MoneyLion

Lender Summary

MoneyLion is a next-generation online financial services company, built on a proprietary data-driven platform. We provide access to personal loans and financial products across the credit spectrum, personalized for each customer’s unique financial needs. At MoneyLion, we believe that data and transparency allow customers to be better borrowers and improve their financial health. That’s why we empower all of our customers with tools like free credit monitoring, spend tracking, and proprietary indicators of their financial wellness.

What they're saying

Ratings & Reviews
20 Reviews
  • Interest Rates
    Good
  • Fees & Closing Costs
    Good
  • Responsiveness
    Good
  • Customer Service
    Good

Review Breakdown

  • 5 Star
    (12)
  • 4 Star
    (2)
  • 3 Star
    (0)
  • 2 Star
    (0)
  • 1 Star
    (6)

Worst customer service

They charged hundreds in repayments for instacash never asked for or recieved. This locked my debit card out for automatic repayment. They now say I owe $259 in repayment which has come directly out of my bank account. I sent a screenshot to customer service asking they clear the balance, showing that it has been taken from my bank account. They insist it was denied and that I have to add another debit card or bank account to pay them again. 10/10 would not recommend.

  • Loan Type:

    Personal Loan
  • Review Type:

    Lender Review

Horrible security and customer service

I have gotten fraud on my account twice now from India.... and I live in the USA. Their security is probably the worst I've ever encountered. How did that not put up any red flags. They are easy to use, but not worth the hassle. To dispute you have to send an email, rather than speak with someone. They don't instantly refund like most reputable companies do. Im currently in the process of trying to speak with a manager and have been on hold for 45 mins... Horrible customer service, horrible security

  • Closed with Lender:

    Yes
  • Loan Type:

    Personal Loan
  • Review Type:

    Lender Review

DO NOT USE

DO NOT USE!<br />Do not use MoneyLion to rebuild your credit.<br />1 - They're not even reporting my payments to any credit agency. I've seen no change in scores, and I've checked my reports, they are not reporting.<br />2 - I called them to have my bank account information changed so they could take the usual monthly payment. I was assured over the phone the upcoming payment would be removed from the new account. Instead they took it from wrong account and overdrafted my account.<br />When I contacted them I was told that it takes 2 -3 days for those changes to go through and because of that, they weren't going to credit me the NSF.<br />When I explained that the rep I spoke to AND the documentation on their website did not indicate this, they thanked me for the feedback and still refused to credit the NSF fee. I'm now out $70 in the middle of a pandemic when money is incredibly tight because of a lack of communication. Beyond furious.<br />3 - Their $20 membership fee is BS and pretty much a money grab. There is nothing inside of the moneylion app that will help you that you can't get for FREE using other sites. <br />So to recap the credit building is a lie. Membership fees are a scam. They're are greedy and refuse to simply do the right thing based on a mistake THEY MADE.<br />Moneylion is a joke. I was in a desperate situation and needed the cash and I regret this deeply. Don't make my mistake, DO NOT USE MONEYLION.

  • Loan Type:

    Personal Loan
  • Review Type:

    Lender Review
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LendingTree Certification:

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