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Getting declined by your favorite cash advance app? It might be due to a low credit score, unstable or irregular income, or high debt. To help you get the cash you need, we’ll show you how to focus on improving your financial situation. Check out our tips and top alternatives when cash advance apps say “No”.
Cash advance apps have become increasingly popular in 2024, offering a quick and convenient way to access small sums of money until your next payday.
But what happens if your request for cash is rejected?
For many, the convenience of a cash advance comes with the frustration of being (sometimes repeatedly) denied access to funds.
You might wonder if it’s your credit score, your income, or your app history that’s to blame.
The answer could be all of the above… or none.
If you’re facing repeated rejections from cash advance apps, it’s helpful to understand why and explore alternative options that may better suit your needs.
Read on to remove the confusion and get approved by your favorite cash advance app.
Top Reasons You’re Being Rejected by Cash Advance Apps
Odds are you’ve heard about Dave, Cleo, MoneyLion, and plenty of other cash advance apps that are growing in popularity.
The total money delivered via cash advance apps last year was around $10 billion. So if you’re being left out of the party, it helps to know why.
Cash advance app denials can occur for several reasons. Here are some of the most common:
- You don’t meet income requirements: Most apps require a minimum income threshold to ensure your ability to repay the advance. For example, Albert requires two months of income from the same employer. Many apps also require at least $800 – $1,000 in monthly deposits to qualify.
- You don’t get paid by direct deposit: Hey, we get it. Setting up direct deposit can be a bit of a pain, and some folks rather their income not be easily identified by banks and the tax man. However, the thing cash advance apps and many other lenders love to see is regular, recurring income – especially the kind that’s automatically put into your bank account every other week, like clockwork. While there are a few apps that will lend to you without direct deposit, having it set up with a couple of months of history may greatly improve your odds of getting approved, as well as help you qualify for larger amounts.
- You have a poor credit score: Low credit scores can raise red flags for lenders, indicating a higher risk of defaulting on the advance. It’s worth noting that most cash advance apps don’t run a credit check, so you typically won’t be judged based on your credit score alone.
- You don’t have sufficient banking activity: Irregular income deposits, low account balances, or frequent overdrafts can raise concerns about your financial stability. For example, Brigit’s Eligibility Requirements requires a balance above $0 as “members with less than $0 have trouble using our service to maximize their financial health”.
5 Strategies to Get a “Yes” From a Cash Advance App
#1 – Budget and track your spending
The first step to being approved is getting (and staying) on top of your finances.
When you understand your financial situation, you’re more likely to meet the eligibility requirements of apps like Dave.
Create a detailed budget outlining your income and expenses to identify areas where you can cut back. You can utilize budgeting apps or spreadsheets to track your spending and identify areas for improvement.
Regularly reviewing your spending helps you avoid relying on quick fixes like cash advances and empowers you to make informed financial decisions.
Need help understanding your spending habits?
The Cleo app comes with a suite of built-in tools to help you track your spending and savings. Cleo breaks down your income, spending and bills in a way that makes money easy (and fun) to understand.
Seriously, let Cleo’s AI ‘Roast’ or ‘Toast’ you and you’ll laugh your ass off while finally seeing where your money is going – which can help you spend less, save more and make progress towards your financial goals.
Don’t Show These to Your Mom >>> Cleo Roast Mode (+ Hilarious Examples) 🔥
#2 – Explore other money making side hustles
You may not be eligible for a cash advance if you don’t have a fixed employer or recurring paycheck. Instead of going out and getting a 9-to-5 job, look into gig work.
As a bonus, driving for Uber or Lyft has perks outside of the extra cash you can earn. Plenty of cash advance apps are tailored specifically for gig workers.
If you’re dropping off DoorDash orders or shopping for Instacart, you’ll be able to use your fluctuating income to request cash advances from apps like:
#3 – Get specific with your chosen cash advance app
Just because you’ve been rejected by one cash advance doesn’t mean you’re locked out of all of them.
Instead of trying to meet eligibility requirements that don’t match your current income or lifestyle, look for cash advance apps that are tailored to you.
Check out our guides for more info on cash advance apps for specific circumstances:
- BEST: Free Instant Cash Advance Apps
- BEST: Cash Advance Apps for Emergencies
- BEST: Cash Advance Apps for Bad Credit
- BEST: Cash Advance App for Irregular Income
- BEST: Cash Advance App for the Unemployed
#4 – Look at alternative loan products and options
You might not be approved by a specific cash advance app, but that doesn’t mean you’re totally out of options.
Alternatives exist like small personal loans, lines of credit, or overdraft protection with lower interest rates compared to cash advance apps.
For example, Chime SpotMe covers debit card purchases and ATM cash withdrawals with up to $200 in fee-free overdrafts.2
Or, use PockBox to compare loans from up to 50 lenders. Loans start as low as $100 and go up to $2,500. You can compare your options without a credit check or committing to a lender. If the eligibility rules of a cash advance app isn’t suitable for you, a loan via PockBox might be a better solution.
Compare Loan Offers Up to $2,500 >>> Browse Pockbox For Free
#5 – Prioritize Debt Repayment
If you already have existing debt, prioritize repayment to improve your credit score and financial stability.
Consider debt consolidation to simplify your repayments and potentially lower interest rates. Addressing your existing debt can open doors to better loan options and products in the future.
It’s best to strategize your attack. Debt repayment methods can be managed in multiple ways:
- Avalanche method: Target debts with the highest interest rates first. This saves the most money overall.
- Snowball method: Pay off the smallest debts first. Quick wins can boost motivation.
Remember, consistency is crucial. Choose a method, make regular payments, and watch your debt monster shrink.
Discover our most popular resources to stay in control of your finances:
- Do THIS to Overdraft at an ATM (When Your Balance is $0) 🔥
- Do These Things to Borrow $100 From Your Phone 🔥
- How to Pay for Gas on an Empty Bank Balance (Life Hack) 🔥
WAIT! Why borrow quick cash when you can earn it?!
Cash advance apps can be a great tool for getting a little extra cash when you need it, but you’ll need to repay it – plus fees – wihtin a week or two. Did you know there’s an easy way to earn extra cash that’s yours to keep?
KashKick is a wildly popular service that lets you earn money for playing games, completing surveys, signing up for trial offers and more. (You’ll even earn cash for just completing your profile!) You can earn cash today and withdraw your earnings through PayPal once you’ve reached $10. You can earn over $100/month with KashKick – and you don’t need to spend a dime or take out your credit card to do it.
There are dozens of high-paying offers available on KashKick, and if you’re into playing new games on your phone, you can earn some serious cash for doing what you love. Though offers change regularly, there are currently1 more than three dozen offers available where you can earn cash – sometimes over $100 – just by downloading and playing popular games like Coin Master, Monoply Go, Bingo Blitz, and more. These games are all free to download, and no in-app purchases are required to earn with KashKick.
Get paid to play on your phone >>> Check out KashKick
- As of February 13, 2024. Offers may change and may not be available to all users. Eligibity requirements apply. See KashKick's Terms of Service for full details.
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SpotMe® on Credit is an optional, no interest / no fee overdraft line of credit tied to the Secured Deposit Account available to qualifying members with an active Chime Credit Builder Account. SpotMe on Debit is an optional, no fee overdraft service attached to the Chime Checking Account available to qualifying members after Visa debit card activation. Both SpotMe on Credit and SpotMe on Debit are sometimes collectively referred to as “SpotMe” or, if you have signed up to use SpotMe with only one account, “SpotMe” means the elected service. To qualify for SpotMe, you must receive $200 or more in qualifying direct deposits to your Chime Checking Account each month.Qualifying members will be allowed to overdraw their Chime Checking Account and/or Secured Deposit Account (associated with your Chime Credit Builder credit card) up to $20, but may be later eligible for a higher limit of up to $200 or more based on Chime account history, direct deposit frequency and amount, spending activity and other risk-based factors. The SpotMe limit will be displayed within the Chime mobile app and is subject to change at any time, at Chime’s sole discretion. Although Chime does not charge any overdraft fees for SpotMe, there may be out-of-network or third-party fees associated with ATM transactions. SpotMe Debit Terms and Conditions and SpotMe on Credit Terms and Conditions.
