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MoneyLion Review
In this MoneyLion review, we'll discuss the many features of this mobile banking and financial membership platform. With more than six million members, MoneyLion offers an extensive suite of financial products. Its mobile app gives you a 360-degree financial snapshot and a wealth of tips and tools for managing your finances. Whether you're interested in a secured credit card, checking account, or credit counseling, you'll find that MoneyLion has a lot to offer.

MoneyLion is an online bank
MoneyLion is an online bank with a unique focus on a consumer's financial needs. With over 14.5 million connected bank accounts and $590 billion in transaction volume, MoneyLion is able to predict consumers' money needs and offer the optimal balance of financial and non-financial products. With an online bank's deep understanding of its customers, MoneyLion understands how to best provide the appropriate amount of credit while extending customer lifetime value.

In addition to offering a free checking account, MoneyLion offers a debit card with a 0% APR cash advance. Customers can use the platform to transfer funds between accounts and earn cashback rewards. There are no monthly fees, no overdraft fees, and no minimum balance requirement. MoneyLion offers free credit monitoring and instant 0% APR cash advances up to $250. Customers can also invest in funds through their investment accounts, which earn a 2.56% annual return.

It offers a secured credit card
If you have been wondering how to obtain a secured credit card without having a good credit history, MoneyLion has a simple solution for you. Its overtime feature is a buy-now-pay-later service. Just like a credit card, the Overtime service lets you buy a product, pay $25 up front, and then make three installments of $25 each. With the overtime service, you can borrow up to $600 at 0% APR. It also comes with no monthly fees or interest. The only downside is a soft credit check, which will not have a negative impact on your credit report.

Choosing a secured credit card is an excellent way to build good credit and stay within the ideal percentage range. You can switch to an unsecured version of the card after certain months if you can stay current on payments. Ultimately, this method will take less time than waiting for your credit score to increase. MoneyLion also offers credit building features and a secured card. If you're looking for a credit card that offers plenty of benefits, MoneyLion is the perfect choice.

It offers a checking account
Using MoneyLion's debit card and free checking account, you can quickly and easily manage your money. Unlike traditional credit card cash advances, which typically come with a two to five percent fee and a high APR, MoneyLion's cash advances carry no fees. The interest also begins accruing immediately. MoneyLion also offers a free credit monitoring service and an investment account that earns 2.56% a year.

MoneyLion was founded by Diwakar Choubey, who previously worked on Wall Street in senior positions at Goldman Sachs, Citadel, and Barclays Capital. Other members of the MoneyLion team include Pratyush Tiwari, chief information officer, and Chee Mun Foong, chief technology officer. Jon Stevenson serves as head of the banking division. The company has four offices worldwide, including New York and San Francisco.

It offers credit counseling
For people with high debt profiles, MoneyLion is a great way to get free credit counseling. The website also offers low-interest personal loans and interest-free credit. MoneyLion also provides mortgage refinancing options and innovative equity co-investment. Although the company's mission and service are admirable, the company does face its fair share of challenges. Nevertheless, it offers valuable information that consumers can use to make a good decision about their personal finances.
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