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How to Get Emergency Cash Immediately for Bad Credit

Emergency loans for bad credit can help cover unexpected expenses but many can be costly.

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Updated May 26, 2025
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Edited by John Howard
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Written by Rachel Alulis
Here at MoneyFor, our goal is to help you make informed financial decisions. We are committed to accuracy and impartiality in all our content. It’s important to note that articles may reference products from our partners who compensate us. This influences which products we feature and their presentation on our site, not our evaluation.

Key takeaways

  • Emergency same day loans can help cover unexpected expenses. Many of these loans are available for consumers with bad credit. 
  • Explore alternative financing options. Borrowing from friends and family, paycheck advances, and buy now, pay later apps can be more flexible and less costly solutions.
  • Prequalify and compare loan offers before you apply. Consider the terms, fees, and interest rate to ensure you get the best possible deal.

Getting emergency cash immediately can be tough. If you don’t have sufficient savings or an emergency fund, you may have to turn to loans or a credit card to cover the expenses. Bad credit can make it much harder to borrow money quickly.

You may be tempted by fast cash loans, no matter their cost. Think twice before you sign on for a high-cost short-term loan. You do have other loan options, even with a low score.

We’ll go over how you can get emergency loans when you need them most, no matter your credit history.

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What is an emergency loan?

An emergency loan is a personal loan with fast approval and funding times. These loans are typically funded within a day or two of approval. You can use the cash to cover any unexpected expenses like medical bills, sudden car repairs, or immediate travel needs.

Emergency loans come in various forms, including installment loans, payday loans, credit card cash advances, pawnshop loans, and car title loans. Each loan option has its own set of terms, interest rates, and eligibility requirements. Many are unsecured loans, meaning the lender uses your financial information, namely your credit score, income, and other debts, to decide if they’ll offer you an emergency loan and at what rate

A lot of emergency loans are installment loans. With an installment loan, you receive the money in a lump sum and make fixed monthly payments over a set period. Loan repayment terms often last from two to seven years and the interest rate does not change. Reputable lenders will report your payment history to all three major credit bureaus. Timely payments can improve your credit score while late ones will hurt it.

The primary advantage of emergency loans is that they can give you cash in a pinch, no matter your credit score.

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Payday loans and payday advances

Payday loans or payday advances are an easy way to get emergency cash immediately. They are short-term emergency cash loans that give you a small amount instantly without a credit check. These no credit check loans are usually for up to $500 and are due on your next pay date.

If you have insufficient funds to repay the loan on your next payday, you can roll it over – if your state allows. Rolling over a payday loan means that the lender will add additional fees and reschedule the payment to your next pay date. Be careful since multiple rollovers can lead to a cycle of debt where you have to take out new loans in order to pay for old ones.

A payday loan is characterized by its very high fees and interest rates. Many have fees equivalent to interest rates of 400%. For instance, if you take out a $500 payday loan for bad credit with a lending fee of $75, that equates to an APR of almost 400%. This can make repayment challenging, particularly for those already in precarious financial situations.

Payday loans provide quick cash, often within a matter of hours, making them an attractive option if you need cash instantly and can’t access credit from traditional lenders. While tempting, avoid them at all costs. They typically only lead to a cycle of debt.

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Why might you need emergency loans?

There are plenty of reasons why you may need to take out an emergency loan.

A few top ones include:

  • Medical expenses
  • Dental bills
  • Unexpected home repairs
  • Car repair
  • Cover expenses after job loss
  • Natural disasters
  • Legal fees
  • Family crisis
  • Unexpected travel expenses
  • Pay bills to avoid penalties

Life is unpredictable. When you don’t have a savings account, emergency cash loans may be the only way to go. The money will typically hit your bank account within 24 hours, even if you don’t have good credit.

Emergency loans are meant to be a temporary solution. If you find that you are in need of extra cash regularly, you need to figure out how to cut expenses or take in additional income. Personal loans will only exacerbate your financial situation if you rely on them.

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Emergency loan rates, fees and terms

When exploring options for emergency loans, it’s crucial to understand their interest rates, fees, and terms. The total cost of the loan will vary depending on your credit score and other factors. Emergency loans for less-than-ideal credit scores exist, but you will find higher interest rates, additional fees, and less flexible loan terms.

Interest rates for emergency cash loans for scores below 670 can be significantly higher compared to traditional loans. The reason is that the lender is taking on more risk by lending to borrowers with low scores. Annual percentage rates (APRs) for personal loans range from 6% to 36%. When you have bad credit, you can count on your APR being closer to 36%.

Emergency cash loan amounts vary from as low as $100 all the way up to $100,000. The loan amount you are offered depends on your credit score, income, and debt-to-income ratio. Lenders want to be sure you can afford to repay what you borrow.

Moreover, emergency loans may include additional fees, such as origination fees, late payment penalties, and prepayment charges. The extra fees can add to the overall cost of borrowing. It’s essential to read the fine print and understand all associated costs before you sign for a loan.

The repayment term you will receive depends on the type of personal loan you apply for. Installment loans come with terms of two to seven years. Shorter repayment periods typically mean higher monthly payments but lower overall interest. Longer terms spread out the cost, resulting in lower monthly payments and higher total interest charges. A payday loan, pawnshop loan, or car title loan will have a much shorter repayment term. Choose a personal loan with a repayment term that fits your budget.

Read more about loans.

How can I get emergency cash immediately with bad credit?

If you’re in a financial jam and have a low credit score, you have options. There are emergency loans for bad credit. Quick options for bad credit borrowers include payday loans, car title loans, and pawnshop loans. These short-term loans can be very expensive and are best avoided whenever possible.

To increase your chances of getting an emergency installment loan, follow these steps and strategies.

Check your credit

Most lenders have credit score requirements. Know what your score is so you don’t waste your time applying for loans you are not qualified for. Check your credit report and correct any errors that could be damaging your score. The higher your score, the more likely you are to be approved for the loan you want.

Decide what you can afford

Review your monthly budget and see what you can realistically put towards loan payments. It’s best not to borrow money you cannot afford to repay.

Find a co-signer

A co-signer with good credit and a steady income will increase your chances of qualifying for a personal loan with a low rate and good terms. It’s a big favor to ask since your co-signer is also on the hook for the money and will be required to repay the loan if you fail to do.

Add collateral

Some lenders offer secured loans that are easier to qualify for. You will most likely receive better rates and terms, and possibly a larger loan amount. A secured loan requires you to put up collateral like a vehicle or property. If you default, the lender can seize your property to recoup their money. You might get better rates, but ensure you can repay the loan before you go this route.

Put down all income sources

How much you make each month is important since the lender wants to be sure you can afford payments on top of your existing expenses. The good news is that many consider Social Security, alimony, and child support as income. List all sources of income on your loan application.

Visit your local credit union

Many federal credit unions offer emergency loans that come with lower-than-average APRs, even if you have a low credit score. The catch is that you have to be a member of the credit union to apply for these loans. Credit unions are usually easy to join so this hurdle is not a big one.

Apply for best offer

Look beyond bad credit loans with guaranteed approval. These loans are not actually guaranteed, and often don’t come with the best terms. Instead, prequalify with multiple lenders and compare options. Prequalifying lets you see potential offers without hurting your score. Then you can apply the best deal for you. Many reputable lenders will send the cash to your checking account in one business day.

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Compare emergency loans online

Even when you need money desperately, it’s important to compare offers. Never settle for the first loan you’re given. Luckily, a lot of lenders let you prequalify in minutes, so it won’t take that much extra time. When you have all your loan offers, take the time to compare them.

  • Monthly payments: Review your budget and determine if you have the cash flow to cover the loan payments. It’s not worth taking out a loan you cannot afford to repay.
  • Interest rate: Find the loan with the lowest total interest cost. Compare the APR and the repayment terms. Long repayment terms with low monthly payments can be appealing, but they tend to cost more in total interest. Short repayment terms with high monthly payments can be tough to manage, but they’ll often cost less in total interest. Find a loan that offers a balance of affordable monthly payments and reasonable interest costs.
  • Fees: Emergency loans, especially for low scores, come with additional fees. The most common fee is an origination fee. It will be 1% to 10% of the total amount. Another one is a prepayment penalty when the lender charges extra if you pay the loan off early. Avoid these fees if possible.
  • Loan amount: Choose the loan that gives you sufficient cash to cover the unexpected expense. It’s best practice to only borrow what you need and no more so that the loan is easier to repay.
  • How fast you will get your money: Lots of lenders offer same-day loans. Check and see what your lender provides. Others may take up to a week to send you the money after you’re approved.
  • Repayment plan: Always know how you will pay back the money before you take out a loan. Otherwise, you may not be able to pay the loan back in full by the due date.
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Emergency cash loan alternatives

The best thing you can do is save a little bit of money each month in an emergency fund. That way, when you need quick cash, you have it. But that’s not always possible.

Other options that may help in an emergency situation include selling unneeded items for fast cash, asking your creditor for an extension on your bill or to waive fees, using your credit card to cover expenses (not ideal), or exploring local community assistance programs that offer financial aid.

Here are a few alternatives to emergency loans that give you cash (or close to it) with potentially lower costs.

Buy now, pay later

The Buy Now, Pay Later (BNPL) apps are a popular way to make large purchases since they spread out the cost. While not a direct cash loan, BNPL apps can alleviate financial pressure by allowing you to defer payments for essentials or unexpected expenses without accruing interest charges. Be mindful of the terms and conditions, as missed payments can lead to fees and impact your credit score. As it is a loan, it is a good idea to only make one BNPL purchase at a time and pay it off in full before you make another one.

Friend or family loan

A friend or family member can be a fast source of funds when you need cash ASAP. The trick is to handle these loans with great care to avoid damaging personal relationships. Be transparent about your financial situation and do not borrow more than you can realistically afford to repay. If you run into any problems, communicate them immediately so that they can be addressed without any hard feelings.

Always draw up a loan agreement. Include how and when the money will be repaid, and if there are any interest charges. Loans from friends and family typically are more flexible, do not include a credit check, and rarely come with interest and fees, but they need to be handled with the same seriousness as any other loan.

Paycheck advance

If you need emergency cash immediately, you can ask your employer for an advance of part or all of your paycheck. Many employers offer this benefit, or you can use paycheck advance apps. Either way, you can receive a portion of your next paycheck early. This option can be particularly helpful for covering urgent expenses without the need for external loans. It’s interest-free, but remember, your next paycheck will be reduced by the amount advanced.

You can also use new cash advance apps to get money quickly. These apps have low to no mandatory fees, no hard credit check, no interest, and allow you to access your own money early. It’s a quick and convenient way to get cash.

You link your bank account or debit card to the app and provide it with basic financial details so it can determine how much to advance to you. Cash advance apps typically approve loans and deposit cash within a few hours. You will have to repay the advance from your checking account on your next payday.

Frequently asked questions

1. How can I get $1000 today?

You should look into online lenders and credit unions that offer same-day loans. Many lenders are able to process and fund applications the same business day when you apply in the morning.

2. What is the minimum credit score for an emergency loan?

The minimum credit score required varies by lender. Some lenders require scores over 600, whereas others do not have a minimum score requirement.

3. Can I borrow $2000 fast with bad credit?

Consider online lenders and credit unions that accept applicants with low scores. Many online lenders have lenient requirements and provide fast funding.

4. How to get $200 immediately?

To get $200 immediately, look into cash advance apps. Many apps will send you an advance instantly for an extra fee. You could also ask your employer for a paycheck advance.

Bottom line

There are emergency loans for bad credit when you’re in a financial pinch. No matter your situation, you have options. Check your credit score, see if you want to add a co-signer, and gather your documents so that you’re ready to apply.

Online lending networks are a good resource for emergency loans. They let you prequalify with multiple lenders in a matter of minutes so you can compare offers without additional applications. Many even specialize in lending to borrowers with less-than-perfect credit and enable you to receive funds in as little as 24 hours. 

When you need an emergency loan, don’t despair. MoneyFor can help you find the right loans for you.

1. Paycheck Advance is For eligible customers only. Your actual available Paycheck Advance amount will be displayed to you in the mobile app and may change from time to time. Conditions and eligibility may vary and are subject to change at any time, at the sole discretion of Finco Advance LLC, which offers this optional feature. Finco Advance LLC is a financial technology company, not a bank. Expedited disbursement of your Paycheck Advance is an optional feature that is subject to an Instant Access Fee and may not be available to all users. Expedited disbursements may take up to an hour. For more information, please refer to Paycheck Advance Terms and Conditions.
2. Paycheck Advance is an earned wage access service and is not a loan or credit product.
3. Current is a financial technology company, not an FDIC-insured bank. FDIC insurance up to $250,000 only covers the failure of an FDIC-insured bank. Certain conditions must be satisfied for pass-through deposit insurance coverage to apply. Banking services provided by Choice Financial Group, Member FDIC, and/or Cross River Bank, Member FDIC. The Current Visa® Debit Card, which may be issued by Choice Financial Group and/or Cross River Bank, and the Current Visa® secured charge card, which is issued by Cross River Bank, are all issued pursuant to licenses from Visa U.S.A. Inc. and may be used everywhere Visa debit or credit cards are accepted. A Current debit account is required to apply for the Current Visa® secured charge card. Independent approval required.
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5. Debit card: Fees may apply, including out of network cash withdrawal fees, third-party fees, cash load fees, inactivity fees, account closure fees, international transaction fees, replacement card fees, express mail fees and escheatment fees.                                                                                                                                                       Build Card: Some fees may apply, including out of network ATM fees of $2.50 per transaction, late payment fees of 3% of any total due balance outstanding and past due for two or more billing cycles, foreign transaction fees of 3% of the full transaction amount (minimum $0.50), card replacement fees per card of $5 for regular delivery and $30 for expedited delivery, cash deposit fees of $3.50 per deposit, and third party processing fees.
6. The Current Visa® Debit Card is issued by Choice Financial Group pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa debit cards are accepted. The Current Visa® secured charge card is issued by Cross River Bank pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa credit cards are accepted. Please see the back of your Card for its issuing bank. Current Individual Account required to apply for the Current Visa® secured charge card. Independent approval required.
7. Individual results may vary. Using your credit card responsibly may allow you to improve your credit score. Credit building depends on various factors, including your payment history, credit utilization, length of credit history, and other financial activities.
8. Faster access to funds is based on comparison of traditional banking policies and deposit of paper checks from employers and government agencies versus deposits made electronically. Direct deposit and earlier availability of funds is subject to timing of payer’s submission of deposits.
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12. Some fees may apply, including out of network ATM fees of $2.50 per transaction, late payment fees of 3% of any total due balance outstanding and past due for two or more billing cycles, foreign transaction fees of 3% of the full transaction amount (minimum $0.50), card replacement fees per card of $5 for regular delivery and $30 for expedited delivery, cash deposit fees of $3.50 per deposit, and third party processing fees.
13. Boost Bonuses are credited to your Savings Pods within 48 hours of enabling the Boost feature and on a daily basis thereafter, provided that the Savings Pod has accrued a Boost Bonus of at least $0.01. No minimum balance required. The Boost rate on Savings Pods is variable and may change at any time. The disclosed rate is effective as of August 1, 2023. Must have $0.01 in Savings Pods to earn a Boost rate of either 0.25% or 4.00% annually on the portion of balances up to $2000 per Savings Pod, up to $6000 total. The remaining balance earns 0.00%. To earn a Boost rate of 4.00%, the sum of your Eligible Payroll Deposits over a rolling 35-day period must be $500 or more, with at least one Eligible Payroll Deposit equalling a minimum of $200. For more information, please refer to Current Boost Terms and Conditions.
14. Your money is FDIC-insured on a pass-through basis up to $250,000 at each of our partner banks, Choice Financial Group and Cross River Bank, members FDIC.
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18. Baggage Insurance Plan coverage can be in effect for Covered Persons for eligible lost, damaged, or stolen Baggage during their travel on a Common Carrier Vehicle (e.g. plane, train, ship, or bus) when the Entire Fare for a ticket for the trip (one- way or round-trip) is charged to an Eligible Card. Coverage can be provided for up to $2,000 for checked Baggage and up to a combined maximum of $3,000 for checked and carry-on baggage, in excess of coverage provided by the Common Carrier. The coverage is also subject to a $3,000 aggregate limit per Covered Trip. For New York State residents, there is a $2,000 per bag/suitcase limit for each Covered Person with a $10,000 aggregate maximum for all Covered Persons per Covered Trip. Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company.
19. Car Rental Loss and Damage Insurance can provide coverage up to $75,000 for theft of or damage to most rental vehicles when you use your eligible Card to reserve and pay for the entire eligible vehicle rental and decline the collision damage waiver or similar option offered by the Commercial Car Rental Company. This product provides secondary coverage and does not include liability coverage. Not all vehicle types or rentals are covered. Geographic restrictions apply. Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company. Car Rental Loss or Damage Coverage is offered through American Express Travel Related Services Company, Inc.
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21. When an American Express® Card Member charges a Covered Purchase to an Eligible Card, Extended Warranty§ can provide up to one extra year added to the Original Manufacturer’s Warranty. Applies to warranties of five (5) years or less. Coverage is up to the actual amount charged to your Card for the item up to a maximum of $10,000; not to exceed $50,000 per Card Member account per calendar year. Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company.
22. Purchase Protection is an embedded benefit of your Card Membership and requires no enrollment. It can help protect Covered Purchases made on your Eligible Card when they’re accidentally damaged, stolen, or lost, for up to 90 days from the Covered Purchase date. The coverage is limited to up to $10,000 per occurrence, up to $50,000 per Card Member account per calendar year. Coverage Limits Apply. Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company.
23. Chime is a financial technology company, not a bank. Banking services provided by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC.
24. The secured Chime Credit Builder Visa® Card is issued by Stride Bank, N.A., Member FDIC, pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa credit cards are accepted.
25. Banking services and debit card provided by The Bancorp Bank N.A. or Stride Bank, N.A., Members FDIC, pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa debit cards are accepted.
26. The Annual Percentage Yield (“APY”) for the Chime Savings Account is variable and may change at any time. The disclosed APY is effective as of September 20, 2023. No minimum balance required. Must have $0.01 in savings to earn interest.
27. There’s no fee for the Chime Savings Account. Cash withdrawal and Third-party fees may apply to Chime Checking Accounts. You must have a Chime Checking Account to open a Chime Savings Account.
28. To apply for Credit Builder, you must have received a single qualifying direct deposit of $200 or more to your Chime Checking Account. The qualifying direct deposit must be from your employer, payroll provider, gig economy payer, or benefits payer by Automated Clearing House (ACH) deposit OR Original Credit Transaction (OCT). Bank ACH transfers, Pay Anyone transfers, verification or trial deposits from financial institutions, peer to peer transfers from services such as PayPal, Cash App, or Venmo, mobile check deposits, cash loads or deposits, one-time direct deposits, such as tax refunds and other similar transactions, and any deposit to which Chime deems to not be a qualifying direct deposit are not qualifying direct deposits.
29. Money added to Credit Builder will be held in a secured account as collateral for your Credit Builder Visa card, which means you can spend up to this amount on your card. This is money you can use to pay off your charges at the end of every month.
30. Based on a representative study conducted by Experian®, members who made their first purchase with Credit Builder between June 2020 and October 2020 observed an average FICO® Score 8 increase of 30 points after approximately 8 months. On-time payment history can have a positive impact on your credit score. Late payment may negatively impact your credit score.
31. On-time payment history may have a positive impact on your credit score. Late payment may negatively impact your credit score. Chime will report your activities to Transunion®, Experian®, and Equifax®. Impact on your credit may vary, as Credit scores are independently determined by credit bureaus based on a number of factors including the financial decisions you make with other financial services organizations.
32. Early access to direct deposit funds depends on the timing of the submission of the payment file from the payer. We generally make these funds available on the day the payment file is received, which may be up to 2 days earlier than the scheduled payment date.
33. SpotMe® on Debit is an optional, no fee overdraft service attached to your Chime Checking Account. To qualify for the SpotMe on Debit service, you must receive $200 or more in qualifying direct deposits to your Chime Checking Account each month and have activated your Visa debit card. Qualifying members will be allowed to overdraw their Chime Checking Account for up to $20 on debit card purchases and cash withdrawals initially but may later be eligible for a higher limit of up to $200 or more based on Chime Account history, direct deposit frequency and amount, spending activity and other risk-based factors. The SpotMe on Debit limit will be displayed within the Chime mobile app and is subject to change at any time, at Chime’s sole discretion. Although Chime does not charge any overdraft fees for SpotMe on Debit, there may be out-of-network or third-party fees associated with ATM transactions. SpotMe on Debit will not cover any non-debit card transactions, including ACH transfers, Pay Anyone transfers, or Chime Checkbook transactions. SpotMe on Debit Terms and Conditions.
34. Tipping or not tipping has no impact on your eligibility for SpotMe®.
35. Out-of-network ATM withdrawal fees may apply except at MoneyPass ATMs in a 7-Eleven, or any Allpoint or Visa Plus Alliance ATM.
36. Save When I Get Paid automatically transfers 10% of your direct deposits of $500 or more from your Checking Account into your savings account.
37. Round Ups automatically round up debit card purchases to the nearest dollar and transfer the round up from your Chime Checking Account to your savings account.
38. Mobile Check Deposit eligibility is determined by Chime in its sole discretion and may be granted based on various factors including, but not limited to, a member’s direct deposit enrollment status.
39. Funds are automatically debited from your Checking Account and typically deposited into the recipient’s Checking Account within seconds. Pay Anyone transactions will be monitored and may be held, delayed or blocked if the transfer could result in fraud or another form of financial harm. Sometimes instant transfers can be delayed.
40. Pay Anyone transactions will be monitored and may be held, delayed or blocked if the transfer could result in fraud or another form of financial harm. Sometimes instant transfers can be delayed. Non-Chime members must use a valid debit card to claim funds.
41. MyPay is only offered in select states
42. To be eligible for MyPay, you must receive qualifying direct deposits to your Chime Checking Account as set forth in the MyPay Agreement. A qualifying direct deposit is a deposit from an employer, payroll provider, gig economy payer, government benefits payer, or other permitted source of income by Automated Clearing House (“ACH”) or Original Credit Transaction (“OCT”). Your MyPay Credit Limit and Maximum Available Advance may change at any time. MyPay is a line of credit and available limits are based on estimated income and risk-based criteria. Eligible members may be offered a $20 – $500 Credit Limit per pay period. Your Credit Limit and Maximum Available Advance will be displayed to you within the Chime app. MyPay is currently only available to eligible Chime members in certain states. Other restrictions may apply.
43. Not affiliated with Empower Annuity Insurance Company of America (www.empower.com).                              Not everyone will qualify. Offers range from $10-$300 for first-time customers; $10-$400 for all others. Offers are based on our eligibility requirements and can go up with on-time payments. In Feb 2025, the average offer was $95 for first-time customers; $187 for all others. Instant delivery is optional—see fees in Empower’s Terms.                              Empower offers a 14-day trial for first-time customers followed by an auto-recurring $8/month subscription fee. Cancel anytime.
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About the author

Author Rachel Alulis Rachel Alulis

Rachel Alulis has been the lead editor for Moneyfor's credit cards team since 2015 and for the financial rewards team since 2023. Before joining Moneyfor, Rachel worked at USA Today and the Des Moines Register. She then established a successful freelance writing and editing business specializing in personal finance. Rachel holds a bachelor's degree in journalism and an MBA.

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