[A Comprehensive Guide] Top Four $50 Instant Loan Apps 2023

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Updated: Apr 06, 2023
author photo Written by Louis BakerUpdated: Apr 06, 2023
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Many loan apps can get cash in your bank account quickly, but with so many to choose from, it can take much work to find the right one. In this article, we'll introduce you to some of the leading apps in this space and provide an in-depth review to help you make a wise and informed decision.

Whether you're facing a financial emergency or need extra cash to tide you over until payday, our comprehensive guide covers you. Read on to learn about the best apps to get your cash quickly.

What Are $50 Instant Loan Apps & How Do They Work?

$50 instant loan apps are a type of financial service that allows users to borrow small amounts of money quickly and easily. These apps are designed for people who need emergency cash or want to avoid traditional lending processes, such as filling out lengthy paperwork or waiting for approval from a bank.

To use a $50 instant loan app, users download the app onto their smartphone and create an account. They then enter their personal and financial information, including their bank account details, income, and employment status. Once this information is verified, users can request a loan of up to $50 and receive the funds within minutes.

The key advantage of $50 instant loan apps is their convenience and speed. Users can access the funds they need quickly and without the hassle of going through a traditional lender. However, it's essential to carefully read the terms and conditions of these apps and be aware of any potential fees or interest rates before borrowing.

$50 Instant Loan Apps Features

Here are some of the key features to look for when choosing an instant loan app:

The Credit Check

Many $50 instant loan apps do not require a credit check, making them accessible to individuals with poor credit scores. This allows users to access funds quickly without worrying about their credit history.

However, most apps will check your social security number, employment information, and bank account details before making an approval decision.

Same-Day Payouts

Same-day payouts are a significant advantage of using $50 instant loan apps. Traditional lending processes can take days or even weeks to complete. With $50 instant loan apps, users can request a loan and receive the funds within minutes, making them an ideal solution for urgent financial situations.

Cost Of The Loan

The cost of a $50 instant loan will vary depending on the app's specific terms and conditions. Some apps may charge a flat fee for the loan, while others may charge interest on the amount borrowed. Interest rates vary based on the user's credit score or other lending factors.

The best $50 loan instant apps have a few things in common.

Easy-to-use app design: Interfaces is user-friendly and intuitive, with easy-to-follow steps for requesting a loan.

Quick and straightforward loan application process: They have a simple application process with the minimal required information and no lengthy paperwork.

Transparent terms and conditions: They are open about fees, interest rates, and repayment options. This allows users to avoid any unexpected costs or penalties.

Flexible repayment options: They allow users to choose a payment plan that fits their budget and financial situation.

High approval rates: Users are more likely to be approved for a loan when they need it most.

Four Best $50 Loan Instant Apps Overview

A wide range of $50 instant loan apps is available, each offering different features and terms. This section will overview four of the best $50 loan instant apps, highlighting their key features and benefits. By comparing these apps, you can choose the best fit for your needs and financial situation.

#1 CreditYelp

  • Credit check: No
  • Waiting period: 1 day
  • Interest rate: 0%
  • Fee: No
  • Amount: Up to $500
  • APR: 5.99% to 35.99%

CreditYelp is not a direct lender but a platform that connects borrowers with multiple lenders who can offer $50 loans. The terms and conditions of the loan will depend on factors such as the borrower's credit history, credit rating, and employment status.

CreditYelp streamlines the borrowing process, allowing users to access the funds they need with multiple options quickly. This means that users can compare offers from different lenders and choose the one that best suits their needs.

Get a $50 Instant Loan Now!

Most lenders and banks will likely see you as a credit risk if your credit falls into the bad credit range. This is where CreditYelp comes to the rescue.

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Secured Data: CreditYelp uses secure encryption methods to protect all user data, including private information and banking data, ensuring that it is never disclosed to third parties.

Fast Loan: CreditYelp app quickly connects borrowers with direct lenders, making it easy for them to meet their financial needs in just a few minutes.

Easy Application: The app is user-friendly, and the application process is straightforward. You can complete the application form from your smartphone in just a few minutes without paperwork or faxing.

How does CreditYelp compare

Why Choose Us?
How much can I borrow?
Up to $35,000
No hidden fees or charges
How long is the loan repayment period?
Up to 36 months
Various repayment options
Do lenders check my credit?
Soft check only
Do lenders accept bad credit?
Friendly to bad credit borrowers
Chances of approval
High approval rate
How to apply?
Apply online
No paperwork needed
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#2 Brigit

  • Credit Check: No
  • Waiting period: 1-3 days
  • Interest rate: 0%
  • Fee: $9,99 for every month of using
  • Amount: Up to $250
  • APR: 0%

Brigit is an instant cash loan app that offers $50 loans with no credit check required. Even those with poor credit can access the funds they need in a pinch. The app is easy to use and has an autopay feature that allows users to quickly and easily repay their loans.

Brigit offers two different plans - a free plan and a premium plan. The free plan allows users to borrow up to $250, while the premium plan allows larger loans with even instant access to funds.

Whether you need money for an unexpected expense or want to avoid overdraft fees, Brigit is a convenient and affordable option for quick cash.


  • Fast money transfer: The free plan takes up to a day, but the premium feature enables you to obtain your money instantaneously, directly into the linked borrower's bank account.
  • Keep you in control: Brigit offers a suite of tools to help you manage your credit, including access to your credit report, budget tracking, and extra financing.
  • Automatic Advances: You can set up automatic advances so your account will automatically cover upcoming expenses to avoid overdraft fees. 
  • No credit check, interest, or hidden charge


  • Most features require a monthly subscription fee of $99.9 per month.
  • Users can only link checking accounts that have been open for 90 days.
  • A smaller cash advance than offered by some competitors

#3 Dave

  • Credit check: No
  • Waiting period: 1-3 days
  • Interest rate: 0%
  • Fee: $1 per month
  • Amount: Up to $250
  • APR: up to 286.5%

Dave is perfect for those who require extra cash before their next paycheck arrives. With Dave, you can get an advance of up to $500 without worrying about interest or fees. Instead, the app charges monthly subscriptions and accepts tips from its users to help support its operations.

Using Dave is easy. Download the app, connect your bank account, and request an advance. Dave will then deposit the funds into your account. The deposit is usually made within three days, but it can be made within 8 hours if you're a Plus member.

At your agreed settlement day, Dave will automatically withdraw the amount you borrowed plus any tips you agreed to pay. If you need more money in your account at the agreed date, the app will deduct partial payments from your bank account until it is repaid.


  • Loan amount up to $500
  • Automatic Budgeting Feature: Dave's budgeting feature tracks income and spending to help users plan for upcoming bills and avoid overdrawing.
  • No credit check is required.
  • Free ATM withdrawals and debit card access when you open a Dave's ExtraCash account


  • High loan fees compared to other cash advance apps
  • The linked checking account must be 60 days old with three recent recurring deposits
  • Standard account delivery takes up to 3 days

#4 Chime

  • Credit check: No
  • Waiting period: 1 day
  • Interest rate: 5%
  • Fee: $0
  • Amount: above $100
  • APR: 29.76% (3-month term)

The Chime loan app provides users easy access to money when needed to cover essential expenses. Chime determines eligibility for a loan, and if you qualify, the funds will be available in your Chime Checking Account. However, you must have consistent direct deposits into a Chime account to be eligible.

When you qualify for a loan, you will receive a push notification and a message in your Chime app. You can access up to $100 and even larger loans after paying off an existing loan.

Loans are repayable in three monthly increments starting from 5% interest ($5 for a $100 loan). Once you pay off one loan, it will be a few days before another loan offer is available.


  • Credit Building: Chime allows you to build credit by taking out a loan. You’ll be able to see your credit score and history in your app, which can help you get approved for other loans in the future.
  • Avoid Overdraft and charges: You can avoid overdraft fees and check-cashing fees by taking out a loan with Chime.
  • Early access to your paycheck: You can use the loan to access your paycheck before it hits your bank account.


  • Only available to users of Chime checking account
  • High APR on instant loans
  • Eligibility depends on consistent direct deposit in the Chime account.

How To Choose The Best $50 Loan Instant App?

Loan apps are life-saving, but you must be careful when choosing one. Some apps charge more than others, and some have hidden fees that can cost you even more. Here's how to find the best $50 instant loan app.

#1 Loan Amount

The average payday loan is around $300, but some offer up to $1,000. Be sure to choose a loan app that offers the amount you need to borrow. This will help you avoid taking out multiple loans or entering your information into various applications.

#2 Application Process

You will enter your personal information and financial details in the application process. The best apps will ask for minimal personal information and avoid asking any unnecessary questions. They will also provide secure access to your data so that no one can view your information without permission.

#3 Approval guideline

It will help if you read the terms and conditions before committing to a loan. Some may have strict guidelines and only approve loans for those with good credit, while others may have more lenient guidelines and approve loans for those with less-than-perfect credit.

Make sure to choose an app with policies that align with your credit history and financial situation.

#4 Fees and Charges

Some apps charge more than others, and some have hidden fees that can cost you even more. You should keep an eye out for any extra charges and read the fine print before signing up for a loan.

#5 Customer Reviews

Customer reviews are the best way to determine whether an app is worth using. Look at the overall rating of an instant loan app, and read through some of the reviews. If you see a lot of negative feedback, it’s probably not worth using that particular app.

#6 Credit Building

Some apps may provide tools and resources to help you improve your credit scores, such as budgeting tools, credit monitoring, and financial education. If you want to improve your credit, choose an app that offers these resources and opportunities.

What to Avoid

It's essential to be vigilant and look out for red flags that may indicate a potential scam or fraudulent activity. Here are some key red flags to avoid when choosing a loan app:

  • High-interest rates: If a loan app offers incredibly high-interest rates, it may be a sign that the company is trying to take advantage of its customers. Always compare interest rates with other reputable loan apps before making a decision.

  • No physical address: If a loan app does not provide a physical address or contact information, it may be operating illegally. The company should have a physical location that is easily accessible for inquiries or complaints.

  • No licensing information: All legitimate loan apps are required to have a license from the appropriate regulatory body like the Better Business Bureau

  • No clear terms and conditions: A loan app that does not provide clear terms and conditions or has hidden fees or charges may be trying to take advantage of its customers.

  • Requests for personal information: Be wary of loan apps that request personal information such as account login details upfront.

Alternatives to Instant Money Apps

Consider these alternatives to online instant loan apps.

Build an Emergency Fund

This can be as simple as setting aside $100 in a savings account and only using that money for emergencies. If you prefer, you can open a high-yield online savings account, which offers better interest rates than traditional banks and no fees on deposits or withdrawals.

It's essential to start building this fund as soon as possible and to contribute to it regularly. An emergency fund can provide peace of mind and help prevent the need to turn to instant money apps in times of financial distress.

Find a Side Hustle

A side hustle or part-time job can generate additional income. Countless side hustle options are available, from babysitting and graphic design to dog walking and tutoring. Consider your skills and interests and look for opportunities that align with them.

You can also use websites like Upwork and Fiverr to find freelance jobs and earn extra income on your schedule.

Other side hustle options include:

  • Virtual Assistant
  • Freelance writing
  • Social media management
  • Graphic design
  • Teaching or tutoring
  • Event planning or coordinating
  • Personal training or fitness coaching
  • Handyman or home maintenance services
  • Ride-sharing or delivery services

Sell Unwanted Items

If you need quick cash, consider selling unwanted items. This can be a great way to declutter and make some extra money simultaneously. Look around your home and consider selling things you no longer need or use. You can use platforms like eBay or Craigslist to sell these items and generate extra income.

Credit Union Apps

Many credit unions offer loans on their mobile apps, which often have lower interest rates than traditional lenders. You may need to be a member of a specific credit union to apply, and some require an annual fee or minimum balance.


Do Instant Cash Apps Have a Minimum Credit Score Requirement?

Many instant loan cash apps don't check credit, so you can get money even if your score is low. However, if you have a high credit score, you can get a better loan rate with a traditional lender.

Cash Advance Apps vs. Payday Loans: Which Is Better?

Cash advance apps and payday loans are both options that can provide access to quick cash in a pinch. However, they have some significant differences that can affect your better choice.

One key difference is the amount of money that is available. Cash advance apps typically allow you to borrow smaller amounts, such as $50 or $100, while payday loans can be for much more significant amounts, such as $500.

This can make payday loans more suitable for larger expenses. Cash advance apps may be a better option for more minor, more immediate needs.

Another difference is the repayment terms. Payday loans generally have shorter repayment periods, often just a few weeks, while cash advance apps may offer more flexible repayment terms.

Additionally, Payday loans often have higher fees and interest rates, making them more expensive in the long run. Cash advance apps may have lower fees and interest rates. But carefully compare the terms of different loans to ensure you're getting a fair deal.

What Factors May Influence Your $50 Loan Instant App Approval?

One important factor is your bank history. The lender will likely review your bank statements to see if you have an account of responsible financial management, such as consistently making on-time payments and maintaining a healthy balance.

Secondly is your credit history. A good credit score can increase your chances of approval and may lead to a lower interest rate. If you have a history of borrowing from the app and have consistently made on-time payments, this may also improve your chances of approval.

In some cases, your employer may offer employees access to instant loan apps as a benefit. If this is the case, cooperating with your employer and following their guidelines may increase your chances of approval. 

Overall, demonstrating a history of financial responsibility and being transparent with the lender can improve your chances of getting approved for a $50 loan through an instant loan app.


Instant loan apps can be a convenient way to access funds quickly in times of need. However, It's important to carefully consider all your options and choose a trustworthy and transparent lender. To make an informed decision, borrowers can use CreditYelp to compare loan offers and read reviews from other borrowers.

author photo

Written by

Louis Baker


Louis Baker started his career in 2017 by contracting with Experian. He also became a part-time content creator in various fields such as insurance, personal finance & investment, etc.

Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own.
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