MoneyLion Credit Builder Plus

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Improve Your Credit Score
The MoneyLion Credit Builder Plus membership provides access to a credit builder loan of up to $1,000 that gives you the opportunity to make on-time payments, which may help your credit score.
Maximum Loan Amount
Loan Payment Term
Up to12 months
Credit Builder Plus Membership
Average Rating Click here to show the sources used to calculate this average rating.


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Product Name

MoneyLion Credit Builder Loan Plus for people looking to improve or build credit score

Credit Builder Loan Description

You receive some of the loan proceeds soon after you are approved for a Credit Builder loan. The rest of the proceeds are held in a Credit Reserve Account. When you pay off your full loan amount (which includes the amount given upfront, the amount in your Credit Reserve Account, and any interest accrued), you will be able to withdraw your money saved in the Credit Reserve Account. (3)

Credit Reporting

Monthly reporting of loan payments to the three major credit bureaus (Experian, TransUnion, and Equifax)

Credit Monitoring

Credit monitoring tools provide weekly updates on key credit score factors such as credit utilization.

Lion’s Share Loyalty Program

Get rewarded for actions such as logging into your account. These rewards add up to $19.99/month, enough to pay back the monthly membership fee. (1)

Credit Score Impact

MoneyLion does a soft credit pull to see if you apply for the loan. This pull will not affect your credit score. More than half of MoneyLion members raise their score by 42+ points in 60 days. (2)

Successfully paying off a MoneyLion Credit Builder loan is designed to help you improve your credit score, which could help you secure lower interest rates in the future. We’ll share information about how the Credit Builder loan works.

What Is A MoneyLion Credit Builder Loan?

The MoneyLion Credit Builder loan is designed to help members build their credit history. The maximum loan amount is $1,000, and you will receive some of the funds soon after you are approved for the loan. The remaining funds get stored in a Credit Reserve Account. MoneyLion users must become Credit Builder Plus members to obtain this loan. The membership costs $19.99/month, with opportunities to claim rewards that will allow you to recoup the monthly fee. (1)

Why Apply For A MoneyLion Credit Builder Loan?

  • Help increase your credit score: Payment history makes up 35% of your credit score4. Making on-time payments may lead to a higher score. Everyone can benefit — even if you have a score of 750.
  • Get Financing Without a Hard Credit Check: Some loans come with a hard credit check, which will hurt your credit score. MoneyLion only does a soft pull on your credit — which doesn’t affect your score. (5)
  • Competitive APR on the Loan: The APR for a Credit builder loan ranges from 5.99% to 29.99%. When you apply, you will be able to review your loan amount and rate, as well as your loan Agreement, before deciding whether to accept the loan offer.
  • 0% APR Cash Advances: As a Credit Builder Plus member, you also may qualify for up to $300 in 0% APR cash advances via InstacashSM.

How Credit Builder Loan Programs Work

Credit builder programs can help people build credit over several months. These loans offer small amounts to be paid off over relatively short terms. Borrowers receive a portion of the loan amount after being approved for the loan. The other portion (which is often the larger amount) is deposited into a Credit Reserve Account where it may earn interest. The borrower gains access to that portion after the entire loan is paid off. Credit builder programs, by helping you take steps to increase your credit score, may help you qualify for credit cards, mortgages, and other opportunities.

Key Features Offered by MoneyLion

Monitor Your Credit

Credit affects so many areas of your life — from loans to insurance to housing — so establishing a good score is essential. You can monitor your credit score and key credit factors like your credit utilization Credit Builder Plus, and your information is updated weekly.

Track Your Progress

With a MoneyLion feature called Financial Heartbeat, you can monitor your personal finance steps and overall financial health and achieve new goals.

0% APR Cash Advances

MoneyLion offers 0% APR cash advances through Instacash, and qualified Credit Builder Plus members can get a larger advance. Receive up to $300 to cover emergency expenses or other costs.

Lion’s Share Loyalty Program

With the Lion’s Share Loyalty Program, the more you use your membership, the more you can get back. To be eligible, you must be a Credit Builder Plus member and have an active RoarMoney℠ account and MoneyLion Investment Account. The program has four tiers — Bronze, Silver, Gold, and Platinum. Your program tier is determined at the end of each month based on:

  • How many days you have logged into the MoneyLion app that month
  • How many qualified purchases of $10 or more you made that month with your MoneyLion Debit Mastercard® and/or RoarMoney virtual card

The program has four tiers:

  • Bronze: Get $2 back
  • Silver: Get $5 back
  • Gold: Get $10 back
  • Platinum: Get $19.99 back

Each tier has two requirements:

  • Bronze: 1-4 purchases and 5-9 days of logins
  • Silver: 5-9 purchases and 10-14 days of logins
  • Gold: 10-19 purchases and 15-19 days of logins
  • Platinum: 20+ purchases and 20+ days of logins

You must fulfill both requirements to qualify for the tier. If you log in more than 20 times this month but only make seven purchases, you will qualify for the Silver tier. Lion’s Share Loyalty rewards will be deposited into a MoneyLion Investment Account, which requires additional qualifications.

MoneyLion Credit Builder Plus FAQs

We’ll answer some common questions about MoneyLion’s Credit Builder Plus membership.

How Do You Qualify For Credit Builder Plus?

MoneyLion has the following prerequisites for loan applicants. Applicants must:

  • Be 18 years or older with a social security number
  • Be a U.S. citizen or permanent resident
  • Have a checking or spending account
  • A checking or spending account in good standing (at MoneyLion’s discretion) with a detectable income stream (i.e. it’s where you deposit your paychecks/salary/benefits checks).
  • The account has been open for at least 60 days.
  • The account demonstrates an acceptable balance and active transaction history (at MoneyLion’s discretion).

MoneyLion will do a soft pull on your credit5 if you fulfill those requirements. You don’t need a credit history to apply.

How Much Does Credit Builder Plus Cost?

The Credit Builder Plus Program costs $19.99/month. However, you can earn back the monthly fee with the Lion’s Share Loyalty Program.

What Is The Lion’s Share Loyalty Program?

The Lion’s Share Loyalty Program offers rewards to members based on their logins and purchases. With the Lion’s ShareSM Loyalty Program, the more you use your membership, the more you can get back. To be eligible, you must be a Credit Builder Plus member and have an active RoarMoney℠ account and MoneyLion Investment account.

How To Explore MoneyLion Credit Builder Plus

You can download the MoneyLion mobile app on your favorite device and create an account today. In addition to being able to apply for a Credit Builder loan, Credit Builder Plus offers many more features:

  • Credit monitoring tools in the app to track your credit score and key credit factors. You will also receive credit score updates directly to your email each month.
  • No-hassle lending for members in good standing — once you pay off your Credit Builder loan, you can apply for another installment loan of up to $1,000. All you have to do is log on, apply for the loan, sign your new loan agreement if you are approved, and you’ll typically receive your funds within 3 business days!
  • Higher limits for 0% APR Instacash advances.
  • Monthly Lion’s Share Loyalty Program payouts up to $19.99 / month.
  • If you’re a Credit Builder Plus member in good standing, MoneyLion will waive the $1/month administrative fee for access to a RoarMoney account or a MoneyLion Investment Account (or both), as applicable. (1)
  • Access to PerkSpot — a one-stop shop for personalized online discounts at your favorite brands. Use it to find must-have deals in over 25 categories like restaurants, entertainment, fitness, and more. Plus, you can browse thousands of discounts 24/7 on the device of your choice, enjoy new discounts updated daily, find local deals with an easy-to-navigate map, and request customized discounts if you can’t find the category you want.

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