5 apps like Possible Finance to use until payday

A woman using her mobile phone to research payday advance apps sits at a kitchen table next to a glass of orange juice.Image: A woman using her mobile phone to research payday advance apps sits at a kitchen table next to a glass of orange juice.

In a Nutshell

Apps like Possible Finance allow you to borrow money to cover your expenses until payday, even if your credit isn’t perfect. But interest rates may be high, with short repayment terms and extra fees, depending on the app.
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If you need money to tide you over until payday but your credit isn’t great, the Possible Finance app may allow you to get cash within one to two business days.

But Possible Finance is only available in some states, including California, Delaware, Florida, Idaho, Indiana, Louisiana, Michigan, Missouri, Mississippi, Ohio, Oklahoma, Texas and Utah.

So here are five apps like Possible Finance that may work as alternatives.

Best for avoiding overdraft fees: Dave

Why Dave stands out: Like Possible Finance, Dave is a payday advance app. But it also sends you alerts if you’re in danger of an overdraft on your account, helping you avoid costly overdraft fees.

  • Fees: Dave doesn’t charge late fees or any other penalty fees. However, there is a monthly $1 membership fee to use the app.
  • Speed: If you request an advance, it can take up to three business days for Dave to deposit the money into your account. For a small fee, there’s an express option that allows you to access your advance in less than eight hours.
  • Interest: Dave doesn’t charge interest for its cash advances.
  • Limits: The maximum amount you can borrow through Dave is $250. However, Dave may limit your maximum amounts or eligibility based on your income or other factors.
  • Repayment: When you open an advance, you also have to select your payback date for the full amount — typically the date you expect your next paycheck. On that date, Dave will review your bank account to ensure you have enough money to cover the repayment without overdrawing your account. If you do, Dave will automatically withdraw the money.

Read our full review of the Dave app to learn more.

Best no-fee option: Earnin

Why Earnin stands out: Earnin is a cash advance app that allows you to access a portion of your paycheck ahead of time without having to worry about fees. Rather than making money through charging interest or subscription fees, Earnin relies exclusively on voluntary tips.

  • Tipping limits: You can decide to tip nothing if you wish, or whatever you think is fair. The maximum amount you can tip is $14 on a $100 cash advance.
  • Speed: With Earnin, your pay advance is usually issued quickly. In most cases, Earnin will send the money to the customer’s bank account within 30 minutes.
  • Repayment: Earnin will automatically debit the amount of your cash advance on your next payday.
  • Eligibility: To qualify for Earnin’s cash out option, you must have at least two current direct deposits in your checking account, and the deposits should be a minimum of $100. Or you’ll need one direct deposit transaction and a recent pay stub.

Read our full review of Earnin to learn more.

Best for purchases: Affirm

Why Affirm stands out: If you want to buy something but don’t want to pay for it upfront or use a credit card, the Affirm buy-now, pay-later app allows you to spread out the cost over several weeks or even months.

  • Down payments: Depending on the purchase amount and your credit, Affirm may require you to make a down payment.
  • Amounts: The maximum amount you can finance through Affirm is $17,500.
  • Interest rates: While some retailers offer 0% APR, not everyone will qualify. Affirm’s APRs can be in the double digits, so review your options carefully.
  • Repayment terms: Repayment terms are generally three to 12 months in length.
  • Late fees: Affirm doesn’t charge any late fees.

Read reviews of Affirm to learn more.

Best for larger loan amounts: Avant

Why Avant stands out: If you’re looking to borrow more with a longer repayment term, Avant allows you to borrow $2,000 to $35,000 to consolidate debt, finance a major purchase or cover emergency expenses. 

  • Loan terms: With Avant’s personal loans, you can have 24 to 60 months to repay your loan.
  • APR: Depending on your credit score, the APR on your Avant loan could be well into the double digits.
  • Fees: Avant charges administration fees, late fees and dishonored payment fees — something to consider carefully, especially if your APR might be in the higher double-digit range.
  • Speed: In many cases, Avant will get your loan funds to you quickly. You could receive your money as soon as the next business day after you’ve been approved.

Best for building credit: MoneyLion

Why MoneyLion stands out: If you’re focused on improving your credit scores and want to build your payment history, a MoneyLion credit-builder loan can help you accomplish your goals. You can borrow up to $1,000, and you can even get access to a portion of your loan right away.

  • Repayment term: You will repay your loan over 12 months, and MoneyLion will report your payment activity to the three major consumer credit bureaus: Equifax, Experian and TransUnion.
  • APR: MoneyLion charges interest on its credit-builder loans. The APR can be in the double digits for some borrowers.
  • Fees: To get a MoneyLion credit-builder loan, you must pay a $19.99 monthly membership fee.
  • Credit checks: MoneyLion doesn’t do a hard credit check when reviewing your application. It only does a soft credit check, which has no impact on your credit scores.
  • Credit monitoring: If you use the MoneyLion app and take out a credit-builder loan, you get access to free credit monitoring. The lender will send you weekly updates on your credit based on your TransUnion credit report.

Read our full MoneyLion review to learn more.

What to watch out for with apps like Possible Finance

If you are considering apps like Possible Finance primarily for a cash advance to tide you over until your next payday, you may want to consider other options. Some of these apps may be more appealing than a high-cost payday loan, but may require a monthly membership fee or high APRs that you’ll want to factor into your total costs.

You may also want to consider a payday alternative loan from a federal credit union. These loans have caps on the fees a credit union will charge you to process a loan, often making them a much more affordable option than a payday loan.  

How we picked these loans

To choose the best apps like Possible Finance, we researched 12 apps that allow you to access your paycheck early or borrow money to avoid overdraft fees. We evaluated each app based on fees, maximum amounts and repayment terms.

About the author: Kat Tretina is a personal finance writer with a master’s degree in communication studies from West Chester University of Pennsylvania. Obsessed with her many side hustles, she focuses on helping people pay down their … Read more.