MoneyLion Credit Builder Plus
The Credit Builder Plus membership ($19.99/month) includes a small credit builder loan deposited into a savings account. Canceling the membership before the loan term ends may require paying the outstanding balance. Once the loan is repaid, you can close the account and withdraw the saved funds.
Alternatives worth considering
- Chime Credit Builder - No monthly fee. Secured credit card that builds credit.
- Self (Self Financial) - Credit builder loan with no membership fee beyond the loan payments.
- Dave Banking - Simple no-fee banking with small cash advances.
Frequently asked questions
- How do I cancel MoneyLion?
- Open the app → Account → Membership → Cancel. Pay off any Credit Builder loan first.
- Can I cancel MoneyLion if I have an outstanding loan?
- You need to pay off the Credit Builder loan before fully closing your account.
- Does MoneyLion give refunds?
- MoneyLion does not typically refund membership fees. Cancel before your billing date.