Beware of Loan Apps: They Can Ruin Your Finances

An AI money coach you can actually talk to. Cleo helps 8+ million users budget, save, build credit, or get a cash advance in those low-balance moments.

Dave was founded in 2017 as a "neobank" designed to serve people who traditional banks often ignore—those living paycheck to paycheck and needing short-term liquidity between paychecks

Albert is a fintech company, not a bank . It partners with Stride Bank, N.A. (Member FDIC) for banking services and debit cards, and holds savings accounts at Wells Fargo, N.A.

Brigit is a financial wellness app that offers cash advances up to $500, credit building, budgeting tools, and identity theft protection—all without credit checks, interest, or late fees. With over 12 million users and a 4.8-star rating on the App Store, it's one of the most popular cash advance apps on the market .

Tilt Finance, Inc. is a fintech company based in Garden City, Idaho. It is not a bank . Its products are issued through partner banks including FinWise Bank

Chime bills itself as the antidote to traditional banking—no monthly fees, no overdraft fees, no minimum balance requirements

Varo is unusual in the fintech world: it's not just an app that partners with a bank, it is a bank. In 2020, Varo became the first US consumer fintech to receive a national bank charter from the Office of the Comptroller of the Currency (OCC) . This means your money is FDIC-insured directly through Varo, not through a middleman bank

The elevator pitch: Possible Finance is a fintech company that offers small-dollar installment loans (up to $500) and cash advances (up to $300) with no credit check, no late fees, and no rollover charges. It positions itself as the "good guy" alternative to payday loans.