Where to Get a $50 Loan Safely?

It can be quite frustrating when you're missing $50 for a purchase or urgent expense. That's when cash advance apps can come in handy. But are these tools real or safe? The good news is that there are legitimate services like ASAP Finance that give you an instant $50 loan with minimum requirements. Still, not all apps are created equally.

Before giving out your personal information, check the lender's reputation online as this can help you make a safe and informed decision. To make things easier for you, ASAP Finance provides all the possible ways to borrow $50 instantly.

Top $50 Loan Instant Apps

Each $50 loan instant app comes with a set of advantages, disadvantages, and unique features. Below is the list of the most popular services that can help you borrow $50 with bad credit in no time.

ASAP Finance

ASAP Finance is a smart tool that provides quick access to cash via your smartphone in just a few taps. The app is known for quick money deposits and an easy loan process. All you need is to fill out a simple form with your basic personal and financial details. The app will process your data in minutes and give you an instant answer. There’s no credit check involved in the process, allowing you to get up to $5,000 quickly regardless of your credit score.

The service tops the list due to its smart financial solutions offered via a user-friendly interface. You will face no hidden fees or application charges when borrowing money with ASAP Finance. The company also stands for financial literacy and provides multiple tips on personal finance and debt management via its blog.

Earnin

Earnin is a popular financial tool that allows you to borrow small amounts against your future paycheck at no interest. The service charges no mandatory fees and only applies optional ones, so you can only pay a tip that you think is fair or borrow money without being charged any extra costs.

While Earning only offers small amounts based on what you already earned but haven’t yet received, it can be a great way to get quick cash for small expenses without any extra charges. Just note that you will need to pay an express fee if you want to get the funds instantly. These fees range from $2.99 to $5.99, depending on the type of money transfer.

Klarna

Klarna is a great app for people who aim for smart shopping solutions. This tool allows you to compare costs of various items across stores, see exclusive deals offered by retailers, and buy everything you need instantly while paying for your purchase later. Available repayment options include 30 days, 4 flexible bi-weekly installments, or equal monthly payments for longer repayment periods. Plus, you can get a loan with no direct deposit and without a bank account.

The app charges no interest but extra fees may be applied under certain conditions. You can also get a Klarna Credit Card to always have money on a rainy day as close as your wallet is.

PayActiv

With Payactiv, you can easily access a portion of your future paycheck upfront to handle unexpected expenses. This same day pay app offers a digital wallet and financial management tools where you can not only access your pay early but also build better financial habits, create an emergency fund, and get exclusive discounts.

Payactiv is free for those users who directly deposit their paycheck of at least $250 to the Payactiv Visa Card. For everyone else, there's a program fee of $1 on the day you use bank transfer, card load, cash access, bill pay, Uber, or Amazon. It covers all transactions until midnight Pacific Time that day. This fee is capped at $5 per pay period even if you use Payactiv for more than 5 days in a pay period. There's also a $1.99 processing fee only for cash pickup at Walmart stores and instant deposit to other cards.

MoneyLion

MoneyLion is a well-known financial company that offers a wide range of financial services. It provides small loans via its InstantCash tool. With its help, you can borrow up to $250 without undergoing a credit check and paying extra charges on the amount borrowed. If you use IntantCash for the first time, you can only access up to $50. Over time, you will be able to increase your loan amount limit.

Besides this money borrow app, the company also offers a fee-free checking account, investment tools, and tips on building wealth and boosting your financial literacy.

What Loan Can Get You $50 Quickly?

Besides cash advance apps, there are several online loans that can get you $50 quickly.

Payday Loans

These loans are perfect for people who need a small amount of money for a short period of time. Depending on the state, you can get up to $1,000 for a period of 14 to 30 days. The interest is usually expressed as a flat fee between $10 and $30 for each $100 that you borrow.

Payday lenders don't perform hard credit checks so your credit score is safe unless you miss your payments. To qualify, you need to provide valid proof of income like pay stubs or tax returns. If you're not officially employed, you can simply provide your bank statements that demonstrate an alternative source of steady income, and it might be sufficient to get approved.

Employer Advances

You might also be able to get an advance on your paycheck directly from your employer. There are generally no fees or interest as you only get a portion of your future paycheck upfront. However, not all companies offer this option. It often depends on your relationship with your boss and your value as an employee.

Personal Loans

If you need a bigger sum of money to cover a medical emergency or home repairs, personal loans might be a better choice. They typically require a credit score upward of 680. Great credit history might get you interest as low as 5.99% with the cap being set at 35.99% for less-than-perfect credit scores.

Personal loans can offer up to $100,000, which provides a lot of flexibility. The repayment schedule varies, but the terms are generally 12 to 60 months.

Credit Card Cash Advances

Getting a credit card cash advance is the quickest way to obtain a $50 loan. It's important, however, to know that withdrawing cash works differently from regular credit card purchases. You'll start to incur interest immediately due to the lack of a grace period. There is a 3-5% fee for this service along with higher interest rates. For specific information, refer to your credit card agreement.

Payday Alternative Loans

These loans are issued by credit unions to help their members handle unexpected expenses. You can generally get up to $2,000 with a maximum interest of 28% and repayment period of 1-12 months. Although there are no credit score requirements, the credit union will perform a hard credit check. Therefore, this loan will stay on your credit report. You'll also have to wait between 1 and 3 business days for an answer.

Alternatives to $50 Loans

There are even more ways to get some cash. These options require a bit more time and effort, so if you are in a hurry, they might not be the best for you. Here are some extra safe ways you can get $50:

Side Hustle Apps

These apps allow you to take on tasks like completing a survey or doing freelance work and get paid for your activity. The pay depends on the type of work you do. Surveys pay around $1 to $3 per piece while more complex work like freelance design orders or DoorDash pay more.

Medical Repayment Plans

Hospitals and medical providers might offer repayment plans or forgiveness programs for your medical bills. It's typically provided to people who face financial struggles. To benefit from this option, you need to negotiate with the provider and offer valid proof of financial need.

Charitable Grants

Nonprofit organizations and charities may provide small grants or emergency funds to people in need. You have to prove you have a tight financial situation in order to qualify. These grants often do not need to be repaid. However, they're quite hard to get due to limited budgets and strict requirements.

Utility Payment Plans

Utility companies sometimes offer payment plans to help customers manage their bills. It's typically offered to consumers who struggle to pay their bills and prevents them from being disconnected from the service. Similar to the previous options, you need to provide proof of financial hardships to be able to qualify.

Friends & Family

While obvious, borrowing from close ones is often the safest and quickest way to access emergency funds. It's important to approach this deal responsibly and only borrow an amount of money you can repay. This can help you avoid harming your relationships while being able to get the extra cash you need interest-free.

Sell Stuff You Own

If you visit your attic or basement, you are most likely to find some old furniture, forgotten appliances and toys. Somebody might want those things! Clean up your old or unneeded possessions, take some photos and post them on Facebook Marketplace, eBay, or Craigslist.

Your Emergency Fund

Emergency funds are meant to help you deal with unexpected and urgent expenses. Get some money from your piggy bank to deal with the current financial situation and be sure to put the money back when you can.

How To Choose The Best Loan App

Not all cash advance apps are made equal. If you want to know how to find a legitimate app that offers a good deal, look at the guide below.