Need to Borrow $500 Instantly? Best Cash Advance Apps and Instant Loans

Need $500 fast? Cash advance apps offer quick access to funds with no credit check or interest if repaid by your next payday. Apps like Dave and Current may offer up to $500 at once for eligible users, while EarnIn and MoneyLion let you borrow smaller amounts in increments based on your income. Transfers can be instant for a small fee.

In this guide, we’ll compare top apps, break down their costs and features, and highlight tips to avoid fees, manage repayment, and explore alternatives if you’re in a financial pinch.

4 cash advance apps when you need $500 now

Cash advance apps offer a quick, accessible way to borrow money—no credit check required. Many don’t charge interest if you repay by your next payday, though instant transfers may come with a fee.

Apps like Current and Dave may offer up to $500 at once for eligible users—ideal if you need the full amount immediately to cover rent, utilities, or another large expense. Others, like EarnIn and MoneyLion, let you borrow in smaller increments (e.g., $100 per day), which can work well if you’re managing daily costs or don’t need the full amount all at once.

Here is more on the apps we recommend.

Dave

Up to $500 Instantly

4.7 _/5

Get Cash

Why we picked it

Dave provides up to a $500 cash advance with no late fees, credit checks or interest. The mobile app also offers options like a checking and savings account. Instant transfer fees range from $3 to $25, and cash advances require setting up an ExtraCash account.

The Federal Trade Commission (FTC) filed a complaint against Dave for allegedly using misleading marketing to deceive customers. Dave promptly addressed the concerns, but it’s still important to know.

• No interest or credit check
• High borrowing limit compared to competitors
• Additional tools like checking and savings accounts
• User-friendly mobile app

• FTC complaint raises concerns about transparency
• Relatively high instant transfer fees
• Requires setting up an ExtraCash account
• Standard funding takes 1 – 3 business days

Current

Up to $500 at Once With Credit Building Add-Ons

3.9 _/5

Get Cash

Why we picked it

Current is a mobile banking app that offers up to $500 cash advances for account holders with direct deposit. There are no credit checks required, and standard funding takes 1-3 business days. Current offers flexible repayment terms, but its instant transfer fees are undisclosed. 

• All-in-one mobile banking app
• No credit check required
• Flexible repayment terms
• Offers up to $500 cash advances

• Limited transparency on fees
• Must have direct deposit to qualify
• Lacks advanced financial tools like savings accounts
• Instant funding costs are unclear

EarnIn

Best for $500 in Increments

5.0 _/5

Get Cash

Why we picked it

EarnIn offers up to $150 per day and up to $750 per pay period based on your earned income. There are no fees, but an instant transfer will cost you between $1.99 and $4.99, which is still some of the lowest fees charged for instant funding among the apps we’ve reviewed. 

Standard funding takes 1-2 business days.

• Low instant transfer rates
• No credit check
• No interest
• Overdraft protection and credit monitoring for added value

• Daily borrowing limit of $100 – $150
• Requires connection to your bank account
• Eligibility depends on deposit history
• Minimum earnings of $320 per pay period required

MoneyLion

Incremental $500 While Building Eligibility

4.2 _/5

Get Cash

Why we picked it

MoneyLion’s Instacash feature offers up to $100 of interest-free cash to external account holders. You can increase your cash advance limit to up to $1,000 (disbursed in increments of $100) by creating a RoarMoney account and setting up qualifying recurring direct deposits There are no fees. Standard funding takes 1-5 business days, and an optional Turbo delivery transfer will cost you between $1.99 and $8.99, depending on the amount and your account status. 

• Offers financial tools like mobile banking, credit cards, and loans
• No credit check
• Interest-free cash advances
• High borrowing limits for mobile banking users

• Borrowing limits tied to account activity
• Incentivizes referrals for higher limits
• Standard funding times can be lengthy
• Turbo delivery transfer fees increase with higher amounts

Can you get $500 now for free?

Possibly. If you qualify, Current and Dave can get you the full $500 with standard delivery at no cost. But if you need the money right away, expect to pay a small fee for instant transfers.

EarnIn and MoneyLion may not give you the full $500 upfront, so they’re not ideal if you need all the funds immediately.

You could also look into a 0% rate credit card or borrow from someone you trust—just make sure you understand the terms and have a plan to pay it back.

What are the risks of borrowing $500 instantly?

Borrowing $500 is convenient, but what are the risks involved? Most cash advance apps automatically withdraw your repayment from your following paycheck. This reduction in your income can result in dependency since you now need extra funds to cover your expenses and what you’ve borrowed. 

You also risk overdrafting your bank account. If you don’t have the funds to repay when the payment is due, then you could incur overdraft fees from your bank and a late fee from the cash advance app. This would put a big strain on your finances. 

Build an emergency fund to avoid having to borrow $500 in the future. Review expenses to reduce or remove non-essential expenses and redirect those funds to a savings account. If there is no wiggle room, consider taking on a side job, looking for a higher-paying job, or asking for a raise.

Alternatives to cash advance apps for borrowing $500 instantly

Not everyone will qualify for a full $500 advance right away—even with the best cash advance apps. If that’s the case, or if the app options don’t work for your situation, here are some other ways to access money quickly:

Option	Rates (APR)	Fees?	Credit check?
Paycheck advance	0%	Yes (subscription fees and instant transfer fees)	No
Buy now pay later	0%	Yes (late fees)	Soft credit check
Credit card advance	25% APR	Yes (cash advance fees)	Yes
Payday loan*	Up to 300% APR	Yes (origination fees and late fees)	No

Personal line of credit

Borrow money when you need it with a personal line of credit. Banks and credit unions can extend a line of credit with a set limit within a few days of applying. You’ll only be charged interest on what you borrow, and these rates are typically lower than what you’d find with a payday loan.

Payday alternative loan 

A payday alternative loan (PAL) is exactly what the name suggests: a low-cost alternative to a payday loan. These loans offer lower interest rates and better terms than payday loans and are available through certain credit unions. PALs are a more structured option, but approval and funding can take a few days longer. 

Personal loans

Personal loans offer fixed amounts of cash at fixed interest rates. Approval and funding can take up to 5 business days. You’ll get access to larger amounts of money at lower interest, but you’ll be subjected to a credit check, and you may need to provide proof of income. 

0% APR credit card

A 0% APR credit card lets you borrow cash interest free during a promotional period. This option requires good credit, and it may take more than a few days to receive your card in the mail. However, as long as you repay the debt before the promotional period expires, the funds are virtually no fee. 

Friend and family loan

A loan from a friend or family member can give you quick access to funds interest free. This can be an instant and cost effective solution depending on your relationship with the family member. It’s important to set up your repayment terms before accepting the funds to avoid conflicts.  

Based on the timing of the purpose of the funds, I recommend considering an appropriate savings plan or alternative option before borrowing the $500, such as seeking assistance from a trusted family member or friend. I would also consider using a credit card, provided that the interest rate and fees are favorable.

FAQ

Is there a “cooling-off” period for cash advance apps?

Generally, cash advance apps do not offer a formal “cooling-off” period the way other financial products (e.g., loans or credit cards) do. Once you request an advance, the funds can be transferred immediately, and there is no option to cancel or delay the transaction. However, the terms may vary between apps, so it’s always best to check the app’s terms of service for specific policies.

What are the consequences of not repaying a cash advance app on time?

If you fail to repay a cash advance on time, the app may attempt to withdraw the funds from your linked bank account. If you don’t have sufficient funds, you could face overdraft fees from your bank, in addition to any fees the app may charge for late payments. 

Some apps may limit or block access to future advances until the balance is repaid. It’s important to review the app’s terms for details on the specific late repayment policies.

Can cash advance apps affect my credit score?

Most cash advance apps don’t report to credit bureaus, so missing a payment won’t directly affect your credit score. However, some apps might share data with third-party partners or perform soft credit checks, which don’t affect your score but are visible on your report. 

If a bank account associated with an app goes into overdraft due to failed repayments, this could harm your credit if it leads to further financial issues.

Recap of the best cash advance apps for $500