MoneyMutual Reviews: Is It the Top Bad Credit Loan Lender to Use?

The demand and popularity of bad credit loans are skyrocketing with time as these types of loans are much more convenient options for general users than usual loans. Almost every individual needs cash advances from time to time to balance their financial conditions. Also, sometimes cash advances are needed for handling emergencies comfortably.

In such scenarios, payday loans come in handy for borrowers. As the number of payday loan applicants is increasing day by day, the number of payday loan platforms is increasing simultaneously. New payday loan platforms and companies are entering the market every other day with exciting payday loan offers for users.

If you’re up for applying for a payday loan to settle down your financial condition, MoneyMutual is a wholesome platform for you. Being one of the most popular payday loan platforms, MoneyMutual offers attractive bad credit loans to users who want to borrow money badly. Bad credit scores are the reasons why the majority of borrowers don’t get installment loans or payday loans from lending companies and platforms. MoneyMutual aims to offer payday loans and cash advances to users with bad credit histories at considerable interest rates.

This article will inform you about different aspects of MoneyMutual so that you can determine whether you want to get a personal loan from this lending company or not.

What Is MoneyMutual?


MoneyMutual is an established payday loan company with an exceptional track record in the lending industry. The platform is one of the potential lenders that claim to offer unsecured loans and payday loans to every user regardless of what his credit score is. MoneyMutual is arguably the best hub for availing yourself of a short-term loan at an affordable interest rate.

MoneyMutual holds the potential to overlap many payday loan companies in terms of offering short-term loans to users. Once you register with MoneyMutual, you can avail yourself of an unsecured loan between $200 and $5000. The majority of online loan lenders don’t sanction loan limits of as high as $5000, but MoneyMutual does that conveniently.

The loan approval process is also pretty seamless and straightforward on MoneyMutual, and that’s another reason behind the popularity of the platform. Users who are in search of an online marketplace with a wide number of short-term lenders should go for this platform.

MoneyMutual consists of hundreds of online lenders, and the presence of multiple lenders makes the platform a better choice for getting a short-term loan approved. MoneyMutual is one of the most-trusted lending companies that is trusted by nearly 2000000+ verified borrowers.

No matter if your monthly income is below $1000, you will surely get a standard payday loan offer from one of the short-term lenders available on MoneyMutual.

Loan Types Payday loans, Cash advances, Installment loans, Bad credit loans
Loan Amount Range $200-$5000
Eligibility Criteria
  • The borrower have to be above 18.
  • He must have stable monthly earnings with proof of income.
  • The borrower must have monthly earnings of at least $800.
  • The applicant has to be a permanent resident of the US.
  • Key Features
  • The platform doesn’t charge a loan origination fee for disbursing a loan.
  • All the lenders available on the platform approve most loan applications as long as their basic eligibility criteria are met.
  • Users can access the educational resources available on the platform.
  • Interest Rates 200%-1300%
    APR Varies from lender to lender
    Repayment schedules Has to be determined in agreement with both the parties

    How Does MoneyMutual Work As a Reputable Lending Organization?

    As you check the official website of MoneyMutual, you will find thousands of positive MoneyMutual reviews that help you judge how decent the platform is in terms of offering bad credit loans to users. The payday lending platform makes loan applications super easy and convenient regardless of what your credit score is.


    The most exciting thing about MoneyMutual is that it is a valued part of the Online Lenders Alliance, and that’s what increases its authenticity as a short-term loan platform. MoneyMutual doesn’t offer predatory loans, and MoneyMutual loans are favorable for users with all credit reports. The loan terms enforced by the platform are also flexible and easy to follow up.

    MoneyMutual is connected with the big credit bureaus that help the platform check the credit histories of borrowers and loan applicants. The platform claims to offer cash advances to borrowers as long as they’re above 18.

    If you want to get a loan on MoneyMutual, you need to ensure that you have a monthly income of at least $800. Users with monthly earnings below $800 are not eligible for getting loans from the lenders of MoneyMutual. Also, you won’t be considered eligible for a loan on this platform if you don’t have a checking account. Having a valid checking account is a mandate in terms of getting your loan application approved on MoneyMutual.

    The platform gets in touch with the three big credit bureaus to inspect the financial factors of every applicant. The soft credit checks conducted by the platform usually bring out the basic financial details of a loan applicant.

    The loan application procedure on MoneyMutual is a three-step process, and the process is pretty concise and on-point. Let’s check the three steps-

    Put In Your Basic Details

    Firstly, you need to register with the platform to start with your loan application. To avail yourself of an installment loan or a cash advance, you are supposed to fill up the form available on the platform.

    In that form, you will have to provide your basic financial details like your bank routing number and other details so that the platform proceeds to customized loan offerings. You need to make sure that you have a fixed income to get a loan on this free online resource website. Be it bad credit loans or installment loans, the platform only accepts applications from individuals with stable monthly earnings.

    Lender Review

    MoneyMutual is among the leading companies present on the platforms, and the platform is connected with 90+ lending partners who offer loans without checking the credit score of a user.

    As you submit your application form on the platform, the short-term loan providers present on the platform screen your application immediately to determine whether you’re eligible for getting a perfect loan offer for yourself or not. If the lenders find you eligible for certain payday loans, you’ll be redirected to the next page to proceed with the loan approval process.

    The Amount Will Get Credited to Your Bank Account

    As a loan offer is offered to you by a particular lender, you need to decide whether you will accept the offer or not. As you decide to accept the offer, the sanctioned amount will get credited to your bank account directly.

    While checking the offer, you need to get all the basic details about the offer. Factors like interest rates and other loan terms need to be checked before accepting the offers.

    Unlike other lending companies, the loan application procedure of this platform is extremely straightforward, and users with minimum technical knowledge can also handle the platform conveniently.

    Another impressive thing about MoneyMutual is that you don’t need to consult with a certified financial advisor to apply for short-term loans on this platform.

    Most importantly, you can repay interest payments directly to payday lenders on this platform without the assistance of a financial consultant. The loan officers of the platform are extremely cooperative, and that’s what levels up the customer service facilities of MoneyMutual.

    How Much Is Charged By MoneyMutual As Loan Origination Fees?

    The most surprising thing about MoneyMutual is that the platform doesn’t charge anything for helping users get their loan applications sanctioned. Our research and editorial team has dived deep into the fees structure enforced by the platform and discovered that MoneyMutual doesn’t charge anything as commission fees. Very few lending platforms offer their services for free, and MoneyMutual is one of them. That’s the specialty of the platform.

    What Are The Key Highlights Of MoneyMutual?

    You may have been curious about why you would select this platform for applying for payday loans. Let’s check out the key highlights of this platform before you proceed with your loan application:

    Firstly, MoneyMutual connects you with more than 90 lenders immediately as you register with the platform. The platform comes with the widest network of lenders, and you will get connected to the most reputed lenders in your local area as you sign up with MoneyMutual. The reliable and trustworthy lenders ensure short-term cash infusion facilities for users to help them become financially stable.

    MoneyMutual consists of educational resources and materials to help users learn about different types of bad credit loans and other types of loans. Users who aren’t savvy about the concept of credit reports and credit history can enhance their knowledge by going through the educational resources available on the platform.

    All the loan procedures are secure and protected on this platform. MoneyMutual promises to keep the personal information of every borrower protected and confidential. The platform uses encryption technology to keep the information of users safe and protected.

    No loan fees are charged by the platforms for originating loans for users. The interest rates on this platform are also pretty affordable and convenient.

    MoneyMutual works as a bridge between borrowers and lenders, and the platform has nothing to do with the approval of your application and other factors related to your loan. The primary task of the platform is to connect you with short-term lenders and help you follow up with the repayment process of the given payday loan.

    A user can improve his bad credit score by taking a loan from MoneyMutual as he pays the installments on time.

    The backgrounds of the payday lenders available on MoneyMutual are thoroughly inspected by the platform. That’s why you stand lower chances of getting scammed.

    The credit limit offered by a lender on MoneyMutual is bound to be higher than the credit limit of your credit card, and that’s what helps you get sufficient money to deal with financial problems.

    The aforementioned points are the primary key features of MoneyMutual, and these factors differentiate the platform from other platforms available on the internet like Castle Payday Loans and others.

    Which Services Are Offered By MoneyMutual?

    Being an all-round lending platform, MoneyMutual offers an impressive range of services to borrowers. Are you curious about what services you can expect from MoneyMutual? Let’s check the list of services offered by the platform:

    Payday Loans

    Payday loans come with the highest interest rates compared to other types of loans available on MoneyMutual. A payday loan is nothing but a cash advance offered by a lender to help you pay your bills or shop necessities. A payday loan comes with a due date that is determined in agreement with both the lender and the borrower, and the borrower is supposed to pay off the loan on the payday to avoid further interest rates.

    If a borrower fails to pay off his due loan amount on the predetermined payday, the lender will hold the authority to charge him extra interest rates on the entire due amount. That’s how payday loans work, and MoneyMutual consists of a number of payday lenders who offer payday loans of different monetary limits to borrowers without detailed documentation.

    Installment Loans

    Users are also free to avail themselves of installment loans to balance their financial conditions. The popularity and demand for installment loans are widespread across the world. When it comes to installment loans, borrowers are supposed to repay their loan amounts in a few installments within a specific time period determined in agreement with their lenders.

    MoneyMutual offers installment loans to borrowers based on their financial standards and earnings. The interest rate of this type of loan on MoneyMutual ranges from moderate to higher limits.

    Bad Credit Loans

    Bad credit loans are not much different from the previous types of loans. The only differentiating factor of a bad credit loan is that it can be sanctioned with a poor credit report, and that’s what makes bad credit loans exceptional options for borrowers.

    According to MoneyMutual reviews, thousands of borrowers availed themselves of these types of loans on MoneyMutual. The majority of them have been able to repay their loans on time as the repayment terms are pretty flexible on MoneyMutual.

    These are the top loan services offered by MoneyMutual. Apart from these, other loan options and credit lines are also available on the platform to help borrowers in all possible ways.

    How Does Your Loan Application Get Approved on MoneyMutual?

    MoneyMutual is a convenient platform for everyone, and the majority of loan applications get approved on the platform. However, borrowers are taken through several steps before their loan applications are accepted and approved. If you’re planning to apply for a loan on MoneyMutual, it’s better to have an insight into the approval procedure-

    Firstly, you’re supposed to land on the official website of MoneyMutual and proceed to apply for a new loan. The first thing you have to put on the platform is your zip code.

    After typing in your zip code, you’ll be asked to provide your personal details. In that section, you’re supposed to type in your name, email address and attach other identification proofs.

    Next, MoneyMutual will ask you to provide your phone number so that you can review text updates related to your loan application.

    In the next segment, you have to provide your residential details along with your financial details. This is the most crucial section, as your chances of getting the application approved depend on this section. You’re supposed to provide legit residential and financial information to have your application approved easily.

    Thereafter, you will be asked to type in your monthly income, and you will have to attach the proof of your monthly income in this section to support your statement.

    The next step is all about selecting the bank account in which you want the sanctioned loan amount to be credited. This has to be the bank account in which your monthly payment or salary gets credited. Also, you’re supposed to mention the next two pay dates.

    Once you’re done with the previous process, the platform will seek details of your employer to conduct a background check before sanctioning your application. Your employer may get contacted by the lender for verification as well.

    In the next section, you will have to type in your state’s ID number, driver’s license number, Social Security Number, or state information to proceed with your application.

    Lastly, you need to provide the routing number of your bank and your personal account number as well.

    If you’re done with the entire process, review your inputs and submit the application.

    The application process on MoneyMutual is just the same as described here. Once you complete the application process, a soft credit check will be conducted by the platform to determine your eligibility. Also, the lenders will verify all the details provided by you before approving your application. If you pass the credit check and all your personal and professional details are on-point, your application will be approved, and the loan amount will get credited to your account as soon as possible.

    How Fast Will Your Loan Amount Get Disbursed?

    According to the MoneyMutual reviews posted on the website by satisfied users, you can expect to have the sanctioned loan amount credited to your account within 24 hours after the approval of your application.

    As you provide the necessary details and documents while registering with MoneyMutual, you’ll be connected with preferred lenders within a few minutes. Thereafter, you will have to review the loans offered to you by different lenders to finalize a deal with a specific lender.

    Once you accept the offer of a particular lender, you’re likely to get the loan amount credited to your account within as little as one business day. Sometimes the lenders on the platform also process your application faster, and you get the sanctioned amount in your account faster as well.

    What Are the Interest Rates Charges By MoneyMutual?

    On MoneyMutual, the interest rates of cash advances and payday loans hover between 200%-1300%. The platform doesn’t accept liability for the interest rates charged by the lenders. The interest rates may vary from borrower to borrower. Also, the interest rates may be dependent on your financial ability and the repayment tenure you select.


    Is MoneyMutual a Safe Option To Go For?

    According to our research and editorial team, MoneyMutual is the best option to apply for different types of loans. The platform ensures that users with low credit scores get personal loans conveniently with hassles. Also, MoneyMutual is one of the most-trusted lending platforms, and it has been functioning in the market for many years.

    Another important factor about the safety measures of MoneyMutual is that it is backed by 256-bit encryption, and it’s impossible to breach the security measures of the platform. Also, the developers and operators of MoneyMutual keep on monitoring the functions of the platforms, and the website is regularly screened to detect unwanted malware.

    Also, the lending partners present on MoneyMutual are verified and trusted, and that’s why the MoneyMutual authority is considering adding them to the platform. So, safety is never a concern when you’re selecting MoneyMutual to apply for different types of loans, according to the MoneyMutual reviews found on the official site.

    Will Your Credit Score Get Impacted Negatively As You Apply For a Payday Loan on MoneyMutual?

    Usually, the lending partners don’t report to the major credit bureaus if you miss loan payments occasionally. As the lending platform mostly offers short-term loans, the lenders don’t actually need to report against users to the credit bureaus. That’s why your credit score is not likely to get impacted negatively as you apply for a loan on this platform.

    Is MoneyMutual a Scam?

    No, MoneyMutual is definitely not a scam. Many borrowers assume that MoneyMutual is a scam as the platform claims to offer free services to users. However, MoneyMutual does so as the primary motto of the platform is to help users in the best possible ways to handle their financial struggles.

    Also, users should keep in mind that MoneyMutual doesn’t operate as a loan provider. It is a platform to connect borrowers with lenders and that can be done without charging anything from borrowers. That’s why MoneyMutual waived the charges from the borrowers to help them in better ways.

    MoneyMutual review: Final Words

    MoneyMutual is a trustworthy and established payday loan company based in Las Vegas that has helped thousands of borrowers get easy loans at lower interest rates to deal with their financial issues.

    From one-year bad credit loans to three-year ones, the long repayment tenures are flexible at MoneyMutual, and the user is the decision-maker in that case. As you submit e-wallet permits while applying for an unsecured loan on MoneyMutual, the process of loan repayment becomes more convenient and effortless for you.

    Most importantly, the platform doesn’t charge higher fees like most other lending platforms. With MoneyMutual, it’s possible to get rid of uncontrolled loan rack up interests. As the platform ensures to transfer the sanctioned amount to your bank account almost immediately, you never have to worry about your safety.

    It’s quite unimaginable that the platform leaves the decision of making interest payments based on your financial condition, and you can select a longer tenure if that comforts you. That’s how MoneyMutual works and the distinct and user-friendly working procedure makes the platform an excellent choice over other platforms available on the internet.

    To learn more about the MoneyMutual, Click here to visit the official website >>>

    ALSO READ: Best Bad Credit Loans: The Top Low Credit Lending Providers to Use

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