Cash Advance

Cash Advance

A cash advance is typically a short-term, small-dollar loan. Certain cash advances, like online cash advance loans, may have a relatively quick application and approval process.

In a situation where you need cash immediately to cover the cost of an unexpected emergency expense, a small cash advance may be a temporary solution. Because MoneyKey is an online cash advance lender and credit services provider, applying for a loan may come with less strict application requirements and approval criteria than some other loans, which means they may be an option for individuals with poor credit. However, like other short-term personal loans, a cash advance loan may come with a high interest rate and typically must be paid back within a short period of time. Small cash advances are designed to be a short-term solution and should be used responsibly.

Cash Advance Loans Offered through MoneyKey

The types of cash advance loans offered through MoneyKey include Installment Loans and Lines of Credit.


Installment Loans

Installment Loans operate similarly to a payday cash advance in that you’ll receive your funds in a lump sum, but instead of having to repay your loan in full by your next pay date, your payments will be spread out over the span of several months.

Lines of Credit

A Line of Credit can serve as a safety net to help you when you run into unexpected emergencies and your savings are low. If approved, you can draw funds up to your available credit limit. As you pay down your principal balance, you continue to make draws from your available credit.

Installment Loans

If you are considering applying for a cash advance online, read our article on the differences between payday loans and installment loans to help you make a decision that is best for your situation.

At this time, payday loans are no longer offered to new customers, however installments loans are available through MoneyKey. For more information, see our Rates and Terms page.

Lines of Credit

You may also consider a line of credit. If approved, you may withdraw any amount from your available credit as you see fit. In most cases, you will only pay interest and/or fees on the amount that you withdraw.

There are two types of Lines of Credit offered through the MoneyKey website: the MoneyKey Line of Credit and the CC Flow Line of Credit provided by CC Flow, a division of Capital Community Bank, a Utah Chartered bank, located in Provo, Utah, Member FDIC. The credit limit you may be eligible to receive for a line of credit varies by state. Visit our Rates page to see if this product is available in your state and the maximum amount offered.

Other Types of Cash Advances

Credit Card Cash Advance

These type of cash advances will generally have very high interest rates which exceed the rate you’d be paying on regular credit card purchases. Interest will generally begin to accrue right away as there may not be a grace period.

Payday Loan

These small-dollar personal loans are typically issued by payday loans organizations and the size of the loans issued typically vary from state to state. Like most cash advance loans, they come with high interest rates and fees.

Credit Card Cash Advance

One common type of cash advance involves borrowing money through your credit card. These types of cash advances will generally have very high interest rates which exceed the rates you’d be paying on regular credit card purchases. You may also be charged an additional fee when you use a cash advance. This fee may be a percentage that’s based on the amount of money you’re withdrawing, or a flat rate.

Another important point to note is that interest will generally begin to accrue right way, as there may not be a grace period. This an important distinction from regular credit card purchases, where interest on a purchase will usually start to accrue after a certain period of time has passed. MoneyKey does not offer this type of product.

Payday Loan

Payday loans are a common type of cash advance. Payday loans are generally short term and usually need to be repaid by your next paycheck. The size of these small-dollar personal loans typically varies from state to state. Like most cash advance loans, they usually come with high interest rates and fees.

When you apply for a payday cash advance, some lenders will ask for proof of regular income and an active bank account to be eligible.

At this time, payday loans are no longer offered to new customers through MoneyKey.

When to Consider a Cash Advance Loan

Cash advance loans are often high cost, short-term solutions to financial emergencies. For unexpected or one-time emergency expenses, you may want to consider a cash advance loan. Here are three examples of situations where an online cash advance loan may be a solution:

  • Medical emergency
  • Unexpected automobile repair
  • Emergency home repair

How to Repay your Cash Advance

It is important to utilize an online cash advance responsibly and pay it back on time to maintain a good standing account. Depending on the type of cash advance, you will repay it in full, in installments or in regular minimum payments on your scheduled due dates as set out in your loan agreement.

Just remember that before you apply for a cash advance online, you should always make sure you have a plan to pay the money you’ve borrowed back on time. Some lenders may charge late fees or additional interest if you miss payments.

Consider Your Options Carefully

When you’re facing an unexpected emergency expense and don’t have the savings to handle it, a cash advance online may be one option that could help you out. Just remember that it’s important to borrow responsibly and understand the terms and conditions of a loan before applying.

Always make sure you’ll be able to pay off your loan on time and explore all of your options before making a decision. If you’d like to learn more about potential lending options, visit our Financial Articles resource hub!

Why choose cash advance loans online offered through MoneyKey?

MoneyKey has served more than 400,000 customers since 2011. There are several benefits in choosing to apply for a cash advance loan online through MoneyKey:

  • MoneyKey’s customer care team is available by phone, email or online chat, 7 days a week, including most holidays.
  • A simple online loan application process.
  • You may be able to get your funds as soon as the same business day*.
  • Fast and friendly customer service.
  • Transparency with no hidden fees.

Frequently Asked Questions


Qualification Inquiries

How do I qualify for a Cash Advance through MoneyKey?

To qualify for a Loan or Line of Credit you must:

  • Be of legal age to contract in your state of residence
  • Be a US citizen or permanent resident
  • Be a resident in the state where the product is offered
  • Have an active bank account
  • Have a regular source of income
  • Have a valid contact number and an active email address

Please note that currently no credit products offered through MoneyKey have rates that would meet the requirements applicable to lend to covered members of the US Armed Forces and their dependents.

How do I know if I’m approved?

We will notify you via email if you are approved. You can also log into your account to view the status of your Loan/Line of Credit.

Can I verify my banking information electronically?

Yes, you may be able to verify your banking information electronically during the approval process using MoneyKey’s service provider, DecisionLogic. This service is free and secure and provides a read-only snapshot of your recent transactions on your bank account to help us process your request for credit quickly. Please note that you must currently use online banking to take advantage of this service; the service is not compatible with all banks.

Some of the benefits include:

  • Faster Turnaround: Instant account verification may help us process your request faster.
  • More Convenient: Electronic verification may be done in minutes without lengthy phone calls with your bank.
  • Secure Authentication: Securely verify your banking information online. Your login details are kept strictly between you and your bank on a secure exchange and will not be shared with MoneyKey, CC Flow (if requesting a CC Flow Line of Credit) or DecisionLogic.


Payment Inquiries

How do I check my next due date?

Log into your MoneyKey account to view your next due date.

How do I make an early payment?

You can always make additional payments without penalties or fees, so long as your account is in good standing. Just contact one of our Customer Care agents at 1-866-255-1668 to make an early payment.

How do I pay off my loan in full?

You can pay your loan off in full at any time. Similar to making an early payment, you won’t be charged penalties or fees for paying off your full balance early. Contact one of our Customer Care agents at 1-866-255-1668 to pay in full. Once your loan is paid off, if your account is in good standing, you may be eligible to apply for another loan.


Account Inquiries

How do I update my information?

You may update some of your information directly in your online account. If you need assistance, or are unable to update your details online, call Customer Care at 1-866-255-1668 and an agent will be happy to assist you.

How does MoneyKey protect my information?

MoneyKey values your privacy and protects your personal information in accordance with lending industry standards. We have adopted secure socket layer (SSL) encryption and obtained Verified Site Certificates to protect your information when it is transmitted between your computer and our servers.

We’ve helped over 400,000+ customers.Let us help you!

Not all applications are approved; duration of approval process may vary. Credit limits/loan amounts are subject to further verification criteria. If you are a returning customer, loan amounts may vary.

*If approved, any requested funds may typically be deposited into your bank account the same business day; timing of funding may vary by product and state. The date and time funds are made available to you by your bank are subject to your bank's policies. For specific funding cut-off times, click here.

**You may request a draw from your Line of Credit at any time, so long as you have available credit and your account is in good standing. In the State of South Carolina, you can withdraw the total credit available to you all at once, or in smaller amounts over time as you need it, with a required minimum draw of $610.

As you move through your credit journey, your account may become eligible for reduced charges and/or increased credit limits/loan amounts based on good payment history over time. You will receive notices, as applicable, regarding your individual circumstances and eligibility.

Depending on your state of residence, applications submitted on this website may be originated by one of several lenders, including: CC Flow, a division of Capital Community Bank (CCBank), a Utah Chartered bank, located in Provo, Utah, Member FDIC. The CC Flow Line of Credit is provided by CC Flow. Additionally, CC Flow maintains critical control over loan origination, underwriting approvals, and regulatory and compliance oversight management. MoneyKey is an authorized servicer of CC Flow. This means the CC Flow Line of Credit is available through MoneyKey and you will maintain your CC Flow Line of Credit account through MoneyKey.

Product availability varies by state. To see loan products offered in your state of residence, please visit our Rates and Terms page.

MoneyKey – TX, Inc. is licensed as a Credit Access Business (CAB), License No. 16641-62815, by the Office of the Consumer Credit Commissioner and registered as a Credit Services Organization (CSO), Registration No. 20110150, by the State of Texas. All loans for which MoneyKey acts as a CSO/CAB are funded by an unaffiliated third-party lender and serviced by MoneyKey. In the State of California, MoneyKey – CA, Inc. is licensed by the Department of Financial Protection and Innovation pursuant to California Deferred Deposit Transaction Law License No.1004516.

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