A financial roadblock arising between paychecks? Unexpected auto repairs or costs can leave you in a bind. In such cases, finding the best cash advance in Iowa can be a real lifesaver. Cash advance applications have become a saving grace. Upon approval of your loan application, your bank account is credited practically immediately.
Most cash advances are issued to provide short-term convenience. However, interest rates may increase if the loan isn’t paid in full by the deadline. Cash advance apps have emerged as a potential solution.
Top 10 Cash Advance Apps in Iowa
But with many options, choosing the right one can be difficult. Let’s go into the details of 10 popular apps in Iowa. The Midwestern state of Iowa is between the Mississippi and Missouri rivers. It is renowned for having cornfields and undulating grasslands as its landscape.
Beem
Beem takes a straightforward approach, offering instant cash advances to bridge short-term gaps. Here’s a closer look:
Interest Rate
Beem avoids mentioning traditional interest rates. However, they do have a membership fee structure.
Subscription Fees
Beem operates on a monthly membership plan. Different tiers have varying fees, each unlocking a specific maximum advance amount. For example, a basic plan might have a lower fee but a smaller advance limit, while a premium plan could offer a higher fee and a larger maximum advance.
How Much You Can Get
The amount you can access with Beem depends on your chosen membership plan. Limits typically range from $50 to $300.
Features
Beem keeps things simple, focusing on the core functionality of providing instant cash advances. They do offer basic budgeting tools and transaction tracking within the app.
Pros
Straightforward process, instant access to funds, potential for larger advances with higher membership tiers.
Also Read: Is Beem Cash Advance Legit?
Step
Step positions itself as a mobile banking solution with a unique twist – built-in cash advances called “Early Pay.” Here’s what Step offers:
Interest Rate
Similar to Beem, Step avoids traditional interest rates.
Subscription Fees
Step offers a free basic account with limited features. You can upgrade to a premium membership that unlocks unlimited “Early Pay” advances, budgeting tools, and other perks for a monthly fee.
How Much You Can Get
“Early Pay” advances with Step depend on your direct deposit history and range from $20 to $300.
Features
Beyond advances, Step is a mobile bank, offering features like checking accounts, debit cards, and bill pay (premium only). They also provide budgeting tools and financial insights to help you manage your money better.
Pros
Potential for fee-free advances with direct deposit (free account), combined features of a mobile bank and cash advance app, and budgeting tools.
Cons
Limited advance amount compared to some competitors, potential subscription fees for full functionality.
Current
Current takes a different approach, offering a debit card with cash back rewards and the option for on-demand cash advances. Let’s see how it works:
Interest Rate
Current avoids traditional interest rates.
Subscription Fees
A current account has a single monthly fee, which unlocks all features, including cash back rewards and on-demand advances.
How Much You Can Get
On-demand advance amounts with Current are determined based on your spending activity and can be up to $200.
Features
Current functions as a debit card with a focus on earning cash back rewards on everyday purchases. They also offer on-demand advances, free ATM withdrawals within their network, and financial tools to help you manage your money.
Pros
Potential to earn cash back rewards, convenient on-demand advances, budgeting tools, and all features included in one subscription fee.
Cons
Mandatory monthly subscription fee, advance amounts might be lower than some competitors.
Upgrade
Upgrade positions itself as a comprehensive financial platform offering a cash advance feature alongside credit-building tools. Here’s a closer look:
Interest Rate
Upgrade offers a variable APR (Annual Percentage Rate) that depends on your creditworthiness. Rates can range from around 6.99% to 35.99%.
Subscription Fees
There are no mandatory subscription fees for accessing cash advances. However, Upgrade offers a premium membership option with additional benefits like credit monitoring and identity theft protection for a monthly fee.
How Much You Can Get
Cash advance amounts with Upgrade can vary significantly depending on your creditworthiness and income. Limits typically range from $500 to $10,000, offering more flexibility than some competitors.
Features
In addition to cash advances, the Upgrade provides credit monitoring tools, a secured credit card to help build credit, and optional bill pay services.
Pros
Potentially larger advance amounts, credit-building tools, and optional bill pay services.
Cons
Interest rates can be high depending on creditworthiness, and no instant advance option exists.
Gerald
Gerald takes a unique approach, offering cash advances specifically for essential household purchases. Let’s see what they have to offer:
Interest Rate
Gerald claims to have no interest rates or hidden fees. They achieve this by categorizing their advances as point-of-sale financing for essential purchases made through their app.
Subscription Fees
There are no subscription fees associated with using Gerald.
How Much You Can Get
Advance amounts with Gerald are typically capped at $300 per purchase.
Features
Gerald lets you shop for essential household items directly within their app, including groceries, phone plans, and bill payments. You can then pay for these items in an interest-free advance. They also offer a rewards program where you can earn points towards future purchases by paying back your advances on time.
Pros
Potentially interest-free advances, focus on essential purchases, and a rewards program.
Cons
Limited advance amounts and restricted use for specific purchases within their app.
Klover
Klover stands out for its gamified approach to cash advances and its focus on community building. Here’s a breakdown:
Interest Rate
Similar to Upgrade, Klover offers a variable APR that depends on your creditworthiness. Rates can range from 5.99% to 35.99%.
Subscription Fees
Klover has a free basic tier with limited features. They offer a premium subscription option called “Klover+” with additional benefits like higher advance limits and faster processing times for a monthly fee.
How Much You Can Get
Free tier users can typically access advances up to $100. Upgrading to Klover+ can unlock higher limits, potentially reaching $500. You can also earn points through the app’s “Spuert” feature, which allows you to increase your advance limit over time.
Features
Klover incorporates gamification elements to encourage responsible spending habits. You earn “Spuert” points for completing financial tasks and timely repayments, which can be used to boost your advance limit. They also offer a “community” feature that allows you to connect with other Klover users for support and financial tips.
Pros
Lower interest rates for users with good credit, gamification elements promote responsible spending, and community features for support.
Cons
Limited advance amounts for free tier users and potential subscription fees for higher limits.
Also Read: Apps like Klover – 15 Best Alternatives for Klover
Dave
Dave positions itself as a full-service mobile bank with a built-in cash advance feature called “ExtraCash.” Here’s what Dave offers:
Interest Rate
Dave avoids mentioning an interest rate for advances. However, they may charge a small fee for instant advances, typically less than $10.
Subscription Fees
Dave has a free basic account with limited features. To unlock ExtraCash advances and perks like budgeting tools and side hustle recommendations, you’ll need a premium membership for a monthly fee of $1.
How Much You Can Get
ExtraCash advances with Dave can range from $50 to $100, depending on your banking history and income.
Features
Dave is a complete mobile bank, offering features like checking accounts, debit cards, and bill pay. Their budgeting tools can help you manage your cash flow more effectively.
Pros
Affordable monthly fee, potential for larger advances with good banking history, full-service banking features (premium only).
Cons
Limited advance amounts for free users and potential fees for instant advances.
Possible Finance
Possible Finance focuses on offering cash advances while also helping you build credit. Here’s a breakdown:
Interest Rate
Possible Finance avoids traditional interest rates. Instead, they have a transparent fee structure with a one-time fee based on the amount borrowed.
Subscription Fees
There are no monthly subscription fees with Possible Finance.
How Much You Can Get
Possible Finance offers advances ranging from $50 to $500, even with bad or no credit history.
Features
They focus on building your credit score with on-time payment reporting to major credit bureaus. They also offer budgeting tools and financial education resources.
Pros
Interest-free advances (through a one-time fee), credit building benefits, and budgeting tools.
Cons
Potential for higher upfront fees than traditional interest rates on larger advances.
CashNetUSA
CashNetUSA is a more traditional cash advance lender. Here’s what to expect:
Interest Rate
CashNetUSA does disclose Annual Percentage Rates (APR), which can vary depending on your location and loan amount. Typically, APRs for cash advances can be high.
Subscription Fees
CashNetUSA does not charge monthly subscription fees.
How Much You Can Get
Cash advance amounts with CashNetUSA vary, but typically range from $100 to $1000.
Features
CashNetUSA offers a straightforward application process and fast approval times.
Pros
Potentially larger advance amounts, fast approval times.
Cons
High APRs can lead to expensive borrowing, and limited features compared to other apps.
Spotloan
Spotloan caters to those who might need a larger cash advance. Here’s a glimpse into what they offer:
Interest Rate
Similar to CashNetUSA, Spotloan uses APRs that can be high.
Subscription Fees
There are no monthly subscription fees with Spotloan.
How Much You Can Get
Spotloan offers advances ranging from $300 to $800, potentially larger than other options we’ve discussed.
Features
Spotloan offers a relatively quick and easy application process.
Pros
The most significant advancement of the four options is the fast approval times.
Cons
Potentially the highest borrowing costs due to APRs, limited features
Conclusion on Best Cash Advance in Iowa
The majority of businesses that provide cash advances have strong security protocols, which are essential for safeguarding your private data. To guarantee the security of your information, pick a reliable and trustworthy money lender. Platforms like Beem also prioritize safety and transparency, making them a dependable choice for cash advances.
