MoneyLion App Review: Personal Loans, Credit Monitoring, Rewards, and More

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MoneyLion offers mobile banking, no-interest cash advances, auto investing accounts, credit builders and debit card rewards all in one app.

Key Takeaways:

MoneyLion Logo
  • Improve your financial health with the free MoneyLion App.
  • Provides you with access to low-interest personal loans, helps track spending and savings.
  • The app provides financial advice to help you improve and control your financial life.
  • The MoneyLion community has over 2,000,000 members.

When people have huge expenses, which arise unexpectedly, they often take personal loans or put those expenses on their credit card to be able to cover for the cost.

This can lead to a high-interest rate which only increases debt for most people. It can also make it difficult for someone to improve their financial situation. This is where MoneyLion can help, and they provide a much better financial option for their consumers.

Since it was founded in 2013, MoneyLion has helped lots of people improve their financial health and to find ways to save more money. In addition, since 2013, MoneyLion has provided over 200,000+ loans to people to help improve their financial life. You can learn more about their loan products here.

For people still struggling with debt repayment and those who are trying to improve their financial security, MoneyLion provides then with options that can help them save money with reduced effort and can help them find better rates. This MoneyLion review will show what you can expect when using the MoneyLion app.

What Does MoneyLion Offer?

MoneyLion is a financial service mobile app and website that provides customers with access to low-interest personal loans, helps track spending and saving, and also provides financial advice to customers to help them improve and control their financial lives.

MoneyLion was designed to help people regain full control over their financial lives and it does this by arranging peoples financial information in one location on their smart devices. It is an app that provides many functions such as tracking credit score and spending or helping customers find a lower interest rate.

MoneyLion Plus Loans

MoneyLion provides loans between $1000 to $35,000 to their customers without the need to provide collateral.

This loan can be used without any restriction.

However, if you are simply looking for a personal loan, you do have other options that can get you funded more quickly:

CompanyLoan AmountAPR
best personal loansbest personal loans$1,000 to $50,0004.37% - 35.99%


sofisofitrustpilotUp to $100,0004.99% - 19.63%


best personal loansbest personal loans$1,000 to $100,0005.99% to 35.99%


zippyloanbest personal loans$100 to $15,0005.99% - 35.99%


MoneyLion’s Automated Savings Program

In addition to providing easier ways to save, MoneyLion also helps customers access an automated savings program where their money is being invested in a wealth account.

This means that’s customers can take zero interest loans to repay debts and cover other expenses, thus saving money that would have been spent on high-interest loans.

MoneyLion’s Credit Tracking

Instead of signing up for credit monitoring programs that can impose arbitrary clauses just to provide access to credit tracking, the MoneyLion credit monitoring software is a better option.

In this program, not only will you be able to keep tracks of your credit records, you will also be able to improve your credit score by means of other programs which MoneyLion offers to its customers.

MoneyLion’s Rewards Program

When customers ‘display financial responsibility’, they receive endorsements on their MoneyLion accounts.

These endorsements will help them earn rewards such as gift cards to stores such as Starbucks, Amazon, or Walmart.

They can also receive discounts on their loan APR which can be up to 15%.

Customers can display financial responsibility in the following ways:

  • Verifying their identity by confirming their email address or phone numbers and confirming their social profiles to prevent fraud.
  • Making sure they make loan payments on time.
  • Avoiding late fees, increasing saving by 5%, viewing net worth, connecting bank accounts and credit cards, amongst many others.
  • Increasing credit scores or making sure credit utilization is below 10%.
  • Writing reviews and getting upvotes on such reviews.

What is MoneyLion Plus?

MoneyLion Review: Is it a Scam or Legit?

This MoneyLion review shows that MoneyLion is a wonderful choice for people who want to improve their financial situation, but cannot due to high-interest loan rates and many others. It helps them take control of their financial lives and improve their savings.

About the author

Brian Meiggs
Brian Meiggs is a personal finance expert, and the founder of My Millennial Guide, a personal finance site helping you put more money in your pocket. He helps millennials follow the smart money in order to increase their earning potential and start building wealth for the future. He regularly writes about side hustles, investing, and general personal finance topics aimed to help anyone earn more, pay off debt, and reach financial freedom. He has been quoted as a top personal finance blogger in major publications including Yahoo! Finance, NASDAQ, Discover, MSN Money and more.
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  1. Thanks for writing such a Great Article on MoneyLion Reviews 2019 – Is it a Scam or Legit?
    – My Millennial Guide
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Bottom Line:

MoneyLion is a mobile personal finance and lending app that helps customers get in control of their finances by providing them with tools that help them track their spending, saving, and credit usage.