What is the Credit Reserve Account?

Based on our review of your finances in your linked checking account, we may split your $500 funding between your checking account and a Credit Reserve Account. This can help you save while you help build your credit! 

If part of your $500 Credit Builder Plus loan is deposited in a Credit Reserve Account, this account will be in your name, and you’ll be able to see it in the Finances tab of the MoneyLion app. When you pay off your loan, you’ll get the cash sent to your checking account. While you help build your credit, you can dream about what you’ll spend it on!

Your Credit Reserve Account is an interest-bearing account managed by MoneyLion’s SEC-registered investment adviser, ML Wealth, LLC, and held by Drivewealth LLC, member SIPC and FINRA, and the funds in this account will be placed into DARXX, a Dreyfus Securities Cash Management vehicle, which may generate interest at prevailing market rates. 

You will not be able to access the funds in your Credit Reserve Account until you have paid off your Credit Builder Plus loan, and so long as your Credit Builder Plus membership payments are current. The Credit Reserve Account is not a transaction or trading account. If you default on your loan, your Credit Reserve Account may be liquidated to partially or fully pay off what you owe.

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