MoneyLion Personal Loans Review
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MoneyLion is a privately held company based in Sandy, Utah that offers consumers one-stop management of savings, investments, purchasing, credit, and personal loans. The company uses a membership model of customer relations. Founded in 2013, the firm has offices in New York, Salt Lake City, San Francisco, and Kuala Lumpur.
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Customer Comments & Reviews
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Well got to the point they wanted access to my checking account, sorry but that will never happen...
I just received a denial letter and I NEVER APPLIED FOR A LOAN from this or any other company ! I have not yet seen a credit inquiry on my credit report but if I do I will definitely demand it is removed and will consider legal action. I am rebuilding my credit and have credit cards with an available credit line of $10,000, why in the hell would I apply for a loan from some second rate, high interest loan company ! I will continue to moniter my report and Lyin' Loans you better NOT show up on it !
Money Lion Loaned me $2,000 in September and as discovered they expect me to pay $241 for 30 weeks which amounts to $7,200 or interest of $5,200 on a $2,000 loan. If you do not think that is illegal or a scam. They must be funded by the Mafia and surely it is illegal. I caught this early enough I will get my bank to stop further withdrawals, but everyone should be aware what amounts to an annual interest rate of well over 500% interest.
It is my firm belief that Money Lion is a dishonest company. At first I was told I would qualify for a $900 loan, which would have allowed me to completely wipe out another loan I had and Money Lion's payments would have been manageable. As the application process went along, the amount dropped to $800, which still would have helped me almost wipe it out in one shot, then finally I received what I ultimately qualified for -- $500. Big whoop. That didn't allow me to do diddly-squat except get in more debt. At the first opportunity I got I paid off Money Lion early just so they would not get paid any more interest than I had already paid them by that time. If they want my business in... Read More
- Personal loans of up to $500 at low interest ratges
- Personal finance app for savings, investment, and borrowing
- Next business day fund deposits
- eSign your loan documents
- Credit monitoring