Can I access my Credit Reserve Account funds early?

The Credit Builder Plus loan is meant to help you build credit over time by paying off your loan with regular payments. But if you're in need of funds, and your 0% APR Instacash advances aren’t enough to cover your needs, we can offer another solution to help you out.

You can use the money in your Credit Reserve Account to pay your loan in full (as long as the amount in your Credit Reserve Account is greater than your outstanding balance), and then you can take out a new Credit Builder Plus loan. With the new loan, you’ll be guaranteed to receive at least the same amount of cash up front as you did with your prior loan, and you’ll likely be qualified to receive more cash up front than you did before, with less of your $500 loan held in your reserves.

Many lenders aren’t this flexible, but we strive to make it as easy as possible for you to meet all your financial needs: cash flow, credit building, and saving.

Here’s an example of how it could work:

Say you received $75 in your checking account and $425 in your credit reserve account when you got your $500 Credit Builder Plus loan. Since then, you’ve made a few payments on your $500 loan, but you still owe about $400. 

You could apply the $425 in your Credit Reserve Account to your outstanding loan balance and have the loan marked “paid in full.” We’ll put the extra $25 in your MoneyLion Checking account. Then you could immediately take a new Credit Builder Plus loan, and we’d likely qualify you to get more than $75 in your checking account on this round. 

You could continue this cycle to help build your history with us and your credit, and each time you can potentially get more cash disbursed to your checking account and less saved in your reserves. Keep going strong, and you could eventually qualify for the full $500 straight into your checking account with nothing allocated to your Credit Reserve.


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