Brigit Cash Advance Review – $250, Fast!
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If money is tight for you right now, you’re not alone. More and more consumers have reported falling behind on credit card payments and bills. Inflation may be going down, but consumer prices remain high, and many Americans are feeling the pinch. This is where cash advance apps like Brigit can help.
Brigit Cash Advance is an app that aims to help consumers improve their personal finances through a few different tools. While most known for their cash advances, they also offer credit monitoring, identity theft protection, and a way to track and analyze your spending habits, similar to an app like the now-defunct Mint.
If cash fast would make a big difference to you today, and you know that you could pay it off when you next get paid, Brigit might seem like a godsend. But, how much does it cost? And is it worth that price? Keep reading to learn all about how Brigit Cash advances work, and whether they’re a good fit for you.
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What is Brigit Cash Advance?
So what exactly is Brigit? Brigit is an app available on iOS and Android devices that offers financial insights about your spending, as well as access to small personal loans in the form of $50 to $250 dollars. Effectively, Brigit functions like a better version of digital payday loans, but with more transparency and less predatory fees involved.
According to their website, Brigit’s mission is to improve consumers finances by helping them avoid overdraft fees, giving them access to cash when they need it, while also helping users spend more wisely and even start saving more. All of these tools are rolled up into an attractive, easy-to-use smartphone app.
How does Brigit Cash Advance work?
Getting started with Brigit takes only a few minutes. To start, you’ll want to navigate to the Google Play or Apple app store on your smartphone and download the app.
After you’ve downloaded the app, you’ll need to create an account. As part of creating your account and verifying your identity, you will also link your bank’s checking account, which will allow Brigit to both analyze your expenses and income and also qualify you for a cash advance. Note that not every user will qualify for a cash advance of $250. Based on your score, you may be eligible for anywhere from $50 to $250.
How is that score calculated? Brigit looks at a few different factors as it analyzes whether or not you’re eligible for a cash advance — and how much that advance is. These factors include things like spending behavior, how long your bank account has been open, and your average balance and number of recurring deposits.
Get cash – with no credit check or late fees
- Approval in minutes.
- No credit check.
- No late fees.
- Avoid overdrafts and worry less
With Express Delivery, you can get your cash in minutes, for a small fee. If you’re not in a rush, you’ll get it in 2-3 business days and it’s always free.
How much does Brigit Cash Advance cost?
Assuming that you get a high enough score to qualify for a cash advance, you’ll need to become a Brigit Plus subscriber in order to access your advance. Brigit charges $9.99 a month as part of its Brigit Plus subscription, which also includes features like automatic overdraft protection, credit builder loans and budgeting assistance.
If you’re able and willing to wait for your cash advance to clear in 2-3 days, you won’t pay more than the $10 a month subscription fee. However, if you need your money within as little as 20 minutes, Brigit will also charge you an additional express fee to be repaid at the same time that you repay your advance. Typically, that express delivery fee is no more than $3.99. This means that for a Brigit instant cash advance, you’re looking at paying $13.98 a month. If your advance is for $200, for example, that means you’re effectively paying 6% in fees to get that short-term loan. Compared to other lenders with hidden fees, this can be a major benefit of Brigit.
Brigit Cash Advance features
Instant cash advance
One of the top advertised features Brigit offers is its instant cash advances. Ranging anywhere from $50 to $250, these short-term advances must be paid back on your next pay day but can be super helpful for small emergencies, groceries, or that bill that slipped your mind.
No credit checks required
Getting a small amount of money from Brigit is much more straightforward than qualifying for a personal loan, and doesn’t require a credit check. Instead, all you need to qualify is a linked bank account that has more than 60 days of activity, three deposits from an employer, and a balance of more than $0 without any recent banking late fees or other marks against your account.
Credit building features
If you want to upgrade your Brigit Plus membership to a Premium membership for $14.99 a month, Brigit will give you access to its credit building features. Effectively, Brigit’s credit builder allows you to save up money which Brigit then reports as payments towards an installment loan. If you need to improve your credit score with Equifax, TransUnion, or Experian, having these on-time payments reported (and quickly paying off a new account) could boost your score a bit.
Overdraft protection
If you’re already paying for Brigit Plus but don’t access your cash advances on the regular, Brigit can automatically monitor your account and forecast when you may overdraft. From there, it can generate auto advances to your bank, so you don’t ever have to lose sleep about overdrafts again.
Get cash – with no credit check or late fees
- Approval in minutes.
- No credit check.
- No late fees.
- Avoid overdrafts and worry less
With Express Delivery, you can get your cash in minutes, for a small fee. If you’re not in a rush, you’ll get it in 2-3 business days and it’s always free.
Who is Brigit Cash Advance best for?
If you have a steady income but are still living paycheck-to-paycheck, you likely know that sometimes your bills just don’t quite line up with your next payday. In these situations, Brigit can be a helpful tool in bridging you between paydays with extra cash, assuming that you generally are spending less than you earn. Especially if you can get some added benefit from its budgeting analyses, paying the monthly membership fee for Brigit may be worth your money.
Who shouldn’t use Brigit Cash Advance?
If you struggle with money, sticking to a budget, or are trying to use cash advances as another form of short-term credit, then Brigit is not for you. It is very easy to get stuck in a cycle of constant advances with Brigit, meaning that you’re always reliant on the cash that Brigit floats you in order to stay on top of your finances.
For one-off scenarios where getting a personal loan or swiping your credit card isn’t possible, Brigit can be a helpful tool. But the last thing you want is for Brigit to become a lifestyle.
Brigit vs Dave vs Empower Thrive
App | Cash Advance Max | Monthly Fee |
Brigit | Up to $250 | $9.99 |
Dave | Up to $500 | $1 |
Empower Thrive | Up to $250 | $8 |
Dave
Dave (the app with the friendly looking bear) is another big name in the cash advance space. They offer a higher cash advance max of up to $500 before your next payday, and also offer a much lower monthly fee of $1 a month. Dave does ask for tips, but you don’t have to tip if you don’t want to.
Empower Thrive
Empower Thrive is much more on par with Brigit when it comes to cost and features. Empower offers a cash advance max of up to $250 with a monthly fee of $8. Empower doesn’t ask for tips, much like Brigit, but it also doesn’t offer users the ability to reschedule when a payment is due.
Pros & cons
Pros
- Low fee for express transfers. Compared to other payday advance apps, Brigit offers a lower express fee should you need your money same-day.
- Doesn’t shill for tips. If you’ve used similar advance apps ike Dave or Earnin, then you may know that they ask for tips to help keep their service running. Brigit’s developers understand that you’re already paying a subscription fee for their service and doesn’t ask for any additional money as part of their advance process.
- No credit check required. If you have poor credit but only need a small loan, Brigit can save you a lot of money in interest. While its subscription fees are high compared to other options on the market, they still wind up being a lot less when compared to current interest rates for personal loans and credit cards.
Cons
- Monthly subscription fee. In order to qualify for its cash advances, you’ll pay a monthly fee to use Brigit. This differs from other apps like Earnin, which are supported primarily via tips.
- Advance may be smaller than other apps. Brigit caps its advance amounts at $250, no matter how good your financial health is. Other cash advance apps available to consumers may have higher limits, meaning that users can access more of their income sooner with different platforms.
- Free transfers take up 2-3 days. Generally speaking, if you’re looking at an app like Brigit in an emergency, you need your money ASAP. While you can get an express transfer for an additional $0.99 to $2.99, a free transfer with Brigit will set you back two to three business days to receive.
Get cash – with no credit check or late fees
- Approval in minutes.
- No credit check.
- No late fees.
- Avoid overdrafts and worry less
With Express Delivery, you can get your cash in minutes, for a small fee. If you’re not in a rush, you’ll get it in 2-3 business days and it’s always free.
FAQs
Is Brigit Cash Advance available in all 50 states? What are eligibility requirements?
Yes! As long as you are 18 or older, have an active bank account, and reside in the United States, you are eligible for a cash advance from Brigit.
Is the Brigit app secure?
Yes. Brigit uses 256-bit encryption in order to protect your banking information and personal data, which is the same layer of security that banks use.
Can you reschedule your repayment date?
Yes. Unlike other cash advance apps, Brigit does offer users the ability to change the due date of their cash advance repayment by deferring it up to 16 days. In order to qualify for an extension, you’ll need to have repaid two advances on time in order to have an extension credit. Brigit will also give new users one free extension starting out.
What do you need to qualify for a Brigit Cash Advance?
In order to be eligible for a cash advance from Brigit, you will need to pay $9.99 for a Brigit Plus loan and have a bank account in good standing that has been active for at least 60 days and receives recurring direct deposits from your employer. Additionally, the balance in your account must be greater than $0.
Does Brigit sell my data?
No. Brigit’s website claims that they will never sell your data as consumer privacy and security is a top priority.
The bottom line
A majority of Americans live paycheck-to-paycheck, regardless of how much money they earn. As a result, there may be times where you need a small amount of money to bridge between now and your next payday. In these situations, an app like Brigit can be a useful lifeline, assuming that you’re able to use it responsibly.
On the other hand, if you already have trouble with managing your money, focusing on getting on a written budget and building some other personal finance skills may be far more advantageous to your long-term wellbeing than a short-term cash advance. Brigit does offer additional features like a credit builder loan and some budgeting tools, but Brigit’s cash advance feature may still tempt you if you’re using the app to monitor your finances and credit.
Ultimately, if you know you have the self-control and are in a pinch, an app like Brigit offers relatively good value for its cost. Used responsibly, it can be much more financially beneficial than taking out a personal loan or putting an emergency on an interest-carrying credit card.
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Writer
Brent Ervin-Eickhoff is a Chicago-based writer, stage director, and filmmaker with a background in digital marketing and content creation. In addition to Joy Wallet, Brent has written for Complex, Volkswagen, HowlRound, Picture this Post, and Third Coast Review, among others. He currently serves as the Associate Director of Marketing for Content Creation at Court Theatre at the University of Chicago. Brent graduated from Ball State University with Academic Honors in Writing.
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