The Best Mobile Apps & Programs For People With Bad Credit
Christina Rodgers
Struggling with your FICO Score can be exhausting. It can feel like a brick wall standing in the way of so many things: home financing, car loans, credit cards, and more.
Because we need to worry about so many things right now, we should focus on easy solutions that take little effort. Check out these must-have mobile apps and programs that can take the stress off of having bad credit:
1. This Lending Service Is Great For Emergencies
Finding the right personal loan and getting approved can take months. Who has months to wait for a loan? That’s why Even, the leading search, comparison, and recommendation engine for financial services, created “Fiona.”
Fiona is the fastest, easiest, most comprehensive way to search loans and savings accounts from the top providers. By filling out a simple form, Fiona checks if you are pre-approved and gets the best offers from the top providers for you in seconds so that you can get instantly matched with the right personalized recommendation all in one place. You can borrow as little as $1,000 and as much as $100,000, with loan terms of up to 7 years. The interest rate you’ll pay will depend on your creditworthiness. Checking your interest rate will not affect your credit score. It will take you less than 60 seconds to apply.
2. This Loan Service Isn’t Worried About Your FICO® Score
Founded in 1999, AmOne has grown to become one of the nation’s largest financial assistance companies for people looking to make a large purchase, consolidate their debt, or make a needed home repair. AmOne advisors will help you understand your current financial situation and tailor a solution that best fits you. AmOne advisors can also assist you in applying for a debt consolidation loan, large purchase, or home repair up to $50,000.
They can assist you in getting the right solution that is tailored to your needs even if your FICO Score is in the 495-595 range. Remember, AmOne is more concerned about why you need the loan. APRs will vary based on your individual needs, but they can start at as low as 3.99% APR. Note: Checking your interest rate with AmOne will not affect your credit score.
3. If You’re In A Tight Spot, This Company May Offer You $4,000 Line Of Credit
Seedfi is doing its best to help families affected by the pandemic by offering people a path to better credit and savings. The Credit Builder Plan allows you to open a savings account that builds your credit score.
When you start your plan you are actually “loaning” yourself money each month. You set the amount and you pick the timeframe (six months or up to two years). There are NO upfront credit checks and all your payments are reported to all 3 credit bureaus. When you’re finished you’ll have a saving account and possibly a 45** point credit score increase.
Plus if you’re in a tight spot and need some extra money, SeedFi has an answer for that as well. Their Borrow & Grow Plan allows you to access up to $4,000 while also building your credit.
Your SeedFi account is FDIC insured like at any bank. If your goal is to get your credit on the right track, you must try SeedFi!
4. This App Could Help You Earn An Extra $5,500 This Year
Steady is the king of all side hustle apps. In one app you can find flexible, part-time, and even full-time work. They also let you track your earnings and provide easy “income booster” opportunities tailored to you.
The idea originated when founder Adam Roseman saw his dad struggling to make ends meet when he retired. Adam knew his dad needed something part-time, but he didn’t have the resources to find work for himself.
From then on, Steady has aimed to help millions of Americans find jobs to suit their needs. You can use it to supplement retirement income, start a side hustle to earn extra money, or do something full-time from home.
Steady members earn an extra $5,500 a year. Now that’s some serious coin.
5. Buy Amazon Stock For Just $1.00 - With No Credit Checks
Everyone shops on Amazon! So, owning stock in one of the largest corporations in the world could be a great long-term investment, right? Stash is an app that allows you to start investing* in the stock market with just $1. By purchasing fractional shares in any public companies like Amazon, Netflix, Ford, Apple, Kroger, or Walmart, anyone can afford to build real wealth at a price they can afford.
You can build a diversified portfolio with very little money. A Stash Invest account allows you to invest with as little as $.05 cents. When you open a Stash Invest account and deposit at least $5, Stash will give you a bonus of $5 to invest.
6. Apply For An Auto Loan After You Join This Credit Union Even With Bad Credit
Why pay more to finance a car if you don’t have to? Credit unions were founded on the philosophy of people helping people. Consumers Credit Union (aka CCU) has been serving customers for nearly 100 years. Unlike other credit unions, it’s unique that anyone can join, regardless of where you live or work. CCU has over 1,800 Service Center branches nationwide.
CCU offers some of the most competitive auto loan rates in the nation, even for people with bad credit. Credit unions, like CCU, are more forgiving with their lending requirements than banks and other lenders. CCU even allows some borrowers to finance the total purchase amount with no down payment. Plus, you will get 24hr mechanical/emergency repair coverage.
Expert Tip: If you open a “Membership Share/Savings Account” with just a $5.00 deposit, CCU may provide you with up to 0.5% rate reduction on your auto loan.
Being a member starts your relationship and can provide you access to mortgages, credit cards, or student loans at lower APRs. Checking your rate now will NOT affect your credit score! Rates start as low as 2.6% APR.
7. Get Double Credit Limit With This Platinum Visa Credit Card
The Merrick Bank Double Your Line™ Visa® Credit Card does MORE than just live up to its name. True to its name — Merrick Bank Double Your Line™ Visa® Credit Card - will double your initial line of credit if you make at least your minimum payment for the first seven months your account is open.
For example, if you start with an initial credit line of $500 and you make seven on-time minimum payments, then your credit line may increase to $1,000. Why is this important? This can lower your credit utilization, which has a positive effect on your credit score.
Based on your credit history, the Merrick Bank Double Your Line™ Visa® Credit Card could have a 20.45% to 29.95% APR. There is also a one-time setup fee and annual fee as well.
You can Pre-Qualified in less than 60 seconds without harming your credit score. Credit lines range from $550 - $1,250 which could double to $1,100 - $2,500.
8. This App Can Instantly Boost Your FICO® Score
Register for Experian Boost™ and watch your FICO® Score take off. Experian Boost™ is a free app by one of the largest credit reporting agencies on the planet.
All you have to do is sign up and verify that you have been paying your bills on time (cell phone bill, streaming services like Netflix, cable bill, or other utilities), and you could get an INSTANT credit score boost. Plus, it’s FREE! There’s no easier way to improve your credit. Nora got a 47 point boost. Results will vary, see Experian’s™ website for full details.
9. Stop Paying Fees To Your Bank With This Cash Back Card
Aspiration is an online-only bank offering most of the services your big bank does, without any of the fees.
What doesn’t it offer? First off, the Aspiration Summit Checking Account has NO monthly fees. There are zero minimum balance fees, overdraft fees, and ATM fees when you use your Aspiration Bank Debit MasterCard. Your debit card also gets you 0.5% cashback on all purchases - making it a cash-back-card!
The Aspiration Bank Summit Account is an interest-bearing checking account that you can open with as little as $10. According to the bank’s website, the account earns an APY of 1%, which is up to 100 times better than the interest rate offered at big banks. Open your account to boost your score and save on fees!
10. Make Extra Cash To Pay Off Debt By Filling Out Surveys
Turn your internet browsing into cash! Swagbucks allows users to share opinions and their internet surfing habits for real cash. Swagbucks gives out over 7,000 gift cards a day to its members for stores like Amazon, Walmart, Target, and more just for surfing the web and watching videos. Or, you can have cash sent straight to your PayPal account.
A Swagbucks user in Pennsylvania, 52-year-old Carolinda Hendrickson, earned $1,200 in a year. It’s easy to make an extra $5 in one day by watching a few videos. That translates to some serious extra cash in your pocket each month.
*Paid non-client endorsement. See Apple App Store and Google Play reviews. View important disclosures. Investment advisory services offered by Stash Investments LLC, an SEC-registered investment adviser. This material has been distributed for informational and educational purposes only and is not intended as investment, legal, accounting, or tax advice. Investing involves risk. This material is not intended as investment advice and is not meant to suggest that any securities are suitable investments for any particular investor. Investment advice is only provided to Stash customers. The offer is subject to Promotion Terms & Conditions.
** SeeFi customers with fewer than 3 tradelines have seen an average increase of 45 points after 6 months of on-time payments.