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Best Cash Advance App of 2022

We’ve all been there: an unexpected expense has left you short at the end of the month. You are in danger of dipping into an expensive overdraft and just need some cash to help you out until you get paid. A cash advance app can be the perfect solution. You can even find apps to loan you some cash free of charge. Let’s dive into your cash advance options.

Top Cash Advance App

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PockBox is the perfect app to get cash advances of up to $2,500 in minutes. The process is sleek and straightforward. You will just have to give some information about yourself.The PockBox app should then connect you to the best lender possible and approve you in a matter of minutes.

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Get paid early

Yes, you can get an advance on your pay – but why is this a good idea? Getting paid early means that you can meet your commitments without going overdrawn. Often an unexpected expense can ruin a monthly or weekly budget, which means you end up making use of your bank’s overdraft facility.

Overdrafts are an expensive way to borrow and pressing your bank balance into the red without authorization can lead to stiff fees and charges. Some people do not have access to an overdraft facility in which case they will simply miss payments – again resulting in high penalties and charges.

Getting paid early by means of a cash advance app or by borrowing from a responsible lender can help you avoid high overdraft charges and penalties for missed payments. Early payments also reduces the risk of not being able to meet minimum daily expenses for food and travel.

Other cash advance apps

Plenty of apps allow you to get an advance on your paycheck. Each of these pay advance app offers something different, with some offering small loans completely free of charge while other apps charge interest. Let’s look at some of your options:

So what’s the best cash advance app

We have outlined a couple of apps that can get you your paycheck early, but we think the Earnin app (that you can download here) is a top option. Earnin is truly free: tipping is optional, so you can get your paycheck advance without paying anything at all.

Earnin has another advantage: you can borrow up to $500 with Earnin, which is a lot more than Dave. Dave restricts you to a choice of $25, $50 or $75. Note that $500 loans are only available to long-standing Earnin customers, new customers can borrow a maximum of $100 per day.

With Earnin you can easily avoid overdraft charges and expensive payday loan fees. The fact that Earnin is available for both iOS and Android is also great, Earnin is a very convenient way to get a portion of your paycheck early.

Smaller payday advance apps

The apps we discussed in the previous section are great for smaller loans, but sometimes you need a larger loan before your payday, especially if you are getting paid monthly. Note that these apps will often charge very stiff interest rates, large loans will never be free. Let’s look at some of your options for a payday advance.

Apps we don’t recommend

Borrowing to get you through to payday typically implies short term loans. You are not borrowing a large amount to pay for a large purchase, you just need a small amount of cash for a short period of time. Some lenders simply don’t offer a product for payday requirements, and we suggest you avoid the following apps if you are looking for a payday advance:

Criteria to get paid sooner

Lenders will never allow you to borrow without first evaluating your credit application against a set of criteria. Next, many apps will only work if the ways you work and get paid meet certain conditions. Depending on the app you choose you may need to meet some or all of the following conditions:

Early paycheck & responsible borrowing

Struggling with finances is a common problem. Getting an advance on your paycheck can be the solution, but continuously relying on loans to get through the month is not the answer. Even though many lenders will offer you small loans for free, you should really only take an early advance on your paycheck when it is an absolute emergency.

In case of an emergency, using a cash advance app can be a much better solution than dipping into an overdraft, or overdrawing your bank account without authorization. Payday advances can also be better than simply letting bills go unpaid: unpaid bills can lead to service cancellation and stiff charges for re-instatement.

Many cash advance apps include a built-in protection mechanism where you cannot borrow more than you have actually earned. Earnin is one example – you can only borrow what you have already earned. At the same time the app does not charge interest on your loans, avoiding an interest trap. Yet even with this built-in protection mechanism you should not get into the habit of continuously taking out loans to make ends meet at the end of the month.

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