cash Apps Like Dave?
For those of you who don’t know the cash advance landscape, Dave is a popular financial application that assists its users with cash advances which they use to avoid bank overdraft fees. It uses an innovative tips model instead of charging interest. Members have to pay a monthly membership fee to use its services. Dave provides you with the budgeting tools and alerts you if your bank account looks like it’s in danger of being over-drafted.
The app does a great job of checking your account balance and notifying you that it’s getting low. It then allows you to request cash advances that can help any user cover their upcoming expenses until you get funds from elsewhere. Dave can automatically withdraw money from your bank account if the loan amount is not manually paid before the due date.
Over time, the success of Dave has prompted several other app builders and websites to enter the cash advance space. These providers give you access to unsecured loans, usually at high-interest rates which have low credit score requirements. Most of these provide guaranteed same-day pay-outs and are reliable tools for less credit-worthy individuals to use.
Best Cash Advance apps like Dave – Fully Reviewed
1. Viva Payday Loans – Best for Bad Credit Payday Loans
Vivapaydayloans.com does not need any introduction. One of the most popular platforms is known to offer loans to those who are struggling to meet their expenses. Viva Payday is not a lender but it has a network of top lenders who provide loans. The application process is quite simple and takes just some steps to finish the process.
Those who need money can apply for loans that range between $100 to $5000. The repayment period is generally between 3 to 6 months which depends on the terms selected. APRs are from 5.99% to 35.99%.
- The website offers easy navigation.
- The application process is simple.
- Loan approval is possible in just a few minutes.
- There is an extensive network of lenders
- Nothing is charged for using the tool.
- Not available in some states.
2. Credit Clock – Best For Lower Loan Amounts
Credit Clock is an installment loan provider which offers loans from $200 to $5000. The platform is popular amongst borrowers because the website is easy to use, and the loan approval rates are high as well. Applications are generally processed in just a few minutes after they are received. Thus, borrowers do not have to spend anxious hours waiting for their loan.
Credit Clock offers loans to individuals with bad credit. To apply for loans, the borrower needs to be 18 years old and needs to have a monthly earning of a minimum of $1000.
These loans are applicable to US citizens and the APRs range from 5.99% to 35.99%. However, there are a few lenders who can charge a bit higher as well.
- Individuals with bad credit can apply as well.
- The process of loan approval is fast
- Loans are available for the unemployed as well.
- The applicant needs to provide proof of income.
3. Money Lender Squad – Best for Same Day Payouts
Money Lender Squad is one of those platforms that specializes in low APR loans for those who are in financial distress with no guarantors. People with bad credit or those who are unemployed can also apply and get approval for these loans. Instant approval loans are available for applicants.
The application form is quite simple, and the process will take just a few minutes to complete. Users need to just fill up a form with personal details and then click to submit. The portal has an automated system that works to find the lender and then the results are available in just some minutes.
- Extended loan terms are available
- The application process is fast.
- Those with bad credit and no guarantor can also get a loan.
- Interest rates tend to vary at times.
4. Very Merry Loans – Best for Low APR
Very Merry Loans helps to connect borrowers with lenders. People with bad credit or those who do not have any guarantor can also borrow using this platform. The broker has a large number of lenders in its network and the system matches applications with the lenders.
Loans offered by Very Merry Loans are usually between $200 to $5000. Borrowers can visit the online platform and choose loan amounts. The amount should be chosen carefully so that it doesn’t become a burden for the borrower to pay it back later. Loans are available from $200 to $5000. The APRs usually range from 5.99% to 35.99%.
To apply for this loan, the applicant should be at least 18 years. It also requires income proof of a minimum of $1000 each month. This can be an alternative income or from any traditional job. Borrowers will also have to submit documents like address proof and identification documents.
- Loans are available for those who are unemployed.
- If anyone wants to extend the repayment time, it is possible.
- One can apply for loans between $200 to $5000
- The interest charged is high at times.
5. Heart Paydays – Best for Low Interest Rates
Individuals with bad credit or those with no guarantor or those who are unemployed, often find it difficult to get their loans approved. Heartpaydays.com is the website that comes in assistance to those who are not able to qualify for loans and are in need of money. Heart Payday offers loans with credit or background verification.
Users need to visit their website, fill out the application form and then apply for a loan. The approval decision is known within a few minutes. It is one of those portals which has a high rate of success because it offers loans even with bad credit.
- The website is straightforward.
- It takes just a few hours to get the loan amount.
- Applicants have the scope of selecting their own terms.
- There is not much information about the team behind the lenders.
Features of Cash Advance Apps like Dave
Dave is an app that was created to help people avoid paying bank overdraft fees. The app effectively alerts the individual when the checking account balance gets low. It allows the user to request cash advances so that any upcoming expense can be met until the next paycheck is received. Later, the app automatically withdraws the borrowed amount from the linked bank account in case you do not manually pay it back before the due date.
If you plan to use Dave for your additional expenses till you receive your paycheck, here are some of its features you need to know about:
Does Not Charge Interest
If you are using the Dave app, you do not have to worry about paying interest. Instead of charging interest, the company occasionally asks for ‘tips’ for using the service. However, there is no need to tip for using this app.
$1 Membership Fees
The app charges a monthly fee of $1 for using the app. This small amount is deducted from the bank account that is linked every month. Users have the opportunity of earning free months if they make purchases from certain businesses.
Alerts The Users About Low Balances
If the account balance of the user gets low and there is not enough money in the bank, Dave lets the user know that the due date is soon. A notification is sent to the user. Then the user can choose the option of cash advance that can help to overdraw the account.
Withdrawal Limit is Low
The maximum advance one can receive is quite low. It is just $100. When one receives a cash advance, the individual cannot request more money until that amount is fully paid. Payments are usually due the next Friday or the next payday. This depends on the amount you wish to borrow.
Advantages and Disadvantages of cash advance apps like Dave
Dave is one of those apps which offers cash advances to borrowers so that they can avoid bank overdraft charges.
- No interest is charged but occasional tips are charged from the borrowers.
- It alerts the borrower if the bank account seems to be in danger.
- It provides easy access to different budgeting tools.
- The maximum cash advance limit is quite low.
To be eligible for a cash advance, the Dave app does not check the credit of the person. Machine learning is used to review spending habits, income, and regular bank balance.
- For an advance up to $100, users must link one bank account so that Dave can review and later debit from.
- For an advance up to $200, users must create a Dave Spending account. A direct deposit has to be set up.
- The user should be able to show that expenses do not eat up all the income. There must be some savings every month.
The entirety of the application process for getting cash advances is normally simple and straightforward. Most brokers such as Vivapaydayloans.com will redirect you to their application page when you click on apply. They allow you to choose an amount typically ranging from $200 to $5000 with loan tenures within 2 to 24 months.
While the entire application process isn’t complicated, you do need to know the right steps to apply. Vivapaydayloans.com may ask you for some personal details besides your name and email address. This will help them get your application swiftly approved by their network of lenders. When connected to the lenders, they may request several documents for verification after which they send the loan agreement. Signing and submitting this application signals that you accept the terms and conditions of the loans.
The application form will also require you to declare the exact amount you wish to request as a loan. This will help lenders take a quick decision when coming across your application. While brokers like vivapaydayloans.com do not conduct any credit checks themselves, the third-party lenders they work with will conduct detailed credit checks before granting the loan. This entire process is usually completed within mere minutes, after which the loan amount is transferred to your bank account.
Request your Cash Advance at Our Top Rated Provider – Viva Payday Loans
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