Varo is one of the most popular banking apps with a cash advance feature; hence, it allows users to access cash advances as part of its banking services. So, most people are always in need of cash advance apps that work with Varo.
Although there are lots of cash advance apps, not all work with Varo. So, most of the cash advance apps have different principles from Varo; hence, they cannot work together. In this guide, we have succinctly pinpointed the best cash advance apps that work with Varo. So, if you want to know the best cash advance apps that work with Varo and their unique features, then this guide will be of immeasurable help to you.
Best Cash Advance Apps That Work With Varo
Some of the best cash advance apps that work with Varo are listed below, with their special features attached. They are:
1. Opploans
Opploans is one of the popular cash advance apps that works with Varo. So, if you need a personal loan but have bad credit, Opploans has you covered. They not only offer cash advances to borrowers with bad credit; they also give out loans without a credit check.
Oppo’s interest rate is a bit competitive when compared with other payday loans. This cash advance app reports your repayment details to the major credit bureaus, which are TransUnion, Equifax, and Experian. So, if you keep to their loan terms and repay your loan on time, you will be able to build your credit score. However, if you default on your payment, your credit score will be affected. Hence, ensure that you stick to the loan term.
Opploans application is simple since the application process can be completed online; hence, there is no need for endless paper work as there is in conventional lending systems. Also, the loan approval process is swift, and the turnaround time is the same day.
Loanable amount: The loan amount that a borrower can take from Opploans is not fixed; it varies. Existing borrowers are liable to borrow a higher amount of money than new customers. The loan amount that a borrower can take from Opploans ranges from $500 to $4,000
Loan Tenure: The repayment plan of Opploans is flexible; it is designed to enable borrowers to repay the loan without breaking the bank. The loan term ranges from 9 – 18 months.
However, it is important to note that the longer the repayment plan you choose, the higher the interest rate it will incur, and vice versa.
Interest Rate: The Annual Percentage Rate (APR) of Opploans may be up to 160%. This interest rate is not fixed; it varies depending on the loan amount taken and repayment plan chosen.
Pros
- There is no credit check
- Bad credit is allowed
- Help build a credit score
- Prepayment is also allowed
Cons
- Your bank account must be at least three months old
- Your income source must be a direct deposit.
2. Cleo
Another cash advance app that works with Varo is Cleo, which is a household name in the cash advance sector. One good feature that differentiates Cleo from other cash advance apps is that it allows borrowers to take another cash advance just one day after they have repaid their previous loans.
So, after 24 hours of repaying your Cleo loan, you can request another cash advance, which will be given to you. Additionally, Cleo allows you to reschedule your repayment date if you have issues repaying your cash advance.Â
However, as a new borrower, you won’t be able to access a higher loan amount, so if you need a higher cash advance on this platform, you will need to subscribe to their program by paying a monthly fee of $5.99. Also, if you need same-day cash disbursement, you will need to pay an express fee of $3.99.
Loanable Amount: The loan amount that a borrower can qualify for at Cleo ranges from $20 – $250. Subscribed members are liable to access a higher loan amount.
Loan Term: Not stated. Cleo is best for those who borrow frequently.
Interest Rate: Not fixed
Pros
- A loan repayment extension is available
- A new cash advance is allowed after one day of repayment.
Cons
- There is express fee for same-day cash disbursement
- There is a monthly subscription fee.
3. Klover
Klover is another popular cash advance app that works with Varo. With Klover, users can get up to $150 in cash advances. They also provide an avenue where users can earn up to $50 by just performing simple tasks, like scanning receipts, watching ads, and making data available for researchers who conduct market research anonymously. So, users of Klover can get a cash advance of up to $150 and earn an extra $50, totaling up to $200.
Klover has similar principles as Varo, since their Balance Boost cash advance is closely related to Varo’s advance program.
Unlike other cash advance platforms that may charge an interest fee on their cash advance or a membership fee to access additional features, Klover doesn’t charge any fees. However, Klover may charge an outrageous express fee (up to $12.49) if you need your cash advance disbursed instantly. However, there is no fee attached if you can wait for their normal turnaround time, which is about three days.
Additionally, you can also decide to join Klover’s financial management service, which comes with a monthly subscription of $3.99. Meanwhile, without joining this membership program, you can also access all the financial services and bonuses that Klover offers.
Loanable Amount: Klover’s users can access up to a $200 cash advance.
Loan Term: Not revealed
Interest Rate: None
Pros
- There is no credit check
- There are earning programs to increase your cash advance
- There is no membership fee required
Cons
- The cash advance amount is relatively small
- Their same-day express fee is high.
4. Dave
When you need a cash advance app that works with Varo, which can analyze your spending pattern and guide judicious spending, then Dave is an option to consider. Dave offers a relatively higher cash advance limit when compared with Varo.
However, to access all the potential features of Dave’s platform, you will need to pay a monthly membership fee of $1. To get a cash advance instantly at Dave, you will need to pay an express fee ranging from $1.99 to $13.99, depending on your cash advance amount. However, if you can wait for their normal cash advance turnaround time, which is about 4 days, you won’t pay any fees.
Loanable Amount: Can access up to $500 cash advance
Loan Term: Not revealed
Interest Rate: Not fixed.
Pros
- The cash advance amount is relatively high
- Access to free credit builder for 12 months
Cons
- There is a membership fee
- There is an express fee for instant cash advance disbursement
5. MoneyLion
When it comes to helping borrowers build financial independence, the MoneyLion cash advance app is among the leading players. MoneyLion offers a similar financial guide to their users, like that of conventional banking, and they have accounts to help you build your finances.
MoneyLion has different accounts, like a crypto account, an investment account, debit card rewards, and a credit builder loan, to enable their users to achieve financial success. So, MoneyLion not only offers cash advances; they also provide financial guidance to borrowers. Their cash advance limit is higher than Varo, around $500, and you can also access additional cash advance amounts (i.e., $300 to $500) if you open a RoarMoney account with them or join the MoneyLion Credit Builder Plus program.
The MoneyLion cash advance turnaround time may be up to 5 days. However, if you want instant cash advance disbursements, you will need to pay express fees.
- Loan Amount: The loan amount you can access from MoneyLion ranges from $50 to $500.
- Loan Repayment: Not stated
- Interest Rate: Not fixed
Pros
- The cash advance limit is relatively high
- Additional cash advance for those with a RoarMoney account.
- Financial guidance is available for those who need it.
Cons
- There is fee for instant cash advance disbursement
- There is relatively small cash advance limit for new users.
6. Empower
With the Empower cash advance app, borrowers can access up to $250 between paydays. Additionally, you can also get free instant Empower debit card delivery service when you accept funds onto it.
However, one good feature of Empower is that it allows users to choose the repayment date that is suitable for them, and they also offer the option to reschedule it without late fees should you encounter any financial challenges.
For instant cash advance disbursement, Empower charges an $8 express fee, but for their standard delivery, which takes up to a day or more, you won’t be charged any fee. Also, they allow users to enjoy a two-week free trial of Empower’s features, after which they will be charged an $8 monthly subscription for enrollment.
Loanable Amount: Up to $250
Loan Tenure: Borrowers set it to suit them.
Interest Rate: Not stated
Pros
- The cash advance limit is relatively high
- Users can fix the repayment plan to suit them
Cons
- There is a monthly subscription fee
- There is an instant cash advance delivery fee
Conclusion
There are cash advance apps that work with Varo. Most of these apps have a similar working principle to Varo, while others have a different mode of operation entirely. Each of these apps has a special feature that makes them unique. Hence, it is important to understand the terms of the platform before opting for their cash advance services.
