To qualify for a loan, the applicant should have a good credit history and a FICO score of at least 700. In this case, the probability of being approved for the right amount increases, and interest rates can be much lower. However, what should you do if your score is low but you still need to get money for certain expenses? There is a solution! It consists of installing and using a loan application that will not only help you improve your rating in the future but also help you get training to obtain large loan amounts. Applications such as the PocketGuard App are also recommended to manage your borrowed and your own money wisely. You will always know your income and expenses with them. Learn what the best money loan app is in this article.

Best Money Loan App: How They Work

The applications work in different ways, but they all help customers improve their credit ratings. Such software provides credit monitoring and recommendations on how to improve your credit. It shows the rating as of the day, week, and month and alerts the customer to new accounts opened in their name, lawsuits, and similar information.

Users can also use apps to help them improve their credit scores by reporting payment information such as rent, car payments, and utility bills.

Effective Apps of 2024

Today, you can name such apps that help you improve your credit score and build a good credit history:

• Experian Boost

One of the largest credit bureaus will help everyone easily improve their credit score. The service reports payments that are usually not taken into account by lenders. You just need to register and connect accounts from which the client pays bills and rent. The score increase is small, but you can try this free app for your own benefit.

• Kikoff

The main product of the app is a revolving credit account up to $750 that can be used as a credit card. It allows you to purchase at a Kikoff store and make monthly online payments to increase your credit gradually. There’s a $5 fee to sign up, no credit check is needed, and approval takes minutes. The app doesn’t charge interest or late fees; you can raise your score by 58 points.

• Self

The app offers credit to build credit, which means you need to pay off one small loan to access a more significant amount. The higher the monthly installment, the larger the loan can be accessed later. Customers can choose $25, $35, $48 or $150.  However, it would be best to realize that you must pay an additional administration fee of $9 and constant interest rates. The app user chooses the due date and payment amount and makes payments whenever it suits him. At the same time, there is no hard pressure on the credit rating.

• StellarFi

A mobile app that issues credits to pay the customer’s recurring bills. However, you need to connect your current account to the app and inform it about the bills it has to pay. Then, StellarFi will pay the bills on behalf of the customer and wait for the repayment. In parallel, the customer’s payment information is sent to the credit bureaus to get the credit they need in the future. A 30-day trial is available for $0.99. After that, purchasing one of the packages with fees ranging from $5 to $20 per month is possible. The customer does not have to pay interest, make an upfront deposit, or pay hidden fees.

• Grow Credit

A popular app that allows you to accumulate credit through monthly subscriptions for which the customer already pays. Reports are sent to the major credit bureaus, and the customer’s credit score is raised to 44 points. Free membership is available for 1–2 subscriptions. Premium plan allows you to get credit with your monthly cell phone payment.

Use all modern financial tools to create a secure future for yourself and don’t give up a secure life.