With the benefits that this app has, it is not new to be looking for the best apps like Grain to get a quick loan or build your FICO Score. Nothing is compared to the joy of sitting in the comfort of your home to borrow money using your smartphone away from the cumbersome procedures that banks offer. Bank loans do not even compare to the luxuries that loan apps project.
When you need emergency financing, cash advances apps are more accessible. Moreover, payday loan providers take advantage of borrowers’ desperation and often trap them in a cycle of debt. However, avoiding mistakes is easier than you think.
What is Grain Loan App All About?
Grain is one of the best credit apps that helps users to build a good credit history. The Grain app allows you to borrow money for day-to-day expenses while still only using your current checking account and debit card. On the Grain app, you can get a monthly credit report for all account activities connected to the app.
Grain is essentially an alternative to credit cards. The amount you can borrow is based on your cash flow and other risk factors that determine your creditworthiness. You can transfer this money into your checking account through the app to spend as you usually would and then pay it back at the end of your billing cycle every month.
Grain will give you a digital credit card that you can use anywhere that accepts Visa.
The big advantage of using an app like Grain Credit is that it can help you build your credit score otherwise known as FICO Score. Grain also offers a variety of loan options, including personal loans and business loans.
Top 10 Apps Like Grain 2023
If you are looking for credit line apps like Grain for Android and iOS, go no further. These apps are popular in the US and outside America servicing many customers.
The top 10 apps like Grain are;
- Dave
- Tellus
- CreditNinja
- Chime Finance
- Brigit
- Earnin
- Possible Finance
- Unifimoney
- Acorns
- SoFi
Let us explain them one after the other.
1. Dave
Dave loan app is one of the best apps like Grain. This is an app that offers short-term loans to help cover unexpected expenses. They can provide up to $250 to their qualified Dave members with no credit check required, and they don’t charge interest on advances.
The app connects to your bank account and analyzes your spending patterns. Based on this information, determines whether or not you’re eligible for a loan. If you are, Dave will give you a loan that you can use to cover unexpected expenses. It is the best alternative app to Grain.
2. Tellus
Tellus is not a bank but it is one of those apps like Grain credit for Android and iOs. It uses your deposits to fund residential home loans and shares the profits with depositors like you. Tellus earns a predictable return on these loans. That allows Tellus to offer impressive ROI to depositors like you.
These yields are backed by the underlying real estate itself, not the loans Tellus makes. In other words, your return is independent of Tellus’ return. Tellus loans have much shorter terms than the typical mortgage or home equity loan. Terms generally range from six to 18 months, reducing the risk that comes with longer time horizons.
3. CreditNinja
CreditNinja is a premier online lender offering larger, more secure, and more flexible installment loans than any payday loan you are considering. CreditNinja is another of the best apps like Grain with beautiful features that make it outstand others.
Their installment loans allow you to get more cash than Possible Finance and repay your loan over a longer amount of time than a typical payday loan. And the best part is that you won’t need to have a perfect credit score to be approved.
With CreditNinja you can apply online in minutes and receive a decision right away, once approved you can deposit the cash into your bank account. You can still be approved even with a low credit score. Your payments can be spread over a longer amount of time than payday loans.
4. Chime Financial, Inc.
Chime is a type of next-gen banking app that can provide cash advances and payday loans before your next paycheck. And best of all, they’re interest-free and serve as one of the best apps like Grain offering similar solutions.
Once you sign up, you will get a free checking account with plenty of good benefits. There are no fees, including overdraft (within limits). Members who are eligible for overdraft protection can overdraw up to $100 on debit card purchases without triggering a fee. They also provide interest-free cash advances on paychecks up to two days before payday with direct deposit.
5. Brigit
The third top financial app like Grain is Brigit. As a financial health app that helps to build a better financial future, it is determined to help its users to reduce the stress they encounter with big financial institutions by making their credit-building process seamless and simple.
Brigit is one of the best apps like Grain that offer payday loans which allows users to get up to $250 from it platform. However, Brigit is more than a paycheck advance app. Brigit has many other features like budgeting, credit builder, credit protection, instant deposit, auto advances, flexible repayment plan and identity theft protection, and overdraft fee protection that can make it an awesome loan app to have.
6. Earnin
With Earnin, you can borrow up to $100 per day, with a maximum of $500, per pay period. This makes it possible to get a bit of extra cash to hold you over until your next paycheck. It’s frequently used to cover bills, smaller emergency expenses, and to avoid overdraft fees.
As one of the best alternative apps like Grain, this app isn’t a personal loan provider that charges interest or lets you take out thousands of dollars. With Earnin’s cash-out feature, you get access to your money the moment you earn it. It lets you get a cash advance of up to $500 per paycheck period with a cap of up to $100 per day.
The app connects to your bank account and sends you your cash advance via direct deposit. When your paycheck actually arrives, Earnin automatically deducts the cash you owe. There aren’t any hidden fees, and you don’t pay interest on Earnin cash advances.
There isn’t a credit check either, and you start with a $100 total cash-out limit per paycheck period. As you use the app and successfully pay back Earnin, your limit increases to up to $500 per pay period.
7. Possible Finance
Possible Finance is another important credit line apps like Grain. As an online lender offering a payday loan alternative to borrowers with bad credit, the app is available for both Android and iOS. But to understand the product that Possible Finance is offering, you’ll first need to understand what unsecured personal and payday loans are.
Possible Finance believes all its users deserve financial health and freedom. Possible Finance offers short-term installment loans as a payday loan alternative. The APRs are very high – 150% to 200% – but still lower than most paydays out there. Possible Finance is designed for small-dollar loans.
8. Unifimoney
If you are looking for credit apps like Grain, then Unifimoney is another one that you should consider right now. The app has similar features to grain but standout with its unique features that look tempting to want to abandon Grain.
It’s good alternative apps like Grains for Android and iOS. However, it serves slightly a different purpose such as investment rather than being a credit card app that helps you spend ahead of your payday.
9. Acorns
Just like Grains, Acorns brand makes saving, investing and banking transaction looks sweet and simple. As one of the best apps like Grain, this app is known for its saving culture and portfolio-building habits.
With Acorns, you can invest while you spend and vice versa. It has monthly membership fees starting from $3/month which enables you access to its platform to take advantage of different financial technology solutions that can benefit your retirement plans.
10. SoFi
SoFi is just another powerhouse for financial technology apps like Grain with numerous banking features including personal loans, student loan refinancing, insurance, auto refinancing, and mortgage loans, among others.
SoFi also has an investment feature which is rare in some other personal credit line apps like Grain. This app earns your reward points every time you transact using the app which can be redeemed later for money.
In Conclusion
There are several alternative apps like Grain that have gained recognition over the years with unique features that serve many users. They all have some similarities and differences. You can make more findings about any of the apps you would love to use before deciding to.
